Cryptocurrency – Security Guidance

It’s better to be safe than sorry. Cryptocurrencies are intangible digital assets that could not be touched or stored physically. It is stored online or in hard wallets that may compromise with security due to a little but carelessness. If we do not take care of it, there are many chances that may cause the loss of your crypto-holdings. To keep cheats and frauds away, one should always try to follow some rules and guidelines.

Cryptocurrency – Security Guidance

Here we have listed down guidelines to follow that will level up your security on your crypto-holdings.

Basically, it is parted into main two sections, based on online activities and offline activities.

1) Based on online activities

  • Strong Passwords

Password is a main factor of your security. Choose a very secure password that is including small letters, capital letters, allowed signs, numbers and make it super strong. Do not use same password on every platform. Setting password recovery sources is ideal in case if you doubt on losing it. And one more important thing, do not ever store your password on any online accessible platforms such as cloud storage or any third-party storage providers.

  • Do not open suspicious links, websites

Never ever open links from the same device. Make sure the links are from officials, authentic and secure. Stay away from harmful and unsecure websites.

  • Never trust people easily online

Make sure the person you are dealing with is trustworthy. Never be afraid to ask for proof if the person seems to be suspicious.

  • Using alternate email IDs

Using alternate email ID for the cryptocurrency related activities is recommended. Keeping your personal email away may help to handle things easily.

  • New transaction with new address

Yes, we can use a new blockchain addresses in every new transaction and later transfer all funds to the main address or keep it divided into several addresses.

  • Beware of phishing and other fraudulent schemes

Fraudsters are always in search of phishes from where they can cheat and fraud. Phishing technique is widely used to commit frauds as well as crypto-jacking, malvertising and many other such activities that we have to keep away.

  • Keep data backup

Keep daily, weekly, or monthly data backup in external devices to avoid data loss that is important.

  • Two-factor Authentication

To secure your account, IDs, such devices; unable two-factor authentication on every platform to validate unofficial logins.

  • Audit accounts on a daily basis

Keep checking account activity daily to make sure no one else is handling the same account. Change login information as soon as possible if there is anything suspicious.

 

2) Based on offline activities

  • Write down passwords and keys and keep it in a safe place

Digital Wallets are accessed by passwords, keys and backup phrases so it is recommended to store this information somewhere personally on papers, books, or in the diary for the safety in case if you forget one.

  • Use safe device/ keep your device safe

Using a safe device is a priority because no one knows if some kind of malware has been inserted in your device intentionally. Security in the device must be high enough to prevent outside attacks.

  • Avoid using public Wi-Fi

Public Wi-Fi is the source of getting connected device’s information easily. These Wi-Fi are not secure enough and that may cause damage into your device.

  • Keep your private keys located on safe place

If you are too, a person who has not strong memory power to remember all the passwords and account information than you should have it in written form and keep that material at a safe place.

  • Consider using Hard wallet if possible

Hard wallets are considered more secure as compared to hot wallets. It is accessed only when connected to system either way there is no chance to get into wallet.

Use protected device

To be completely stay hidden and not be traced by anyone, use private network (VPN) and private browsers.

Keep your identity private

And last but not least, keep your identity private to avoid personal life conflicts from the digital world.

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