Cyber Security and Bitcoin

Cybercrime is the biggest threat to our digital economy.  It is up to you to take care of your digital assets.

The number of exchanges hacked this year may surprise you.  The most important best practice to adhere to is to use exchanges for what they are intended.  Buying and selling Bitcoins.  Ensure you do not keep any Bitcoin in an online wallet on an exchange.  If you are a trader, make sure you empty your account after trading.  Keep your Bitcoin in an offline wallet and vault such as Swiss Bank In Your Pocket.

Reports often emerge of Bitcoin being accessed from different countries and transactions being sent from online wallets on exchanges.  Luno’s Werner van Rooyen commented “We sometimes receive messages from customers who shared their passwords – usually by using the same email address and password combination on multiple sites. We wrote a detailed guide on how to prevent accounts from getting compromised” – Click here for the guide

Hackers Have Stolen Millions Of Dollars In Bitcoin – Using Only Phone Numbers.

Cyber attacks raise questions about blockchain security.  “Like most new technologies, distributed ledger systems also pose certain risks and uncertainties which market participant and financial regulators will need to monitor,” the Financial Stability Oversight Council, a group of US regulators said.

In the video below, John McAfee talks about the future of Bitcoin and how to secure your assets today.  For years hackers have been stealing data and of course, the value of the data depends on who wants it.  Now with Bitcoin, the value is in the actual data itself making it very attractive to hackers.  As the value of Bitcoin increases, so will cybercrime.  Make sure you protect yourself.

What is the difference between an online wallet and an offline wallet?


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