When working with cryptocurrency, the user is accused of greater responsibility. If you are negligent in storing your digital assets and your wallet, as a result of which the key file will be lost, no one will help to cancel the transaction. That is why it is worthwhile to act carefully when making transactions with crypto, to observe all precautions and also to use all available tools developed for these purposes.
Cryptocurrency storage and security
An e-wallet acts as a deposit for cryptocurrency funds. Protecting it from external intrusions is one of the main activities. You shouldn't keep all your cryptocurrencies in one place. Today, cold physical wallets are considered the most reliable. The most popular ones allow you to store up to several dozen types of cryptocurrency and connect to the network just to perform transactions.
When you use online wallets, your funds are stored on an online service that provides on-demand access to them. This gives you quick access to the funds from almost anywhere, anytime, but the keys are held by a third party and you don't have full control of the funds. It is not advisable to keep large amounts in such wallets, as y can be hacked or simply closed without paying the debts. Such cases have already occurred more than once.
Download hot online wallets only from official developer sites, otherwise there will be a possibility that there is an unpleasant surprise embedded in it by malicious code. Do not unnecessarily download smartphone apps, they themselves are susceptible to hacks and attacks. Additional protection can be the storage of the wallet in a virtual machine, which is only loaded if it is necessary to transfer funds to someone.
For long-term storage of cryptocurrency, it is safer to use cold wallets or hardware. From a security point of view, there is practically no difference between them, but at the same time, the first type is free or cheap and can cost as much as a regular flash drive, unlike the second. It is often possible to print paper wallets. It is almost ideal for long-term storage of cryptocurrency, because it is absolutely protected against hacking, even if it is not very convenient and vulnerable to other dangers.
Security on cryptocurrency exchanges
Withdraw money in small portions. If you have never dealt with a specific service, put the minimum amount first and wait until you have obtained it. At the same time, you can check the quality of the resource. But in general, it is always worthwhile to withdraw money in small batches. If a trusted cryptocurrency exchange is suddenly hacked, you will only lose part of your money, but not all of it at once.
All exchanges have different requirements and registration rules, but today their security is relatively high when it comes to high-end platforms. However, there will always be risks. Some exchanges are forced to enable two-factor authentication, which, while not very convenient, significantly increases account security. We recommend that you follow all the security tips for each specific cryptocurrency exchange and use all available protection tools. Losing even a couple of minutes a day is incomparable with losing all your money.
During registration, many cryptocurrency exchanges require you to provide real data about yourself and go through KYC and AML. Some services collect a lot of data, such as the physical address of residence, and so on. It is often mandatory to provide such information.
The longer a resource works, the more known it is, the greater the risk that sooner or later they will try to hack it. As a result, passport data and other personal information will be in the hands of criminals. And here there are already risks that are not only related to the theft of exclusively digital funds. With the help of such data, offenders can easily track you down and harm you physically.
Solution that allows you to safely withdraw cryptocurrencies
As you can see, the security requirements for service exchanges are contradictory. On the one hand, the longer it works, the more reliable it is considered, but at the same time it draws more attention from hackers, which means it is more at risk of being hacked. A new unknown exchange can just be a scam. What to do?
Use reputable cryptocurrency platforms whenever possible, but don't keep your coins there for very long. If possible, withdraw your Bitcoins immediately after completing the desired operation and use a cryptocurrency tumbler, such as BitMix.Biz, every time.
This service allows you to erase the traces of previous transactions in order to prevent the possibility of linking your personal data stored on the exchange and the cryptocurrency in the wallet where you withdraw them. After going through a large number of different addresses in the crypto mixer in the form of small transactions, your coins are then transferred to the final address of your wallet without the possibility of associating them with you.
BitMix.Biz has the largest pre-mixed Bitcoin pool, which means that even when canceling large amounts of money, the whole process won't take longer than it takes to confirm a single transaction.
The safety of large amounts is guaranteed by a special deposit of $ 15,000, which he made to cover any loss of users if they occur through the fault of the service. Also, to mix cryptocurrencies from 0,1 BTC, 1 Dash or 1 LTC, the randomization function is used, which greatly increases the tracking complexity.
A commission in the range of 0,4% to 4%, which the system can choose at random or at your discretion, will not reveal your transfer by amount. The same does the random sending time to prevent timestamp indication.
A simple interface, available in a dozen global languages, will allow everyone to understand all the nuances. When you insert coins into the system, you immediately receive an email with a verification code, which guarantees that you will receive your funds.
Add the service API to your website to provide your users with clear encryption when making payments. Use tor, ClearNet b browser with NoJS for maximum anonymity.
Website: https://bitmix.biz/en
Frequent questions: https://bitmix.biz/en/pages/faq
