MUST READ:- How To Encrypt Your Bitcoin

Posted by E.L.E.X on April 24 2021 under Tech/Cybersecurity

The value of bitcoin is increasing rapidly because people move from physical platforms to digital platforms

Most people use online payment gateways for their day-to-day transactions and with increasing the use of digital currency it is essential to secure your digital currency.

In the case of physical currency, there is a risk of theft, there is a risk of damage, and more type of risk involved in the physical currency and same in the case of digital currency there is also the risk of online theft by hacking, username and password cracking, etc. and you need to protect your wallet from form these types of hackers.

Security is the main priority for every person who use a Bitcoin Power Login and, especially those who are using bitcoin. If you will careless with your bitcoin wallet your bitcoin may be stolen.

What Is Encryption?

Encryption means restriction to other users to access your account.

In simple words, encryption helps us to secure our accounts from unauthorized users. We use encryption in our daily life but we are not aware of it.

We use chatting apps like What’s App, Messenger, Instagram, Snapchat, and these platforms use encryption to protect your account from other users and another person cannot read your chat because your account is fully encrypted.

It is similar to the case of a bitcoin wallet.

The software which is used by the computer users is standard bitcoin core client software and in different devices, the interface may be different.

What Is The Wallet.Dat File?

Wallet.dat file is the bitcoin file that stores the information about your wallet. In simple words, wallet.dat file is that file which contains the sensitive information about your bitcoin wallet and contains the detail of your bitcoin ownership.

How To Encrypt Your Wallet

A passphrase is a powerful tool which is used to encrypt your wallet for security reason. Passphrase encryption will help you to lock your wallet account and it will restrict your account from spending bitcoin.

If the hacker will try to access your account he cannot move your funds because your account is encrypted and the reason is that he will not have a passphrase to decrypt your wallet.

This is the biggest advantage of encrypting your bitcoin wallet.

As we have discussed above wallet.dat file containing the sensitive information and ownership of your digital currency is not encrypted by default and if you will not encrypt your digital currency then the attacker can move your funds promptly.

Always keep in mind that when you install a new bitcoin core software on your desktop or laptop the encryption will not enable by default.

That is why you should encrypt your wallet with a passphrase and the good news for you is that the new core software is coming with the entire encryption feature which will help you to use a passphrase to protect your wallet.

But there are not the only options of using a passphrase for enabling encryption to your account but there are many other external options to encrypt your digital bitcoin wallet and many of them are free in the market.

So you can go with the free encryption tool which is also secure. If you are using a passphrase for encrypting your wallet then remember that you must enter the passphrase every time while logging in to your account.

Special Tip For You

Every user of the bitcoin client must use a strong password for encrypting their wallet. Your password must be difficult and should not be randomly guessed.

You can use Uppercase letter, you can use lowercase and numbers digits and a mainly special character such as !@#$%&*? that are too much secured and cannot be guessed.

But you must have to enter it manually every time you log in to your account.

Conclusion

From the above information, we have learned that how much encryption is important how you can encrypt your account.

The biggest advantage of encrypting your account is that if any unauthorized user accessed your wallet by mistake or intentionally then they cannot use your funds or he cannot move your funds as your account is fully encrypted.

You can protect your wallet.dat file which contains sensitive information and ownership of your digital bitcoin currency.