Given the increasing popularity of cryptocurrency, security actions must be designed to secure our investment portfolios and wallets safe, as there have been specific attacks against some cryptocurrency holders and fund wallets. Cryptocurrency has become more open and vulnerable to attacks now more than ever. If you are attacked, all your funds will be lost as internet fraudsters will have access to your wallet, and you may not be able to recover your funds any longer. To stay safe away from internet fraudsters and hackers and to keep your cryptocurrency investments and wallets secure, kindly follow the following steps.
1. Secure your Personal Computer
This is the very first step to staying free of hacking. Here, you have to consciously update your antivirus and computer firewalls to protect your cryptocurrency transactions. Here, we do not assume that the computer’s security is updated, we have to continuously check as it takes one moment of vulnerability to have your personal computer hacked. Also, you could consider installing the most updated operating system.
Also, consider having a dedicated PC for cryptocurrency trading. This implies that you have one device used solely for that purpose- selling and buying cryptocurrency. This reduces the risk of vulnerability to the barest minimum as a multi-purpose computer is likely to contract computer virus because of the full range of application software installed into it.
Also, make sure you do not ever log in to your cryptocurrency account on a public Wi-Fi. It is relatively easy even for amateur hackers to send data packets to public Wi-Fi connections and collects information through their routers. These amateur hackers use keyloggers that track the keys of the websites visited.
2. Make your passwords more difficult and complex to hack
After investing tons of money into cryptocurrency accounts, the passwords used to secure them must not be lazy that any half smart internet fraudster can hack. Create strong passwords with a minimum of 15-20 characters, including alphabets, numbers, symbols, both on lower and upper cases. The password of a multi-million-dollar crypto wallet should look like nonsense as if this logic is followed; the password becomes undetectable and incomprehensible by internet fraudsters.
3. Encrypt your Data
This involves the use of encryption software to safeguard your cryptocurrency wallets. Here, double-layer encryption software is implemented with the sole aim of making it extremely difficult for it to be hacked. This software allows the user to safeguard the hard drives encrypted and impenetrable for it to be hacked in the event of it been stolen.
4. Be Careful About Mobile Authentication
It’s easier to choose a mobile authentication option because you’re always with your mobile device. The issue here is that hackers and cybercriminals are consistently inventing new ways to bypass or even hijack your phone number, so they receive your password recovery instructions. All they must do is transfer your line details, and they will have all your information. So, do the smart thing and instruct your cell phone carrier never to port your line and deactivate call forwarding. If you must sign up for services and do not want to use your number, there are multiple options, such as Skype numbers, Pinger, and Google Voice.