SpyreStudios

Web Design and Development Magazine

  • Design
  • Showcase
  • Inspirational
  • Tutorials
  • CSS
  • Resources
  • Tools
  • UX
  • More
    • Mobile
    • Usability
    • HTML5
    • Business
    • Freebies
    • Giveaway
    • About SpyreStudios
    • Advertise On SpyreStudios
    • Get In Touch With Us

Tools You Should Know To Protect Bitcoin Transactions

April 28, 2020 by Spyrestudios

The option of cryptocurrencies or electronic currencies for websites is increasingly stronger as a mechanism for the purchase of products and services, not only on the Internet but also in some businesses that have begun to accept this means of payment. If you’re working on a crypto-related project or a client who accepts cryptocurrency payments, then you should know how to create a secure platform.

During the last edition of the ekoparty, Federico Cardoso gave a workshop on some tools to protect bitcoins and keep them safe. They were divided into three categories: cold storage, hardware wallets, and the multiuser option.

Each of these categories has a particular characteristic, which serves to increase security for the user. In the case of cold storage, it refers to keeping a copy of the bitcoins offline to prevent it from being stolen if someone manages to access the device where the wallet is housed over the Internet.

On the other hand, hardware wallets are devices designed to store user codes in encrypted form. These two options have in common the fact that they are most of the time in offline environments, while the multiuser option implements the need for multiple keys to authorize a transaction, the cryptotrader.software is one of the best tools used in cryptocurrencies.

We can find different tools that classify in one of the previous categories; here we tell you about some.

Armory: secure bitcoin management

Armory is an implementation in Python open-source which allows users to manage their wallets bitcoins safely. It is available to be implemented in the three most used operating systems: Windows, Mac OS X, and Linux.

Among the features that can be implemented is the option of making fragmented backups and also the possibility of keeping the wallet encrypted and out of the cloud, to reduce the risks of online attacks.

Armory developers are one of the pioneers in the cold storage model, where sensitive information is stored in a machine that remains without Internet access and transactions made through it only allows information on the status of a bill. This model manages to reduce the attack surface usable by an attacker to try to steal the information.

Electrum: speed-based model

Electrum is a thin client of Bitcoin that is based on a client-server protocol, in which the file containing the bitcoins is encrypted and the transactions were signed locally, that is, the private keys are not shared with the server. This GNU GPL v3 licensed model allows anyone to audit the code, reducing the chances of failure points.

But perhaps, Electrum’s main feature is speed, as it works in tandem with high-performance, redundant, decentralized servers that take care of the more complicated parts of the Bitcoin transaction system. It also allows the implementation of a multiuser model to divide the authorization of transactions between different actors.

blockchain.info: a secure online account

Blockchain.info offers the My Wallet service, which provides the facility to make payments around the world anonymously and free of charge, in a simple and secure way using a computer or a mobile device. This service uses AES encryption algorithms to protect the wallet from possible theft. Before being stored on the servers, the bitcoin information encrypts in 256-bit AES. In addition, the user can encrypt the account with a second password optionally, needing the primary one for the login and the secondary one to withdraw funds.

This model does not differ much from the operation of PayPal, that is, once the user starts a session, they have access to the balance and a list of recent transactions. This free service also allows you to implement a second authentication factor and make backup copies of the most sensitive information.

xapo.com: hybrid security model

Xapo combines the best of both worlds: the convenience of a wallet with the security of an offline storage vault. Bitcoins can be managed from a mobile application via email or even a debit card.

In addition to these facilities for use, bitcoins are stored encrypted on offline servers that will never be connected to the internet. Perhaps one of the features of this service is that Xapo’s servers are located behind reinforced concrete walls, a steel armored door, and a Faraday cage for blocking radio waves.

Filed Under: Tools Tagged With: bitcoin, cryptocurrency

Recent Posts

  • 31 Fresh Design Elements for Spring and Easter
  • 10 Templates for Music Concert Flyers
  • How to Build a Web Scraper Using Node.js
  • Best PHP Books, Courses and Tutorials in 2022
  • How to Get Your First Web Design Client

Archives

  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • May 2008
  • April 2008

Categories

  • Accessibility
  • Android
  • Apps
  • Art
  • Article
  • Blogging
  • Books
  • Bootstrap
  • Business
  • CSS
  • Design
  • Development
  • Ecommerce
  • Fireworks
  • Flash
  • Freebies
  • Freelance
  • General
  • Giveaway
  • Graphic Design
  • HTML5
  • Icons
  • Illustrator
  • InDesign
  • Infographics
  • Inspirational
  • Interview
  • Jobs
  • jQuery
  • Learning
  • Logos
  • Matrix
  • Minimalism
  • Mobile
  • Motion Graphics
  • Music
  • News
  • Photoshop
  • PHP
  • Promoted
  • Rails
  • Resources
  • Showcase
  • Tools
  • Tutorial
  • Twitter
  • Typography
  • Uncategorized
  • Usability
  • UX
  • Wallpapers
  • Wireframing
  • WordPress
  • Work

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

SpyreStudios © 2022