So its now possible to lose a billion dollars with the single click of a mouse?

With cryptocurrency comes immutability, unlike if someone steals your credit card, fraudulent purchases will not be refunded.

Security is something not to be taken lightly and even the most seasoned experts have been ripped off.

Do not fear.

With a few simple steps you can prevent the majority of attacks a would be bitcoin thief will attempt.

Key principle: Backup your wallet

What if your crypto wallet is only stored on your laptop, and you drop your laptop into your hot tub.
Store your backups at a different location. What will you do when your Lamborghini catches on fire in your garage then burns your house, your laptop and your safe with the backup phrases.

Key principle: Generate private keys offline

If a private key ( the code that give the holder access to “spend” coins) never touches the internet, how can it be hacked?

Key principle: Don't tell anyone about your bitcoins

People will only try to steal from your if they know you have something to steal.

Key principle: Don’t leave your bitcoins on an exchange

Exchanges get hacked, and exchanges steal. If you must leave them there, go to the security tab and enable everything. Especially, two factor authentication, this feature is your best defense.

So how do I do that?

The most user friendly way to safely and conveniently store bitcoins is to buy a hardware wallet. Checkout Trezor or Ledger Nano.
These wallets safely store your private keys offline and only broadcast to the internet the signed transactions.

When setting up your hardware wallet you will be prompted to write down your backup phrase. This phrase allows your to re generate your wallet in the even you lose your device. Store it safely, secretly and remotely.

Once your crypto assets become worth more than the cost of a hardware wallet, buy one.

But I don't have any bitcoins? Read this.
https://steemit.com/bitcoin/@galianotiramani/how-do-i-buy-bitcoin

Thanks for reading!
Galiano Tiramani