How can cryptocurrency investors protect their assets during a power glitch?

3 answers

• Nov 24, 2021 · 3 years ago
  One strategy that cryptocurrency investors can use to protect their assets during a power glitch is to have a backup power source, such as a generator or battery backup. This will ensure that their mining rigs or hardware wallets stay online and continue to function even if there is a power outage. Additionally, investors should consider using a hardware wallet to store their cryptocurrencies, as these wallets are not connected to the internet and are therefore less susceptible to hacking or theft during a power glitch.
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• Nov 24, 2021 · 3 years ago
  During a power glitch, cryptocurrency investors can protect their assets by using a multi-signature wallet. This type of wallet requires multiple signatures to authorize a transaction, which adds an extra layer of security. By distributing the signing keys across different devices or even different locations, investors can ensure that their assets are safe even if one device or location is affected by a power glitch. It's also a good idea to regularly backup the wallet's private keys and store them in a secure offline location.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, we recommend that cryptocurrency investors protect their assets during a power glitch by diversifying their holdings across different exchanges. This way, if one exchange experiences a power glitch or outage, investors can still access their funds on other exchanges. It's also important to regularly check the security measures and backup systems of the exchanges you use to ensure that they have proper protocols in place to protect against power glitches and other potential issues. Additionally, using a hardware wallet and keeping it offline when not in use can provide an extra layer of protection during a power glitch.
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