Advanced Security Practices for Safeguarding Your Crypto Assets

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In this article, we will be having a quick discussion on some of the best and easy-to-follow security practices you can be mindful of to safeguard your crypto assets. Let’s get started!

1) Choose a Secure Wallet

First things first, make sure that you have a safe and reliable wallet to protect your digital assets. Consider hardware wallets like Ledger or Trezor for top-notch security, especially for large amounts of cryptocurrencies. Software wallets are a good choice as well but be sure to choose a reputable one with a strong security track record and keep them updated. 

2) Enable Two-Factor Authentication (2FA)

Add an extra layer of protection by enabling 2FA on all your cryptocurrency accounts, including exchanges and wallets. Why does this help? It’s simple! When you add 2FA, it requires an additional verification step when accessing which makes it difficult for hackers to make an unauthorized access.

3) Create Strong, Unique Passwords

This is an absolute no-brainer but important to mention it nonetheless. Make sure that you use difficult passwords with a mix of uppercase and lowercase letters, numbers, and special characters. Avoid easily guessable information and never reuse passwords across multiple accounts. Also, using a reputable password manager for added security would be a good idea. 

4) Be Mindful of Phishing Scams

Make sure that you always stay on guard and watch out for phishing scams by verifying the authenticity of emails or messages from unknown sources. Try not to click on suspicious links and always confirm the sender’s identity before you give them any of your personal information. These are little things but can prevent you from getting yourself into big problems. 

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5) Protect Your Private Keys 

Your private keys are like the keys to your crypto kingdom, so please don’t share them with anyone and also try to not store them online. What you can do instead, is create a secure backup and keep it in a safe location.

6) Regularly Monitor Your Accounts and Transactions

Make it a habit to review your cryptocurrency accounts and transactions on a regular basis. Make sure to have notifications on for significant activities and report any unauthorised access at the earliest.

7) Stay Informed about Security Updates and Threats

Stay updated with the latest security news and best practices in the cryptocurrency space. Following reputable sources and experts will help you address potential risks and protect your investments.

8) Try Using a VPN

When using public Wi-Fi, protect your data and privacy by using a Virtual Private Network (VPN) because it encrypts your connection, and makes it difficult for hackers to intercept your information.

9) Educate Yourself on Common Cryptocurrency Scams

Knowledge is your best defence against scams, so take out some time and do some research and familiarise yourself with common cryptocurrency scams like Ponzi schemes and fraudulent ICOs. Also, conduct thorough research before you decide to invest in any project or platform.

10) Exercise Caution with Mobile Devices 

Two-factor authentications often rely on smartphones for receiving alerts or codes, so you can be a little proactive about this and improve your mobile security. 

You can easily reach out to your phone provider and provide specific rules that can safeguard critical information for example you can instruct that your cell phone carrier never port your phone number. This makes for an additional layer of protection for your digital assets and makes it difficult for people to gain unauthorised access.

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Moreover, you can set up a rule to prevent call forwarding, which can also minimise the risk of your phone number and sensitive data being stolen or intercepted. 

11) Keep a Low Profile

While sharing success stories is tempting, be cautious about disclosing your cryptocurrency holdings publicly. Maintaining a low profile reduces the risk of becoming a target for hackers and criminals.

I hope this article has served as a resourceful guide.