Bitcoin, Crypto currency, Blockchain

Crypto-currencies in a safe place

“How can I as safe as possible with crypto-currencies?”

First of all, is to say that this article is represent by no means the claim the best and safest methods of all. The possibilities, for example, its Seed is as safe as possible is difficult to distinguish where the “safe handling” ends and the “group Alu-hat” starts are to be kept varied and sometimes. I’ll try to give in the Following some tips along the way, your crypto-Portfolio, largely safe can manage and still in use to a very limited extent.

1) Inform yourself BEFORE you invest!

The largest uncertainty factor in the crypto world usually sits directly in front of the screen ;-).
By reading this article, you’ve done it the first step in the right direction!
To be able to as safely as possible within this new Ecosystem interact, we need information and Knowledge. No other investment sector is so infiltrated very of fraudsters and hackers as the crypto-universe. Just because here (especially since the Hype Phase at the end of 2017) so many ignorant people frolicking, the crypto-deliver in search of wealth, your money more or less blind to consider the safety or even the investment to make the project self-invest without currencies the ideal breeding ground for theft and Rip-offs. To obtain the necessary information, you have to rely on the short or long term on different sources, which brings us to the next point.

2) Trust only yourself!

Own research, is the safe handling of crypto-currencies is essential. However, you should exactly what sources you trust and to whom not. Just so-called “crypto-Youtuber” you should always want to be with a good Dose of skepticism are considered, since only the least value, and many only by the market (“shillen”) of their own Portfolios to make money. Many Youtubers do not do this perhaps not maliciously, but out of their own ignorance, what makes it less dangerous for you and your money. Worse, as criminal, it is already the case with various other fraudsters, whose mesh is it to get in contact with other people on social networks and win with extremely high return promise for so-called Multi-Level-Marketing (“snow ball systems”) or through “Social Engineering” and other Tricks of the bona fide people of their Coins. DON’T TRUST ANYONE! Because, as the saying goes: “If something sounds too good to be true, then it is very likely”.

3) “Vorsprung durch Technik”

The security of your Coins is always accompanied with the security of the corresponding key (Seed/Private Keys). This store is as safe as possible trust different people with very different methods, from some some are safer than others.
To be able to go that you’re the only Person who knows your(n) Private Key(s), you should at the choice of the technology you use to manage the encryption key, special care.

Operating system

The safety begins with the choice of the operating system, you abwickelst your crypto-transactions. While some users may even buy on your mobile phone via various Apps of your Coins/tokens, actions and the key store, use the other for each purchase or sale a completely “fresh” Linux System (a”Live Distribution”).
Generally, the Manage of crypto-currencies on a mobile phone (especially with the operating system “Android” and if this “rooted”), if any, to be recommended only for small quantities. The same applies actually also for the “Otto-Normal-PC” with Windows operating system and the Free Version of a virus scanner. Even for second-class Hacker, it is usually a Light, your data. To do your Windows updates (the same applies also for Mac or Linux) be sure always to close any existing security gaps.
In order to increase the security of your crypto transactions is an old (or new☺), you may want a Notebook with a Linux System (e.g. Ubuntu) and install only the most necessary applications. Email traffic, file sharing, Facebook and other types of “virus spin” should be on this device is absolutely taboo.
Even if it is in the vernacular often “in Linux there are no viruses”, so this statement is simply wrong, and you should also equip your Linux system with additional security measures. Here is the case in the normal “Freeware offers no real protection”, so take a few euros in the Hand and that you have to buy a Premium license of an anti-virus program.
In the event that you want to set up a second System, you have an old Notebook lying around or no money for a new one, you can your system’s safety by Installing a so-called “Virtual machine”. Roughly speaking, simulates this program a virtual Computer on your current System. This virtual Computer can be provided with a different operating system and is completely isolated from your (possibly infected) system. The Tapping of keyboard entries or to read the passwords from the outside is almost impossible.

Browser and co.

Some scammers even go so far as complete Internet sites of well-known crypto-sites, Exchanges and Online Wallets quasi 1:1 to build, with the small difference that this Fake page after entering your Private Key to the site operator. To the naked eye, this fraud is not to identify sites, especially for the laity also the URL, the website address as it is often, relatively identical (e.g., www.binance.com and www.blnance.com).
Here absolute caution! To ensure that you are on the right page, you should always be the URL carefully and make sure whether the “secure Hypertext transfer Protocol”, also known as sure . If at the beginning of the entry for a “https://” and left a “Safe” (see figure.), you can be relatively sure that you are on the right page.

As a further safety measures you should install some Addons to help you, not to Scam and fraud to landing pages. An example of such a Addon, for example, for the Browser “Mozilla Firefox” is the so-called “Cryptowall”. This is checked against a huge database whether the page that you want to call is a fraud attempt or not, and prevents you from directly on a visit to a fake page.

Wallets

Because today there are many different types of Wallets, the users here are more or less the “agony of choice”. However, you should be always Careful that some of the Wallet variations are clearly safer than others. The fundamental difference of the Wallets is the Online and offline storage of Private Keys. Because Online Wallets, similar to stock exchanges (Why your Coins are not on Exchanges store should you can find out here), constantly cyber attacks are exposed, are Wallets which your keys offline store in any case, the safer Alternative. The safest and easiest to handle variant are, in any case, the so-called “Hardware Wallets”, because your Private Keys are stored offline on the device and this can leave the unit (even if the PC to which the device is connected, is infected). The devices to Ledger Nano S, Trezor and co. offer in addition to security, a high degree of portability, because you can’t secure with the supplied Software, your Coins only but also manage, without the need of your Seed somewhere online to enter. For the case that your “Hardcore HODLer” are, you can also, of course, the cheaper option, the “Paper-Wallet”. This way of storage is also referred to as “Cold Storage”, since your Private Key is effectively frozen on the paper “” and not the “hot” World Wide Web comes in contact. The disadvantage of this paper backup is that you to Send your Coins to your Private Keys have to transfer to a different Wallet (Online Wallet), which impairs the integrity of eures Paper Wallets are strong, and the safety can then no longer be guaranteed 100%. In addition, Wallets, special caution is necessary when you Create your Paper. Already very many people are Online Seed – or Paper-Wallet generators have fallen victim to. Your Paper Wallet is only as secure as the System it was generated on it. It should always be on an Offline PC, in a virtual machine to exclude created by the Tapping eures Private Keys by a third party. Also, the printer that you want the Wallet then, on paper, should be in the best case, there is no wireless printer and virus-free.

4) what to do with the Paper Wallets, and Seeds?

Although it has now been mentioned several times already, I would like to emphasize the following because of its importance, once again, to manifest the message in your minds: “Each Wallet is only as secure as his Seed”! Now the question is how to get your Seeds, thus, is best kept so that they are protected from the eyes of strangers, but in an emergency, nevertheless for you to access. Here, too, there is no “one truth” and different views, depending on whether you take the plunge, its Seeds also available in digital Form or in physical Form on paper/metal/etc. or even both digitally and physically. Basically, a redundancy in the case of the storage methods is always recommended and you should never keep only a single copy of your Seeds. It should be (in any way) destroyed or lost, your Coins are gone forever. Well, Yes, actually, they’re not gone, you can still not see but “hands-on” ☺. On kept, therefore, at least two copies of the eures Seeds at geographically separate locations (preferably in another city or another country), in order to protect it from environmental disasters, such as Floods. Depending on how safe the place is, in which the Seed is stored, is not to repeal it would also be wise to the entire Seed in one place. Smarter it is, the Seed in two parts and a copy of the parts of a total of four different places to store. Even if someone breaks into a place and a part of stealing your Coins are still safe. Are suitable, for example, safe Deposit boxes at different banks in different cities.

Physical Storage

For the physical Safekeeping of your Seeds and Private Keys, the follow criteria should be met. You should, water and Fire, as well as corrosion protected, and before the time of expiration to be stored. The Write down of the Seeds with a ballpoint pen on a piece of paper should be for anyone who is keen on the security of its assets, is an absolute No-Go! Better the Use of Tools such as “crypto-steel” or “Seedmaster”, but these are very expensive and therefore only for larger Investments interesting. A cost-effective Alternative you can make for you, however, even with a set of punch-type letters at Amazon and a couple of pieces of sheet metal. This method is definitely better than the pen/paper version, if also more time-consuming.

Digital Storage

With digital storage the Save to USB-stick is meant, because these are much too error-prone and much too fast break can go. Better the following procedure.
In order to protect the Seeds and definitely before the house fire, Überschwemmug and co. you can grab the Seed is also digital in a text file and then store (hosters encrypted) in various File. NOTE: This is not necessarily, as in point 3) above, a clean Offline System to use. However, to be here as safe as possible from theft, my recommendation is the following:

Divides the Seed in two text files and encrypts these with a Software such as Veracrypt with two secure different passwords (more on this in the next point). Now you have two encrypted Seed have download parts the you on four different Cloud systems. For example, part 1 on OneDrive, and Dropbox, and part 2 on Google Drive and Sync. It should handle well in fact someone was able to your Google should hack-Drive account, and even the Vera crypt encryption (which is very very unlikely), it still has only a part of your Seeds and your Coins are safe.

5) passwords

When the correct password choice to the people is mediated, unfortunately, has always been a false image. Many people think that a Insert special characters, and numbers good is more than the length of the password. BUT to make clear to you that it depends very much on the length, here’s a brief digression:

Suppose you choose a password made of 6 characters (including special characters, punctuation and digits), so there is a total of 95^6 possibilities.
As in computer science in powers of two is calculated, we write the number 2^40 (because log2(95^6) ≈ 40. Your password has an entropy of 40 Bits. A recent graphics card is required to Crack a password with 40-bit entropy a little more than a quarter of an hour! At 10 randomly selected characters increases the entropy on 65 Bit and the Crack now takes several weeks.

In order to generate a secure (=long) password you use in the best case, a password generator (Offline!). Since these passwords are often not easy to remember, can you, as an Alternative to simply a long mnemonic (at least 19 – 20 words) or 10 random words instead of 10 random characters as a password. To go extra safe, you can still have some special characters to insert

For Example:


Today I read an article in crypto Ticker.to io about the password security in crypto-currencies and I’m totally glad to learn!

Is more secure and easier to remember than

Baum_Bildschirm.Flasche_Apfel.Motorrad_Schüssel.Schlüssel_Heizung.Arbeit_Bahn

and this is more secure and easier to remember than

ADA!K§M%Q

Passwords should, however, always and I repeat ALWAYS be random combinations, because only then can one guarantee the safety. A series of birthday/place/address etc. is not useful.

6) 2-Factor Authentication

Because, unfortunately, the best password is useless if it can be avoided, you should also, wherever possible, so-called 2-factor authentication. There are various methods of 2FA but, in the cryptographic area, the most common method is the so-called OTP-passwords. With the help of an APP (such as the “Authy” or “Google Autheticator”) will be shown to you every 30 seconds a new one-time password, which is your in addition to your password, e.g. you have to type in when you Log on to an Exchange.

ATTENTION: Since the “Google Authenticator” does not offer a Backup function, it is imperative to make a note of necessary, the Backup key and storing it in a safe.

7) Other Tips

Finally, I want to give you a few useful tips along the way, which will also contribute to the safety of your Coins:

If you have this article carefully read and all points internalized and followed, should be your Portfolio safe and secure.

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