Post
Topic
Board Beginners & Help
Re: Should I Be Scared Of Hackers If I Have Lot of BTC.
by
Techie5879
on 27/04/2018, 13:35:31 UTC
Probably yes. If you have any amount of bitcoin more than what you can afford to lose, and keep it on a desktop, well thats where you make the mistake (Online wallets are out of the question, I hope you know that they are too insecure, due to the fact that there may be many vulnerabilities in their servers and the customer cannot do anything much to prevent theft of money in those cases). Any large amount of BTC (the word large is relative, what might be large for me, may be less for you) must be kept in a cold storage. Even if keeping a small amount of bitcoins on your computer of daily use, just for the sake of ease of usability, its extremely essential to always keep security maximized, and the computer needs to be always kept malware-free.

Due to the security of the blockchain structure, most attacks are exploits found within the already existing architecture of the system, that allow it to remotely send data over networks, even in some cases, secured ones. So the most exploitable link in the chain is the end user. The best practice would be to split up your funds, definitely invest in a hardware wallet, secure and good ones like Trezor or the Ledger Nano S, use cold storage, and ALWAYS backup your private keys.