How Can I Secure My Bitcoin Wallet?
Since Bitcoin is decentralized, there is no authority to turn to if something happens to your Bitcoins. So, you must take measures to make your Bitcoin wallet more secure.
Choose a strong password to encrypt it and keep it away from prying eyes. Make sure your computer is never compromised by malware or thieves could log your keystrokes to access your wallet and steal your bitcoins.
Back it up
If your private keys stored in a wallet gets corrupted or lost, you will lose your Bitcoins forever. Backing up your wallet makes a copy of your private keys so that you can access your wallet through another device if necessary.
Multi-signature addresses allow multiple parties to sign a transaction increasing the security of your wallet. It is becoming increasingly popular. The required number of signatories can be agreed upon when the wallet is created.
Take it offline
If you don’t want to store your Bitcoin keys digitally there’s another option. It’s referred to as cold storage as you can store your private keys offline, so this isn’t prone to hackers. Many software wallets feature a cold storage option. Or, you could go completely analog and use paper wallets for offline storage.