Hacking and heists are on the rise and prompt added attention to the security of your crypto assets. When it comes to securing your crypto, there are a number of ways to go about it. However, the most commonly recommended safety precautions include securing your internet network, using a hardware wallet, multiple wallets, virus protection, updating passwords regularly, and avoiding phishing attempts just to name a few.
The popularity of cryptocurrency is giving merit to the fact that crypto is more than a fad, it has become an investment craze. As your investment continues growing will give you more of a reason to protect your assets.
As the crypto market fluctuates, it attracts additional buyers, but it also attracts unwanted eyes, those of cybercriminals. These criminals access your coins by means of your digital wallets. Hacking and heists are on the rise and prompts added attention to the security of your crypto assets. Choose the best option for securing what you have acquired.
This might seem the most obvious solution but is something worth reviewing and giving attention. Confirm that your internet connect is secure and do not use public Wi-Fi connections. For added security, use a virtual private network (VPN). This will change your IP address and location and keep it safe and private.
A hardware wallet, or a cold wallet, cannot easily be compromised or hacked by cybercriminals because it is not connected to the internet. This is the most practical measure of security. Some exchanges offer a hot wallet online for your storage. However, this can provide a false sense of security. A hot wallet is online and therefore is accessible to those thieves looking for something to seize.
This is a great idea because then you can diversify where your crypto assets are stored. You could use one wallet that holds what you use to engage in daily transactions. Another wallet could be used to hold funds that you have sitting and not needing to access on a regular basis.
Our devices are constantly being attacked by viruses and hackers. Virus protection can sometimes slip our minds, or we fail to renew our subscription. Hackers look for weaknesses and are constantly changing and rewriting their programs to attack our computer’s weaknesses. Maintaining current and updated firewall and virus protection will combat their attempts.
Before discussing passwords being updated, remember that you need to use passwords that are not the same ones you use for every other site. If one thing is hacked on your computer and a password is obtained, how easy is it for a thief to have a basis to try for hacking into other accounts you maintain. That being said, if your password is always the name of your sweet kitty followed by the year you were born, it is time to change that and make it strong, secure, and mostly, not predictable.
After you have a strong password, you need to regularly update and change it. Do not leave it the same for a period of time that it can be eventually deciphered. If you possess more than one crypto wallet, create unique passwords for each. If there is a two-factor authentication process for your wallets, this is a great added security feature to employ.
Sadly, people at some point in their internet lives become victims to phishing schemes. Be cautious and skeptical of any emails or ads that may pop up giving the appearance of an organization you are affiliated. These ruses are rampant among in the cryptocurrency world. This is also another area that having proper virus and firewall protection installed to identify things that are malicious and warn you before you go past the point of no return.
Cryptocurrency hacking and theft is on the rise as this digital currency continues to grow and spread in popularity. As crypto grows means that is will also increase in value drawing attention from ones that may not have looked twice otherwise. Utilizing these methods will keep your crypto safe and secure so that you focus on investing.
