Cybersecurity and Cryptocurrency
Cryptocurrencies are digital forms of money that exist only in the virtual world. As such, they present unique challenges when it comes to cybersecurity. Because cryptocurrencies operate on a decentralized ledger system, there is no central authority or bank responsible for regulating them — meaning hackers can potentially exploit any vulnerability within the blockchain network or individual wallets. In addition, users must take extra steps to protect their private keys from being stolen or misused by malicious actors. This article will provide an overview of key considerations regarding cryptocurrency security and best practices to help you stay safe online while using these digital currencies.
First and foremost, it’s important to understand how cryptocurrencies work so that you can better guard yourself against potential threats. The most popular form of cryptocurrency is Bitcoin which operates on a distributed public ledger called a blockchain — essentially this records all transactions between participants without needing third-party verification (e.g., banks). Each user has two cryptographic keys: one public key used for making payments (i.e., address) and one private key used for authorizing those payments (i
