Top Useful Tips on How to Protect Your Crypto Assets

(Crypto Assets) The world of cryptocurrency and blockchain technology has grown rapidly in the past few years.

With this growth, there are many individuals looking to make a quick buck by stealing from others. With these security threats, it is important to know what you should and shouldn’t do when it comes to your crypto assets.

Once a hacker has gotten a hold of your private keys, they can take the funds in your cryptocurrency wallet. This situation has been the story of many in the early days of cryptocurrency.

Now, these events happen less frequently, but they still pose a threat.

Take steps to protect your crypto assets online with these top useful tips so you can feel safe in the digital space!

How To Protect Your Crypto Assets

This first step to protect your crypto assets is understanding what they are and how they are kept. For many beginners, they are unaware of some of the finer details of cryptocurrencies.

This is one of the many reasons why you may not know what can be done in terms of protecting your digital assets.

Your digital assets need just as much protection as any other form of wealth you may have. Essentially, knowledge is your first line of protection.

Bitcoin is the most popular cryptocurrency, and it has a public ledger – that means anyone can see how many bitcoins you have.

And while Bitcoin may be the top dog, there are other cryptocurrencies with anonymity as one of their key features.

Crypto is becoming one of the leading ways in which people are developing wealth. That, as with any other form of wealth, there will be those looking to gain it in underhanded ways.

So, for beginners and experts alike, how do you protect your assets? Here are some useful tips.

Be Aware of The Threats

Know what threats will come from where, so you won’t fall victim to them yourself. For instance, malware might seek out computers connected to cryptocurrency wallets for their own gain (e.g., Bitcoin).

So, if possible, disconnect any devices containing crypto assets from the Internet when they’re not being used (e.g., laptops) and always keep antivirus software updated.

Keep Your Devices Safe

Guard your devices and information with encryption software that can keep the contents hidden from others if you lose it or someone steals it.

Make sure to enable hardware lock functionality on any device without a fingerprint scanner so thieves cannot open them up and access data stored inside.

Use anti-theft tracking software as well in case anyone does steal something off of you while out in public (e.g., Find My iPhone).

Use A Password-Protected Wallet with Backup Keys For Your Private Key

Do not share your private key, password, or backup keys with anyone else so they can’t access your funds even if you lose them.

A hardware wallet is one of the most secure ways to store digital assets and keep them safe from hackers. Hardware wallets provide a way to securely generate an address offline without connecting it to any third-party servers that could be hacked (i.e., exchanges).

This means you are in control of all transactions made at this address; no hacker can take away what belongs to you by compromising these devices like we’ve seen happen with exchanges in the past.

Keep Your Computer Updated and Install Antivirus Software

This is a must! You never know if someone will take over your computer or run malicious software that could expose your private keys, passwords, and other sensitive information to hackers on the internet. Make sure you install antivirus software so you can protect yourself from these threats as well.

Use Two-Factor Authentication Where Possible

Another important step towards security for both beginners and experts alike is setting up two-factor authentication (using an app or text message sent to their phone) when signing up for web services like email providers, social media accounts, etc… This means even if someone gets hold of your password, they won’t be able to log in without this second layer of verification.

Stop Your Unused Devices from Connecting To The Internet

If you don’t use it, stop it from connecting to the internet and being at risk for hackers! This is one simple way to avoid someone getting hold of your private key, password, or backup keys by using your device when they shouldn’t be able to access it.

Be Vigilant in Reading Emails

Even if we’re not aware of them, there are always phishing emails – carefully crafted messages that try to trick recipients into giving up their passwords or downloading malicious software disguised as a trustworthy file.

Check with an IT professional before opening any attachments (even those from people you know) and never click on links that you’re not sure about.

Use Two-Factor Authentication Where Possible

Another important step towards security for both beginners and experts alike is setting up two-factor authentication (using an app or text message sent to their phone) when signing up for web services like email providers, social media accounts, etc…

This means even if someone gets hold of your password, they won’t be able to log in without this second layer of verification.

Encrypt Your Data

Choose a good password and encryption that is difficult to break. Use encryption software for your emails, chats, tweets, etc…

These types of software often come with features that can be integrated into various platforms. Encryption can be used with any device, including smartphones, laptops, and desktops.

Don’t Share Your Private Key with Anyone Else!

Do not share your private key, password, or backup keys with anyone else so they can’t access your funds even if you lose them.

Sharing these details will result in irreparable damage being done to your crypto assets, so be careful!

Use A Password Manager

This is a highly recommended way of keeping track of all your passwords and can be used on any device (smartphone, laptop, or desktop). Use one that offers two-factor authentication so you’ll never have to worry about someone getting hold of them.

Though this takes a bit more time, it will be a lot harder for someone to gain access to your accounts. Most of these systems will also send a notification to your cell phone or other devices when a sign-in attempt is made. 

Back-Up Your Data Regularly

It’s always a good idea to back up your data and store it in an encrypted format. This will ensure that even if you lose access, these files can’t be used by anyone else without the password or passphrase needed for access.

One of the worst scenarios to be in is losing all of your data and along with it all of your access codes.

If you don’t have them stored somewhere else it can sometimes be impossible to get back.

Use A Virtual Private Network

When surfing the internet on your mobile devices, you leave digital footprints everywhere. But this doesn’t need to be a problem if you use a virtual private network (VPN) service like NordVPN: it encrypts your data before sending it over public networks and leaks zero bytes of information about what you’re doing or where in the world you are.

Stop Using Public Wi-Fi Networks Whenever Possible

Public Wi-Fi networks can be a hacker’s paradise because they don’t require registration, making them difficult to track down for prosecution if illegal activity is detected.

This is why it’s best not to use public Wi-Fi unless absolutely necessary and when you do use them, you should be sure to use a VPN service with strong encryption and an extra layer of protection.

Use A Different Password for Every Account

This is one way to protect your crypto assets against hackers who may want access to every account they can find on the internet.

It’s not enough just to have different passwords – the passwords also need to be strong and have different combinations of letters, numbers, capitalization, etc.

Cryptocurrencies are a hot topic in the world of finance. Investors have been looking for ways to protect their crypto assets, and hopefully, this list has helped you find new strategies for doing so online with cybersecurity tips that can be applied to all digital platforms, including email providers, social media accounts, blogs, etc…

The most important thing is not just creating different passwords or using encryption software – it’s also about making sure these passwords aren’t being shared with anyone else!

It may take some time and effort, but if your data is worth protecting, then consider adding these seventeen security tips into your life.