A cryptocurrency backup is one of the procedures that every user must carry out to guarantee access to their account and funds in case of an emergency. Therefore, here we explain how to do it quickly and easily.
¿Q Do you want to make sure that your cryptocurrencies, be safe? Don't worry! Make a Backup It doesn't have to be an odyssey or anything complicated. Just follow these recommendations and keep good practices. In this way, you can have the peace of mind that your funds will be safe and nothing bad will happen.
To help you in these cases, we have created a small guide to explain how to make a backup copy of your cryptocurrencies and achieve that peace of mind that you are looking for so much.
Main considerations for making a backup or backup of cryptocurrencies
First: the security of your cryptocurrencies should depend only on you
The first measure to make a backup of cryptocurrencies, es make sure that security depends only on you. Remember that one of the reasons for the creation of cryptocurrencies is regain control over money. For example, if you want to make a transaction of 10.000 euros but your bank only allows you a maximum of 5.000 euros, who really controls your money and what can you do with it, you or the bank? The answer is obvious and the truth is that in Bitcoin there are no such limits. In fact, there are no limits of any kind, you have complete freedom to do what you want with your money.
Well, that same freedom applies to the issue of security. Cryptocurrencies allow you not to need intermediaries to manage your money. Therefore, the security and management of your funds depend only on you. Therefore, use well-known cryptocurrency wallets, such as Exodus, Jaxx, Coinomi o Bitpay. Also remember that it is important to keep them updated to avoid software bugs affecting you and only trust updates that come from official sites. Always keep in mind the maxim: do not trust, verify.
In addition, do not trust third-party services that are offered as a safe store for your keys. In fact, do not put your private keys or the seed of your wallet on the Internet. Doing so could lead to a serious security issue that you could pay for with the loss of your cryptocurrency.
Taking this first point into account, the fullfilment of security requirements your cryptocurrencies will always be in your hands.
Second: Securely store your wallet seed or private key.
The seed of a cryptocurrency purse is most sensitive piece of information you can have. This series of 12 to 24 words will allow you to quickly and safely back up all the information in your wallet. That's why it's important to write it down and store it in places that only you know about and that are safe. If your wallet does not generate a seed key, take the private key instead and save it.
There are several ways to securely store a private key or seed words. From using an encrypted digital media stored in a memory, sending that information to a personal email strongly encrypted and obfuscated in another file, storing the information in an encrypted QR image or making regular copies of your entire wallet. All of these are effective means of backup, but the simplest It will only ask you for a pencil and paper to do it successfully and for this reason we will explain it to you below.
The best way to accomplish this is as follows:
- Copy your seed or private key in its entirety on a small piece of paper. If you can use a metallic element to engrave the words, so much the better. In more extreme security cases, you can encrypt such content and copy the result of the encryption.
- Verify that the information is correct. Always remember the maxim: do not trust, verify.
- Protects the paper or the engraving element from external factors that could damage it. For example, paper can be laminated to prevent moisture or other factors from damaging it. In the case of metal, a chemical bath can protect it from corrosion. In extreme cases, you can use resins or bakelite to protect it.
- If you want, you can create at least two more copies and save them. In this way, in case you lose one, you will have access to two backup options.
- Finally, Keep copies in safe places.
Third: Keep your software updated at all times
This point is important because the software update of your wallet can bring about improvements for the sensitive data of your wallet. If, for example, there was a hard fork and there is a change in the way addresses are handled within the blockchain, updating and re-recording it may be the only way to maintain access to your cryptocurrencies. Besides, software updates will allow you to keep your wallet secure at all times.
Fourth: Avoid using hot wallets
All the hot wallets or hot purses They are cryptocurrency wallets that are always connected to the Internet. Using these types of wallets is a very bad idea and the reason is very simple: they are very susceptible to being hacked. That is why if you want to store some cryptocurrencies safely, avoid using these types of wallets. An example of these are Coinbase o Blockchain.com. The wallets of the exchanges also enter as Binance.
Instead, use a cold wallet. These cold wallets guarantee that your private key and data associated with your account are safe and stored only on your device. Wallets such as Coinomi, Exodus, Jaxx, Bitpay, Wasabi or Samourai are very secure wallets with cold storage capacity. Another option to securely store cryptocurrencies is to use a hardware wallet. Manufacturers like Legder y Trezor they have hardware wallets widely tested by the community and are very secure.
How much do you know, cryptonuta?
Is it true that our cryptocurrency funds will be completely lost if we don't have a backup of our seed or private key?TRUE!
One of the biggest advancements in cryptocurrency and blockchain technology is its security. This is true up to a level, that in case of losing access to your account and not having a backup of your seed or private key, you will completely lose your funds. There is no way to recover them, it is practically impossible to do so. Hence the importance of making cryptocurrency backups at all times.
Other important things to keep in mind when backing up your cryptocurrencies
Other considerations that are good to keep in mind with this process are the following:
- If you plan to use encryption to protect your seed information or private key, be sure to use a strong algorithm. With encryption, you can store your wallet information securely on a digital device. After all, the only way to access that data is by knowing the key that only you know. One of the most secure encryption algorithms is AES-256, considered military level. But you can also use Blowfish o Serpent, which will also guarantee high security.
- If you use encryption, remember to apply a hashing algorithm to your seed words or backup digital files. With this, you will be able to check the integrity of the data at all times and know if the encryption or storage process has damaged that information in any way. One of the most common algorithms for this is SHA-256, the same one that Bitcoin uses for its mining. It is easy to use, very fast and offers high security for these tasks.