New currencies inevitably bring about new methods of theft – and new methods of protection. The cryptocurrency market wrought by Bitcoin has enticed hackers and thieves the world over to find ways to access your valuable online funds and use them for their own ends. A general rule of thumb has previously been to use as many passwords, signatures, and authorization requests as possible in order to prevent thieves from getting into your cache. This has been a helpful rule until now. However,new biometric identification technology is set to change this. By using biometric protection as your Bitcoin security, you will make it virtually impossible for thieves to break into your bank.
Multiple Shields Require Multiple Forms of Attack
Using different kinds of protective measures pushes hackers to approach your Bitcoin wallet from multiple points, which pushes thieves to become clever. A strong starting point for security used to be a strong password, but biometric countermeasures have rendered passwords obsolete. Keeping your Bitcoin inside a password-protected wallet is a thing of the past, because the possibility of hackers figuring out your password is a real one; this is why you should do away with passwords altogether, and keep your cryptocurrency tied to your unique bio-signature. A password can be replicated; your biometric signature cannot be copied.
In the cyber world, where hackers and thieves can follow information with ease in an attempt to figure out passwords, the best defense is to forego passwords and move important things beyond the online walls. Many Bitcoin owners do this by storing their funds in an offline computer or wallet, in a computer that does not connect to the internet; the idea is to use two computers to authorize the movement of funds. The offline computer stores the funds and allows the transaction to be signed; all the online computer does is create an unsigned transaction that is then saved to a USB device and moved to the offline computer. When the unsigned transaction is loaded to the offline computer, there is no way for a hacker to get to the signed version because it is signed offline; the online computer finishes the job by sending the signed transaction where it needs to go. Add your biometric signature to this process, and it becomes virtually impossible to break into your bank(s). It is a complicated process, but the more complicated things are, the more difficult they are to figure out. That’s good for security.
Biometric Identification Technology Provides All the Protection You Need
Your biometric signature can be used to lock all the devices you use to access Bitcoin, and it can even be one of the signatures required to move your funds. With your unique biometric signature screening every step of the Bitcoin transfer process, it becomes virtually impossible for anyone other than yourself to access your valuable funds. Think of your biometric signature as a protective barrier that only you can pass through.
This is exactly what biometric identification technology is made to do: replace the methods of protection and encryption that already exist. It is made to be the core of your security measures. Augmenting all your devices and wallets with biometric tech will stop thieves in their tracks and keep your cryptocurrency away from any hands but your own.