Do Backups And Encryption Secure Bitcoins?

Do Backups And Encryption Secure Bitcoins?

Digital currencies like Bitcoins which makes use of QProfit System can be quite susceptible to cyber theft. Nevertheless, in a number of ways, it is not that risky anymore when compared with the cash you keep in your physical wallet. For a majority of the cases, one can adequately safeguard the bitcoins by making use of the numerous basic safety measures that do not necessitate a lot of technical know-how.

  1. Keeping wallets and private keys encrypted

Encryption is a method where your keys turn into a code that can only be decoded by entering your password. Most of the wallet services and the cryptocurrency exchanges permit you to enable encryption.

Your computer system helps you to encrypt the files as well. This option can be found by scrolling through the security or advanced options.

  1. Encryption of the entire system

In addition to encrypting just the files, you can also deliver added security for your Bitcoins by encrypting the electronic device that you commonly used for making Bitcoin transactions. It’s also advisable to encrypt all the devices that are connected or that can be utilized to access the computer system or other devices you own.

It’s better to encrypt the wireless network to hinder cyber attackers from accessing your data that is stored in the computer network or collecting information that is transferred over your network via your router.

  1. Make multiple backups

It’s preferable to backup your Bitcoin files, including the private keys, at regular intervals. A single backup may be more than enough, but if it is somehow crashed you tend to be vulnerable. Making a number of backups using various media would be advantageous.

For example, you might use a CD-ROM for one backup and a USB thumb drive for another backup.

Storing a backup on DropBox which is a cloud storage system is the next possible option. However, remember that cloud systems can still be vulnerable to attacks. If you plan to store a backup on the cloud system, see to it that it’s encrypted.

  1. Store your backups in different places

In case your backup is stored on a physical storage device, chances for physical destruction exists. A CD-ROM or a USB flash drive can be destroyed or corrupted.

It’s advisable to safe keep them in various locations so that if one is corrupted, you still get to retrieve a good backup. Maintaining a minimum of at least one backup off-site so as to make it secure is also required.