In our previous article we had mentioned about one of the methods in order to keep a person’s cryptocurrency wallet secure.
Method #2 – Use the most Important, Best as well as Safest Wallets
It is more of a common sense for a person to choose the best crypto wallets among the entire lot to store your cryptocurrencies. This is by far the easiest way in order to secure your wallet.
The reason behind choosing the best crypto wallet is mainly because these wallets are secure since while choosing them one would have gone through the various features including security features. But in case you didn’t then please do so hereafter.
The biggest threat to your cryptocurrency investment is not volatility, but the security of your funds.
Few of the security features include PIN code features, Pass-phrase features, as well as (2FA) 2 Factor Authentication features. 2FA is defined as follows- “Two Factor Authentication or 2FA is one of the most powerful ways to go about the security of your account, and we have all been guilty of neglecting it. It adds another level of security to your trading account. With standard security methods being extensively used around the Internet, it is scary to know how easy it has become for cybercriminals to get their hands on your account’s User ID and Password. 2FA helps to make sure that cyber-criminals are not able to log in to your account even if they have access to the account’s credentials.”
It is obvious that a wallet with more security features tend to be better than a one that doesn’t. Another important factor to be considered is the development analysis team behind that crypto wallet. The different factors for the analysing process are –
- Ease of use.
- Control of Private keys.
- Active development community.
- Compatibility feature with various other OS.
- Good backup and security features.
Method #3 – Utilise the Best Practices among the entire Digital World
A person must keep in mind the various digital threats to the cryptocurrencies since crypto is also a digital world, hence, the threats like Trojans or malwares or even bots need to be removed. Basically, the crypto wallet need to be protected from them completely.
Most of the crypto universe is handled through the online services. Few of the online wallets which the user uses are the desktop wallets, mobile wallets, web wallets, etc. So, it is of utmost importance to use these online wallets after securing them.
Few of the key suggestions in order to secure a person’s crypto wallet from the digital world is mentioned below, by following which, you could make your particular crypto wallet one of the most secure as well as a very good non hack-able wallet.
- 2 Factor Authentication
- Usage of the Punycode alert chrome extension in order to avoid the cyber-attacks on yourself. (You could learn more about Punycode hacking by clicking here.)
- Avoid using a public Wi-Fi signal
- Use good anti-virus as well as anti-malware software
- Make sure to check the websites URL more than once in case of using web wallets.
- Install a secure and powerful Firewall
- Ignore installation of un-verified software or apps
- Keep your wallets updated and make sure to use just the trusted wallets
- Keep the passwords extremely difficult to crack but at the same time don’t forget.
More Insight –
These are few of the common crypto wallets used –
- Ledger Nano S – Hardware Wallet
- Trezor – Hardware Wallet
- Exodus – Desktop Wallet
- MetaMask – Desktop Wallet
- MyEtherWallet – Web Wallet
- Coinomi – Mobile Wallet
- Mycelium – Mobile Wallet
(You could click on the links above to use these wallets as well as find out their uses and features.)
By following the above 3 important methods in order to secure your crypto wallet you would be among the safe crypto users with nothing to fear since the hackers would definitely have a crazy time in decoding your account or in other words, they will not be able to hack your crypto account.
a quote which goes this way, “With great power comes great responsibility”.
You have now made your crypto account safe and secure, hence you ought to be powerful, but what about the others who could be prone to cyber hacking and would therefore tend lose huge amount of money?
Hence you must be a novel as well as a reliable person and follow the quote by sharing your knowledge with them. This way the whole crypto universe would eventually be safe and secure. Whereas the hackers would just be job-less and probably go crazy by trying to hack such a powerful network.
Thus with this power of secure crypto wallets in the hands of ordinary people could give way for crypto to grow further rather than many fearing it or finding faults in it.