Beware the API Key in Yor Online Bitcoin Account

-By Milly Bitcoin® – December 15, 2013.

Many new users who open Bitcoin online accounts with exchanges or online wallet programs do not fully understand the ramifications of the “API Key.” API stands for “Application Programming Interface.” This key allows for programs to interface with your account. For instance, if you have a computer program […]

“Brain Wallet” Thefts Increasing

-By Milly Bitcoin – November 3, 2013.

“Brain Wallets” are wallets created by a passphrase. It could be a sentence or phrase or just a group of words. Some users are confused about how complex this password or phrase must be in order to be secure. The advice, Don’t do it.

The misunderstandings comes from […]

Don’t Confuse Breaking Cryptography and Breaking Encryption

-By Milly Bitcoin – November 2, 2013.

Recently the US Federal Bureau of investigations (FBI) seized bitcoins from the alleged Silk Road operator. There is also discussion that the FBI has a wallet file that is encrypted. Around the same time there has been speculation that the US National Security Agency (NSA) worked with the […]

Keeping an Offline Wallet

-By Milly Bitcoin – April 7, 2013.

The safest way to store bitcoins is in an offline wallet. With Bitcoin the tradeoff for eliminating banks is a that the user is responsible for backing up and securing their wallet.

A wallet is a collection of Bitcoin addresses. The addresses are pair of cryptographic keys, a […]