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BSP Advisory on Cryptocurrency

Last December 29, 2017, the Banko Sentral ng Pilipinas or BSP released an advisory regarding cryptocurrency or virtual currency. Here’s the list of important security considerations for VCs:

  1. Set-up and use a dedicated email account.  Avoid using the same email accounts or username that you have used in public platforms such as social media.
  2. Keep your VC-related email account to yourself.  In any VC transaction, users need their email account and password.  Thus, it is important to secure not only your password but also your email account.
  3. Set a strong password.  Use complex and hard-to-guess passwords (i.e. alphanumeric including symbols, lower and upper cases).  Avoid re-using the same password for more than one service.
  4. Observe basic internet security.  Exercise caution in accessing your VC wallet especially when using wi-fi connections.  Avoid installing software, browser plugins or downloading attachments from unknown or suspicious websites and emails.  At the same time, do not leave your device unattended.
  5. Subscribe to multi-factor authentication (MFA) provided by the VC wallet provider.  VC users should enable, whenever available, MFA options to their VC accounts.  Adding another layer of authentication can provide increased security to your VC account and transactions.
  6. Separate your funds and use cold storage.  VC funds should be separated in two or more digital wallets for transactional purposes.  The main wallet used to store VC funds for future use should be kept offline or popularly known as cold storage wallet to minimize vulnerability to theft, hacking or fraud.

 

To know more about BSP’s advisory, please visit this link.


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Bitcoin Scams: Don’t be a victim!

In my last post, I shared the cloud-based bitcoin mining. I even invited some of my friends to join. I also tried to buy additional hash power to boost mining capability.

My account was earning about 100,000 Satoshis in a day, I did not withdraw hoping that it will eventually.

Until October 23, 2017 when I tried to login to Auroramine and check the progress of my account. Only to find out that the site is no longer operational.

aurora

Yes, I was a victim of a bitcoin scammers twice. Continue reading


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Bitcoin Mining

Did you know you can earn #Bitcoin without spending cash?

Yes, that’s true.

Recently, I learned how by using a cloud-based bitcoin mining.

First, you need a #Bitcoin wallet.

STEP 1: Sign up by clicking this link: https://coins.ph/m/join/tm4njo

STEP 2: Sign up to the cloud-based bitcoin mining by click this banner:

Aurora Mine is a new cloud-based bitcoin mining platform. Unlike the physical bitcoin mining, Aurora does not require you to setup your power intensive computer.

You can earn bitcoin while you sleep.

Enjoy!