Bitcoin and other digital currencies are very attractive to thieves

This is a guest post by Alena Vranova, CEO of SatoshiLabs, which oversees the TREZOR hardware Bitcoin wallet and myTREZOR Bitcoin web wallet.

    All store money is a target for thieves, and it always has been. But digital currencies like Bitcoin have always been very attractive to would-be thieves, especially since they can be accessed remotely.

    If you are one of the many people who have invested in or traded Bitcoin , which has seen a significant increase in its price in recent weeks , be aware that your Bitcoin wallet is now more vulnerable to theft than before.

     According to Kaspersky Lab, more than 6 million virus attacks were developed and carried out to steal Bitcoin from people’s wallets and computers. In addition, if even large enterprises and Bitcoin companies have been successfully attacked by hackers, then as a trader, how can you protect the Bitcoin security of you and your customers?

     There are many ways to try, but they all have their pros and cons. Common Bitcoin storage options are nothing more than the following three:

Software wallet

     The obvious advantage of software wallets is convenience: the process is very simple, similar to logging into a bank website. The security measures of software wallets are becoming more and more mature, but they are all very vulnerable to keylogger attacks, which may cause Bitcoin holders to lose all their Bitcoins.

Paper wallet

     Compared with software wallets, paper wallets are less vulnerable to hacker attacks, but they are inconvenient. The most common way to keep paper wallets is to lock them in a bank safe, but at the same time, they also lose the advantages of holding Bitcoin.

Hardware wallets

     Hardware wallets have the advantages of both paper wallets and software wallets. For Bitcoin, they can be stored away from computers and are easy to access. The safest hardware wallet is to store the secret key in a USB flash drive. In fact, for large amounts of Bitcoin, hardware wallets are indispensable because they are immune to keyloggers and are more convenient than paper wallets.

    The best security measures include keeping a low profile, revealing as little information as possible, and keeping your valuable assets yourself. Most importantly, stay up to date with the latest news: Just like successful investors, you should take advantage of the latest security technology and news to prevent disasters.