5 Tips to Help Cryptocurrency Owners Store their Crypto Safely Online
The 21st century has been a world of advancements. As the changes in all sectors have improvised the way of living, tools have been devised to utilize these resources better. There has been a revolution in all fields, of which an important revolution has been in the field of commerce. The innovation of an alternate medium for digital payments in the form of cryptocurrency has created a stir.
Bitcoins and many other forms of cryptocurrency have become a trending topic. These advancements in blockchain have resulted in the growth of its popularity on a global level. However, this fame has also attracted the prying eyes of malicious groups. Today, several cyberpunks are looking to devise ways to breach through blockchain for a mass crypto theft. This news is a worrying aspect for crypto owners.
To safeguard your crypto wallets from illegal access by these cybercriminals, enhancing digital security is an important step. Discussed below are some tips that could help crypto owners safeguard their assets.
Encryption Using A VPN
When you are browsing through your crypto wallet or even surfing over the web, you are under surveillance of several cyberpunks and malicious groups. If you are connected to an unencrypted network, these cybercriminals could easily access and steal your data packets. It could lead to the theft of your sensitive data such as passwords, addresses, and bank credentials. To avoid such instances, using a VPN every time you connect to a network should be practiced. A Virtual Private Network (VPN) creates a secure, encrypted channel for your data packets. It helps to transmit data by hiding your IP address. Hence your data gets transmitted without being detected by the prying eyes of malicious groups.
Using a secure hardware wallet like Ledger to store your cryptocurrency
Usually, crypto thefts are easily carried over the network through wallets that are connected to the web. Anything that is over the web could be breached if proper methods are used. The internet is full of malware programs that constantly try to find loopholes to breach the system. To safeguard your cryptos, storing them in physically accessible wallets must be practiced. Make sure that these wallets do not remain connected to the web except when in use. This practice protects against cyberpunks looking to breach into the wallet due to some loophole in the network.
Always use two-factor (2FA) authentication
The most common way of data breaches is through password break-ins. Usually, weak passwords are always easy to break through. Further, repetitive passwords for all accounts are also a security loophole. A password is single-walled security against cyberpunks and malicious groups that constantly try to breach easily accessible systems. To counter this, an additional firewall could be enabling the two-factor authentication option. It allows the user to grant access only to known logins by providing a confirm action button or a code to confirm it as a known login attempt. This feature secures the system against unknown attempts to log in, thus protecting your privacy.
Regularly Update Your Device Operating Systems
Cyberpunks and malicious groups generally target the most easily accessible systems. Usually, almost every software program has certain loopholes in security. The older versions could be easily broken through by malware. To patch these loopholes, update packs are rolled out for software programs from time to time. To avoid the loss of your privacy, a timely update of these software programs should be followed. It helps safeguard your system against avoidable data breaches and thefts. Also, enabling the automatic update option could be a great way to avoid delays in the timely update of these applications.
Using a Strong Password
Every time you set up an account, your password decides a lot about your security level. A weak password could be easily breached. Using your date of birth or your nicknames for passwords are usually considered weak passwords. These passwords could be easily guessed from your data on social platforms. Further, using repetitive passwords for all your accounts also poses a threat to all your accounts. A strong password should be devised by characters that are not easily guessable. You may even use a password manager to keep a record of all your passwords. These programs also give suggestions for strong passwords that you could use. It is a safer cyber practice to keep authentic, strong passwords for all your accounts.
As the advancements in blockchain keep bringing out other varieties of cryptocurrencies, their security is a responsibility. To store them away from the prying eyes of malicious groups, practicing safer cuber practices becomes essential. Using a hardware wallet and a VPN while connected to the network are some basic security measures. Further, updating your software programs on time and using 2FA are some measures to protect your system security. It eventually will keep your privacy and cryptocurrencies secure and private.
I have been into Cryptocurrency since early 2017. I am a very experienced investor, and have made a lot of money from investing in Bitcoin and other digital currencies. I am also a very popular author, and my work has been featured on sites like Forbes, Huffington Post, Business Insider, and more. I am currently working on a book about Cryptocurrency investing, which will be released later this year. In my free time, I write articles and blog posts about the industry for my followers.