What online services provide reliable storage of Bitcoins?

2017-03-15 00:00:00:

The safety of cryptocurrencies, one of the important challenges of the Bitcoin community. The article will focus on resources offering online virtual storage services.

There are many ways to securely store Bitcoins using online services, and each of them has unique characteristics. Some of them will be convenient, the second is much faster, while the third practically guarantees the security of the stored cryptocurrency. We’ll try to figure out what they are.

Online Services

The least reliable are considered exchange services. You can regularly hear that Bitcoin theft occurred on them. In addition, there is no guarantee that you will give your money into the hands of some official company, and not to a private person who will collect money tomorrow and leave for an unknown destination. Many exchange platforms reveal only the nicknames of their owners, so no one is immune from financial losses. And even if you use a well-known service with a good reputation, hackers can crack them. So, many exchangers store money in a hot wallet, which is at risk of cybercriminals attack.

Thus, try not to trust a lot of money for online services or deal only with sites that have been proven over the years. It’s convenient to work on them, but no one guarantees the safety of your funds. Immediately after buying Bitcoins on an Internet platform, withdraw them to your offline wallet. If you are mining, set the automatic withdrawal of funds when the minimum threshold is reached, do not leave them on the service. For greater reliability, users are better off using two-factor authentication and strong passwords.

Bitcoin exchanges

To make the online wallet full, periodically users have to use trading platforms. But exchanges in recent years have been repeatedly attacked, so you should not trust them with large amounts of money. Immediately after the sale of Bitcoins, do not keep funds on them, and after buying the cryptocurrency, send them immediately to cold storage. We recommend using the services of exchanges with a large monthly turnover:

• BTC China is a Chinese exchange where trading volumes reach nearly 300 million dollars.
• WEX platform with Russian-language services and up to $ 120 million.

The Chinese offer to trade only in RMB, and three sites based in China are among the five leaders of the global market. For Russian-speaking users, it is better to stay on the BTC-E platform, which has a Russian interface.

Online Wallets

Online Bitcoin wallet carries risks, but also offers a number of advantages. So, each of them has an accessible interface that is accessible even to a novice and performs all operations in a short time. But to protect against cybercriminals, it is better to use secure or hybrid wallets that do not contain secret keys. So, on the Blockchain.info website, users will have to enter a password in order to be able to use their account. And if something happens with the online platform, it only contains the image of the wallet. But still, be careful, because hackers can, with the help of special codes, take hold of your passwords. Therefore, give preference only to high-security online wallets that have earned an impeccable business reputation.