Wallet Security: 5 More Ways To Keep Hackers’ Paws Off Your Crypto

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Mary Ann Callahan, Marketing Manager, CEX.IO

As of the writing of this article, the cryptocurrency market is rising to levels never seen before. Prices are increasing, which is once again leading to cryptocurrency becoming the talk of the town. Major news networks and resources are talking about crypto, which leads to even more people becoming interested in the space.

Unfortunately, more attention coming to the industry also means more people attempting to hack wallets and platforms. With many new users who might not know how to secure their crypto, hackers are becoming more active. There have been many hacks throughout the years in the crypto space, and there will sure to be many more attempts in the future, especially as the industry grows larger.

Because of this, you should put some effort to keep your crypto as safe and secure as possible. With that in mind, this blog post goes over five great tactics for keeping hackers away from your cryptocurrency.

Choose a Secure Wallet 

The first way to keep hackers away from your crypto is to choose the right wallet. This is a storage, where you will put your cryptocurrency. Some wallets will even let you exchange/purchase crypto right in the wallet. The biggest factor in the decision of which wallet to use should generally be security.

For example, choosing storage like WLX Wallet is a good idea as it features encryption, undergoes frequent audits and penetration testing. Be sure to check here if you want to learn more about the wallet and see if it is the right choice for you. In addition to security, you also want to choose a wallet that has a good reputation.

2FA and a Strong Password is Key

If your password is basic or too easy to guess, it can be akin to a welcome mat for hackers. You should choose a password that is long enough and is not related to you and your family at all. For best results, be sure to use a password that contains letters, numbers, and some other symbols.

In addition to a hard-to-guess password, it is smart to use 2FA (which stands for two-factor authentication). This means you will have to provide another piece of evidence to show you are the owner of the account. This could include entering a code that was texted to your phone, or a randomly generated code from an authentication map. 

If someone somehow manages to guess your password, 2FA will ensure your account and cryptocurrency is safe.

Be Cautious of Public Wifi Networks

Always be wary when using public Wi-Fi networks. While they are convenient, they are not secure. Hackers can potentially position themselves between you and the network, which could lead to you sending personal information and details to them.

For best results, ensure you are using a private Wi-Fi connection if you are making trades or transactions. Also, whether you are using your private Wi-Fi at home, or public Wi-Fi on the go, it is smart to use a VPN. This can keep all of your browsing activity safe from unwanted eyes. They are generally affordable, only costing a few dollars every month or so.

Keep a Watchful Eye Out for Phishing

While hackers can sometimes gain access to accounts and platforms through guessing passwords or other means, oftentimes, it is the account owner who gives it to them. Phishing is when hackers send emails or messages that seem legitimate to users. This is done in hopes of coaxing the login details of an account out of the user. For example, they might pose as your wallet or trading platform, asking you to log in with your username and password to verify your account again.

These hackers often set up a web page to look similar to the real thing, which they will link to. Once you enter your password and username, the hacker will know your password and username and have easy access to your accounts.

If you receive an email with a link in it, always be cautious. Look at the sender, as well as the URL, and make sure they are legitimate. In general, it is never a good idea to click a link in an email unless you know with 100% certainty that it is legitimate and not a phishing attempt. Instead, simply go to the actual site of the wallet or platform, and sign in there.

Keep Your Software and Devices Updated

Another tick to keep hackers away is to keep your devices updated. Your phone, tablet, and computer should all be updated to their most recent versions. This is because new updates often patch up any old weaknesses in the security of the device. The same goes for any antivirus software you might be using. Hackers are frequently coming up with new and unique methods to gain access to your accounts (and thus your funds), and security software is always making changes and adding features to keep up.

If you don’t make the proper updates, there could be vulnerabilities in the security of your device that allow these hackers easy access. Their methods are always changing and becoming robust, so you need to take the security of your devices very seriously. While many updates will happen automatically, this isn’t always the case. So, be sure to keep a watchful eye.

In conclusion, these are some of the best ways to make sure hackers’ hands stay off of your crypto. Whether you decide to choose the right wallet, utilize 2FA, or use each of the aforementioned tips, you can ensure that they will help you keep your cryptocurrency safe and sound. Always keep your personal and login information to yourself, as well.