I updated my password on Steem yesterday as a part of my routine I usually do.
Recent research says you shouldn't change your passwords so often but I am not sure how accurate that is. I try to change mine every 3 months. With so many exploits and hacks. It's better to be safe than sorry. Remember, having a blog on Steem is not like other platforms. It has monetary value and you want to keep those funds secure. This latest password change was actually long overdue. I also took the necessary steps to make multiple backups and secure them. I only leave my posting key on my local machine.
Why Should You Make Multiple Backups?
There are many reasons why to make multiple backups of your passwords. There are many situations that can occur and most regret not having more than one backup. Here are few things that could happen:
Lost - Losing your password is such a tough thing to go through. In case you lose it, you have a backup to save you.
Corrupted storage - Keeping your passwords on electronic storage come with some risks and can become corrupted. You lose your data when you have a corrupted storage and it can happen. Even if you have it on a removable storage.
User-error - This can range from mistyping and adding an extra character to accidentally deleting the file or the password itself.
Why Should You Never Leave Your Passwords on Your Local Machine?
This will keep your account safe. You could have just your posting key on your machine. Keeping only your posting key on your machine will keep your funds safe in the event that someone else gains access to your posting keys, all they can do is vote, blog, and comment. They won't be able to do anything such as touch your funds or change your password.
Some may say to use a password management service which does make it easier than to have to constantly shuffle through for your passwords but you are also relying on those services to keep your passwords secure. There have been many security breaches on such services already. LastPass has dealt with a security breach as recently in March of this year. If you were to use one of these services, I would recommend 1Password. Since you would only have your posting key on one of these services it is not much of a concern if those services get hacked.
As for accessing your funds, I would recommend using the desktop wallet Vessel developed by @jesta. This will keep your private keys safe with encryption and simple to use.
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nice post @bitcoinparadise. We should follow these safety tips to avoid any mishap.
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Might be a good idea :)
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I guess i should change mine too
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Too late, I already have your passwords :P
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Whaaaatttt!! :P
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Most people lose their accounts because of their own human mistakes of not writing their seed down properly or whatever. You're far more likely to screw yourself over. Not to say changing passwords is a bad idea, but maybe once every year at the most or unless you think your computer was compromised.
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I agree with you. Can never be too careful though. Lots of exploits and hack tools going around. But mainly keeping your main passwords air-gapped should be sufficient enough. I just prefer to do it often
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Hmm, I don't have enough on my account to worry about that. Mr. @bitcoinparadise, every three months is too frequent, don't you think?! Now, imagine you have to do that to all your other accounts/wallets: MyEtherWallet, Exodus, etc., that's a lot of work.
A good evening Aloha to ya!
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Well STEEM will be worth more in the future so that's for you to decide if it's worth changing your passwords. I prefer to do it every 3 months since hackers are very creative nowadays on obtaining your data. If you take the necessary precautions then you wouldn't need to change it so frequently but that is just something I like to do.
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I know. You told me this before. I must take wealth preservation a lot more seriously. Thank you my dear.
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Thanks for the post and the reminder ! The more secure we all are, the more secure the platform is. Password changing and secure backups just makes good sense and a damn good habit to get into.
Read More, Reason More ... JTS
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Thank you. Yes, it's always good to have a good practice with keeping your account secure.
I love that line:
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thanks, yeah been using that "tagline" for awhile
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The way I do it is that I use KeePass, which is an open source password manager, and then use Google Drive to synchronise the encrypted password file across my devices.
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As long as it's only your posting key then that's should be fine. Plus it's encrypted so I don't think you have anything to worry about.
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i think updating in 3 months is reasonable especially if u have a lot of funds in ur account that u wish to keep safe, always a better idea to keep it safe and constantly changing than later regretting, however i dont have much as yet so something maybe ill adopt on later.
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Even though if you may not have much in your account, the amount you do have could be worth a lot when the price of STEEM goes up. Plus, the name of the account could be of value if someone wants to buy it ;)
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wow i had no idea , that is awesome , thank u for the info :-)
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Thanks mr. @bitcoinparadise for the information you've shared, at least very useful for me and other steemit friends.
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I'm glad you find it very useful.
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Not a bad idea to change your passwords every few months. I was thinking of doing this myself.
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Very useful article.Keep it up. Upvoted.
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Thank you.
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Always better to be safe than sorry, as you point out. An gram of effort to avoid a tonne of pain...
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Yes, you never know if someone may get a hold of your passwords until it's too late.
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I have pressed the upvoted, resteem and follow button just because you have reminded med of this. Thank you friend!
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Thank you. Glad I can help with the reminder.
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As you mentioned for accessing your funds, I would recommend using the desktop wallet Vessel developed by @jesta. This will keep your private keys safe with encryption and simple to use. My query is keep on changing password gives trend analysis of your changing password?
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Not in this case since the passwords are auto generated from the blockchain. I think if you have to create your own password then that's where I would see a trend analysis having its effect.
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Agree with you,crypto world is in access of computer hackers with loose security,i beleive in what you are saying.
The only Threat to crypto world is the government with anti - crypto policies & loose security measures..i divide both of them in percentage
Government policies = 30%
Hacker threats = 60%
Others =10%
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This post recieved an upvote from therichext. If you would like to recieve upvotes from therichext on all your posts, simply FOLLOW and UPVOTE @therichext
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beautiful handmade meda amazing
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great post!
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thanks for sharing that interesting post.I have never changed my password maybe I should
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Nice
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@bitcoinparadise thanks for talking about security and backups. This is something that has been concerning me from the beginning, and day by day I am taking the needed steps to be secure. Just upvoted. @gold84
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I love your post. Plz upvoted and follow
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Good post
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Thank you for the update, really needed this @bitcoinparadise
I'm too lenient with my passwords lolzz... :p
Upvoted & Following you.
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Very informated post thanks.
https://steemit.com/tricks/@kaleem345/5-cool-tricks-watermelon
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thank you
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