7 Crypto Wallet Security Tips to Keep Your Crypto Safe
Cryptocurrency wallets are an important piece of cryptocurrency security. Remember, crypto is decentralized, meaning your cryptocurrency isn’t sitting in an exchange where a third party has control over your funds. Keeping your wallet secure will help prevent hackers from gaining access to your funds and compromising your crypto.
Everybody’s a cryptocurrency expert these days. Cryptocurrencies like Bitcoin are so new that you likely don’t know what you don’t know. A cryptocurrency wallet is where you store your bitcoins, Ethereum, Litecoin, ripple, and other cryptocurrencies. They are software files so your cryptocurrency can be stored electronically. There are many different kinds of them, including desktop wallets, mobile wallets, hardware wallets, and paper wallets.
Create heavy-duty passwords
Not so long ago, creating a password was as simple as getting some creative character combinations together and inserting random letters. However, as technology developed, so did hacking methods. Hackers can now create content-driven passwords so that they can crack them on a first attempt. Even if you add special characters to your passwords, hackers can install a key logger on your computer to capture those passwords.
Avoid phishing attacks
Phishing attacks are tricking you in a way that makes you want to click. They usually say, “click here” and “click here.” It’s usually urgent, like your credit card is expired, or your account will be shut down if you don’t log in. But what happens after you click? Expect to see ads pop up, or even worse, your personal information is stolen. Nowadays, AI chatbots are being trained to execute sophisticated phishing campaigns, making them harder to spot. It’s important to stay aware of bot security risks and phishing attacks to protect crypto wallets.
Employ two-factor authentication (2FA)
A variety of websites, especially financial and business websites, now offer two-factor authentication, also known as 2FA. Essentially, it is a method that allows a user to access their account with a password and an additional piece of information known as a security key or secret. The advantage of 2FA is that even if a hacker gets a user’s username and password, he or she still can’t access the account without possessing the security key.
Use a VPN
A VPN is essential for anyone online. Any company that offers a VPN service uses a server to encrypt your data, so your browsing will be safe even if someone does manage to hack into your router or modem. They offer similar services for mobile devices, and this is particularly all-important when using a public WiFi network. You’re at risk even on home WiFi networks – we’ve all received enough unwanted notifications from marketers selling us stuff. In an effort to remove some of the clutter, many home users block all cookies, which means you don’t even get to use Facebook on that device anymore.
Set up several email addresses
Setting up several email addresses is easier than you might think. Many free email providers offer multiple email addresses, plus mobile apps that turn your smartphone into an email machine. If you’re not using one already, sign up for Gmail, which has an excellent desktop app and is available for your computer, phone, and tablet. If you’re tech-savvy, you can set up an email address on your own server. A free online service known as Google Domains lets you do this.
Get a hardware wallet
A hardware wallet from an authorised reseller like monix.store or similar sources is usually the safest way to store your Bitcoin and other altcoins, and could help you reduce the risk of your cryptos being stolen. It is a physical storage drive that holds your cryptocurrency keys. These drives are small and similar to flash drives and are usually encased in a metal or plastic case. Hackers who gain access to your computer could steal your cryptocurrency if they found your cryptocurrency wallet file on your computer. But with a hardware wallet, these hackers can’t access your cryptocurrency. Instead, all they can do is steal the hardware wallet and promise to return the cryptocurrency, but they never do.
Cryptocurrency wallet security is a hot topic this year, and with the growing adoption of crypto, it’s more important than ever. Keeping your wallet and crypto secure is a good security practice that can help to protect your crypto investment.
Don’t brag about your crypto
If you spend any serious time in the cryptocurrency and blockchain community, one thing becomes crystal clear: nobody is more excited than ever about blockchain technology. Enthusiasts are almost giddy when they talk about it and seem to fall all over each other to share every new project or app or earn the newest and hottest currency. And while that’s great for the people getting paid for their work, for the common investor, it can be particularly annoying.
Having a bunch of cryptos is a big deal, but bragging that you are crypto-rich may not be such a great idea. Just like the cool kids in high school, you may be popular among crypto bros, but you really don’t want to brag about it on social media, especially if the account is public.
