Sirwin
Sirwin

Protecting Your Crypto: Expert Safety Tips from Syscoin and NOW

By ChangeNOW | ChangeNOW Crypto Blog | 29 Jun 2023


In the world of cryptocurrencies, security is paramount. With the increasing number of hacks, scams, and other malicious activities in the crypto space, it's more crucial than ever to ensure that your digital assets are secure. In this comprehensive guide, we'll explore the importance of crypto security, provide an overview of Syscoin, introduce you to ChangeNOW and NOWPayments, and offer expert tips on selecting the best crypto wallet and safeguarding your digital assets. 

Buy SYS

Syscoin Overview

Syscoin is a blockchain platform that offers fast, secure, and scalable solutions for businesses and individuals. It combines the best of both Bitcoin and Ethereum, allowing users to benefit from the proven security of Bitcoin's UTXO model and the versatility of Ethereum's smart contract capabilities. Syscoin also features a unique dual-chain architecture, which provides an ideal layer 1 settlement system and enables seamless integration with existing systems.

Syscoin Security Measures

Syscoin is dedicated to providing a secure environment for its users. The platform employs a range of security measures, including:

  • Merged-mining with Bitcoin, which leverages the immense hashing power of the Bitcoin network to secure Syscoin transactions.

  • Utilizing the Z-DAG protocol, which provides fast and secure on-chain transactions.

  • Implementing UTXO asset notarization, allowing for compliant and traceable transactions.

  • Offering finality in the protocol through custom BLS quorum systems, reducing the risk of selfish-mining and L1 MEV attacks.

  • Encouraging the use of masternodes, which provide long-term incentives to run full nodes and contribute to the network's security.

SYS EVM supported by ChangeNOW & NOWPayments: A Quick Overview of the Collaboration

Syscoin's EVM (Ethereum Virtual Machine) capabilities have attracted the attention of leading crypto platforms like ChangeNOW and NOWPayments. These platforms have collaborated with Syscoin to offer users a seamless and secure experience when exchanging or accepting SYS tokens.

ChangeNOW is an instant crypto exchange platform that enables users to swap cryptocurrencies quickly and easily. It supports over 850 coins, including Syscoin, and offers a non-custodial service, ensuring that users remain in control of their private keys at all times.

NOWPayments is a cryptocurrency payment gateway that allows businesses to accept crypto payments for their products and services. With the integration of Syscoin, NOWPayments users can now enjoy fast and secure transactions with SYS tokens, making it an attractive option for merchants looking to expand their payment options.

 

Buy SYS

 

Why is Using ChangeNOW Secure

ChangeNOW prioritizes user security by implementing various measures, including:

  • Non-custodial service, which means that we don't store your funds or require you to create an account.

  • Strict adherence to KYC/AML regulations, ensuring that all transactions are compliant with the necessary legal requirements.

  • Utilizing reliable and secure exchanging algorithms, which help protect users from potential market manipulation and other risks.

  • Offering 24/7 customer support, providing users with access to assistance whenever they need it.

NOW Products: NOW Wallet, NOWPayments (with Syscoin)

NOW Wallet is a user-friendly and secure crypto wallet that supports multiple cryptocurrencies, including Syscoin. With the NOW Wallet, users can easily store, send, and receive SYS tokens without worrying about security. The wallet also offers a simple and intuitive interface, making it easy for users to manage their digital assets.

NOW Wallet empowers individuals to take control of their crypto holdings. With an emphasis on security and privacy, NOW Wallet ensures that users retain exclusive control over their private keys, mitigating the risks associated with third-party custody. This key feature aligns with the principles of decentralization and user autonomy that underpin the crypto ecosystem.

The security protocols implemented by NOW Wallet are designed to protect against unauthorized access and malicious activities. By leveraging robust encryption, NOW Wallet ensures that sensitive user data and transaction information remain confidential and resistant to external threats.

NOWPayments prioritizes security by implementing various measures. Their use of cold storage wallets ensures that the majority of user funds are stored offline, minimizing the risk of hacks and unauthorized access. Additionally, mandatory two-factor authentication (2FA) for all withdrawals adds an extra layer of security, ensuring that only authorized users can initiate transactions.

Furthermore, NOWPayments allows users to whitelist specific IP addresses and wallet addresses for withdrawals, limiting fund transfers to authorized wallets and approved IP addresses. These security features collectively create a safe and efficient environment for accepting crypto payments.

Guide for Users from NOW and Syscoin Experts: How to be Secure in the Crypto World

To ensure that your digital assets are safe and secure, follow these expert tips from NOW and Syscoin:

1. Choose the Best Crypto Wallet

Selecting the best crypto wallet is essential for the security of your digital assets. Look for wallets that offer robust security features, such as NOW Wallet.

2. Use Strong and Unique Passwords

Create strong and unique passwords for your crypto wallet and any related accounts, such as email or exchange accounts. Avoid using easily guessable information, such as birthdays or addresses, and consider using a password manager to generate and store complex passwords.

3. Enable Two-Factor Authentication (2FA)

Enable 2FA on all your accounts, including your crypto wallet, email, and exchange accounts. This adds an extra layer of security, requiring a second form of verification (such as a code from an authenticator app) in addition to your password.

4. Keep Your Private Keys Secure

Never share your private keys with anyone and store them securely, either offline (in a hardware wallet or on paper) or encrypted on a secure device.

5. Keep Your Software Up-to-Date

Regularly update your wallet software and any related apps or programs to ensure that you're using the latest security features and patches.

6. Be Aware of Scams and Phishing Attempts

Watch out for scams and phishing attempts, such as fake websites or emails that try to trick you into revealing your private keys or other sensitive information. Always double-check URLs and verify the authenticity of any software downloads or communication you receive.

7. Use Cold Storage for Large Holdings

Store the majority of your digital assets in cold storage, such as a hardware wallet or an air-gapped computer. Only keep a small amount of crypto in online wallets or exchanges that you're willing to risk losing.

8. Regularly Backup Your Wallet

Make sure to back up your wallet regularly and store the backup in a secure location, such as an encrypted USB drive or an off site safe deposit box.

9. Educate Yourself on Best Practices

Stay informed about the latest security trends and best practices in the crypto world by following reputable sources, such as industry experts, news outlets, and your wallet provider's blog or social media channels.

10. Be Mindful of Your Online Presence

Be careful about sharing information about your crypto holdings or activities on social media or other public platforms. This can make you a target for hackers or scammers.

Final Thoughts

Crypto security is of utmost importance, and by following the expert advice from NOW and Syscoin, you can protect your digital assets and enjoy the benefits of the crypto world with confidence. Ready to experience the security and convenience of Syscoin and ChangeNOW? Exchange or buy SYS on ChangeNOW today and experience the difference for yourself.

Buy SYS

 

Industry

How do you rate this article?

3


ChangeNOW
ChangeNOW

ChangeNOW is a non-custodial service created for simple and fast cryptocurrency exchanges. We strive for maximum safety, simplicity, and convenience. We do not store your funds or require any sort of account creation. https://changenow.io/


ChangeNOW Crypto Blog
ChangeNOW Crypto Blog

Сrypto news, articles, guides, reviews, price predictions and more

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.