This will seem counter intuitive. In the modern world with all the technology & gadgets we recommend, nay urge you, to write everything down (logins, passwords, wallet numbers, etc ) in a BOOK!
It seems even stranger when we are talking about investing in the latest technology with Blockchains & Cryptocurrencies.
It is important that you do not store ANY personal information, including login and password details on ANY electronic device.
People ask: “If the blockchains are so secure, why do I read so much about Bitcoin being hacked”?
Blockchains are safe and have never been hacked.
The weakness in the system is when you buy and especially where you store your coins. If you keep them in an online wallet or your laptop or phone, sophisticated hackers will try to steal them.
Do not keep them anywhere that can connect to the internet. Later on, we will explain how to store them in an offline wallet. We have bought a few of them and will review them for you.
For now, let’s focus on preparing your “back office” and set up all the security measures for the whole process before you consider buying anything.
As cryptocurrencies become more popular, there is an increase of hackers trying to gain access so it is extremely important that you write everything down, away from the internet.
Write Everything Down
We recommend that you store all your information offline, in a paper notebook and keep it inside a safe
As a safety measure…
You should have a back-up notebook, essentially a duplicate, containing all your login and password details. Remember, you are your own bank. This back-up book should be stored in a separate location, such as a safety deposit box in a bank. It is up to you to put the necessary precautions in place to protect your own investments.
We recommend that you store your new notebooks in distinct locations in case your house or office is affected by an act of mother nature, or any other destructive event such as a fire. If you keep both of your notebooks in the house and it sets on fire, you have no way of accessing your data!
We know that writing down all of this information in a notebook may seem like a hassle, however, it is the most secure way to keep your data safe and out of the hands of hackers.
You should also create a method by which your dependents can access them in the event of your demise. Consider including them in your will. You could also give different parts of the security puzzle to different family members.
In order to keep your accounts safe
Our first step in ensuring that you remain safe online is making sure that you avoid fake websites. To ensure your safety, we have included all the links that you need within these modules.
Make sure you only click on the links that we have provided throughout these modules to give you access to the correct, secure website.