A Crypto HODLer? Here’s How To Keep Your Crypto Safe

Here at Breet, keeping your funds safe and secure is our top priority, but we are all about educating and informing our users and the crypto community at large.

 While we keep your funds safe on our platform, there are a few ways you can also keep them safe. Whether you’re a trader or a HODLer, here are simple ways to keep your cryptocurrency safe.

 

 

1. Use Two-Factor Authentication

Whether you are buying or selling your crypto on an exchange platform, make sure the platform has two-factor authentication. 2FA adds an extra layer of security to your funds and prevents hackers from accessing your funds.

A hacker may be able to steal your password from another site and break it using hash-cracking software, or they may be able to trick you into downloading a malware file through your email, steal your email password, and use the “reset password” feature to take control of your crypto exchange account.

There are various techniques hackers use to steal crypto from crypto exchanges, but enabling two-factor authentication makes them much less likely to succeed.

 

2. Use a Cold Wallet

According to Sellbitcoins.africa, Crypto cold wallets are wallets with offline storage. With cold wallets, your crypto is stored on a platform that isn’t connected to the internet.

Don’t keep more money in exchanges and online wallets than you’re willing to lose. 

Hot wallets are wallets that use online storage so they are more prone to hacking. Therefore, storing your crypto in a hardware wallet keeps your assets away from online hackers. 

 

3. Do Not Share Your Crypto Private Keys or Passwords

Your private keys should be kept…well, private! Private keys are basically key to your crypto funds and assets so they should not be shared with anybody and should definitely not be posted online. 

 

4. Generate Strong Crypto Passwords

Many of us have gone through the phase of creating a password for a particular thing, then forgetting them. 

This should definitely happen to your crypto storage password. More than 12,000 ETH wallets are locked forever because their owners forgot their passwords.

It sounds kind of funny, till it happens to you. Oops.

So, if you are thinking of using your name or your birthday or something that can be easily guessed and cracked, I recommend you have a rethink. 

 

5. Avoid Public WiFi

Although “Free WiFi” might sound tempting, it is not the best option when it comes to cryptocurrency. 

When you’re conducting crypto transactions, you should avoid using open public Wi-Fi. Using Wireshark or similar tools, other people nearby can easily intercept your internet traffic when you use open public Wi-Fi. With the information they get, they can sometimes tell if you’re visiting crypto websites. In some instances, they may even be able to view your transactions.

A lot can go wrong with this and it is easier to avoid. 

 

Conclusion

Above, we have talked about different ways to keep your crypto safe and secure. But as each day passes, scammers come up with new ways to steal your crypto.

While keeping all these tips in mind, always stay at alert when trading and storing your crypto.

 

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...