Bitcoin Mining and Security Part 2

Let’s recap on crypto security and refer to part 1 if needed.

Bitcoin security is important. Your Bitcoin or any other cryptocurrency has a unique address or identification or private key. Therefore, you should realize how important it is to keep it safe. If you lose it, it is difficult to recover, therefore it is necessary to secure it as best as possible.

I must clearly emphasize this as security should be paramount and should not be taken lightly.

There are countless stories of people who have lost access to their computers (either due to carelessness or abuse) and ended up unable to recover their bitcoins or other cryptocurrency. This should be the equivalent of leaving your wallet vulnerable through pickpocketing or carelessness when out and about.

Fortunately, there is a way to doubly protect your assets. A secure hardware wallet will ensure that if you have the misfortune of losing access to your computer or tablet, etc. (by whatever means), you will have the ability to recover your Bitcoin, Ethereum, Litecoin, etc.

A hardware wallet allows you to restore your cryptocurrency on any other computer as it is basically a USB connection that you use to secure your transactions.

Second level of security.

Trezor is the original hardware wallet and is easy to set up for your Bitcoin security. There are other products available, but for the rest of this article I decided to focus primarily on the Trezor hardware wallet.

The core tenet of Trezors’ bitcoin security is zero trust.

Using the Trezor screen, you can independently verify and physically confirm each transaction directly on your device.

It also requires a pin from you every time you log in. This ensures that you are the one present at all times.

As a single purpose device, the wallet has no other functions.

Simplicity equals added security.

Trezor is no exception to the risk of malware or viruses, period. However, the fewer devices the Trezor communicates with, ie. there is no bluetooth, wifi or qr code scanning, so the simpler the communication protocol, the more secure your bitcoin security.

Also, the Trezor doesn’t have a battery. When it’s off, it’s off and your coins are safe from any cyber attacks.

I hope I have highlighted the importance of Bitcoin security. The main problems are zero trust and concrete security. Also ensure that your backup process is equally secure ie. if necessary, make sure your data is accessible to someone you specifically trust.