Bitcoin itself is not a virus – it won’t harm your PC or steal your data and money. However, bitcoin can be an ideal tool for criminals and fraudsters like every other currency. You can click on the Ethereum Code to learn more about bitcoin trading.
7 Ways How Bitcoin Affects the Internet Security
1. You must understand how bitcoin operates.
If you have no idea what a private key is or why are Reward Addresses necessary – it’s better to ask someone who knows before you start using bitcoins for trading, donations, or other purposes.
Also, remember that your bitcoins are stored in a specific location. So if you don’t back up your wallet – one day, it can be stolen, just like any other money on your computer or in your pocket.
2. You need to keep the software updated.
Updates fix vulnerabilities and fix bugs, so if you want to use bitcoin safely – you need to keep your wallet software updated. Unfortunately, like any other software, it can have bugs – and one day, a bug may be used by a criminal to steal your coins.
Updates are significant for bitcoin because of its growing popularity – new features and security fixes are released constantly.
3. You need to use complex passwords/passphrases everywhere.
No matter if it’s bitcoin-related sites, exchanges, wallets, etc. – if they allow you to use strong passwords/passphrases (you should look for at least 16-20 characters long, consisting of at least one character from each group: small and capital letters, numbers and unique signs) – use them.
4. Use a dedicated computer for your regular bitcoin-related work.
If you check your e-mail or visit forums – it’s better to do that from a regular PC that doesn’t store any bitcoin/money-related information.
5. Keep your antivirus and internet security updated.
Criminals usually target popular websites, so it’s better to protect yourself against regular malware – instead of waiting for a single virus that may attack your bitcoins specifically. Also, don’t use the same password you use on bitcoin sites or services on any other web pages.
6. Use different wallets/addresses for each transaction.
If you want to keep your transactions private, it’s better to create a new wallet just for that particular payment. Bitcoin services usually have wallets for users, so you can use one if you don’t need complete anonymity.
7. Use two-factor authentication where possible.
Two-factor authentication is an excellent way to protect your funds – but don’t forget that it’s only effective if you use complex passwords and PIN codes. Otherwise, someone who knows your password can steal the code from you and access your account.
Also, remember that mobile payments can be intercepted – so if you buy something with bitcoins using your phone, you may lose everything if someone steals it.
4 Ways How Bitcoin Benefits the Security of the Internet
1. It’s great for international payments.
You can send money using bitcoin to anyone in the world almost instantly and without additional fees. Moreover, you won’t be limited by your bank or some other institutions – so your transaction will be completed even if some of the parties are on vacation or wake up at 3 am on the weekend.
2. It’s excellent for micropayments.
Micropayments service providers usually suffer from high fees because the processing demand is relatively low. Bitcoin is an excellent payment method for micropayments because it doesn’t require institutions to process them.
3. It’s easy to set up.
It usually takes less than an hour to create your wallet and activate your bitcoin address – but if you want, you can also use some other services like Coinbase or Circle to store your money (but it’s safer to use your wallet).
4. It can’t be frozen or controlled by authorities.
No government, bank, or third party can block your account – so you can freely send and receive money without worrying about some central institution controlling it.
Bitcoin is beneficial for online payments, but you need to use it cautiously. Always remember that bitcoin is not “universal gold” – it’s money, and the funds can be stolen if you don’t take care of it properly. That’s why you need to follow all of the tips above if you want to keep your bitcoins safe and sound.