The world of bitcoins were created by a very technical and security focused people. These people know how to keep their computers safe and to look after their online business.

While bitcoins have a lot of security features built into them, none of these security mechanisms can be of help to you if a hacker manages to gain access to your online wallet.

The best ways to keep your bitcoins secure, are to send them to an address that’s not actually in your wallet. The reason behind this is that if you can’t access your bitcoins from your wallet, then no hacker can.

Paper Wallets

These are printouts of a new bitcoin address along with a private key, which can be used to access the data at that address. So what this means is that if the private key information is not stored on the computer, then even the most skilful hackers will not be able to retrieve it.

The best way to create one of these paper wallets is to visit bitaddress.com and create one from the paper wallet tab on the screen. You’ll be automatically generated three paper wallets. All these wallets will be generated in javascript in the computer itself and no information will be sent back to the server.

Always print out the page with your paper wallet info on it BEFORE you send bitcoins to the address on them. Remember that keeping details of your paper wallets on your computer would defeat the whole purpose of them.

Brain Wallets

A brain wallet is a bitcoin address along with a private key, which is generated from a pass phrase and that can be used at a CasinoFair. The main advantage of a brain wallet over a paper wallet is that with brain wallets you don’t have to keep a printout of the address. The major drawback to this however, is that if you forget the pass phrase, then your bitcoins stored at that address will be lost forever.

You can use Bit Address to generate a brain wallet for you. When you generate an address, then you can easily send bitcoins to it. Make sure that you remember your pass phrase. You could use something like LastPass.com to remember your password for you just in case.

At the end of the day, brain wallets are much easier to use than paper wallets – simply because you’ve only to remember a pass phrase. You’ve got to be extremely careful when generating your pass phase. Why? Because hackers can quickly generate commonly used passwords in order to see if a specific address was used on that network.

If the hackers stumble upon the private key to a real bitcoin address, then they can easily take out the bitcoins from that address without any warning.

So, the best methods of keeping your bitcoins safe are to use either a paper wallet or a brain wallet. Either way will provide you with great security – just as long as you’re careful about everything.

The mark likewise keeps the exchange from being changed by anyone whenever it has been given. All exchanges are communicated to the organization and ordinarily start to be affirmed inside 10-20

minutes, through a cycle called mining.

Claire
Author

Claire Bennett is a self-taught poker player and is looking for different ways through which she can share her experience and poker tips with other enthusiasts.