With every passing day, the popularity of cryptocurrency is reaching new heights. People are drawing toward this digital currency. Security and ease of management are primary reasons why this digital currency appeals to everyone.
However, with its emerging popularity, the chances of security threats have become common. A lot of hackers are eying on your coins. Therefore, it has become important to not neglect the security of your coins.
There are several security measures that would help you to secure your coins & wallets. The positive news is that up till now most of the cryptocurrency platforms have robust inbuilt security measures to prevent theft.
Although, the platforms are safe people are considered to be the weakest link in crypto security. It is easy as a cakewalk for hackers to hack a crypto investor’s wallet and move their assets.
Hence, if you are leaving your wallet open then you are sending an open invitation to hackers to come and take what you have earned.
So, if you are concerned about your crypto wallet security, then go through the following tips.
Tips to Secure Your Cryptocurrency
1. Secure Your Personal Computer
Many people rely upon the existing antivirus software assuming that it is sufficient to protect them against all types of security threats. However, you should install the latest firewalls and antivirus to safeguard you against all sorts of security threats. In case, if you are looking for the comprehensive security of your crypto coins and wallet, then you should consider installing an effective and very secure operating system such as Qubes, Unix or Linux. These operating systems are considered to be the most secure operating system available in the market.
These software are sufficient in protecting your coins from all types of attacks & hacks. They have a special configuration that makes it less vulnerable to attacks. Moreover, if you are using a Windows-based PC or Mac then don’t forget to update your antivirus at regular intervals.
2. Encrypt Your Data
Data encryption is the strongest way to prevent your coins from security threats. It proves an effective way to keep your wallet secure and safe. If you are using a Linux based system so it is quite easy to set up data encryption on this system.
You can use LUKS encryption apps to set this up. But, if you are using a Window-based computer then you can set up VeraCrypt. People who are using Mac can use Filecrypt to encrypt their crypto coins data. The above-mentioned software will encrypt data on your hard drive and prevent it from all kinds of hacks.
3. Backup Your Data
Data is important, therefore develop a habit of taking the back up of your data at regular intervals. In case of any mishappening such as if your computer or device get lost, then your data will be protected. Keeping a backup of data would prevent your wallet or coins in case of disk crash, accidents happen, natural disasters.
4. Be Careful About Mobile Authentication
The hackers are always one step ahead of you. And mind you they are always looking for new ways to steal your data. Nowadays, crypto wallets are available on phone. Thus, you have to be extra careful while using your mobile phone. Therefore, don’t unnecessarily provide your important details such as phone number or email id on different sites. Therefore, don’t store a large number of coins on your mobile wallet because it is easy to hack mobile.
5. Pay Attention To Your Browsers
6. Use Third-Party Crypto Security Entities
There are several companies such as NanoLedger and LedgerH that provide enough security to the wallets and coins. If you want to live a peaceful life, then you can seek the assistance of these websites. These websites would provide you a hardware wallet and store you all data on it. These companies provide multilayer security to your wallet and nullify the chances of the hack.
7. Change your password regularly
Don’t keep your password simple as it would invite trouble for you. Nowadays, hackers or online thieves have become smart. They can easily decode your password and steal your coins. You have invested thousands of dollars in cryptocurrency, thus, you should not be lazy in changing the password on a regular basis as it would invite a lot of trouble for you.
You should keep changing the password on a regular basis. Moreover, don’t keep the password simple. Use special characters and long passwords to make it impossible for hackers to decode it.
8. Consider a dedicated computer
If you are seriously involved in the cryptocurrency exchange then it would be preferable to have a designated computer only for this job. It means you should have a computer or mobile device only for buying and selling cryptocurrency. According to a study, the system which is likely to be used more for surfing and fun activities are prone to hacking. The reason is that you open a lot of untrusted websites and enter your important details which make it easy for hackers to attack on your data. The hackers have become smart these days as they have invented a new way to steal your information by creating a simple keylogger app. When you enter your information using this keylogger all your information reaches to the hacker and using it he hacks your computer.
However, in case you can’t afford a separate computer to carry out cryptocurrency trading activities then we advise you to partition your computer for these activities. This would protect you against data crimes.
So, these are few of the best ways to protect your cryptocurrency.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.