Monthly Archives: January 2014

On Bitcoin Wallets and How to Secure Them

When talking about bitcoin wallet security, there are three things to consider:

  1. the most obvious: theft, either online or in person;
  2. losing your computer, USB key or papers containing your bitcoin (BTC) data, and
  3. obsolescence of BTC software.

There are also several use-cases to consider:

  1. the system you use to spend your bitcoins. This would be a BTC wallet on your smartphone – the equivalent of the wallet that holds your cash and credit cards.
  2. a system for keeping BTC accessible, but not necessarily in your smartphone wallet – the equivalent of a drawer, box or safe that you keep at home, with cash for emergencies, and
  3. a system to secure the bulk of your BTC savings – the equivalent of your bank and/or investment accounts.

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