Best way to secure your crypto 2023
In this guide, we will be sharing the best ways to secure your crypto assets. Despite the fact that blockchain technology is the main way to protect a cryptocurrency investment, it is always necessary to exercise the greatest possible caution to avoid theft and scams. Cryptocurrencies, such as Bitcoin and Ethereum, have gained popularity in recent years as an alternative to traditional fiat money and as a form of profitable investment. However, with the increasing adoption of cryptocurrencies, there has also been an increase in cases of fraud, theft, and other crimes related to the security of these digital currencies.
It is true that the decentralized nature and complexity of the blockchain, the underlying technology that underpins cryptocurrencies, makes it difficult for hackers to access and manipulate the information stored on the blockchain. However, despite the security this technology offers, certain cryptocurrency businesses may not offer the same level of security as traditional banks. That is why crypto investors must take additional security measures to protect their investments. Fortunately, these can be simple and do not require more than a little attention.
7 Tips that every user should know
1. SET A STRONG PASSWORD
The first and Best way to secure your crypto is to set strong and unique passwords for each cryptocurrency account and wallet. This must have a combination of uppercase and lowercase letters, numbers, and special characters, and must be long enough to make it difficult to guess or hack. It is recommended that you save your password in a safe place or in an encrypted password manager. It is also important to remember that using the same password for all cryptocurrency accounts increases the risk of them being compromised.
2. AVOID SHARING PASSWORDS
Passwords are always personal and should not be shared with anyone, as there is always the possibility of finding malicious people anywhere, including on the Internet. Therefore, it is recommended not to leave any digital traces of your account credentials to prevent unauthorized access.
3. ONLY USE TRUSTED WALLETS
Hardware wallets are considered one of the Best way to secure your crypto asset if you are holding it for a long time. These devices are similar to a physical wallet and provide greater privacy and security for your cryptocurrency assets. A big advantage of hardware wallets is that they are not easily vulnerable to hacking since the private keys are stored on physical devices and not online. However, if the physical wallet is lost or stolen, there is no cause for concern as it is possible to transfer all the keys stored on the device to another wallet using the recovery seeds.
4. ENSURE DEVICE PROTECTION
It is also advisable to verify the security of the devices used to access accounts and carry out transactions, as they may be vulnerable to attacks. It is difficult to detect if a device has been hacked while it is being used, so it is advisable to take the necessary measures. To prevent the theft of digital assets by hackers, it is recommended to install anti-malware or anti-virus programs on the devices used to access cryptocurrencies. It is important to run these programs daily to check if the devices are free of viruses or malware.
5. APPLY TWO-FACTOR AUTHENTICATION
In addition to using strong passwords, account security can be enhanced by implementing two-factor authentication (2FA). Fortunately, most cryptocurrency wallets include these types of systems to ensure the safety of users while using their applications. To use 2FA, you usually need to enter your username and password. Afterward, the app will send a one-time password or OTP to the registered phone number or email. Once the OTP is entered, the account will be accessible.
6. DO NOT INSTAL UNKNOWN APPS ON MOBILE AND PC
The mobile device or personal computer that you are using for dealing with cryptocurrency must be free from unknown and spammy software. Never install unknown apps and don’t click any spammy links on your devices, where login to your crypto accounts.
7. NEVER USE PUBLIC WI-FI NETWORKS
People are often unaware that using public Wi-Fi networks to access certain personal accounts increases the risk of having their information leaked and, in the worst case, being hacked. This also applies if you plan to access cryptocurrency wallets or make transactions using public Wi-Fi. It is important to remember that public Wi-Fi is a common technique used by hackers to access their victim’s personal information.