Theft and fraud Regardless of which wallet you have chosen, please note the following please note: Bitcoins are only secure if the private key is firstly securely generated and secondly, remains a secret! But above all - and most importantly - that it is under OWN control! Here are two examples of users who have been ripped off by putting Bitcoins in the hands of third parties: • The    Bitfinex    hack    that    saw    users    lose over $72 million • The   failure   of   Mt   Gox,   in   which   users   lost $450 million To prevent theft, fraud and other loss, be sure to follow these rules: 1 . Generate your private key in a secure offline environment. (Unless you are using small amounts, where in such cases keys can be generated in a hot wallet). 2 . Be sure to create backups of your private keys. This helps to protect against loss of bitcoins due to hard drive failure, other problems or accidents. Ideally, also keep a duplicate set of backups off-site to be immune to fire, robbery or other mishaps. 3 . For added security, be sure to encrypt your wallets. While this will not help prevent theft of your device or hardware wallet, the keys on it cannot be stolen. Securing Bitcoins or other cryptocurrencies is the most important step for any user. With cryptocurrencies, every user has the privilege - but also the responsibility - to safeguard their own money. Unfortunately, there are countless scams involving Bitcoin and other cryptocurrencies that could have been prevented if the victims had not entrusted their Bitcoins to other people.

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