Cryptocurrencies are becoming increasingly popular, but they’re also gaining attention from hackers. The following tips will help you for securing your cryptocurrencies.
Secure Your Internet Connections
Securing your internet connections is a good first step to keeping your cryptocurrency safe.
- Use a VPN: Connecting to the internet using a virtual private network (VPN) service will help you hide your IP address and make it difficult for hackers to track you down. You can set up a VPN through an app on your phone or computer or use one provided by your employer.
- Secure Your WiFi Connection: Make sure that when you connect to public WiFi hotspots, they use HTTPS encryption and have relatively strong passwords. Avoid touching directly from smartphones since they are more susceptible to malware attacks than desktop computers or tablets.
- Use A Secure Hotspot: When choosing which hotspots to connect your devices to, look for those that require users to enter additional information, such as credit card numbers, before granting access. This helps verify the identities of individuals using these networks.
Use Two-Factor Authentication
2FA is a simple way to add an extra layer of securing your cryptocurrencies accounts. Many exchanges, wallets, and other crypto platforms offer 2FA as an option. When you use 2FA, you’re not only required to enter your password to log into your account. This may be any one of the following:
- A code sent via SMS to your phone number can be easily intercepted by hackers if you don’t have 2FA enabled because they can request the code on their device
- A physical key fob or dongle these are good at protecting against phishing attacks but isn’t so effective against malware-based ones.
- App installed on mobile devices are only sometimes reliable since some can be vulnerable to attack even when properly functioning normally.
Be Careful Of Phishing Attacks
Phishing attempts to acquire sensitive information such as usernames, passwords, and credit card details. These are often sent via email but also occur through text messages and phone calls. Phishing attacks are designed to trick people into disclosing personal data so it can be used for identity theft.
If you have received an email from your service provider asking for your customer number and password. Please only respond after first checking with them directly. Suppose you receive emails requesting payment information, such as credit card numbers or bank account details. In that case, this should be treated cautiously and not disclosed.
Backup And Encrypt Your Wallet
It would help if you always had backups of your wallet. You can keep a backup in multiple places, such as online or on paper. Online is better because it allows you to access it from anywhere. Still, if someone gains access to your computer, they could steal all your information, including the backup. You can also print out a copy of your wallet and keep it in a safe place offline.
Encrypting some or all of your wallet will help secure your cryptocurrencies. This means that anyone who gets their hands on it will only be able to use funds if they know how to decrypt them first. Even then, there are limits on what else they can do with those decrypted funds.
Avoid Using Public WiFi
Public WiFi’s great, but they are also a hacker’s dream. When you connect to a public network, you have no clue who else is on that network or if someone is monitoring your traffic to steal your data or money. To avoid this problem and protect your cryptocurrency from hackers, ensure you only use private networks when making transactions. If you are attending an event in person or want to ensure that no one is spying on your traffic as soon as it leaves the device, then use a VPN. A VPN will encrypt all incoming and outgoing information so no one can see what it says. It would help if you also ensured that any tools used for cryptocurrency exchanges offer two-factor authentication or other ways of securing your cryptocurrencies against unauthorized access.
Conclusion
Cryptocurrencies are vulnerable to hackers and phishing attacks. Make sure you secure your internet connection, use two-factor authentication when possible, and always back up your wallet in an emergency. Avoid public WiFis at all costs!
