The crypto world gets stronger with investments of up to millions. Those who want to enter this world need to start from security. Bitcoin can be very safe if used correctly. Do not forget that the security measures you take to protect your money …
If you are about to explore Bitcoin, there are a few things you should know. Bitcoin allows you to transfer money in a different way than regular banks. Therefore, you should get some information before using Bitcoin for a serious transaction. Bitcoin should be used as serious as your regular wallet and in some cases even more!
Bitcoin and its derivative cryptocurrencies, which increase their popularity day by day with the great support they receive from technology giants, states and institutes, attract great attention from consumers.
Although crypto coins, which are on the agenda of the world in a short time with their unlimited usage area, are protected by encrypting thanks to Blockchain in the transactions made, it is still necessary to be cautious. DSX CEO Mike Rymanov gives 5 important advice to investors who want to keep their cryptocurrency investments safe.
1- Try to make sure all the devices you use are safe
Before getting into the technical parts of the business, users need to make sure their devices are well protected. Malware that seizes operating systems threatens not only cryptocurrency assets, but all the information of users on the device.
In order to minimize these risks, investors need to make sure that the devices they use such as computers, smartphones and tablets are protected from end-to-end and regularly pass their systems through security tests. Technology giants such as Kaspersky, Avast and Norton protect devices against risks with the quality security solutions they offer and prepare them for cryptocurrency transactions.
2- Use two-factor authentication with cryptocurrency wallets and Exchange
“Two Factor Authentication”, which users are familiar with from social media platforms, brings extra security to crypto money wallets. Almost all digital wallets come with this feature. This authentication system, which is not satisfied with the password specified by the person, but also requires his phone number and e-mail address, offers users the maximum. Investors confirm their transactions with text messages sent to their mobile phones, and they easily secure their accounts in case of a possible threat.
3- Avoid public internet connections
Free Wi-Fi hotspots in cafes, restaurants or event areas pose a great risk for cryptocurrency investors. These ports, which carry the personal information of hundreds of people, fall under the radar of cybercriminals. By capturing just one port, attackers have a chance to capture the data of everyone there. Investors should not take such a risk and only make their cryptocurrency transactions on connections that they know are 100% safe.
4- Know that not all said is true
Crypto money markets are separated from traditional markets with the rapid fluctuations they experience. Any cryptocurrency can gain and lose great value in a very short time.
The fact that there are many speculators steering the crypto markets stands out as one of the biggest reasons for this situation. Investors who invest in crypto currencies recommended by the crowd can suffer great losses in a very short time.
The lost money goes into the pockets of speculators who planned the whole process. Investors should not believe every news and be cautious about new trends.
5- Protect your user information by encrypting
In the cryptocurrency world, users’ login information is stored in a file downloaded to the computer. The very good protection of the system itself by encrypting it with Blockchain technology makes this file on the computer the new target of attackers.
What investors need to do is to protect this threat extra with an encryption application. The file, which becomes completely unusable for others after the transaction, eliminates the risks for investors.
The file, which can optionally be stored in a high-quality USB memory, becomes completely inaccessible to attackers. Thus, investors who know that their digital assets are safe, focus on new opportunities instead of security problems.
India thinks to ban all cryptocurrencies including Bitcoin
The government of India will present a bill to the parliament that prohibits all cryptocurrencies, especially Bitcoin.
Among the reasons India is considering banning all cryptocurrencies, including Bitcoin, is the claim that virtual currencies are not secure. However, with the developing technology, crypto coins continue to be preferred more among individual users.,
What is a blockchain?
“What is blockchain?” Which seems quite simple but can become increasingly complex in the search for answers. In the search for an answer to the question, we take a look at the relevant section of Blockchain 101 v.2, written by Ahmet Usta and Serkan Doğantekin.
As a result of the development of technology, we no longer have to save data in central systems. It is possible to keep as many copies of each data set we want and by distributing these copies. Now, the size of the data does not constitute an obstacle to be copied and distributed to many points, because we have very high-speed communication networks. In fact, it offers us the first stage required to enter the blockchain world.
If we repeat; first we had a single copy of a recording, then we distributed it to several computers, then we distributed many copies of this record to many computers, finally each computer where the term computer now includes smart mobile phones and other electronic devices that can connect to the internet, the transaction has become to keep a record. The main reason for this is that costs have dropped drastically over time.
This approach is called Distributed Ledger. We explained that this concept is not a new concept and has been used in the past on networks such as eDonkey or Bittorrent. However, the common problem with these networks is that the data stored on them is usually not encrypted. Therefore, this data can be accessed by anyone.
At this point, it may be possible to encrypt the data (cryptography) and transfer it to distributed records, but in this case, nobody except the person / party encrypting the data will be able to benefit from this data. In addition, if data changes at one of the network points in any way, inconsistent situations may arise even if our data is encrypted. This situation takes us to the second stage.
Blockchain.com is a cryptocurrency wallet and a cryptocurrency exchange that supports Bitcoin, Bitcoin Cash and Ethereum, as well as a Bitcoin block explorer service. They also provide Bitcoin data charts, statistics, and market information.