Cryptocurrency is getting more and more popular and that means you should secure your coins better to avoid losing them. The safety issue is very important in the wake of targeted attacks at specific cryptocurrency wallets and holders.
To be secured from crypto thieves follow these steps:
Secure Your PC
Use firewalls and keep all of your antivirus programs up to date. Do everything you can to secure your computer, because It only takes just one security vulnerability to have your computer hacked.
Also, use a secure operating system like Linux or Unix.
Use PC or mobile device only for buying and selling cryptos. This will add extra security layer. Devices that are used for surfing, work and pleasure activities are more likely to become infected with everything from viruses to ransomware.
Encrypt your data
You can easily Encrypt your data on a Linux based system. Simply use Cryptsetup or LUKS encryption apps to set this up. If you insist on using a windows based PC, you can use VeraCrypt. People using mac can use FileCrypt.
Backup Your Data
Make your backup files, because if your computer or any other hardware cryptocurrency wallet will be broken, you will have backup files and you will be able to restore it, however, without a backup file, your digital currency will be lost forever.
Use Cold wallets
Cold wallets are the best for people who want to store a significant amount of digital money.
Cold wallets are also paper wallets (paper wallets are the best and the safest for a long-term digital money storage) and hardware wallets. Both of them are offline, so that means they are very safe.
Stay Safe Online
Stay away from clicking links from unknown entities, enter sensitive information on secure https based websites, avoid surfing malicious websites and don’t download or execute any file whose source you’re not sure of and remove flash players, because these tend to be high-risk apps.
Make complex passwords
Do not be lazy with passwords, if you own a lot of cryptocurrency coins. setup a two-factor authentication system. This essentially means double layer protection on top of your passwords. So, if someone, for instance, were to hack your account and wants to change your password, you would be notified via email, text messages and even an automated call.
Cryptography was made in the Second World War out of the need for secure communication. Over the past years, cryptography has evolved in the computer science and digital era with elements of a mathematical theory to become a way to secure communications, information and money online.
Cryptocurrencies are built on cryptography standards.
Bitcoin is the very first cryptocurrency.
History of Cryptocurrency
In 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. Later, in 1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.
In 1996 the NSA published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash, describing a Cryptocurrency system first publishing it in a MIT mailing list and later in 1997, in The American Law Review (Vol. 46, Issue 4).
In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system. Shortly thereafter, Nick Szabo created "bit gold". Like bitcoin and other cryptocurrencies that would follow it, bit gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo.
The first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, with its proof-of-work scheme. In April 2011, Namecoin was created as an attempt at forming a decentralized DNS, which would make internet censorship very difficult. Soon after, in October 2011, Litecoin was released. It was the first successful cryptocurrency to use a script as its hash function instead of SHA-256. Another notable cryptocurrency, Peercoin was the first to use a proof-of-work/proof-of-stake hybrid. IOTA was the first cryptocurrency not based on a blockchain, and instead uses the Tangle. Built on a custom blockchain, The Divi Project allows for easy exchange between currencies from within the wallet and the ability to use personally identifying information for transactions. Many other cryptocurrencies have been created though few have been successful, as they have brought little in the way of technical innovation. On 6 August 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. The study was also to report on whether regulation should be considered.
Sources:
https://en.wikipedia.org/wiki/Cryptocurrency
https://bitcoinexchangeguide.com/cryptocurrency-security-guide/
https://www.genesis-mining.com/the-history-of-bitcoin
Is cryptocurrency scam?
Cryptocurrency is not a scam, because It is 100% open source, that means it is cryptocurrency with source code that anyone can inspect, modify, and enhance. There are a lot of scam companies, websites and scammers, that wants to steal your digital money - bitconnect is one of them, but that does not mean that cryptocurrency itself is a scam. Just stay away from scammers, and use a lot of security layers like two-factor authentication and additional pin code requirements every time a wallet application gets opened and everything will be just fine.How safe and secure is cryptocurrency?
It depends on you, how much research you do before using any cryptocurrency. But all cryptocurrencies are designed to be safer than any other money in theory, but with so many recent events, it’s a toss-up nowadays. A cryptocurrency uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature.To be secured from crypto thieves follow these steps:
Secure Your PC
Use firewalls and keep all of your antivirus programs up to date. Do everything you can to secure your computer, because It only takes just one security vulnerability to have your computer hacked.
Also, use a secure operating system like Linux or Unix.
Use PC or mobile device only for buying and selling cryptos. This will add extra security layer. Devices that are used for surfing, work and pleasure activities are more likely to become infected with everything from viruses to ransomware.
Encrypt your data
You can easily Encrypt your data on a Linux based system. Simply use Cryptsetup or LUKS encryption apps to set this up. If you insist on using a windows based PC, you can use VeraCrypt. People using mac can use FileCrypt.
Backup Your Data
Make your backup files, because if your computer or any other hardware cryptocurrency wallet will be broken, you will have backup files and you will be able to restore it, however, without a backup file, your digital currency will be lost forever.
Use Cold wallets
Cold wallets are the best for people who want to store a significant amount of digital money.
Cold wallets are also paper wallets (paper wallets are the best and the safest for a long-term digital money storage) and hardware wallets. Both of them are offline, so that means they are very safe.
Stay Safe Online
Stay away from clicking links from unknown entities, enter sensitive information on secure https based websites, avoid surfing malicious websites and don’t download or execute any file whose source you’re not sure of and remove flash players, because these tend to be high-risk apps.
Make complex passwords
Do not be lazy with passwords, if you own a lot of cryptocurrency coins. setup a two-factor authentication system. This essentially means double layer protection on top of your passwords. So, if someone, for instance, were to hack your account and wants to change your password, you would be notified via email, text messages and even an automated call.
How is cryptocurrency made?
Cryptocurrencies are built on cryptography standards.
Bitcoin is the very first cryptocurrency.
History of Cryptocurrency
In 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. Later, in 1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.
In 1996 the NSA published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash, describing a Cryptocurrency system first publishing it in a MIT mailing list and later in 1997, in The American Law Review (Vol. 46, Issue 4).
In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system. Shortly thereafter, Nick Szabo created "bit gold". Like bitcoin and other cryptocurrencies that would follow it, bit gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo.
The first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, with its proof-of-work scheme. In April 2011, Namecoin was created as an attempt at forming a decentralized DNS, which would make internet censorship very difficult. Soon after, in October 2011, Litecoin was released. It was the first successful cryptocurrency to use a script as its hash function instead of SHA-256. Another notable cryptocurrency, Peercoin was the first to use a proof-of-work/proof-of-stake hybrid. IOTA was the first cryptocurrency not based on a blockchain, and instead uses the Tangle. Built on a custom blockchain, The Divi Project allows for easy exchange between currencies from within the wallet and the ability to use personally identifying information for transactions. Many other cryptocurrencies have been created though few have been successful, as they have brought little in the way of technical innovation. On 6 August 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. The study was also to report on whether regulation should be considered.
Sources:
https://en.wikipedia.org/wiki/Cryptocurrency
https://bitcoinexchangeguide.com/cryptocurrency-security-guide/
https://www.genesis-mining.com/the-history-of-bitcoin
