Secure cryptocurrency with BitOk iUSB wallet . Part -introduction.
In our modern times the part of money has moved into the virtual environment allowing for the person being in any place of the world to make purchases easily. For doing this there are a lot of various e-wallets which make process of purchasing much faster and more satisfying. Such solutions are well developed and demanded in Europe and United States, although we have some restrictions on using these technologies in the rest of the world, they still keep developing and improving. Let’s learn about pros and cons of using the e-wallets and what you can get by using it.
The main purpose of almost all such wallets is online checkout processing that eliminates all inconveniences and troubles which could occur when the money is passed from hands to hands. There is a list of the most popular systems in Russia: WalletOne, WebMoney, PayPal, Qiwi, Rapida, Perfect Money, Payeer, YandexMoney. All of these can process a lot of financial operations from online purchases to transferring the money to someones bank account. All you’ll need is a computer or a smartphone with an access to the internet.
The key question in the world of internet payments is security and safety of the users private data. It’s not secret to anyone that a lot of private data is being leaked, sold and the passwords are being cracked. The most frequently, e-wallets working with the digital currencies like Bitcoin and other become the victims of such fraudulent actions. The price of these assets constantly grows so does the count of those who’d love to steal your money without a significant effort. Although the most e-wallets have a lot of security features like 2-factor authentication, wallet backup, confirming the operations by using the mobile phone and encryption, the risks are still high. Most often, user himself provides hackers a way to leak his data, so they have access to money.
Albeit the most services and wallet creators speak about their ultra-high reliability and security of their products, there are always flaws and possibilities to break into the most secure systems. Malware and the various keylogging software play a great role in that by quietly stealing and sending the passwords and keys to hackers. Considering that the progress doesn’t stop, so doesn’t the malware. Leaked information would be used against you. Besides of that, there is always a chance to use the features designed to protect you against themselves. Here’s an example starring Paypal. Lets suppose you need to sell your Bitcoins and receive money to your Paypal account. The guy who bought from you will receive your bitcoins and will open a dispute on Paypal about payment troubles. As a result, the money you supposed to receive from the buyer will be frozen, put in the hold and eventually returned to the buyer, leaving you with nothing. One more example — services for storing and transferring different digital currencies. They are mushrooming very fast, operate millions of dollars and once upon a time they just disappear leaving their ex-customers with nothing. Considering there is almost no legal regulations in such areas, the chances to return your hard-earned money are close to zero which puts you in an initially disadvantageous position and makes you play by someone else’s rules.
Nevertheless, if you use the e-wallet based on blockchain it’s recommended to install its client on your own PC instead of trusting any company that offers some services for this. By doing this, you will lower the chances of leaking your data, and only you will be responsible for your data safety. Keep in mind that all operations with cryptocurrencies are permanent and cannot be canceled in case you feel something fishy. Don’t keep your important stuff in one place, don’t contribute to your own deface by using the same address for all transactions, password, non-updated operating system. Try to save your wallet file in different places and by parts, the wallet itself is recommended to keep on the removable storage without any network connected. Periodically update your backups and limit access to them. It’s easy to lose your data, but it’s like an entire science of keeping it secure. Try to keep the process of maintaining your wallet in your hands, try to minimize your usage of the third-party and suspicious services.