10 Methods to Safeguard Your Cryptocurrency From Hackers

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10. Avoid using provider-hosted wallets

Wallets hosted on your laptop or desktop, as well as wallets hosted by providers, are other options for storing Bitcoin. Provider-hosted wallets are the worst option because you’re allowing them to store your private key on their servers, which you have no control over. This is the most popular option because it requires the least amount of technical knowledge.

This exposes your private key to a variety of threats, including a breach of the provider’s server, the provider going out of business, or even a government or other legal entity seizing control of the infrastructure. Use a hardware wallet, which is a USB-based device that encrypts and stores your private key and other pertinent information. Decryption is sometimes performed manually, which is much safer than other methods.


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