How not to lose your cryptocurrency. Three main rules

What you should do to save your bitcoins from getting lost or stolen: three simple steps.
How not to lose your cryptocurrency. Three main rules

A matter of securing financial assets is always important. In case with common money, it comes down to choosing a bank, or a variant for investments, or even to buying a safe. Cryptocurrencies need to be protected, as well. We've already talked about billionaire brothers who keep their bitcoins on paper.

Make a backup

The first and the most important step is making a backup of all the passwords and access codes on paper. When you have all the data, a lost wallet can be restored relatively fast, though if there's no backup, then losing such a wallet means its permanent loss. A backup needs to be constantly checked and updated, if needed.

Don't keep bitcoins on your phone

A bitcoin wallet in your phone is very convenient, but at the same time is rather vulnerable. You can simply lose your phone. No matter how convenient it is to pay or check your balance via your phone, it's better that you don't keep big amounts on such wallets.

Turn on two-step verification

Every Steam user is well acquainted with a two-step verification that is Steam Guard. The use of such a tool considerably increases a wallet's security. If you don't trust Google Authenticator or other apps for authorization, you can use special hardware tokens. Luckily, they cost less than 30 US dollars.

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