Post
Topic
Board Bitcoin Discussion
Re: HARDWARE WALLET - ITS YOUR MONEY PLEASE SECURE
by
stevegee58
on 11/12/2017, 14:59:02 UTC
You don't need a hardware wallet for maximum security.  99% of people getting ripped off are keeping all their BTC on a web wallet or in an online trading account.

Following these rules will eliminate most Bitcoin rip-offs:
  • Stop using web wallets
  • Don't keep all your BTC in your trading account (if you trade)
  • Store your Bitcoin using a method where you have possession of your private keys.  You can use the bitcoin-core client if you're willing to download 150GB of data.  Or you can use one of the thin clients.  Electrum is a good example:  Make a new wallet with a deterministic seed phrase, print it and keep it somewhere safe.  If your computer is stolen or destroyed you can regenerate the wallet from the passphrase.
  • Stop using Windows.  The Windows world is full of viruses and trojans that can steal your wallet.
  • Use a Linux computer with whole-drive LUKS encryption for Bitcoin.
  • Practice good internet hygiene.  Don't download porn or torrents on the same computer as your Bitcoin.  Keep your Bitcoin on  a separate computer.  Bitcoin is money and it's serious business.
  • If you're a profitable trader move your profits from the trading site to your secure wallet.  Don't keep all your eggs in 1 basket.