Let’s talk about cryptocurrency security briefly, and if you need to, check out part 1.
Bitcoin security is important. Your bitcoin or any other cryptocurrency has a unique address, identification or private key. Therefore, you must realize the importance of keeping it safe. If you lose it, it is difficult to recover it, so you need to secure it as well as possible.
I must emphasize this clearly because security should be of utmost importance and should not be taken lightly.
There are countless stories of people who have lost access to their computers (due to carelessness or wrongdoing) and as a result have been unable to recover their bitcoins or other cryptocurrencies. This should equate to leaving your wallet vulnerable to pickpocketing or carelessness while out and about.
Fortunately, there is a way to doubly protect your assets. A secure hardware wallet keeps your bitcoin, ethereum, litecoin, etc. in case (however) you lose access to your computer or tablet, etc. will ensure that you have the ability to recover.
A hardware wallet allows you to restore your cryptocurrency on any other computer because it’s basically the USB connection you use to secure your transactions.
Trezor is an original hardware wallet and easily setup for your bitcoin security. There are other products, but for the rest of this article I decided to deal primarily with the Trezor hardware wallet.
The core principle of Trezors bitcoin security is one of zero trust.
Using the Trezor screen, you can independently verify and physically confirm each transaction directly on your device.
It also asks you for a pin every time you log in. This way, you ensure that you are always available.
As a single-purpose device, the wallet has no other functions.
It equals simple added security.
Trezor is not exempt from the risk of malware or viruses. However, the fewer devices the Trezor communicates with, meaning no Bluetooth, wifi or QR code scanning, so the simpler the communication protocol, the safer your bitcoin security.
Also, the Trezor does not have a battery. When unplugged, it turns off and your coins are safe from any cyber attack.
I hope I have highlighted the importance of bitcoin security. The main issues are zero trust and concrete security. Also, make sure your backup process is equally secure, meaning that your data is clearly accessible to someone you trust if necessary.