9 Ways To Secure Your Cryptocurrency
Cryptocurrency has raised an overwhelming attraction in the recent years that has seen many enthusiasts cram the industry. The trend continues to soar amid a mixture of reactions with some investors reaping big while others cursing their short-lived experience for having picked it as an investment plan. The industry is a big-time win for smart and organized players who take comprehensive security measures to safeguard the virtual money they have put at stake.
Everyone can secure their trading accounts but the anxiety with which others get into the game is alarming. Crypto is a rewarding industry but precautions must be taken as it is flooded with many hawks around who upon identifying any vulnerability can mess the private accounts real bad. You don’t want to be the victim, they wipe it all and clean the mess without a trail and just like that, you are gone down.
Imagine someone flaunting your money somewhere simply because of negligence to follow very simple steps to secure your savings. Observing the ways listed here are instrumental in securing you virtual money and enhance your confidence like other smart players who have vowed to stick to the portfolio as long as it thrives.
1. Create Strong And Complex Passwords
If everyone puts a fence and gate to their homes built with strong materials hard enough to penetrate through by villains why won’t you do the same with your crypto? Your investments must remain secure and impenetrable to avoid invasion and theft. This is achievable by the use of complex passwords which limit the possibility of hacking through the systems and gain access to the trading account.
Strong passwords are created in the ways listed below.
• Never use popular patterns and sequence in your passwords. Serial numbers like 12345 and vowels and make the account more vulnerable to attacks.
• Avoid using family names, birthdays, addresses and personal information that can give clues about your password.
• Dictionary words such as Mustang, monkey, password, and love among others are a little easy to hack through and must not be used as login keys
• It is not advisable to use the same password for several accounts as an entry to one of the accounts by hackers makes you other accounts vulnerable
• Avoid using repeated numbers, letters and patterns on the keyboard such as asdfg, aaa, 111 and qwerty
• Using capital letters like “My Password” in the password makes it stronger
• It is advisable to leave spaces within the key. For instance, one can use “My Password” and not “password”
• Use misspelled words such as “My Pas$word,” no magic spells will unfold the misspellings to the bad guys
• Use long passwords with unique characters constituting of uppercase, lowercase and special characters that are not easy to trace
2. Stay Secure By Keeping Your Information Private
It is a common knowledge that any information shared is no a secret anymore, and it is quite dangerous sharing crypto trading details with other people. Everyone wants money and riches, there is no way you will share information that could enrich another in seconds and expect them to play cool about it.
You don’t want to try that with your “trusted friends,” they will wipe it clean and you might be in for a rude shock. It is not advisable to share your crypto account details with other people as that is exposing the accounts to risks and you won't be running around yelling how the industry is full of frauds when it was your indecency that engineered the false. The venture is a private property and any other person must keep off.
3. Avoid Public Wi-Fi
Using the public shared internet resources can result in the worst nightmare any crypto player will have problems withstanding. The public internet connections expose accounts to high risks as these infrastructures are full of hackers who will trace you via the web footprint details and logins, in less than milliseconds you won’t have control over your account and in case you will, perhaps you might only be able to check your personal profile. Take precautionary measures never to use the Wi-Fi services at the hotels, airports, coffee shops, stores and other public amenities as they are target grounds for hacking.
In the event that one is prompted to access personal cryptocurrency platforms in the public network infrastructures, they should consider using options of TunnelBear or ExpressVPN. These are Private Virtual Networks which are instrumental in securing your details from interception by the online hawks. A VPN serves effectively in securing your system by hiding your IP address, identity and location making it hard to identify the device you are using.
4. Use The LastPass For Storage Of Your Passwords
LastPass is an effective password manager that cannot be accessed by any other person apart from the administrator. It is important to use it since the account owner will not have to remember the passwords every time. Besides, using the manager eliminate situations of forgotten or wrong passwords that could block the account. The logins are available whenever needed.
Also, the manager employs similar security procedures unique to cryptocurrencies in safeguarding the accounts from hackers. One important feature of the password security manager is that it makes the passwords and any other stored information unreadable and safe even if the system is hacked so that the accounts cannot be compromised.
5. Stay Cautious While On Social Media
Most crypto traders have formed those platforms on the social media such as Facebook, WhatsApp, Twitter and Instagram among others. You don’t want to share your crucial information regarding trading on cryptocurrencies on these media. They make perfect platforms where hackers find their potential clients and clienteles. The people on these media are quite inquisitive and they can obtain significant leads good enough to grope through your systems and cause unsustainable massive havoc to the accounts.
Furthermore, ensure that the emails used for running the social media accounts are different from those in the crypto accounts. This can be done by setting different private emails for the trading accounts to reduce associated risks.
6. Share The Information With Your Potential Heir
Details about the crypto trading must never be shared but one can only do so with a trusted person who is a potential heir formidable to inherit their possessions. It is important in cases of emergency so that the savings do not remain dormant or reverted by the company in the end. It is thus vital to provide the individual with access information to manage it in times of eventualities.
7. Avoid Inappropriate Websites And Emails
There are several fake websites paraded as genuine crypto agencies. A lot of precaution should be taken especially by inexperienced individuals newly venturing into the portfolio as one can end up providing too many details that can easily be used to trace them and bring them down. Besides, one can go as far as investing in the fake websites only them only to become victims of fraud.
There are also fake emails, the infamous “Phishing” that can be used to fetch significant information to steal from your crypto accounts. It is important to perform an exclusive investigation of the most prospective company to trade with and avoid saving with fraudulent agencies. These are also numerous Ponzi schemes in the industry to which investors must not fall victims.
8. Use Updated Systems And Applications
Once enrolled in the crypto industry one should stay current with the company policies and implement the latest updates to add new security features to their systems as implemented by the companies. Also, install effective security applications and antivirus that will keep your systems at bay from invasion by fraudsters.
Strong reputable antivirus software can effectively firewall the systems from malware designed by hackers to read through the activities of an individual while they are online. Also, the account owners can consider adding the 2 Factor Authentication to the accounts they are running. It can be achieved by using the Authy application.
9. Spread The Cryptocurrencies Into Different Wallets
Spreading the cryptocurrencies into several wallets is also a secure way to keep your virtual money safe. It will be a task to access all the wallets fraudulently before getting noticed by the agencies.
The listed ways are instrumental in keeping a crypto accounts safe while investing in the venture. Crypto investors who have implemented the stated safety measures have no problems with their savings and have the best experience meeting their investment goals in the industry.