Let’s recap on cryptographic security and, if necessary, refer to Part 1.
Bitcoin security is important. Your bitcoin or any other cryptocurrency has a unique address or ID or private key. Therefore, you must realize the importance of keeping it safe. If you lose it, it is difficult to recover, hence the need to insure it to the best of your ability.
I need to emphasize this clearly, as security should be of the utmost importance and should not be taken lightly.
There are countless stories of people who have lost access to their computers (either through negligence or misdeeds) and have finally been unable to get their bitcoin or other cryptocurrency back. This has to be the equivalent of leaving your wallet vulnerable, either through pickpocketing or carelessness when you are out and about.
Fortunately, there is a way to doubly protect your assets. A secure hardware wallet will ensure that if you are unlucky enough to lose access to your computer or tablet, etc., (in any way) you have the ability to get your bitcoin, ethereum, litecoin, etc. back.
A hardware wallet allows you to retrieve your cryptocurrency on any other computer, as it is basically a USB connection that you use to secure your transactions.
A second level of security.
Trezor is the original hardware wallet and is easily configured for the security of your bitcoin. There are other products available, but for the remainder of this article I have decided to primarily deal with the Trezor hardware wallet.
Trezors’ main bitcoin security principle is one of zero trust.
Using the Trezor screen, you can independently verify and physically confirm each transaction directly on your device.
It also requires a PIN each time you log in. Therefore, you make sure that you are the one present at all times.
As a single-purpose device, there are no other functions in the wallet.
Simple equals greater security.
Trezor is no exception to the risk of malware or viruses, period. However, the fewer devices Trezor communicates, that is, there is no Bluetooth, wifi or Qr code scanning, so the simpler the communication protocol, the more secure the security of your bitcoin.
Also, Trezor has no battery. When unplugged, 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 issues are zero trust and concrete security. Also make sure your backup process is equally secure, that is, if necessary, make sure your data is accessible to someone you explicitly trust.
