Security Guidelines for Bitcoin Exchange Markets

Security guidelines for Bitcoin exchange markets are a must have for any new user, especially the exchange market, as this is a high risk environment. With the increase in cyber crime in the last few years, security has been of the highest priority for the industry and by following these guidelines, any new user of the exchange will be confident in his or her safety and security on the trading market.

* One of the most important and fundamental security guidelines for the Bitcoind is to never enter into any transaction that requires you to have access to a secret key or password. Any user of the system needs to be provided with a unique key or password on signing up, for both their convenience and for identification purposes.

* Never send a new user any funds unless they have first given this user the private key or password required to transfer this funds to a secondary wallet or account. The private key or password should never be shared with any third party.

* Never give out this user’s password or private key or account number to anyone. This information is required for the security of the accounts. Any and all accounts should be password protected on a daily basis.

* Never give out your account information to anyone other than yourself. Even if the user has registered with a reputable company and has had a successful trade, they should be asked for their account information and should never divulge this information to anyone other than themselves. In addition, any and all trades involving these accounts should be executed in the name of this particular account only.

* Never leave the private keys or passwords in a public place, such as a locker or public trash can. These are often the easiest and most convenient locations to store these types of information. Always store the keys or passwords in a secure place.

* Always keep a backup of your wallet in a safe place, such as a file cabinet or another secure location. Never lose or forget these keys or passwords, and never let a stranger access your wallet.

* Be sure to use a high quality and reliable encryption program for the encryption of the private keys and passwords associated with your Bitcoind account. Any and all user-related data should be encrypted before being stored on the server for the purpose of the exchange. Any key or password that is compromised should be immediately deleted and not returned to the users, as this could lead to the user’s private information being accessed by the other party.

* Before giving out your personal information or bank account numbers to anyone for any reason, be sure that this individual is a legitimate and trusted individual. Any new user should never give out personal information to anyone, including other new users, which they meet online. Make sure that the person is an authorized representative for the company and that they have an updated mailing address and telephone number for contact.