Bitcoin Core gives you increased security and privacy at a cost. You need to take responsibility for the security of your bitcoins, meet higher minimum system requirementsand beware of some possible problems.
No matter what Bitcoin software you use, you should never buy more bitcoins than you can afford to lose. Bitcoin is still an experimental system and bitcoins remain a risky investment. Bitcoin Core puts you in charge of your wallet, which means your bitcoins are at risk unless you complete certain tasks:.
Make sure your wallet is secure. Setup an offline wallet cold storage for significant amounts of bitcoins. Allow your heirs to receive your bitcoins if you die or become incapacitated. Bitcoin Core configuration options. Bitcoin use is prohibited or restricted in some areas. Worse, some providers may terminate your connection without warning because of overuse.
We advise that you check whether your Internet connection is subjected to such limitations and monitor your bandwidth use so that you can stop Bitcoin Core before you reach your upload limit. Several people have placed parts of known computer viruses in the Bitcoin block chain.
This problem mostly affects computers running Windows. Bitcoin Core powers the Bitcoin peer-to-peer network, so people who want to disrupt the network may attack Bitcoin Core users in ways that will affect other things you do with your computer, such as an attack that limits your available download bandwidth. By default, you need to backup Bitcoin Core after every transactions.
This includes both transactions you send as well as payments you request whether or not you actually received the payment. For example, you need to backup after sending 33 payments and requesting 67 payments even though you only received 60 payments. Bitcoin Core can be configured to allow you to go more transactions between backups. See the -keypool setting. Anyone who gets access to your wallet can steal your bitcoins.
The first line of defense against this is encrypting your wallet, an option from the File menu in the graphical interface. However, encrypting may not be enough if your computer becomes infected by malware.
Learn about offline wallets for security against this type of attack. In addition to securing your wallet, you also need to keep your backups secure. Anyone who gets access to them can also steal your bitcoins. Computers that connect to the Internet are frequently hacked or infected with bitcoin-stealing malware.
Computers that never connect to the Internet are a much more secure location for your bitcoins. Bitcoin Core can be run on an always-offline computer, creating an offline wallet also called a cold wallet.
The offline wallet will securely store the private keys, while a separate online Bitcoin Core wallet will send and receive transactions. Creating and signing offline transactions. Previous Feature Privacy Next feature User interface.
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