Bitcoin Mining and Security, Part 2

Let’s summarize about crypto security and, if necessary, see Part 1.

Bitcoin security is important. Your bitcoin or any other cryptocurrency has a unique address or identification or private key. Therefore, you need to realize how important it is to keep it. If you lose it, it is difficult to recover, hence the need to secure it as best you can.

I must make this clear, because security must be paramount and must not be taken lightly.

There are countless stories of people who lost access to their computers (whether through negligence or abuse) and ultimately failed to recover their bitcoins or other cryptocurrencies. This should be equivalent to leaving your wallet vulnerable either through a pickpocket or through carelessness when you are outside.

Fortunately, there is a way to be a double protector of your assets. A secure hardware wallet will ensure that if you unfortunately lose access to your computer or tablet, etc., (in any way) you will be able to recover your bitcoins, ethereum, litecoin, etc.

A hardware wallet allows you to recover your cryptocurrency on any other computer, as this is essentially a USB connection that you use to secure your transactions.

Second level of security.

Trezor is the original hardware wallet and is easy to set up for your bitcoin security. There are other products available, but for the rest of this article I decided to focus on the Trezor hardware portfolio.

The basic principle for the security of Trezors’ bitcoin is zero trust.

Using the Trezor screen, you can independently check and physically confirm each transaction directly on your device.

It also requires a pin from you every time you enter. This way you ensure that you are present at all times.

As a single-use device, there are no other features in the wallet.

Simply equals extra security.

Trezor is no exception to the risk of malware or viruses, period. However, the fewer devices Trezor communicates, ie. there is no Bluetooth, wifi or Qr code scanning, so the simpler the communication protocol, the more secure your bitcoin security.

In addition, the Trezor has no battery. When it is turned off, it is turned off and your coins are safe from any cyber attack.

I hope I have emphasized the importance of bitcoin security. The main problems are zero trust and concrete security. Also make sure that your backup process is just as secure, ie. if necessary, make sure your data is available to someone you explicitly trust.