Tips for Using Bitcoin

Digital currency is something that’s still relatively new to the world these days, and because of that, it’s natural for people to question it as well as why they should consider using it. However, the positive part is that it’s not as difficult to use and it’s not as complicated as you may think it is. Also, it’s known to be a lot safer to use.
What is Bitcoin?
While anything can be stolen, there’s a common argument that Bitcoins can be stolen, but this isn’t always true since its digital. To keep yourself protected it all comes down to following a few simple rules and tips to help increase your security. You can follow the following tips to help you remain safe and to prevent anything from happening.

Keep Wallets Separate

If you have a wallet that is used strictly for spending your Bitcoins, you want to make sure it doesn’t contain your entire amount of Bitcoins. This can make it more vulnerable to different abuse types. Keep in mind that there isn’t a limit to the number of addresses or wallets you can have so considered getting a few different ones to help keep things separate and safe. You can have one for spending and one for receiving.

Avoid Web Wallets for Savings

There have been recent cases that have involved web wallets being hacked into and then emptied of all savings. It may seem like web wallets are a lot more convenient but keep in mind that you want to use them like a checking or current account and you want to store money there that will be used in the future. This means that if you only keep a small amount in them, you are at a lower risk of getting money stolen in the case you are hacked. With bitcoin money exchange you want to keep your losses at a minimum, and because with Bitcoin if you lose money you can’t submit any fraudulence claims to anyone. While you can get the law involved there really isn’t much they can do either.

Always Protect Your Privacy

Always remember to keep all information private with Bitcoin money exchange. Keep all pin numbers safe and never give them to anyone. If you have a sending account and a receiving account, it’s easy for hackers to figure out which one is which and they can easily access your info. Make sure you keep your wallet key privately stored someone offline so that no one can accidentally gain access to it.
Another way to keep things safe is to use what is called a brain wallet. This is a combination of different words and numbers that you will carry around in your head. When you enter these words and numbers into a site such as a brain wallet it automatically can unscramble it to obtain what your private key is.
Bitcoin money exchange is becoming a favorite way for some people to send and receive money safely and when using Bitcoin currency, these tips can help you send and receive safely while limiting the chance of being hacked.