3 Smart Ways To Keep Your Cryptocurrency Wallet Secure
Some people still ask why they can’t store their bitcoins and altcoins on Binance, inside Coinbase or any other in-built exchange wallet for a very long term!
We all need to learn and apply the best practices of the crypto industry to protect their crypto investments. Your investments are as safe as your crypto wallets.
Keep Your Cryptocurrency Wallet Secure
Go for the most secure and safest wallet.
There are a lot of secure and most comfortable wallet in the market to secure your cryptocurrencies.
The secure wallets give you with the extra security features such as passphrase feature, PIN code feature, and 2-FA authentication features too.
The more security features you have in your wallet, the safest it is. Moreso, don’t forget to analyze the development team that behind the wallet.
Below are the factors on which you can analyze or suggest a good wallet:
Ease of use: Elegant UI for ease of use.https://insurancequotestip.com/wp-admin/post-new.php
Private keys: Wallets where you control your private keys.
Development community: Active development community.
Backup & security: Backup and restore features.
Compatibility: Compatible with different operating systems.
Now that you know the essential things for choosing a wallet, here are a few suggestions from insurancequotestip
- Ledger Nano S (Hardware Wallet)
- MyEtherWallet (Web Wallet)
- Exodus (Desktop Wallet)
- Coinomi (Mobile Wallet)
- MetaMask (Desktop Wallet)
- Trezor (Hardware Wallet)
- Mycelium (Mobile Wallet)
My candid advice for you is to Have more than a Backups
Privacy and safety is an illusion in the 21st century.
In the 21st century, we are in, we backups the things we use, whether it be WhatsApp, music, photos, or documents. Why not keep a backup of our digital money, i.e., cryptocurrencies?
Keeping a backup of cryptocurrencies is somehow tricky because you can’t trust centralized services or cloud services to keep your backup. And this is a big NO from our side too because in this case, as long as service doesn’t get hacked, your cryptos are only safe.
Moreover, the likes of Bitcoin, Ethereum, Monero were made to give the power back in the hands of people, so a decision on giving the power back to some centralized party is a no-brainer.
So, therefore, you must always keep an offline backup of your private keys in a place where you only know trust. Also, if your crypto wallet is an HD wallet, store your seed or mnemonic phrase at two or even three areas that you know of.
You can make your security by keeping the backup of mnemonic phrase and mnemonic passphrase in two different places. In this way, the attacker cannot have access to your crypto wallet with just two things.
You should also keep a backup of PIN code, username, and password as some wallets enable you all these three features. Just in case it has been long enough for you to forget these things, you will have a source to refer if you have their backups.
Use The Top Practices Of Digital World
In the digital world, there are bots, trojans, malware, etc. everywhere while the crypto world is no different from it.
As many people use online wallets such as mobile wallets, desktop wallets, and web wallets it becomes of paramount importance for them to use the best security standard practice in the digital world.
Some suggestions we have to protect your cryptos wallets are:
- Use antivirus and anti-malware software on your desktop or laptop.
- Have a secure and robust firewall installed.
- Use only trusted wallets and always update them ASAP.
- Use 2-FA authentication in case you have stored crypto for a day or two on exchanges.
- Avoid accessing your crypto wallet from a public wifi.
- Never install unverified software or apps on your device.
- Don’t get phished and always check the URL twice before accessing your web-wallets.
- Use Punycode alert chrome extension to doge the phishing attacks on yourself. Learn more about Punycode hacking here.
- Don’t use brain wallets and keep your passwords very hard to guess or brute-force.
By following all these, you can vouch that your crypto wallet is one of the most challenging wallets intruders can hack.
Therefore, it is essential for every one of us to learn as well as teach others if we want to make this revolution inclusive for all.
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