BTC has now settled over 10,000 USD per BTC. In fact, as I mentioned in my previous posts now the price volatility per day has crossed more than 1K per day.
Now we can expect a price movement of 3K,4K or even 6K per day. My next target will be 20,000 USD per BTC by end of January 2018. If it can hit before end of this year, it will be great, but will expect maximum till 16K or 18K by end of this year.
In this post I mention some security measures to protect cryptos. This is broad topic and hence, there is no 100% guaranteed method to protect and hence, I will explain few common and advanced techniques in my experience Also, I will keep posting more security tips in my future posts.
Common steps: ************ 1.You should always make sure that your computer is always updated as well as your anti-virus must be updated and a paid antivirus is always better. It is better not to use antivirus rather than using a free anti virus which may act as virus. But for windows 10 , the windows defender should work fine. 2.Always keep your private keys safe with you. 3.Always, try to use the basis software or the core software of every cryptocurrency from the official website. 4.Try to avoid using any exchanges to store crypto. Exchanges are always for exchanging cryptos, but for storing cryptos only the original software should be used like for example for Bitcoin use the Bitcoin core software from bitcoin.org website.
Now, few advanced tips from my experience. 1.Never keep all your cryptos in one wallet or one exchange or any one source by which in case if you loose or someone hacks into it by any means, then all money will be gone. So diversification is the 99% guaranteed way to protect at least 60 to 70% of your cryptos. If you diversify your cryptos in different wallets at least 2 to 3 wallets so that in case of any emergency or hack you will not loose everything. 2. If you are serious about investing in cryptos, then try to assign a dedicated computer or laptop where you use only cryptos and never ever access any website or email or anything from that computer or laptop in order to completely avoid any chances of cyber attack. Keep that computer always offline except for the time when you want to send or receive cryptos. 3. Also, it is better to diversify the investment in various other crytos instead of putting all money in one crypto to protect yourself from a blockchain hack if it happens in future. It is difficult, but still to avoid such a situation and to bring more safety diversifying the investment in multiple cryptos will be better.
You are welcome. But if you are using a free anti-virus from a branded and well known company, then it should work fine though there is no guarantee even with a paid antivirus as long as you are keeping it up to date.
Now, BTC price is nearly 15K now. I hope it will hit my nearest target 16K by end of this year or may be even hit my next target 18K.
These are the two price zones. If it hits 16K by end of December, then I will expect a price high of at least 30K by end of January and if it hits 18K, then I will expect a price high of 35K by end of January.
Hzardous posted: @leo23 can you share your insights regarding the issue surrounding bitfinex and tether?
I am sorry I don't have more information about the issue. I just read somewhere regarding the security issues in Bitfinex related to tether, but I forget what exactly it is and I ignored it, because I rarely use Tether and also, very few times used Bitfinex.
But I will repeat for everyone is 'NEVER STORE ANY CRYPTO IN ANY EXCHANGE'. I mean crypto exchange is for exchanging cryptos, but not for storing. Cryptos must be stored only in official wallet of the original coin or best option is to store in a hard wallet.
As I mentioned here in this thread regarding security few days back that hacks will continue to happen and unfortunately, yesterday 65 MILLION USD worth of Bitcoin hack happened which is around 4700 BTC from a mining company called nicehash.
Since BTC price has now reached around 16K and most probably reach 18K also may be within few days or weeks and hence, more demand and more price increase and even more hacks may happen.
My next BTC target of course is 20K per BTC within few weeks, but I have to see if it can reach within this month, but most probably 18K can be easily reached.
There has been yet another theft. NiceHash, one of the major bitcoin mining pools, reported a security breach resulting in hackers stealing a yet unestablished quantity of bitcoins. (https://www.forexbrokerz.com/news/Hackers-steal-Bitcoins-worth-over-73-mln-from-NiceHash-pool) According to users, 4,736.42 BTC – an amount worth more than $73 million at current prices – has been stolen. It is not entirely clear yet what happened, but apparently the hackers have found a security vulnerability and have exploited it.
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