bit coin mining-Learn How to Protect Your Bit coins from Loss or Theft

These days many people use online wallet as well as bit coin mining for keeping offline backups to protect their bit coins from loss or theft. While a large number of individuals who keep their bit coins in offline wallets go under the name cold storage. Now cold storage is the means by which the data is stored on your computer that can be understood once it is imported into a bit coin software program.

However in order to do this one must have both the private and public keys required for the transaction to work both ways. Now if someone wants to give you bit coins they will need the public key in the same way they would need your email address to pay you vial pay pal.

Now the difference here is that the public key is not an email address but a series of digits and letters and a mnemonic string of words basically 12 in total that the recipient needs to qualify their ownership. Let me remind you that this information is the most important element of the bit coin set up.

While bit coins can be stored on hard drive or other storage device so that it can be prone to loss or corruption if the said device fails or falls foul of software failure. Some people keep this information in paper form after having generated it from their online wallet. Now this is entirely up to them but from the point of view of safety and security it is best kept on a storage device that can be pass word protected.

With increasing frequency people try to recover their bit coin wallets after the failure of their hard ware device. These failures may be the result of a problem with the hard drive itself which is basically an internal component giving rise to malfunction due to problems with a printed circuit board or firm ware failure.

Now rest assured though whatever the reason for the failure of the drive or storage device you are in a position to recover your bit coins and other information in 99.9% of circumstances. As with all software types the software that governs the access to your bit coin wallet is such that is stored on your hard drive either on your desktop PC and your laptop.

To this end if there is a problem with the hard drive in which ever computer you are using then there is a chance that the software itself may suffer some kind of corruption or issues.  Now we will be happy if we can discuss the nature of the problem and the ways in which we can help you get your data back.

If you want the help of friendly and knowledgeable professionals who will be able to offer guidance on bit coin mining and what to do to ensure not further damage comes to your storage device and offer you a range of options from which you can best choose what suits you best then please feel free to  visit here.