Cryptocurrency has turned the tables in traditional trading and is now considered one of the efficient ways of gaining profits, without the nonsensical jacked-up fees, the hassle of going to a physical bank, or just the old-fashioned way of stock and bond investments.
A lot of people have jumped into the cryptocurrency bandwagon and now there’s no turning back because for some who have learned the tricks of the trade; it’s actually pretty easy money…if you’re smart enough to keep an eye on its volatility. Since cryptocurrency is a digital cash system that is backed by gold and silver coins; every transaction is done online and that’s called your “crypto wallet”. And although these cryptocurrency platforms are always giving their best shots in upgrading algorithms to safeguard your investments, hackers, on the other hand, are also keeping up with the trend and constantly making strides in figuring out the perfect ways to get into these systems.
If robbers can rob a bank, hackers can also hack your crypto wallet. Sad but true. I guess the only thing you can do is keep them out, by hook or by crook. By doing these top 5 cryptocurrency tips; you can enjoy the fruits of your trade labor – hack-free.
Never Use Public Wi-Fi to Log In
One upper hand you get from meddling with cryptocurrencies is its accessibility because you can simply trade anywhere, anytime; you sometimes use public Wi-Fi even when sitting down for an afternoon coffee. This is a no-no. Hackers are getting smarter by the day and it’s easier for them to access computers in a public Wi-Fi network.
Be Cautious of Your Downloads
Downloading is part of a person’s daily routine. Everything we need is on the web and with just a few clicks of the mouse, it’s downloaded on your phone, at your disposal. While this may sound convenient, the malware from those downloaded files may be inconvenient down the road. The file’s malware has the ability to read strokes and even share user screens. And even when you’re not downloading files, those spams or advisories you see on social media networks or search engines might also be user-information baits, so always play it safe by being extra careful.
Get an Encrypted E-mail Service for Security
One way of accessing user information such as usernames and passwords is by malicious email entry. Secure your email by getting encrypted mail services to fend off hackers from logging in to your email account. There are numerous email security services you can choose from, just make sure you research its efficacy beforehand.
Choose Platforms with Two-Factor Authentication
Sometimes, I do get annoyed about these two-factor authentications, also known as 2FA, that most accounts try to adopt these days; but when you’re dealing with cryptocurrencies, this is considered as a valuable login feature. When you log in, this feature requires you to input a code also sent to your phone. So if a hacker tries to type in your login details, he won’t be able to go through without inputting the 2FA code.
Private Keys Should Be Kept Offline
If you’re using a crypto wallet (which most people are), it’s vital to always keep your private keys either offline or store it in another external drive, or maybe even a hard copy, anywhere where they’re safe. The worst thing that can happen is when someone gains access to your account through malware, they will be able to have full control of your wallet and you may not even realize it while they’re doing their cryptic racket.