In today's world, cryptocurrency safety ideas are needed essentially. Buying crypto is one thing and keeping it safe is another thing. Securing your cryptos doesn't necessarily require a lot of knowledge and skills, just some security fundamentals. Whether you are a Bitcoin newbie or a crypto trading guru, there are still several things you need that should become second nature to you when it comes to your crypto security.
And if you are getting paid, or trading cryptos don't be too worried about keeping your account safe and secure. The following ten crypto security tips should help you with that.
1. AVOID FREE WI-FI
This is the number one of the crypto tip. Everybody loves free things, not minding the consequences or the things attached to it. Or maybe you don't know; Wi-Fi can divert your browser to any page. It could be an imitator of your wallet. It might even be capable of collecting the data that has been transferred via your network, in case it transports the password key you had typed.
Today's Wi-Fi ethics are defective and must not be trusted. One of the significant dangers involved with using free Wi-Fi is the capacity to empower hackers to make themselves available between you and the connection point. Hence, instead of connecting directly with the hotspot as you think, you may end up sending your information to the hacker.
However, if you want to access your wallet from free Wi-Fi, you must make sure to use a virtual private network (VPN). With the use of a VPN, you can add privacy and security to your private and public networks, just like the hotspot.
2. CHOOSE AN IRREPLACEABLE PIN
Pin stands for a personal identification number, but most people make it a general identification number. You will see an individual using 1-2-3-4 as a pin, that even a 5-year-old kid can guess. Do not limit your PIN to the least of digits permitted. If you can set your PIN within the four and eight digits, then there is no reason why you should pick a pin that's as simple as 1-2-3-4. Whoever wants to gain access to your wallet account, money, or personal information should have a tough time.
Anything too easy to commit to memory is also easy for illegal people to predict. To set your pin, you can mix dates and numbers that are part of your day, if you are the type that struggles to remember your code. For example, you can pick a number from your date of birth, another from your phone number, choose up to three letters from your name and maybe from the name of someone very close to you; you can also make use of someone's age. You must choose your pin wisely to keep it safe.
3. CONSISTENT AUDIT
Some people can't even remember the last time they audit their crypto accounts or wallets, not to now talk of their logins and services. If you can't remember – this is the right time to do!
Are you wondering why? Well, a comprehensive audit gives you that opportunity to imagine the total number of services that you are using and the various accounts owned by you. Please note, that the more you audit, the more you get to know if anything is wrong with your account–and the more you make use of it, the more you will be aware of the steps that are needed to be taken, to secure your crypto accounts and wallets.
4. CHOOSE DIFFICULT PASSWORDS
Your first step to creating your online information, be it crypto wallet or account is a strong password. And with so much of our lives information online today, which includes our financial data, proper protection is essential than ever before. However, anytime you want to choose your passwords, you must generate a new and exceptional password for every site you visit and register for. You can try to put together upper and lowercase letters, numbers and symbols at any time possible. The password must be deposited in a safe place. Nonetheless, the safest thing you can do is store it offline.
5. BE CAREFUL
You can't trust everyone online. While we don't want to frighten you, it is ok to be a little suspicious. Verify before you trust. After every completion of your audit, you can use it as a guide to predict if your tools are dependable.
Here are several things to assess; the clearness, the procedure, the experience of the overall user, the advantages and the rates given by the general users.
6. GENERATING DIFFERENT ADDRESSES FOR DIFFERENT TRANSACTIONS
Did you know you can make use of a different address for every Bitcoin transaction you obtain? It's a significant and often under-looked part of how Bitcoin is expected to work. And it's a key for remaining anonymous online. It's not that using the same Bitcoin address for all transactions doesn't sound great. It makes it easy to keep track of your transaction, and you can transfer it to other people when they want to send you money, which is simple. But, it also makes you easier to track.
7. KEEP YOUR HOLDINGS PRIVATE
This is particularly true when you are talking with an unfamiliar person at blockchain tech conferences, cryptocurrency meetings, and social media. You will see most crypto users trying to brag about their achievements in the crypto world. It is good but can be dangerous because you don't know who you are talking to. It could be a scammer, you can't tell. So, watch out. It is essential that you, under no circumstances, tell anyone how much virtual currency you hold.
8. BE ON THE LOOKOUT FOR POSSIBLE PHISHING SITES
Phishing websites are created by these so-called scammers to trick unsuspicious crypto users into thinking they are on a legitimate site. These scammers can spend a lot of time creating the site, so it can seem as trustworthy as possible, and lots of sites will look as almost indistinguishable from the real thing. Please note, that dependable sites will never ask consumers to pay using the bank transfer method. Just in case this is the only method made available, it shows that no bank has provided credit card amenities for the website and the most likely situation is that you are doing business with an impostor.
9. KEEP YOUR DEVICE SAFE
To keep your device safe from impostors, you must always keep your antivirus updated, and firewall enabled. You must not install or set up any software you are not entirely convinced about the safety. And of course, under no circumstances, should you download any suspicious attachments. If you are not sure, you can do researches about the status of the software you are about to install. You must have heard of antivirus programs for laptops and desktop computers. You can install these programs to protect your devices against viruses and hacking attempts.
10. USE TWO-FACTOR VERIFICATION
Two-factor verification may not be a bulletproof resolution, but it is still one of the easiest and best ways to keep your account safe. Two-factor verification enhances another security layer to your login process, decreasing the opportunities scammers can get to hack your account. Just knowing and entering your password is not sufficient since there is an additional layer that is most times complex. This makes the process a whole lot more secured. Two-factor verification is gradually becoming a custom in the digital world. Most of the banks, cloud storage services, social media websites and cryptocurrency websites already delivered the opportunity. You should shift to a 2FV anywhere possible. As the saying goes that, prevention is better than cure.
This is 2020 and scammers are much more sophisticated; you don't have to make things easy for them. At least, anytime you want to leave your house, you don't leave your doors opened. Simply put, an unlocked door is an open room for robbers. The same thing should be applied to your financial possessions. You should take simple procedures to keep your crypto in a safe wallet, leaving all your trading balance on the exchange, and on a regular basis, performing account audits will also keep your accounts more secured in the crypto trading world.