Let’s recap on crypto security and if you need to, check out part one.
Bitcoin security is important. Your bitcoin or any other cryptocurrency has a unique address or identification or private key. Therefore, you need to understand how important it is to keep it safe. If you lose it, it’s hard to recover it, so you need to secure it as best you can.
I must make this clear, because safety must be of utmost importance and should not be taken lightly.
There are countless stories of individuals who lost access to their computers (either through negligence or wrongdoing) and ended up being unable to recover their bitcoin or other cryptocurrency. This must be the equivalent of leaving your wallet vulnerable to either pocket money or carelessness when out and about.
Fortunately, there is a way to be doubly protected for your assets. A secure hardware wallet will ensure that if you accidentally lose access to your computer or tablet, etc., (by any means) you have the ability to recover your bitcoin, ethereum, litecoin, etc.
A hardware wallet allows you to transfer your cryptocurrency to any other computer, as it is basically a usb connection that you use to secure your transactions.
Second level of security.
Trezor is an original hardware wallet and is easy to set up for your bitcoin security. There are other products available, but for the rest of this article I’ve decided to focus primarily on the Trezor hardware wallet.
The main principle behind Trezors bitcoin security is zero trust.
Using the Trezor screen, you can independently verify and physically confirm each transaction directly on your device.
It also requires a pin from you every time you log in. This ensures that you are present at all times.
As a single-purpose device, there are no other functions on the wallet.
Simplicity is additional security.
Trezor is no exception to the risk of malware or viruses, period. However, the fewer devices Trezor communicates with, i.e. no Bluetooth, wifi or Qr code scanning, so the simpler the communication protocol, the more secure your bitcoin security.
Also, Trezor has no battery. Once it’s off, it’s off and your coins are safe from any cyber attack.
I hope I have emphasized the importance of Bitcoin security. The main issues are zero trust and concrete security. Also make sure your backup process is equally secure ie. if necessary, ensure that your details are available to someone you specifically trust.