Password Protection
Password protection and security
The first and most important step.
The most critical step in safeguarding your cryptocurrency!
People have lost roughly $140 billion in Bitcoin because they forgot their passwords or got locked out of accounts, and would-be millionaires are struggling to access their wallets.
One of the first things we recommend to all CTI members is a good password protection system.
Depending on how you have set up your Bitcoin wallet, you will likely need a password as part of its security. A good password is long and random. Some passwords need to be memorable, while other passwords can be conveniently stored in a password manager.
The most important thing you need to do to keep your Bitcoin safe is to never lose your 12 secret words. Back them up in several locations and OFFLINE.
As you start to work more online and in the crypto world, you will find yourself going crazy trying to remember all your user names and passwords. Or worse, you will use a simple password for everything which leaves you incredibly vulnerable.
Some things to keep in mind about passwords.
If you apply the rules above, you will be more secure online than 99% of the people out there.
The best way to handle passwords is to use a trusted application.
KeePass
CTI highly recommends KeePass as a starting point. You can find this at the well known and trusted Source Forge Site.
KeePass is 100% free shareware and open source
Open Source means that all the code is out in the open for anyone to see. This protects you against proprietary software with hidden ‘backdoors’ that can steal your passwords.
LastPass
Once you are comfortable with Keepass, consider getting LastPass as a backup and a convenience tool.
LastPass is an online password manager that automatically fills in saved logins and forms with the click of a button.
Once you save a password in LastPass, you’ll always have it when you need it; logging in is fast and easy.
How to Setup KeePass (Video)
How to Setup LastPass (Video)
Use Keepass to record all your passwords, welcome emails, important numbers, PINS, and notes. It is easy to search too.
Use Lastpass for efficiency, convenience, and as a backup, AFTER you have input passwords into Keepass.
We suggest that you carry on using the system that have now until you are comfortable with the new way of doing things.
It is important that you backup your KeePass information just in case your device is lost, stolen, or broken.
We hope that helps you get your passwords secure.
DISCLAIMER
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