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.

  • Never use the same password for everything. If a scammer gets your password you may find your bank accounts cleaned out for you one day.

  • Never type your passwords. There are key logger trojans out there that can track your key strokes and access your password if your PC security is weak.

  • Use longer passwords and change them now and then.

  • Use passwords with a combination of numbers and small and large case letters. Avoid symbols as some systems don’t accept them.

  • Two-Factor Authentication (2FA) works by adding an additional layer of security to your online accounts. It requires an additional login credential – beyond just the username and password – to gain account access, and getting that second credential requires access to something that belongs to you.

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)

Get KeePass

How to Setup LastPass (Video)

Get LastPass

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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Past results are not indicative of future performance. Trading through, and investing in, financial markets (FOREX, cryptocurrencies, stocks, options, etc) involves a large amount of risk. No individual should engage in any trading or investment activities unless they fully understand the risk associated with such activities. Any financial losses burdened by an individual from the decision to extrapolate the information conveyed through the services provided on this website to financial markets is solely the responsibility of the individual that enacted said decision. We at CryptoTechInvestor.com accept no liability for any losses incurred by any individual who decides to invest or trade in the financial markets, whether the said individual fully understood the risks or otherwise.

If you do decide to invest or trade in any financial markets that comes to your attention at our site or elsewhere, we urge you to invest or trade with money that, if lost, won’t have an impact on your day-to-day activities and your ability to uphold financial obligations (herein “risk capital”).

Invest at your own risk and do your own research and due diligence. You are 100% responsible for your gains and losses. No one else. Hopefully, you will see more gains than losses in your ventures.