Cryptocurrencies and blockchain technology offer a secure way to conduct financial transactions. However, cybercrime is rampant in the digital world.
To help protect your digital assets and not fall prey to crypto robbers, we’ve compiled a list of our top 8 crypto security tips to follow.
1. Use Password Generators
Passwords that consist of numbers or a single word are easily guessed. Better use a password generator and use strong passwords of a random set of symbols. Oh, and keep your credentials safe (do not write them down on paper, come on).
2. Use Google Authenticator for 2FA or any other authentication app.
First — because it is easier than SMS to your phone number and does not require a good network connection. Second — this method is more secure since there are SIM swaps and other phone number-based hacks.
3. Regularly monitor your trading and withdrawal history
You can track your transactions manually or with a dedicated monitoring tool. Any transaction that is not requested by you is a signal of unauthorized activity on your account.
4. Use cold crypto wallets
It should go without saying that your private key is your absolute crypto lifeline and should not be known to anyone you deem untrustworthy. To keep them safe, you can store them on Bitcoin cold storage, such as a computer with no internet connection. It will help you not to fall prey to malware or hacker attacks. Also, private keys can be safely stored on special hardware or a cold wallet, similar to a USB key.
Offline devices like USB wallets keep your crypto away from online hackers. Coinnest strongly recommends the use of cold storage. It is also a good idea to have several wallets so as not to keep all your eggs in a single basket.
5. Delete all remote-access software
Did you know that Zoom, TeamViewer, and Ammyy Admin have numerous security holes? Even if you have 2FA enabled, remote-access software can give attackers access to your computer with just a string of symbols.
6. Triple-check when sending crypto
Crypto wallet addresses are a long mix of digits, so never type them manually, only copy and paste. And check at least first and the last few symbols — some malware can replace the copied addresses with the one that belongs to the hacker.
7. Keep your mouth shut.
Avoid talking about your trades, investments, or crypto portfolio anywhere, especially online. Social media are full of scammers hunting for potential victims with pockets full of money.
That means no bragging about how much you have made on your last trade on crypto trading Facebook groups (at least not under your real name), no telling people in bars after a few drinks that you bought bitcoin “years ago”, and no pictures of your bitcoin wallet to show off your wealth. There are zero benefits to bragging about your crypto holdings, only drawbacks. Otherwise, you may risk potential violent attempts to steal your wealth and ruin your health, or even life.
8. Avoid public WiFi-s
Their hosts can set up their own rules that you will never be aware of (they may redirect your browser to phishing sites, collect your passwords, so on). If there is a dire need to access your crypto funds from public WiFi, at least use a VPN.
Bonus: Never for any reason, post any of your wallet addresses online.
When you do so, criminals can see how much cryptocurrency you own and make you a target. Should you need to post a wallet address online for whatever reason, make sure not to keep a lot of wealth in it and only use it for the sole purpose only (such as collecting donations or receiving small payments).