Best ways to secure your cryptocurrency

Best ways to secure your cryptocurrency

Like many people, you've probably invested in cryptocurrency to secure your financial future. And while the market may have seen some instability in recent months, there's no denying that crypto is still one of the smartest investments you can make.

But for your investment to indeed be secure, you need to take some extra precautions to protect your digital assets. Here are some ideas on how to accomplish it.

Store Your Cryptocurrencies in a Cold Wallet

Protect cryptocurrency with Guardio’s number one recommendation for achieving total security, a cold wallet.

A cold wallet is a cryptocurrency wallet that protects your private keys and keeps them offline. Your coins are stored in a completely air-gapped environment, making them much more secure against hackers and malware.

Paper wallets and hardware wallets are the two basic types of cold wallets.

Paper wallets:

When you hear the term "keys," images of bits of paper with your public and private keys printed on them come to mind. These are very easy to create and use, but they are not as secure as hardware wallets since they can be easily lost or stolen.

Hardware wallets: 

A hardware wallet is a physical device that stores your private keys in a secure offline environment. The best-known hardware wallets are the Ledger Nano S and Trezor.

If you want to store your cryptocurrencies long-term, we recommend using a cold storage wallet.

Use a Secure Connection When Surfing the Internet

When accessing the internet, it is essential to use a secure connection. One way to do this is to use a Virtual Private Network (VPN), which will encrypt your traffic and make it more difficult for hackers to intercept your data. Another way to stay safe online is to ensure your computer is free of malware. You can do that by installing a reputable anti-virus program.

Ensure That You Have at Least Two Bank Accounts with Separate Usernames and Passwords for Each Account

It is vital to have at least two bank accounts when dealing with cryptocurrencies. You will need a place to store funds and a separate account for transactions. Having two accounts helps protect you if one of your accounts is compromised. When creating your accounts, use unique usernames and passwords.

Encrypt Your Personal Device

If you are going to be storing any cryptocurrencies on your device, it is crucial to encrypt them. This will make it more difficult for hackers to gain access to your funds if they can steal your device. There are several different ways to encrypt your device, so be sure to research the best option for your needs.

Change Your Password Frequently

Another important security measure is to change your passwords frequently. This will help prevent hackers from gaining access to your accounts if they can obtain your old password. Be sure to use a different password for each account, and make sure that they are all strong passwords that contain a mix of letters, numbers, and symbols.

Don't Be a Victim of Phishing

Phishing is an online scam involving hackers attempting to trick you into revealing your personal information. They may do this by sending you an email that appears to be from a legitimate website but is a fake. They may also create a fake website that looks identical to a genuine website but is actually designed to steal your information. If you receive an email or visit a website that looks suspicious, do not enter any of your personal information. Instead, contact the company directly to confirm that the email or website is legitimate.

Keep Your Computer Free of Malware

As mentioned above, it is vital to keep your computer free of malware. This is done by installing a reputable anti-virus program and keeping it up-to-date. You should also avoid clicking on links or downloading items from unknown sources. If you accidentally download malware, run a scan with your anti-virus program to remove it from your system. You should also avoid clicking on links or downloading items from unknown sources.

Use Two-Factor Authentication

Two-factor authentication (2FA) is an additional layer of security that users can add to their accounts. With 2FA, you will be required to enter a code that is sent to your mobile device in addition to your username and password. This makes it more difficult for hackers to access your accounts, even if they can obtain your password.

Don't Reveal Your Personal Information

Keep your personal information private. This includes your full name, address, date of birth, and Social Security number. If you are ever asked to provide this information online, confirm that the website is legitimate before doing so. You should also avoid sharing your personal information on social media or public forums.

These are just a few ways you can keep your cryptocurrency safe. By following these tips, you can help to ensure that your investment is protected.