How to Secure your Crypto Wallet?

Jodie Snow  2019-09-13 01:44:53

Cryptocurrency does offer better privacy than, say, a credit or debit card. However, cryptocurrency itself isn’t regulated by formal organization and your cryptocurrency is only as safe as the place where it is stored. To keep your property safe, use a secure wallet, maintain strict security protocols seems useful under such circumstances.

  1. 1Create a complex password and change it regularly. When you first set up your wallet, come up with a long password that includes numbers, special characters, and both capital and lower-case letters. It should be difficult for anyone else to guess, but also relatively easy for you to remember. If your computer has a password manager, it can create a random, encrypted password for you. However, if you use a password manager, make sure you have a strong, complex password for your computer. With a password manager, anyone who can access your computer can access all of those passwords.
    • 2Use a separate email address for cryptocurrency purposes. If your email is hacked, the hacker could also gain access to your cryptocurrency. Set up a free email address that doesn't include any information, such as your name, that would be easy for a hacker to guess. For additional security, use different email addresses for your exchange account and for all wallet accounts. Use those addresses solely for that account, and for no other purpose.
      • 3Enable two-factor identification (2FA) on all cryptocurrency accounts. With 2FA, the service will send a code to your phone or email account every time you attempt to log in to your account. You must enter that code within a brief period of time to access your account.
        • 4Download all security updates promptly. Software and mobile wallets update periodically to protect and counter new threats. To ensure you're using the most secure version of their software, update these downloads as soon as they become available. In addition to the specific app or software, download all updates for your operating system and virus protection software as well. The app or software is only as secure as the environment it operates in.
          • 5Encrypt any device where you access or store cryptocurrency. Operating systems typically come with encryption technology that you can enable in your preferences. You can also download encryption software to run on any devices you routinely use to store cryptocurrency or make cryptocurrency transactions. Also encrypt your wireless network to ensure no one can access information stored on a networked computer or transferred over the network. Do not make any cryptocurrency transactions over public WiFi or any other insecure network.
            • 6Safeguard your seed phrase or mnemonic passphrase. Secure wallets generate mnemonic phrases that you can use to recover your cryptocurrency wallet if your hard drive crashes or you otherwise lose access. Write these passwords down, and keep them locked away in a safe or other secure location. Don't rely on memorization for storage of mnemonic phrases. In the heat of the moment, you could forget or mistake the phrase. Make more than one copy of the phrase and keep them in different places, in case one of them is destroyed.