Online Security: Top 5 Ways to Keep your Crypto Safe
Crypto and security are inextricably linked.
Without privacy, cryptocurrency is useless.
If your currencies are not fungible, you forfeit many of the advantages of utilizing cryptocurrency in the first place.
However, privacy is not only won and lost On-chain.
Many of the privacy gains from sending, spending, and exchanging crypto occur off-chain, as you go about your business on the internet.
As a marketer, I am aware that virtually all firms (with a few exceptions) collect data on what you do online.
That is why maintaining your privacy online is so important — it might be difficult.
So here are my top recommendations for safeguarding yourself without spending any money.
- 2 Factor Authentication is essential!
Use two-factor authentication for every online account that has a direct or indirect connection to your cryptocurrency.
Yes, it adds friction, but the extra 20–30 seconds it takes to log in are well worth the increased protection you provide for your accounts.
It is okay to spend extra 30 seconds rather losing all your funds.
If feasible, I strongly advise using a robust authentication tool such as Google Authenticator or Duo Security instead of SMS-based 2FA.
If SMS-based 2FA is the sole option, need a one-time 2FA code to be provided to your smartphone every time you log in — this ensures that someone cannot access your profile if they have hacked your password.
Consider not utilizing a service if it does not provide any of these alternatives.
2. Use a Unique email to open an account on Crypto exchanges.
While it may appear strange, it is preferable to create crypto exchange accounts with an email address that does not include your name.
Your primary email address is likely to be easily located online.
If that is not the case, it may most likely be purchased on the dark web along with other personal information obtained from one of the thousands of data breaches that take place each year.
Once fraudsters get your email address (particularly if they know you have crypto), you will almost surely start receiving phishing and malware-containing emails.
To be secure, create a new email with a strong password that you exclusively use for crypto exchanges and online wallets.
This reduces the likelihood of receiving harmful emails in your inbox.
This has two advantages:
If your primary account is compromised, the hacker will have no knowledge of or access to your crypto activity.
Second, if you use a fully encrypted email account, prying eyes at border control and other government agencies will not be able to read your emails.
3. Enable Adblocker!
A free ad blocker will prevent advertising on all internet sites (including Facebook, Google, and YouTube), all applications (including games and music streaming services), and all devices on your computer and smartphone (laptops, smartphones, and TVs).
It may also be installed on your router to protect every device in your home from advertisements.
You may use AdBlock Plus to:
- Surf the web without being bothered by intrusive advertising and trackers.
- Determine which websites are giving you unsolicited stuff.
- Remove pop-ups, banner ads, and pre-roll movies.
- Browse more quickly and save data
- Take advantage of a more simplified browsing experience.
- Create rules to restrict certain advertising, such as those pesky pop-ups!
FYI: Not a advertisment post.
4. Stay quiet about your Holdings.
It may be tempting to brag about how well your cryptocurrency portfolio is doing during a bull market. But nothing good will result from it.
TBH, nobody cares what Cryptocurrencies you own, what wallets you use to store them in, or what your plan is for purchasing and selling your Crypto.
Feel free to interact with your community and conduct Cryptocurrency debates, but keep in mind the sensitive and private information you’re giving about yourself and your assets.
By disclosing how much cryptocurrency you have on social media, you put yourself in danger of cyberattacks and physical threats, especially if you use social profiles with your actual name.
Several people have been physically attacked to steal their cryptocurrency assets.
Furthermore, if your email address is discovered online, you will most likely begin to receive phishing emails as well as emails carrying crypto-malware.
5. Store your cryptos off exchanges
When it comes to crypto security, most crypto enthusiasts agree on a few fundamental universal criteria.
To begin with, do not keep the majority or all of your cryptocurrency on an exchange.
If you leave your cryptocurrency on an exchange, the exchange may be hacked or go bankrupt.
This lead to ruining your financial goals or wiping out your life savings.
A non-custodial wallet is the safest location to keep cryptocurrency.
You have total control over your private keys while using a non-custodial wallet.
There are differing viewpoints on the most secure forms of crypto wallets (Article coming out soon).
One thing is certain: you should not keep all of your cryptocurrency in one spot, especially if you have a large quantity.
In this manner, if one is hacked, not all is lost or taken.
To summarise, crypto security is a journey rather than a goal.
Overall, the most crucial aspect of cybersecurity and crypto security is to remain vigilant and cautious at all times.
Hackers are always growing more adept, particularly in the crypto area.
There is always a new scam on the market, so you must be cautious and security conscious.
You can keep your crypto safe by following some basic security precautions.