5 Tips to Avoid Your Cryptocurrency Being Stolen

5 Tips to Avoid Your Cryptocurrency Being Stolen

As of June 2020, crypto criminals had already stolen $1.4 billion worth of crypto assets. Among the cryptos affected are the market giants bitcoin and ethereum. Malicious crypto-related transactions and crypto stealing are not new in the crypto world. The episodes have been recurring over the past few years.

The increasing threats of hacking and other risky events in the crypto world make it very important to find ways to protect our crypto. But how can you protect your cryptocurrency from being stolen? Here are the top 5 best tips to help you protect your crypto assets. 

Use The 2 Factor Authentication

Dual factor authentication(2FA) is a process in which a user provides two different authentication factors for their identity verification. The 2FA offers more security than single-factor authentication, which relies only on passcodes and passwords. In 2FA, apart from providing the passwords, a user will need to bring more biometrics, usually fingerprints and facial scans, to prove their identity. 

In the crypto world, some wallets offer the 2FA feature, which primarily means an additional layer of security for your crypto. As a crypto user, you should consider the option since it’s ubiquitous nowadays for external parties to get access to your accounts logins credentials. 

Untrusted parties cannot get access to a 2FA enabled account since they will need to provide a combination of two layers of security protocols. If they fail on just one of the protocols, then they will lose access to your account. The google authenticator app for your mobile device hosts the most common type of 2FA. After downloading the app, you can follow these steps:

  • Log in to the wallet you want to protect
  • Scan its QR code with your phone’s camera
  • Using the QR, link the authentication details to your phone

Every time you open the authenticator, it generates a 2FA code for your account, a codeword that expires after a short while. Using an already expired codeword will return you to the login screen. 

Avoid Using Public WiFi

All public WiFi users are prone to risks from hackers. When using public WiFi, hackers can quickly get into a phone connected to the same network. A hacker can position himself between you and the network provider and access every little detail you send through the internet.

Therefore, if you use your crypto wallet while using public WiFi, hackers will be able to garner your login details. Also, the hacker can access all critical emails, including those from your crypto wallet providers. Once hackers have access to your phone, they will, at their own time, steal all your crypto clean.

Instead of using public WiFi in hotels, libraries, and other places, carry your internet dongle and use your private internet. You will use maybe a few dollars per month, but that cannot be compared to losing hundreds or thousands of dollars worth of assets.

Protect Your Private Keys

In cryptography, every crypto dealer receives two kinds of keys: a public key and a private key. You send the public key to other users when they want to send or deposit to your account. However, a private key is a form of crypto digital signature that you will use to approve transactions to and out of your wallet.

You, therefore, need to keep your private keys safe from anyone. You have to always keep your private keys offline, maybe in an external hard disk or a pen drive, hidden in your house. If someone gains access to your computer in any possible way, they won’t be able to locate your private keys, and thus your crypto will not be compromised. 

Avoid Visiting Untrustworthy Sites

Hackers in the crypto world may take advantage of your enthusiasm for cryptography and send you emails or ads that direct you to fake websites. When online, be very cautious of these websites since if you open the links, you will be opening a backdoor to your device, and hackers will take advantage. 

Before clicking into any site or CTA in crypto-related sites, check the URL of the site if it is the same as the site you regularly visit. If you have doubts, then there’s a very high chance that you are on the wrong site. Cancel the page immediately to stay safe.

Secure Your Devices with Premium Antivirus

You should have just one independent device for all your crypto needs. However, if that is not possible, make sure you get premium antivirus software to protect your device.

A good antivirus will not only identify threats found in the hard drives but also online threats. The antivirus will help you fight against malware that may put your device in a compromised position by giving access to hackers. 

Keep Your Crypto Safe With Bitcoinmix.org

Although we have gone through a list of different things you can do to protect your assets, trusting an expert’s platform will ensure your security. Bitcoinmix.org is a bitcoin tumbler that guarantees users anonymity when conducting purchases online. In this platform, you will receive fresh bitcoins after every mixing. In doing this, anyone trailing your transactions becomes completely confused. 

The platform assures anonymity since they do not collect any personal information, and they delete emails 24 hrs after you use them to open an account. Bitcoin mixer offers you the option of either trading your crypto or keeping them stored offline in a cold wallet. The dual wallet option guarantees additional security to your crypto. Using a bitcoin mixer, you don’t need to have many wallets, instead just the tumbler ensures the safety of your trades.

Final Word

The risks of losing assets in the crypto world are increasing, and so every trader needs to make sure they are safe from any attacks. There are many ways that attackers can steal your crypto, including hacking and phishing. To protect yourself, therefore, from losses, you have to follow the guide given above.

To guarantee your security assets, use bitcoinmix.org to anonymize all your purchases and store the crypto that is not in use. Until developers solve the menace of insecurity in the crypto world, you have to make sure you have things right. However, security is vital, and it will drive crypto adoption to the globe. Bitcoinmix helps you remain anonymous and transact on any blockchain without a worry. 

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