Cryptocurrency
Keeping Crypto Investments Safe: 5 Tips From Cyber Experts
From the commencement of Cryptocurrency, its Crypto security has been a big concern for someone who takes a keen interest in it. This is one of the reasons why Cybersecurity technology is amalgamating with Cryptocurrency since it is getting so mainstream.
Yes, we have Blockchain, which Bitcoin and many other altcoins are based on, but studies and many Crypto hacked cases are proof that Blockchain is not exactly invincible.
Thus, you have started taking personal measures, at the same time avoiding making some of the mistakes, which taught many investors some lessons.
If you are worried about your earned Cryptocurrency and want to know what are the different measures that you can take in order to protect your own asset, then you have reached the right place.
In this excerpt below, we will be discussing five foolproof ways as mentioned by experts, which will help you safeguard your Cryptocurrency investments.
If you are new to the Crypto game and do not know what to do, then start by opening an account in
Why Do You Need To See Beyond Blockchain?
This is a common question that we always get.
When Blockchain claims itself to be one of the safest technologies to protect all the Cryptocurrency (through its permanent Blocks containing all the information and it being hard to hack), do we need other measures?
First of all, Blockchain is not invisible. Hackers and ‘miners’ have already hacked into Blocks by creating duplicate Blocks through Forking.
Second, you should still protect your Cryptocurrency earnings mostly because we are seeing people getting scammed with email redirecting to malware links and deep fakes.
There are ways to get the Block’s information. Thus, you must be cautious rather than putting your entire trust in Blockchain.
Plus, always check your transactions with a Bitcoin hack review for that extra layer of protection.
You must know the different security measures and how you are going to protect your earnings through them.
Keeping You Cryptocurrencies Save
Here are some of the proven ways which can help you safeguard your Cryptocurrencies. Many pro investors swear by them, claiming that they are much more secure with their earnings now.
1. Diversify Your Crypto Earnings
Hackers are always targeting a region. So, for example, if you have one field of Cryptocurrency income, say Bitcoin, you must also plan on investing in other cryptocurrencies.
In this way, if someone is planning on hacking your Bitcoin, you already have your Ethereum account to mitigate any loss.
2. Set Up Multi-Factor Authentication
Whenever you open a Cryptocurrency account, you will be able to get access to a storage unit called the Crypto wallet. This is something you need to protect at all costs. This will include the unique code which counts all your earnings.
They will also have all the information about your transaction. Thus, when they ask you to secure it, one password is never enough. Try to get multi-factor authentication which verifies your identity at each step.
This is one of the reasons why you should get a hard disk in the form of a Cryptocurrency wallet and an online wallet.
3. Do Not Share Key Code
You might get emails and transaction details as scams; they will either make you click on a link that might contain malware or ask for your wallet’s unique key code.
First, you need to scan the link in antivirus.
Second, no matter what happens, never give out your key code.
Your Block info is enough for a transaction; no one needs your unique key code.
4. Freeze Your Coins
When in doubt, freeze your coin.
In technical terms, this is called ‘staking,’ where you save Cryptocurrency in cold storage and let it sit there for a short period of time.
If due to a volatile market, you are feeling extra insecure, you can stake your digital currencies. You will just not acquire any trading profit from it.
5. Be Aware Of Malware Links & Failed Transaction
This is a tactic that has been coming up in recent years where we are seeing hackers taking advantage of an anticipated situation and throwing malware baits.
These are done by failing a transaction while the amount is being deducted from the wallet.
Your Cryptocurrency, Your Responsibility!
There you have it, five of the popular ways with which you can protect your earned Cryptocurrency.
These also include mistakes that you should definitely avoid, and most importantly, stop making an impulsive decision when you anticipate losing.
