What You Can do to Prepare for Bitcoin Halving 2020

It should be noted that that third bitcoin halving event is expected to drop sometime in May. This results to the value to bitcoin to drop from 12.5 to 6.25. There are a lot of things that can happen before, during as well as after bitcoin halving 2020. This is the reason why many find it important especially for miners to prepare for the upcoming event. Let us look at explore some of the things that you can do to help you find success with bitcoin halving.

Back Your Devices Up

People are advised to back their devices up at all times especially during the bitcoin halving event. Hardware failure can happen to just about everyone and you don’t want to lose your precious files during a very crucial time. As such, it is a good idea to check your devices to see if they are still in good shape and condition. Make the necessary measures of repairing your devices and changing the parts that need any replacing in order for them to run without any problems.

bitcoin halving 2020

Secure Your Accounts

A huge number of accounts may be compromised before and during the bitcoin halving event. This opens a window of opportunity for hackers to strike stealing bitcoins from online users all over the globe. To avoid this, make sure that you secure your accounts by updating your passwords frequently to make it harder to hackers to access them. It is also a good practice to use a strong password while at the same time, avoid using the same ones for multiple accounts as this can compromise all of your accounts making you an easy target for hackers.

Aside from changing your passwords often, it also important that you avoid compromising your accounts by making sure to log in only in trusted locations. Avoid using the public computers when checking your balance and don’t forget to install the latest malware protection and anti-software. This will definitely go a long way in helping keep your everyday transactions safe and secured.

Stay Informed

As mentioned earlier, a lot of uncertainties can come with bitcoin halving 2020. The misinformation that it can brings may cause fear and panic to a lot of miners which increases the likelihood of them making erroneous mistakes. Information will have a huge role in helping avoid panicking. The right amount of information can calm people up helping them regain their composure. For that matter, make sure that you stay up to date with bitcoin halving by looking at the latest news and other similar sources to help keep you informed. Don’t just rely on single news post but look for multiple sources to confirm its validity.

You can also get in touch with fellow miners by joining online forums, reddit threads and the likes as you share with the discussion. Social media is also a great way of helping you find relevant news that revolve around bitcoin halving 2020. This is great place of finding online users who share the same passion and goal for cryptocurrency and other similar topics.

Post Author: Jennifer Slegg