A lot of people hesitate from dipping into the brilliantly diverse world of cryptocurrencies and digital wallets solely due to the lack of trust in the safety of investing in it. Now although the topic of security is a valid reason, is that not something that comes attached with money and finances?
Just as the digital world brings new problems, it can also bring us new solutions. It could be only the matter of staying informed, through learning internet etiquette and safety one can always keep their cryptocurrency business safe and secure.
Here are some security tips in order to keep your digital wallets and cryptocurrency transactions safe and fraud-free in 2020.
Table of Contents
Security Tips
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Beware of phishing
Phishing is a very common form of scamming that takes place. In this technique, the hacker creates an almost passable version of the exchange wallet page used. They then send a link to this mirror page via email.
These emails are usually extremely convincing, this leads to the individual visiting the page and entering their data. This data is then stolen by the hackers
The best way to avoid this is to ensure to check the link of the page in the email to the one usually visited by you. A fool-proof hack that allows for easy checking.
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Device Safety
It is crucial to keep your devices protected and constantly updated. Protect your device by having a firewall in place as well as ensuring an antivirus is installed as well. Additionally, beware of flaky websites and attachments.
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Do not use public WiFi
Free WiFi can often be tempting but there are many risks that come along with it. Accessing public WiFi can lead you to browsers that could mimic the information you have stored on your own. If this cannot be avoided, ensure to use a VPN instead.
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Password Difficulty
As difficult as it might be to remember a password, the password is the first wall of protection to your information and cryptocurrency. Ensure to follow all the suggestions provided to make a strong password.
Apart from that, you could use a personal memory or token to make up a strong password. You can also use random password generating applications as well.
The recommended way to store a written-down password is to do so offline. Put it down in a personal diary or journal that no one else has access to.
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Two-factor authentication
Most, if not all password-based applications are using two-factor authentication to provide you with an extra layer of protection. Ensure to enable this option as it requires more than just the password.
The two-factor authentication is usually linked to your personal phone number and requires a one-time code sent via text or call.
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Private holdings
One of the best ways to keep your cryptocurrency safe is to not let anyone know the details of it all. You can always confide in the people you trust but it would be a good start to not gab about your virtual on-goings to anyone that would listen.
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Final Words
Here are some security tips that one can follow in order to avoid fraud and malware attacks while keeping their virtual wallet and cryptocurrency transactions safe in 2020.
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