Cryptocurrency and Identity Theft

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It's really important that we become familiarize with the different forms of identity theft present in the cryptocurrencies space as this we help us avoid them. I mean we can't fall prey to something when we are familiar with the antics.

Cryptocurrencies is built on top on blockchain technogy a very advanced technology known to man offering security and annoymity and yet it isn't immune to scam that's why we should take serious the security of our account and use some advance features like 2-factor authentication to help us secure our account against some of this threats which may come in the form of phishing or malware and has the potential to expose our personal information into the hands of users with malicious intent hence it's vital for us to know this forms of identity theft present and guard against it as I break them down below.

Forms Of Identity Theft We Should Be Aware Of

Just I mentioned earlier phishing is one way scammers try to gain access to people's personal information and often they do this by sending messages to people that contains phishing links which takes them to suspicious or scam websites and this put users at great risk of their personal information being exposed. When we click this link we run the risk of exposing our personal information often information involving our account which they could use to wipe out everything in our account. It then becomes important that we try not click on anything we see without proper verification of the source.

Also we need to be careful of the software we are installing in our device, there are certain softwares that are built by scammers with the sole purpose of trying to compromise any device that installed them. We should be very careful of such malware attacks as it could allow hackers to gain access to information about our account like our private keys which will be detrimental to us. So is vital we try to combat this by being cautious of what we install on our device and also try to keep up to date with latest antivirus softwares this is very crucial in ensuring the security of our account.

We should also know that exchanges could be hacked, yes depending on the security level of an exchange they could be seen as easy target and hence compromised by hackers which put to great risk the funds of all its users as when they are hacked all their users personal information will no doubt be exposed and this will be used to swap their funds leading to significant loss that's why it's always encourage for all in the cryptocurrencies space not to use a centralized exchange as a storage system for their asset as hardware wallets are more suitable for it due to its decentralized nature and hence that's added security.

It's also important that we use or implement 2-factor authentication as it adds extra layer of security and will help to combat hackers who try to swap our sim to another so as to gain information of our account details or any account linked to our mobile number so they will render us useless by making way with whatever they find in our account since they really do not care about account owner, hence implementation of two-factor authentication is a necessity.

Another thing we should avoid is using a password thats so simple. When our passwords is simple is makes it very easy for those with nefarious purpose or malicious intent, hackers to access our account as a simple password means they can easily guess it even. Using a simple password is like making the work of attackers easy for them and that shouldn't be so. Hence for the sure security of our assets a complex and hard to guess password is always a better alternative.

Conclusion

It's always of utmost importance that we stay informed to this information and try to be cautious in the security of our account, and one thing we must always endeavor to do is to ensure the security of our account personal information and especially our set of private keys so as not to compromise the integrity of our account which may be damaging to us as it could or rather will lead to substantial loss of funds if we fail to take seriously the security of our account and personal information.