Litecoin wallet options
Gotten yourself a couple of bitcoins and trying to find a way to keep them safe? Just like a regular wallet,you have to take precaution with your bitcoin wallet since you don’t want to lose your money. It may seem a bit difficult to protect a virtual wallet,but if done properly you can definitely secure it. The following guide will explain a few practices you can do to keep your virtual coins safe and sound.
Keep Only a Small Amount of Bitcoins in Your Wallet
In having a wallet,whether a virtual or physical one,you wouldn’t want to have all of your money in it since if you lose your wallet… you are broke. Therefore,it is advised that you store only a few coins on your phone or computer which will be your everyday spending money. The rest should be kept secure at another location.
Online Wallets
This is a web-based wallet that stores your private bitcoin key online. This means your coins are controlled by someone other than you. In addition,it can place great power into the hands of the organization that runs your online wallet because they have the private key. On the other side,having a web based wallet is a good for when you want to have access to your bitcoins anywhere at any time. Here are a couple of known online wallet sites:, ,. Out of these three,Strongcoin is the only one that allows you to encrypt your private keys before sending them online,offering a bit more security.
Encrypt Your BTC Wallet
A basic,yet imperfective way to protect your coins is to encrypt your wallet. Encrypting means setting a very strong (at least 16 letter) password with capital letters,punctuation marks,numbers,etc. This helps against most robbing mishaps,however there are limitations:
- Hackers could use a software to log your keystrokes…hence even if you have a super strong password,it can still be hacked.
- If you forget your password….let’s just say you are not seeing your coins again.
