How Do You Protect Your Bitcoins?
The best way to protect your bitcoins is to store them in a hardware wallet, but the vast majority of Bitcoin users inevitably store their money on a website or bitcoin exchange. The problem with storing your bitcoins on a website is that if your bitcoin passwords are compromised you can lose all of your money. It is common for hackers to find someones bitcoin password, then try that logging in to other bitcoin websites with that same password and email address. For this reason, it is vital to have a strong and unique password for all of your bitcoin accounts.
How Complex Should Bitcoin Passwords Be?
Bitcoin password should have a high level of entropy. Password entropy is a measurement of how random and unpredictable a password is. A good password is one that cannot be guessed in this lifetime. Tips for making a high entropy password:
- Minimum of 10 characters
- Include upper and lowercase letters
- Include numbers
- Include symbols
- Avoid using common words, or any real words at all
- Don’t use any part of your email, username or the website in your password.
- For example, here is the admin password to this website: Hu8.dJ9%32L#a2
Keep Track of All Your Bitcoin Accounts
Making password that are hard to guess also makes them difficult to remember, and with most users managing dozens of online accounts it can be a burden to keep all of them unique and secure. For that, we have password managers. A password manager is a program that stores and remembers all of your unique passwords for you.
Protect Your Bitcoins with Dashlane
Dashlane.com is a one stop shop for managing all of your passwords, digital wallets, receipts and sensitive information that you use online. Dashlane has tons of tools making it easy to secure all of your bitcoin trading accounts, and it couldn’t be easier to use. Here are some additional features:
- Rates how secure your password are based on Password Entropy
- Notifies you if you use the same password for more than one account
- Automatically change your passwords in just 1 click
- Keeps track of how long it has been since a password was changed
- Securely stores your personal info, credit cards, ID’s & receipts for easy access
- Auto-fills forms and logs into websites for you!
- Lets you share chosen passwords with family & coworkers
- Syncs all of your devices!
- Warns you of comprhomised passwords
- Built-in extensions for Google Chrome, Firefox & Internet Explorer
- The security dashboard makes it easy to monitor all of your accounts at once
From the password security center you can choose the accounts that are most valuable to you
“With Dashlane I know that all of my bitcoins are safe 24/7”
Dashlane is the best password manager I have found because it caters to all users. Anyone can use Dashlane to secure their digital wallets on one device for FREE. If you have several devices or a small business to secure, the cost is only $39.99 per year.