Cryptocurrency traders and investors are the ones especially vulnerable to cyber attacks since digital currencies only operate electronically. This is mainly why it is necessary to use a safe and trustworthy online Bitcoin wallet.
Have you ever come to a point where you wondered if someone’s checking on your activities online? Checking out your activity on your Bitcoin wallet? These days, when you can do nearly anything on the internet, your online actions and conversion generate data.
Alarmingly, prying eyes utilize these digital trails to steal, erase, or modify your credentials and use them for fraudulent purposes without your awareness.
Here are a few strategies to dodge the clever traps of cyber criminals in order to keep your cryptos in good hands.
1. Select a crypto wallet that meets your requirements
What exactly is a Bitcoin wallet? It is a specialized electronic gadget used to store, transfer, receive, and track digital currency. There are several sorts of crypto wallets available for you online, and it is critical to select one that best meets your trading and storing requirements.
Another crucial factor to consider is the supplier of the digital wallet. Make sure you receive it from a recognized and reliable source. Some crypto exchanges such as Paxful, offer consumers a free safe Bitcoin wallet free for everyone.
2. Turn on two-factor authentication
It’s also essential to obtain a Bitcoin wallet that supports two-factor authentication (2FA). This adds an extra degree of security to your accounts by demanding verification before performing account operations such as withdrawing and logging in.
3. Protect your Bitcoin wallet by encrypting it
Encrypting your Bitcoin wallet, in addition to activating 2FA, provides another layer of security against cyber attacks. Whenever someone tries to access your account, you may establish a password and lock your coins. This way, the hacker cannot steal your stored Bitcoin unless he knows the password you created.
4. Keep your software up to date
Make it a habit to always update your software on a regular basis. Software upgrades provide you with the most recent enhancements on features and security fixes for your wallet. While turning on automatic updates may be less of a hassle for users, being alerted of new software updates is still preferable.
5. Use unique passwords for each account
Do you have multiple social media accounts currently? If you use the same password for every account, then you’re putting yourself at risk. It’s always a good idea to use various passwords and log in credentials for multiple accounts.
6. Never give your private key
Treat your private key in the same way that you would with your bank PIN. This is the key point to keep your hard-earned money, so better keep it safe and don’t give it out to anyone.
7. Use a secure Wi-Fi connection
Do you enjoy using free public Wi-fi? Hackers, on the other hand, do! Because free internet connections are frequently vulnerable, this is a hacker’s gateway in stealing your personal information. Always be wise and make sure that you’re logging in to a safe and secure internet connection, or else you’ll get hacked and your earnings will all vanish.