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Protect Your Bitcoins by Following These Six Simple Tips

By Joycetisa | Tracednews | 29 Sep 2021


 

It is the crypto world's largest heist to date: hackers stole $ 600 million in cryptocurrency. How can you safeguard your safety?

While blockchain technology is very safe in theory, the cellphones and computers used by investors for storage and administration are not. However, the platforms upon which investors' funds are stored are also at risk. The applications we use to access the blockchain are not entirely secure against hacker assaults.

Bitcoin, Cryptocurrency, Digital, Money

A few pointers on how to safeguard yourself and your crypto holdings are as follows:

1. Wi-Fi Security

Especially if you're on vacation right now, you'll find free WiFi and log in using your smartphone or laptop, which also saves the crypto trading platform's access credentials. However, this is precisely the point at which care is recommended. The wallet, and therefore the coins, are only safe in the presence of a secure network. Whenever feasible, keep your own assets offline, and if that is not possible, keep them encrypted.

2. No E-mail with wallets information 

This advice is critical for maintaining the security of your cryptocurrency assets: Never use a public email address to access the wallets. Always keep a close watch on your smartphone or laptop and empty your wallets before bringing it in for repair.

3. Regular software updates may be beneficial.

It may be inconvenient at times, but software upgrades must be performed on a regular basis. Particularly if you buy and sell digital currencies. Malware is intended to exploit security flaws in outdated software or operating systems. Updating software should become a habit - it's better to set aside a day for routine updates. It is critical to prevent automated crypto app upgrades.

4. Password manager that is encrypted

Many users presumably always use the same password to access the most disparate sites. This is problematic, since if the password is compromised, the attacker has access to everything. As a result, each account should have its own safe password. There are password managers available, such as LastPass or Dashlane, that will help you keep track of them all.

Two-factor authentication, or 2FA for short, should be utilized wherever feasible to safeguard the assets. Two-factor authentication is a low-cost method to further secure your Google account or other services used to manage your cryptocurrency holdings. This is accomplished via the use of a smartphone authentication app.

5. A hardware wallet is a more secure option.

If you really have a multi-digit cryptocurrency wealth, you should use a hardware wallet rather than an internet wallet. Even if an online wallet is more convenient to use, safe cryptocurrency storage is only feasible with a hardware wallet. Manufacturers like as Trezor or Ledger, for example, are appropriate.

6. Which platform is trustworthy?

There are now a plethora of sites on which individuals holding crypto currency may transact. You can determine whether one is trustworthy by doing study. There are several well-known brands, such as Bitpanda and Binance, but there are also some smaller businesses. It's worth noting that the platform is regulated, has a sizable volume, and employs cutting-edge technology. Additionally, the site should support fiat money. Additionally, it is critical to notice the hefty costs.

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Joycetisa
Joycetisa

I am a freelance writer and owner of https://travelenge.com/ and I am happy to share my experience with you.


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