When it comes to investing in cryptocurrency, there are many people who are hesitant about the same. That’s because cryptocurrency is more prone to security risks, as the safety of crypto investment belongs to the investor itself. Unlike traditional banks, it’s not third-party regulated, so you cannot remedy the legal difficulty.
It is also directly connected to the internet, so it is more vulnerable to malware attacks. However, with right before-hand strategies, crypto wallets can be kept safe and secured. Wondering what we are talking about? Read through:
First things first, the best way to secure your crypto wallet is by using a strong password that’s not just random characters. You need to come up with 8-14 character passwords that have uppercase, lowercase, digits, and special characters, and it isn’t easy to guess.
It is not recommended to select something that’s entirely disconnected from your life. Also, stay away from password managers, as there have been some password breach stories in the past due to the use of the same.
Do not generate complex passwords, or it may become tough for you to recall. Moreover, if you have created a password and are forgetting it, try using genuine services like SalvageData. You can recover any wallet password with SalvageData.
Internet security is one of the most crucial aspects of keeping your crypto wallet safe and secure. That’s why do not just go for any random internet connection while using your crypto resources. Rather choose networks like VPN, so things like IP addresses, cookies, and related information can be prevented from getting violated by hackers.
VPN makes it harder for hackers to track your IP address on the web. This means if you are using a VPN while crypto-trading, all your data will be safe. So, do not miss out on using the same.
Stay Clear of Phishing
Phishing is one of the most common cyber threats where all your sensitive information can be leaked. So, it’s best to educate yourself and avoid phishing attacks causing data exploitation.
We also recommend you to avoid logging into cryptocurrency exchange unless you are entirely sure that it’s a legitimate website. Also, do not click on any doubtful links that someone has sent to you. Rather, save it to the favorites or type the URL to prevent any phishing attacks.
You must also stay clear of emails or chats that ask for your personal details or any confidential information.
Do Not Share Information on Social Media Handles
You might want to brag about your crypto-investment gains to your friends, but it’s best to avoid doing so. No matter what you gain or lose, do not post information about your trading activity on your social media handles. Hackers are active all the time, so you never know how things may turn out.
Also, if your crypto wallet data gets breached, only opt for top-rated services that recover your data safely and professionally.
Update your device
Whether it’s the device or the applications you are using, it’s recommended to update everything to the latest version to avoid any safety threats. Also, keep yourself updated with any new security threats that other crypto-investors might be facing.
These are some of the tips by which you can keep your crypto wallet safe and secure. Try them out to save your assets from hacker attacks.