{"id":1832,"date":"2019-05-08T02:30:00","date_gmt":"2019-05-07T18:30:00","guid":{"rendered":"https:\/\/www.coincola.com\/blog\/?p=1832"},"modified":"2019-06-17T17:49:56","modified_gmt":"2019-06-17T09:49:56","slug":"how-to-secure-your-bitcoin-after-buying-it","status":"publish","type":"post","link":"\/blog\/how-to-secure-your-bitcoin-after-buying-it\/","title":{"rendered":"How to Secure Your Bitcoin After Buying It?"},"content":{"rendered":"

Keeping bitcoin and other cryptocurrencies safe is almost as important as buying through a secure exchange. CoinCheck is one of the biggest crypto exchanges in Japan and the world. It recently lost over $500m in digital assets after criminals attacked it. That isn\u2019t strange in and of itself; crypto exchanges get hacked all the time. <\/span><\/p>\n

Two things are notable about this hack. First, the amount of money involved is extraordinary. This may be the biggest crypto heist in history. <\/span><\/p>\n

Second, the funds were stolen from a hot wallet; a digital wallet with a live Internet connection. This is yet another reminder that using a hot wallet \u00a0– which is what most people do – can be dangerous. <\/span><\/p>\n

To help you stay safe, this article will give you 5 tips for storing crypto safely after buying it. Tip #1 is\u2026<\/span><\/p>\n

1. Use cold storage<\/span><\/h2>\n

Cold storage wallets the main alternative to hot wallets. Using them involves transferring your crypto to an offline, physical carrier like a USB stick or a bank deposit box. <\/span><\/p>\n

As a rule, cold storage is safe. Just remember that physical objects tend to get lost and damaged. If you have a good way to make sure your carrier is secure at all times – great. Otherwise, consider using the tips below to reinforce your hot wallet. <\/span><\/p>\n

2. Activate 2-factor authentication<\/span><\/h2>\n

If you\u2019re using a software wallet or an exchange-powered wallet, remember to turn on 2-factor authentication. This will make your wallet ask for confirmation via e-mail, SMS, secret code, or other method, giving you an extra layer of protection. <\/span><\/p>\n

If you\u2019re not sure how to use 2FA, check out our guide on using <\/span>Google\u2019s 2-step verification process and app<\/span><\/a>. <\/span><\/p>\n

3. Be careful who you trust your crypto with<\/span><\/h2>\n

A wallet can appear to be safe and still be dangerous. For example, stories abound of people buying crypto wallets that had been tampered with and <\/span>losing 5 and 6-figure sums as a result<\/span><\/a>. <\/span><\/p>\n

To make sure this doesn\u2019t happen to you: <\/span><\/p>\n