Buying the cheapest way to buy bitcoinsis not a big deal, ensuring that your bitcoins are secure in the wallet of choice is what matters most. The following are some of the best practices to adhere to in making sure that your wallet and bitcoins are safe.
Take care of the online services
You have to be wary regarding services that are designed for storage of your money online. Many online wallets and exchanges do suffer from breaches of security and don’t give enough insurance as well as security to be used in storing your money like the banks. You have to check out what bitcoin wallet you are settling for. Otherwise, such services have to be selected carefully. It is also recommended that you use two factor authentication.
Small amounts to be utilized daily
You can equate a bitcoin wallet to a normal wallet that has cash. If you cannot keep your thousand dollars safely in your pocket, you will need to have equal consideration when picking a bitcoin wallet. It tends to be a good practice in keeping small bitcoins amounts on your server mobile or computer for daily use. The remaining funds have to be kept in a safe place.
Ensure to backup your wallet
When placed in a safe place, your wallet back up can be able to protect you when it comes to computer failures and other human mistakes. It also enables you to be in a position to recover your wallet when your computer or mobile gets stolen as long as you kept your wallet encrypted.
Make sure your wallet is encrypted
When you encrypt your wallet or you ensure your phone asks for a password when trying to withdraw funds that is good practice. how to buy bitcoin with prepaid card ? It helps in protecting you against hackers as well as thieves. Though it will not protect you against the keylogging software and hardware.