As a general rule, you will use a computer program such as a purse and Bitcoin client, and you will do it through your computer or Smartphone. In other words, with this program, you will store your private keys and operate with them through the movement of your bit coins.
Well, in this case, worry that everything your computer or mobile phone has is updated and free of malware of any kind. Do you use a web wallet? Your operating system may be infected or outdated, the browser may have a malicious extension that you do not know, and do you use an installable program? The wallet may be outdated, maybe you downloaded a program or compromised update, within your computer or phone you can have another application corrupt or updated in the future automatically and infected to copy your private keys,…
Encrypt your private keys
- Currently, any purse program worth its salt will create your private keys automatically. Not everyone follows good practices in the creation of these private keys, avoiding that it is easy to replicate, but the best known if they do so.
- What is important to understand is that once created, they are stored on your device in plain text. In some file or an internal database.
- Wallets that incorporate good practices to prevent this have the option of encrypting the file where they keep your keys.
- I suppose that at this point, 1 btc to usd and after reading the Bit coin Bit2me Guide chapter of How to store bit coins, you will understand what danger there is if someone obtains these flat texts. Effectively, you run out of bit coins.
- However, the same purses usually have a process to encrypt the private key with a password or “PIN”, that way at the time of making a shipment will ask for it, but if someone steals private keys you should know that key. This means that your private key is modified based on that password or PIN, no longer useful as is.
- The bad part is that if someone gets encrypted private keys can use brute force for days, months (or the time it takes) without you realize, could get to decipher them. And in mobile phone purses is even simpler, because a 4-digit PIN code is deciphered in a matter of minutes, and all without any kind of warning that your keys have been compromised.