4 Steps to Keeping Your Bitcoins Safe

Use these 4 steps to avoid theft and keep your Bitcoins safe.

Step 1 – Select a strong password for your Bitcoin wallet

Table of Contents

Step 1 – Select a strong password for your Bitcoin wallet
Step 2 – Use 2 factor authentication
Step 3 – Backup your Bitcoin wallet
Step 4 – Use cold storage for large amounts of Bitcoins

Many people get into the habit of choosing the same password for all of their online accounts. This puts your Bitcoins at risk. Choose a strong password for your Bitcoin wallet. You can use software like 1password or Roboform to create and store your passwords for you – this way you will never use the same password twice ever again.

Step 2 – Use 2 factor authentication

Most online Bitcoin wallets provide the option of a 2 factor authentication process. This means that whenever you log on you’re required to authenticate yourself with an additional step other than your password. Most of the time this will be a verification text message sent to your phone. Even though this may feel cumbersome at times, using 2 factor authentication reduces the risk of theft drastically.

Step 3 – Backup your Bitcoin wallet

A backup of your wallet can protect you against computer failures and many human mistakes. It can also allow you to recover your wallet after your mobile or computer was stolen if you keep your wallet encrypted.

Step 4 – Use cold storage for large amounts of Bitcoins

If your wallet stores a large amount of Bitcoins make sure to keep it in what is known as cold storage. Cold storage means your wallet isn’t present on the web or on any other computer. An example for cold storage could be a paper wallet or a flash drive that has your private key encrypted on it.

About
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Ofir Beigel

Owner at 99 Coins ltd.

Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

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18 Comments

Megan m on May 27, 2017 03:54

Are there any digital mining opportunities you can recommend? I thought I saw some that would pay out to your bitcoin wallet after paying a fee. It sounds good but I don’t know if it’s got a worthwhile return and then they promote more speed or power to mine more for extra money. Are these profitable and how long do they last for? I couldn’t figure it out and don’t have much money to risk. Thanks!

- Zsofia - 99Bitcoins support on May 27, 2017 09:24
  
  Hi Megan, I suggest you to read this article about cloud mining before jumping into a contract. https://99bitcoins.com/cloud-mining-profitable-just-evolution-scam/
  
  - Megan on May 31, 2017 23:48
    
    Oh wow, what great insight to all of the mining questions I had, thank you for all That insight and I’m glad I haven’t joined a mining pool, bought mining contracts or anything of the like. Still a firm believer in the Bitcoin though, and believe it has much much more to rise in value! Thanks!!
    Megan M.
    
Monday Emmanuel on March 2, 2017 21:38

How can I buy bitcoin from Nigeria and who are the certified agent to meet for transaction so that I will not be played as a beginner.Pls help.

- Zsofia - 99Bitcoins support on March 3, 2017 09:11
  
  Hi, I recommend the Crash Course for you, you can sign it up on the front page, it should have all the necessary information for you.
  
Mike on February 18, 2017 17:12

First and foremost I will like to say thanks and appreciate you’re enlightment about bitcoins.. Just wanted to ask, can I have multiple transactions of bitcoins sent to my wallet?

- Zsofia - 99Bitcoins support on February 19, 2017 10:24
  
  Yes, you can have multiple transaction sent to one Bitcoin account. You can read more about Bitcoin transactions here: https://99bitcoins.com/how-to-read-a-bitcoin-transaction/
  
Emmanuel on January 28, 2017 00:15

Thanks sir. You are really doing a great job teaching all this great things thank you

- Zsofia Elek on January 28, 2017 11:10
  
  Thank you for your feedback Emmanuel!
  
  Zsofia (customer support 99Bitcoins)
  
Bright on January 12, 2017 09:39

Thanks bro…..I have gained a lot from the lessons.

Hasher John on October 10, 2016 04:00

Hi ofir,

Good day.

at the beginning of the lesson. after i subscribed. your email said that i could GET YOUR $27 BITCOIN for free.

will, i finish 7 lessons and I still don’t have the free.

hash,

- Ofir Beigel on October 10, 2016 10:03
  
  Hello Hasher, when you sign up we offer you to get this course which is worth $27 for free, we do not send out $27 worth of Bitcoins. Hope this clears things up a bit.
  
Larry M on October 9, 2016 13:56

Please how do you backup, your bitcoin wallet. I have mine on blockchain.

- Ofir Beigel on October 9, 2016 17:19
  
  Here you go:
  https://99bitcoins.com/backup-bitcoin-wallet/
  
Heather on January 10, 2016 01:42

This is probably going to sound like a really silly question… I am trying to send the email to get the free start up bit coins. is the public wallet name the really long number/letter sequence or my email address (username)?

- Ofir Beigel on January 10, 2016 11:59
  
  Hey Heather, there’s no such thing as a stupid question :) And it’s the long number/letter sequence. For example this is my public address: 1GrwYYTDJic27cstVCjzS8Muvutw6JUYqB
  
Alex on November 23, 2015 22:12

I still have yet to reseave my free bitcoin

- Ofir Beigel on November 23, 2015 22:42
  
  Hey Alex. Please contact us on this page and let us know your public Bitcoin address. Thanks