It’s becoming increasingly important to focus on keeping your wallets safe. There are plenty of hackers and other cybercriminals looking to get their hands on your crypto investment. Check out five essential tips on how to make that doesn’t happen.
One of the major topics in the world of crypto is security. The threat of cybercrime has never been bigger, and crypto wallets are a primary target. It’s almost unbelievable, the amount of crypto that is frequently stolen. It’s become a common event at this point. Cybercrime is expected to keep on increasing and as a result, cybersecurity is adapting.
This also means that it’s more important than ever for crypto investors to protect their wallets. No matter how big or small your wallet might be, it’s a target for cybercriminals. We’ve gathered five tips on how to make sure that your crypto wallet is as safe as possible. You can find much more information on cryptocurrency and on keeping safe while buying, selling, and storing your cryptocurrency at https://cryptomeister.com/.
1. Use a cold wallet
The best way to protect your crypto is to use a cold wallet. Cold wallets are offline wallets, whereas hot wallets are connected to the internet. There are advantages to both types of wallets. A hot wallet is possible to access anywhere, but it comes with a much higher risk. That’s why you should use a cold wallet to increase the level of security.
2. Enable 2-factor authentication (2FA)
One of the best security measures of all is 2-factor authentication. You should always protect your wallet with this. It is almost impossible for hackers to breach your account when you enable 2-factor authentication. Never share your code with anyone. Hackers will try to get it out of you.
3. Protect your seed phrase
When you create your account, you will most often get a protective seed phrase. Your seed phrase is a random combination of 12 to 24 words. This is another security measure that you need to keep safe. If you forgot your seed phrase, there’s no getting it back or accessing your account. Keep it somewhere offline to make sure it’s safe.
4. Keep a strong password
Most people use the same password for almost all of their accounts. This is the worst thing that you can do if you want to stay safe online. You should do the exact opposite. You should always choose unique and strong passwords. Especially, when it comes to keeping your crypto wallet safe. Choose a password that consists of completely random words and letters.
5. Place your investment in multiple wallets
The last piece of advice is to always keep your investments in various wallets. It’s self-explanatory why this is a good idea. This is one of the best ways to secure yourself against hackers. If they do get access to one of your accounts, they will only access a small amount of your portfolio. It’s the best way to minimize your losses if all other security measures should fail.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.