5 Powerful Techniques for Securing your Bitcoin Wallet

A Bitcoin wallet is like your bank account. It must be kept secure at all times. Otherwise, a smart hacker or scammer can steal all your Bitcoins. The big question is: How can you secure your Bitcoin wallet and keep it safe from hackers and scammers? Here’s how:

Make your Bitcoin wallet secure by backing it up

The most important element in your Bitcoin wallet is your private keys. They are your secret code for accessing your Bitcoin account, so they must be kept secret at all times. If someone gains access to your private keys, they can steal your Bitcoins. The possibilities of someone getting your private keys are compounded if you use an online wallet. That’s why it’s strongly advisable to choose hardware wallet because it’s not connected to the internet. Any information stored on a hardware wallet cannot be hacked. Also, have a backup for your hardware wallet in case it fails, or you lose it.

Secure your Bitcoins by using an encryption key

Encryption is the act of converting information into a code to mitigate unauthorized access. Make a point to encrypt your devices to keep them secure in the event that someone gets your hardware wallet or computer. If you own a Windows personal computer, you can leverage the built-in Windows encryption functionality known as BitLocker.

Make use of VPN to secure your Bitcoin wallet

If you own and trade Bitcoins, a VPN (Virtual Private Network) is critical to the security of your Bitcoin wallet. VPNs are designed to encrypt your network whenever you are online, which means no hackers can access your network. Essentially, you are not visible to any hacker whenever they enter your network.

Create a two-step authentication for your Bitcoin wallet

This adds an extra layer of security to your Bitcoin wallet. A two-step authentication means that after you’ve entered your password, the system will bring up another box to enter a second factor. If you’re buying and selling Bitcoins using your smartphone, the second authentication factor could be your facial identification, fingerprint or a one-time pin. These days, there are many apps that offer two-step authentication, so it won’t be work to create one.

Protect your Bitcoin from hacks by storing only small amounts of Bitcoin

Storing only a small amount of Bitcoin is one of the best ways to protect your Bitcoin wallet because it will make hackers uninterested. Hackers don’t want to spend a lot of time, energy and resource to steal small amounts of Bitcoin. They are interested in making a big score.


It’s a painful experience to work hard to acquire a significant amount of Bitcoin only for someone to steal it in minutes. Prevent such a scenario from happening by securing your wallet using the techniques highlighted above.

By | 2018-03-06T16:43:42+00:00 March 1st, 2018|Blog|0 Comments