Understanding How Bitcoin Mining Poses Security Risks

The value of Bitcoin has had its ups and downs over the past several years, but continues to attract interest Microsoft Customer Service in the midst of a chaotic market Support.Microsoft.Com/Help. The rapid growth of this alternate currency has Microsoft Support Phone Number dominated headlines and ignited a cryptocurrency boom that left consumers everywhere wondering how to get a slice of  Http //Support.Microsoft.Com/Help  the Bitcoin pie. For those that want to join the craze without trading traditional currencies like  Microsoft Support Phone Number U.S. dollars, a process called “Bitcoin mining” appears to be a great way to get involved. However, Bitcoin mining introduces a number of security risks.

What is Bitcoin mining?

Mining for Bitcoin is like mining for gold Support.Microsoft.Com/Help—you put in the work and you get your  Microsoft Support Phone Number reward. But instead Microsoft Support Phone Number of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially  Http //Support.Microsoft.Com/Help  upkeep and help secure Bitcoin’s decentralized Microsoft Customer Service accounting system.

Each time there’s a transaction it’s Microsoft Customer Service recorded in a digital ledger called the “blockchain.” Miners help to update the ledger Support.Microsoft.Com/Help by downloading a special piece of software that allows them to verify and collect new transactions to be added to the blockchain. Then, they must  Microsoft Support Phone Number solve a mathematical puzzle to be able  Http //Support.Microsoft.Com/Help  to add a block of transactions to the Microsoft Support Phone Number chain. In return, they earn Bitcoins, as well as transaction fees.

What are the security risks?

As the digital currency has matured, Bitcoin mining has become more challenging. In the beginning a user could Microsoft Support Phone Number mine on their home  Http //Support.Microsoft.Com/Help  computer and earn a good amount of the digital currency, but these days the math problems have  Microsoft Support Phone Number become so complicated that it requires a lot of expensive computing power Support.Microsoft.Com/Help.

This is where the risks come in. Since miners Microsoft Customer Service need an increasing amount of computer power to earn Bitcoin Support.Microsoft.Com/Help, some have started compromising public Wi-Fi networks so they can access users’ devices to mine for Bitcoin  Http //Support.Microsoft.Com/Help .  Such an event happened at a coffee shop inwhich was infected with malware that caused a 10-second delay when logging in to the cafe’s Wi-Fi network. The malware authors   Microsoft Support Phone Number were Microsoft Support Phone Number using this time to access the users’ laptops for mining.

In addition to public Wi-Fi networks, millions of websites are being compromised to access users’ devices for mining. In fact, this has Microsoft Customer Service become such Support.Microsoft.Com/Help a widespread problem  Microsoft Support Phone Number, that over are believed Microsoft Support Phone Number to be slowed down by web-based mining. And slowing your device down is not even the worst thing that could happen  Http //Support.Microsoft.Com/Help . A device that is “cryptojacked” could have 100 percent of its resources used for mining, causing the device to overheat, essentially destroying it.

Now that you know a little about Bitcoin mining and the risks associated with it, here are some tips to keep your devices safe as you monitor the cryptocurrency market:

• Avoid public Wi-Fi networks—These networks often aren’t secured, opening your device and information up to a number of threats Microsoft Support Phone Number.
• Use a VPN— If you’re away from Microsoft Customer Service your secure  Microsoft Support Phone Number home or work network, consider using a virtual private network (VPN). This is a piece  Support.Microsoft.Com/Help of software that gives you a secure connection to the Internet Microsoft Support Phone Number, so that third parties  Http //Support.Microsoft.Com/Help  cannot intercept or read your data. A product like  can help safeguard your online privacy no matter where you go
  
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• Secure Your Devices—New threats like Bitcoin malware  Http //Support.Microsoft.Com/Help  are emerging Microsoft Customer Service all of the  Microsoft Support Phone Number time. Protect your devices and information