In this tech world, Security is a very complex issue. As every day we encounter with a report of a major hacking or ransomware violation. Moreover, millennial’s are investing more in Bitcoin, Ethereum, and a host of other cryptocurrencies making crypto security so important. You might have heard about Crypto wallet which is a digital wallet for cryptocurrencies that saves public and private keys which in turn helps to send and receive money. Though blockchain technology which is used in cryptocurrencies ensures security still it isn’t a fully secure system for users.
Everyday Hackers are targeting cryptocurrency traders by phone-porting and by monitoring on social media in search of cryptocurrency discussions for emails and phone numbers. By various social engineering techniques, hackers take charge of the phone number or home pc and logs in to the victim’s wallet to snatch all funds from the victim’s account. In this digital age where laptops, phones, and hard drives are becoming the brand new bank vaults it’s important to safeguard your cryptocurrency wallets from hackers.
Tips to secure your crypto wallet:
- Encrypting your smartphone and your wallet as it allows you to set a password for anyone trying to withdraw any money.
- Use a strong password that contains letters, numbers, and punctuation marks. Make sure it is at least 16 characters. Though the most secure passwords are those generated by programs designed specifically for that purpose sometimes they may be also prone to hacking so set Strong passwords by yourselves. To know more https://dhacker.in/the-ultimate-guide-to-choose-a-strong-unhackable-password/
- Use an offline wallet which is also known as cold storage as you store a wallet in a secured place that is not connected to the network. It provides the highest level of security for savings. Offline wallet in conjunction with backups and encryption is the best practice you can do.
- Always update the latest versions of crypto wallets as it allows you to receive important security fixes. Installing the latest software on your pc and mobile is keeps your wallet environment safer.
- Most of the cryptocurrency wallets provide multi-signature wallets where a single transaction requires multiple independent approvals. It allows users to control over their money while preventing a cybercriminal from stealing funds by compromising a single device or server.
- Never use a public Wi-Fi. As most of the times hackers fake open Wi-Fi, so when a device is connected to it, you just open a window to your data storage. Always remember Risky Wi-Fi networks can put your wallet at risk every time. And never leave your device unattended, never lend it to anyone. To know more https://dhacker.in/read-this-before-using-a-public-wifi/
- Always turn on two-factor-authorization on your Smartphone or pc not only to log in but for any transaction procedures.
- Backup your entire wallet as it protects you against computer failures and many human mistakes. You can also recover your wallet if after your mobile or computer was stolen. And Encrypt online backups as they are highly vulnerable to thefts. Use USB keys, papers and CDs as a single backup system is bad for security.
- Use a separate email address for crypto accounts including exchanges and set up two-factor authentications and a strong password for it too.