Steps to Secure Your Cryptocurrency Wallets
Monday February 03, 2020,
3 min Read
Wallet security is really important to make your cryptocurrencies safe and secured. If the security is not strong enough, then your assets can be the assets of someone else and the chances are pretty less to get them back. You have to follow some security steps to make your crypto assets remain safe with you, in your control.
Secure Your Operating Device
If your operating device is not secured, your cryptocurrency wallet is also not secured. You need to have a secured operating system in your operating device with updated antivirus and firewalls for any of your crypto transaction.
Avoid Public Wi-Fi Network
Public Wi-Fi which is available in restaurants, hotels, airports, parks or any other places may not be safe. So, always avoid accessing your wallet from a public Wi-Fi network. If you really need to log in your wallet from a public network, always access through a secured Virtual Private Network (VPN).
Use Strong Password
Use an extra strong password and a registered email for your cryptocurrency wallet. You should avoid using the names, words, and phrase that can be identified from hacking tools. So use a different password for your wallet which you have not used for any other purpose. Don’t write your password anywhere. If you really need to do this, keep it in a very secure place.
Enable Two-Factor Authentication
You should enable two-factor authentication to be available for your cryptocurrency wallet. If someone logs in with your password, he/she needs the authentication code which will be sent to your email, mobile or authentication app to access your wallet. So, you will get double protection with the two-factor authentication feature.
Encryption also helps to make your crypto wallets safe and secure. You should encrypt your mobile and PC wallet. This security feature protects the application from the surveillance of other applications when the application has been logged off. In case you have lost your device, the encryption will protect your wallet from unauthorized use.
Cautious in Browsers
Always avoid fake emails, websites and any link known as “phishing” that are designed to steal the credential data. Most of the browser's applications are having extension features. So, be aware of any extension installed in your browser that is monitoring your browsing data. You can prefer to use secured VPN that are designed to encrypt and anonymize your online activities. You can also install ad blockers to stop ads from running on your browsers.
Don't put all your eggs in one basket. You can spread your crypto assets in multiple wallets. So even if anything wrong happens in one of your wallets, your crypto assets will still be safe and secure in the other wallets.
Your credentials are your assets. So, always remember to back up your data. Life is uncertain, disks may crash, devices may go up in flames, accidents may happen, natural disasters may occur and there are many other unexpected incidents that may occur in your life. In such circumstances, you need to have a backup plan for restoring your data. Back up your crypto information in a safe and secure place. Share the information with your trusted family member, who is authorized for your assets after you.