How to keep your crypto wallet safe?

As cryptocurrencies become more popular and valuable, more and more cybercriminals are turning their attention to them. There are 2 main types of crypto wallets: hot wallets and cold wallets.

Hot wallets are generally web-based wallets, mobile wallets or desktop wallets. A great advantage of this type of wallets is the ease of use, because they are always connected to the internet. But this also comes with a disadvantage, they can be an easier target for hackers. Cold wallets are physical devices, without internet connection, which makes them more secure.

What are some of the best practices you can do to increase your wallet security?

  1. Avoid making transactions when connected to a public Wi-Fi network

Public Wi-Fi networks can be dangerous because they are prone to  many types of cyber attacks. A very common case is the situation where the hacker positions himself between you and the connection point, so that all the information passes through him.

2. Have multiple wallets

If you have significant amounts of cryptocurrencies, storing them in a single wallet can become very dangerous. Such a valuable wallet is certainly of interest to cybercriminals

3. Use a unique and strong password

It is recommended that you use a unique and strong password for any account you use, especially in the case of a virtual wallet. If the password is strong enough, the chances of the wallet being compromised will be significantly reduced. It is also a good practice to change your passwords regularly.

4. Enable Two-Factor Authentication (2FA)

Even with a very strong password, there is a risk that hackers will know your credentials.Using Two-Factor Authentication, even if someone knows your password, they will not be able to log in to the account. It is a new layer of security that is good to be activated.

5. Do not open suspicious links

If you receive an email with suspicious links, it’s a good idea to confirm the sender’s identity, as this can be a phishing technique. It is dangerous to open unknown links, as they may compromise the security of your device.

6. Use a reliable platform

It is important who you trust. A big platform, with many satisfied users, which comes regularly with security updates, looks reliable. In many cases, these platforms will use the services of cybersecurity companies to help them make the platform more secure.

The online space can be dangerous, but by following a few techniques you can increase your security, privacy, and the chance of not being a victim of cyber criminals.

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