Hackers are continually devising new ways of doing what they know best. This ranges from hacking bank accounts to stealing passwords. Unfortunately, the crypto space is no different as it receives attacks. What’s more, the increasing number of users and investors make crypto a target of these cybercrimes. On the other hand, others are hesitant to invest in cryptocurrency because of such security risks. So, how do you ensure you protect yourself from crypto malware? Please keep reading to find out the top tips to stay safe.
Store Your Crypto in a Hardware Wallet
A hardware or “cold” wallet is one of the ways of securing your crypto wallet when offline. This is especially perfect for most of what you won’t need for transacting online. This means that you store a bulk of the crypto offline, and only leave a small part with online service providers.
Remember, the online service providers may at times have their platforms hacked. What does this imply? The hackers can compromise your private key and there is the risk of losing your crypto investment. Imagine the loss if a great percentage or all of your crypto is stored online.
Therefore, you can choose to have several crypto wallets so that you may have others safe and secure in case of hackers access one. The downfall of this, however, is that it requires more private keys, which is also complex.
Go For a Reputable Crypto Exchange Platform
How secure is the platform you are using for buying or selling cryptocurrency? The security levels of exchange platforms differ. This means that you need a secure platform to store your crypto wallet. So, what can help you choose the best crypto exchange platform?
Research online for any cases of hacking in the past. If the site has had issues with hackers’ attacks, their security might be poor, and this puts your crypto investment at risk.
Therefore, go for a crypto exchange that employs the best security practices. Such include multi-factor authentication (MFA). On the other hand, look out for the safety measures of the crypto exchange before settling for it. do they offer an option of freezing the account? Do they limit balance transfers? Your answers to these questions will help determine whether or not the cryptocurrency exchange is reputable.
Protect Your Private Keys
Cybercriminals mostly attack the private keys to an individual’s crypto wallet. Therefore, to protect yourself and your cryptocurrency, it is important you pay keen attention to your private keys. Remember, this is important regardless of where you store your cryptocurreny.
Remember, it is through the private keys you will access your crypto investment. So, you should store it well to safeguard your investment. A loss of private keys means no access to the investment.
Therefore, you should store your private key well and never share it with anyone. What’s more, you can go ahead and store it physically in a secure place like a safe that is fireproof.
Frequently Change and Manage Your Passwords
Breach of passwords is a cyber-security issue we have to continually deal with. That is why every time you set a password, you need to ensure it is a complex one. Mix letters, numerical, and symbols. Furthermore, do not duplicate a password you have already used on a different site. Don’t allow the hacker to access your information.
Regularly Update Your Device and Software
Nonetheless, having set a complex password doesn’t mean you let it be forever. Make it a habit of changing your passwords often, at least every 6 months.
Whether you are using your computer or smartphone for your crypto investment, make sure it is always updated. Talking of devices, avoid accessing your wallet from a public computer. Resist the urge of using your work computer as well. You can even dedicate a specific laptop, computer, or smartphone specifically for your crypto trading.
Notably, the device you use for cryptocurrency should have the most recent software. A tip to keep you safe is to set automatic installation and any recent updates on applications.
Moreover, since security threats are continually increasing, why not take advantage of endpoint security to protect your wallet more? If there is anti-malware or anti-virus software you can install on your device, go for it.
Safeguard Your Wallet Information
Have you ever shared your crypto wallet information with another party? This is a temptation, especially when you are successful. You want to let everyone on social media get the news about your gains or any crypto activity you are currently working on. Why should you avoid such?
You do not know who is accessing this information after you post it online. There could be a hacker somewhere, who knows? Besides, there are numerous anonymous traders. You will never know their identity in this case.
Therefore, to keep your crypto wallet safe, avoid the temptation of sharing your wallet information on social media, whether it is a success or loss.
Beware of The Latest Crypto Malwares
As we mentioned earlier, cybercriminals are evolving their ways to target your wallet when you least expect it. Therefore, to stay safe, be informed and up to date on any recent cyber-attack. Get close to a community or news sites that update you on the latest happenings in cybersecurity and monitor the trends.
The good news is, that there are various and new ways of protecting yourself. Therefore, when you are up to date with the latest news in crypto security, you can know when your crypto wallet is vulnerable to an attack and act wisely to protect it.
Make Hacking Difficult for a Hacker
Any transaction conducted online is vulnerable to cyber-attacks. Therefore, you can apply these tips to ensure you safely and securely keep your crypto investment. Remember, you can also use these digital security tips in any other online transaction, and you don’t have to employ all of them at once. Also, make accessing your crypto wallet a complex process, and in a way, only you can maneuver. This way, the hacker doesn’t have an easy time. So, why not follow these security practices, whether you have had your crypto wallet hacked in the past or not?
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