PRIORITISE KEEPING YOUR BITCOIN SAFE , SECURE AND AVAILABLE
South African cryptocurrency exchanges are on the increase promising favourable rates and other value-added services to those looking to venture into these digital assets . Claude Schuck , Regional Manager for Africa at Veeam , says we need to carefully consider the impact that cryptocurrencies will have on availability strategies .
hen I was a child ,
W the prospect of going to a theme park was a wild and exhilarating experience ; however , now it doesn ’ t quite stir up the same feelings . Similarly , the ownership of cryptocurrency isn ’ t the rollercoaster ride it used to be even though it is still perilous .
While the trading of a cryptocurrency is still full of massive ups and downs as the market volatility continues , the instability and risk of your digital wallet is a consistent threat . These aren ’ t just abstract or theoretical ; new scams crop up and old ones resurge all the time .
Whether it ’ s a fake wallet set up to trick users , a phishing attempt to steal private cryptographic keys , or even fake cryptocurrency schemes , there ’ s something to watch out for at every turn . So , what would happen should someone lose access to their virtual wallet or it becomes unavailable ?
Availability of data has become a priority for businesses across industry sectors , indeed it ’ s an area we built our business around . It is now common for digitally savvy consumers to have some method of backup or a duplicate copy of their key documents , photographs and other important information . Yet , there is seemingly not much thought given to what the damage will be if a digital wallet gets ‘ misplaced ’. Just consider the financial consequences if one is unable to access thousands of rands of Bitcoins ( if not more ) because you cannot remember where the password is stored , or the wallet is being hosted , or even lose a local drive containing
Claude Schuck , Regional Manager for Africa at Veeam
While the trading of a cryptocurrency is still full of massive ups and downs as the market volatility continues , the instability and risk of your digital wallet is a consistent threat .
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