Safeguarding your digital currency wallet – everything you should know!
We all know that crypto is a trendy thing now, and many people are investing in them to make good profits. There are some outstanding characteristics of cryptocurrency that make them very attractive in people’s eyes. But along worth benefits, there come some pitfalls too. Cryptocurrency is a valuable asset now, and it is also the hot target of hackers. The crypto wallet hacks are one of the big reasons for which people have a fear of investing in this crypto. Luckily, there are numerous conducts to defense your digital currency wallet from these hackers. You can get in-depth information about it at cryptorobo.app.
Make use of a non-custodial crypto wallet!
The people who hold significant cryptocurrencies and fear that their crypto can get hacked, then using the non-custodial wallet is the best choice. These are the type of wallets that offer you complete control over your holdings. If you don’t want any third party to access your wallet, you should surely use this one. However, you should know that using the non-custodial wallet also comes with a higher level of responsibility when you store your private keys. Without the private keys, you can lose access to your crypto holdings. Therefore, it would be best to have a good strategy for backing up the wallet. Some people write the keys on paper, but the more secure option is to use a hardware wallet. These wallets offer an additional layer of protection for your keys.
Don’t use unregulated exchanges!
You should altogether avoid keeping your crypto on the unregulated exchange. These exchanges don’t have reasonable security measures for protecting your coins. It is why you should always use the regulated crypto exchange because they offer better security. In addition, the regulated crypto exchange can offer you high-end services and best-class security, which are a must when dealing with cryptocurrency.
When you keep your digital currency on the regulated exchange, you should better use the two-factor authentications feature to protect your account. SMS-based two-factor authentication can add an extra layer of protection to your coins. In 2FA, the two keys are required to access the coins. So if one person knows about your private keys, they can also not access your coins because it needs double authentication.
Always connect with secure internet!
When you are making cryptocurrency transactions or trading them, you should make sure to use the only secure connection of the internet. It is advised to avoid public WIFI altogether because they are not safe, and hackers can access your coins in this way. Even when using the home internet connection, using the VPN is recommended to get extra security. The VPN helps change the location and the IP address, which helps keep all your browsing activity safe and secure from hackers.
Keep your device up to date!
You should always keep your device updated because it helps in promoting security. It is vital to have the newest virus definition updated to defend the virus quickly. Using strong anti-virus is also a great option because it improves security to avoid hackers.
Stay away from phishing scams!
Phishing scams are the ads or emails which sometimes the investors get, and they get trapped. You should always be careful of these kins of crypto transactions and avoid getting trapped in any of these unknown links. You need to know that the hackers tried to target the crypto exchange by using these phishing campaigns in the latest heist of the crypto. The shocking thing is that they stole more than 200 million dollars in the time of two years. These hackers perform these acts by making use of fake domains.
Keep changing your passwords!
A strong password is a thing that acts as a firewall for protecting your funds. When we talk about security, a strong password is the most significant thing you must emphasise. You should, at all times, ensure that you use the complex password so that no one can have access to your coin. Also, if you are using multiple wallets, you should never set the same password for them. One should always keep changing the password and not set the passwords of all the multiple digital wallets same passcode.