Secure bitcoin wallet online
Otherwise, you should choose such services very carefully. Additionally, using two-factor authentication is recommended. A Bitcoin wallet is like a wallet with cash. If you wouldn't keep a thousand dollars in your pocket, you might want to have the same consideration for your Bitcoin wallet.
In general, it is a good practice to keep only small amounts of bitcoins on your computer, mobile, or server for everyday uses and to keep the remaining part of your funds in a safer environment. Stored in a safe place, a backup of your wallet can protect you against computer failures and many human mistakes. It can also allow you to recover your wallet after your mobile or computer was stolen if you keep your wallet encrypted. Some wallets use many hidden private keys internally.
If you only have a backup of the private keys for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with your backup. Any backup that is stored online is highly vulnerable to theft. Even a computer that is connected to the Internet is vulnerable to malicious software.
As such, encrypting any backup that is exposed to the network is a good security practice. Single points of failure are bad for security.
If your backup is not dependent of a single location, it is less likely that any bad event will prevent you to recover your wallet. You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses and all new Bitcoin addresses you created are included in your backup.
However, all applications will be soon using wallets that only need to be backed up once. Encrypting your wallet or your smartphone allows you to set a password for anyone trying to withdraw any funds.
This helps protect against thieves, though it cannot protect against keylogging hardware or software. You should make sure you never forget the password or your funds will be permanently lost.
Unlike your bank, there are very limited password recovery options with Bitcoin. In fact, you should be able to remember your password even after many years without using it.
In doubt, you might want to keep a paper copy of your password in a safe place like a vault. Any password that contains only letters or recognizable words can be considered very weak and easy to break.
A strong password must contain letters, numbers, punctuation marks and must be at least 16 characters long. The most secure passwords are those generated by programs designed specifically for that purpose.
Strong passwords are usually harder to remember, so you should take care in memorizing it. An offline wallet, also known as cold storage, provides the highest level of security for savings. It involves storing a wallet in a secured place that is not connected to the network. When done properly, it can offer a very good protection against computer vulnerabilities. Using an offline wallet in conjunction with backups and encryption is also a good practice.
Here is an overview of some approaches. This approach involves having two computers sharing some parts of the same wallet. The first one must be disconnected from any network. It is the only one that holds the entire wallet and is able to sign transactions. The second computer is connected to the network and only has a watching wallet that can only create unsigned transactions. This way, you can securely issue new transactions with the following steps.
Because the computer that is connected to the network cannot sign transactions, it cannot be used to withdraw any funds if it is compromised. Even seemingly reputable wallet providers or exchanges that have access to your private keys are taking risks with your money. It only takes one rogue employee or experienced hacker with access to the naked keys and your Bitcoins are gone forever.
Even experienced Bitcoin users have lost coins because they accidently deleted their wallet file on their personal computers. We process payments in the browser so we only have an encrypted version of your private keys on our server. We've been securing our clients Bitcoins like this since Sleep easy knowing that you have a print out of all your Bitcoin funds encrypted and in your control.
You can buy Bitcoins from our trusted sellers and have them delivered directly to one of your secure addresses. Copyright - StrongCoin. Strong coin is a hybrid bitcoin wallet Encryption is done in the browser before your Bitcoin keys are saved on our servers. Buy Bitcoins and have them delivered directly to your StrongCoin wallet Don't risk your Bitcoins by leaving them on an exchange.