Source:marketwatch.com

How to Keep your Cryptocurrency Wallet Secure from Hackers?

Cryptocurrency is a new way of storing, sending, and receiving money without the intervention of any government authorities or financial institutions. If you don’t want to use traditional currency, or if you are interested in becoming a real-life “crypto-millionaire,” then cryptocurrency might be for you.

But cryptocurrencies are still an emerging form of payment, which means that there are a lot of risks involved in using them. This is especially true for people who want to invest their money in digital assets.

Don’t let a hacker steal your hard-earned funds. It’s a common misconception that crypto wallets are completely secure. Yes, cryptocurrencies like Bitcoin and Ethereum aren’t susceptible to inflation or counterfeiting, but that doesn’t mean your wallet can’t be hacked.

In fact, “smart hackers” have found ways to access people’s cryptocurrency wallets and steal their money. To keep your digital wallet safe from these “smart hackers,” there are a few simple steps you can take which are discussed further in this article.

Ways to keep your cryptocurrency wallet secure from hackers

1.   Two-factor authentication

Source:blog.malwarebytes.com

One of the best ways to protect your cryptocurrency is by using a two-factor authentication process as a login. You must use two-factor authentication on every single account that you own, not just your cryptocurrency wallet to keep all your accounts safe from hackers and fraudsters. Consider two-factor authentication as an extra layer of protection against hackers.

This means that you will need not only a password but also some other form of verification like a code sent to your phone to get into your account. This means that someone will have to hack both your account password and your phone in order to access your wallet which is quite difficult.

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2.   Use encrypted crypto wallets

Source:businessinsider.com

You should also make sure that any cryptocurrency wallets you use are thoroughly encrypted, which means that no one will be able to read the data on them without special software or knowledge.

You should look for wallets that use personal encryption keys, which allow you to set up a unique code for unlocking access to the data on your wallet. It’s not possible for hackers to steal your funds without encryption keys.

3.   Use a secured device to log in

To keep your digital currencies safe from hackers make sure that any device you use for accessing cryptocurrency storage is secure, especially if it’s connected to the internet. It’s always possible that someone will try to install malware on your computer in order to access sensitive information, so make sure your device has active antivirus and is free from malware.

Also, never download third-party applications on your device from unknown sources. This can hinder the security of your computer or laptop and will give hackers complete access to your device.

4.   Use cold wallets when possible

Source:arbismart.com

Cold wallets, also known as a hardware wallet are not linked to the internet and hence are not vulnerable to cyberattacks and make it quite impossible for hackers to get access to your wallet. These are a physical device that stores your private key and can be an effective way to secure your crypto assets.

Keeping your private keys in a cold wallet is the safest choice because these wallets are fully encrypted.

5.   Verify links before clicking them

Keep your information private, and take a moment to notice your activities as you get further through your day. It’s difficult to predict how a hacker can gain access to your data, but the general rule is to never provide more information than is required.

Furthermore, stop clicking on unknown web links from untrustworthy sources that promise awards, as they may attempt to steal your personal information. These details could be sold, used to generate more spam links and messages, or even used to let hackers breach your networks.

6.   Choose a reliable cryptocurrency platform

Source:worldfinancialreview.com

Make sure that you are using a reliable crypto platform. There are a number of great crypto platforms out there, each with its own benefits and drawbacks. You must choose one that offers you the best combination of security and convenience for your particular needs.

Check online for reviews to see what other users say about the company. You should also check for any information about security breaches on their website or social media accounts. If there have been any issues at all, it might be worth looking into another platform.

7.   Keep a strong password and update it regularly

Make sure your password is strong and update it regularly. The stronger your password, the less likely hackers are able to guess it. If you find you are having trouble remembering your passwords, write them down somewhere safe so that you can access them when you need them. Just be sure to keep that list in a place where no one else will find it.

Also, update your password regularly, don’t keep the same password for a long time. Keep in mind that websites often store passwords as plain text, meaning someone could easily get access to your information if they wanted it badly enough. This is the best way to make sure that no one can access your account without your permission and steal your digital assets.

The Bottom-line

With the increasing popularity of cryptocurrency comes an increased risk of cyberattack. Despite their many benefits, cryptocurrencies are vulnerable to hacking, and it’s important that you protect yourself and your wallet when using them.

These are some ways that will help you to keep your cryptocurrency wallet secure from hackers. Ensure to keep your wallet secure from hackers and other malware on your device, because even a small error can leave you without any money.


Ricardo is a freelance writer specialized in politics. He is with foreignpolicyi.org from the beginning and helps it grow. Email: richardorland4[at]gmai.com