HOW TO SECURE YOUR CRYPTOCURRENCY
The concept of self-sovereignty, or the idea that a user can operate as their own bank, lies at the heart of cryptocurrencies. If you correctly secure your money, even the most heavily guarded bank vault won't be able to access it. If you don't, there's a chance that someone may remotely empty your digital wallet.
As you down the bitcoin rabbit hole, learning how to securely store your digital cash is an essential step. Additionally, it's not just about storage. These days, a lot of bitcoin owners engage in DApp interactions in the DeFi space, therefore you should learn how to handle your funds safely.
You shouldn't trust your coins with any arbitrary DApp, just as you wouldn't let an unreliable company manage your money. The same holds true for exchanges where you can buy and sell cryptocurrency. We'll go through some of the top methods for protecting your crypto assets no matter where they are in this article.
If you registered for your exchange or selected trading technique, abide by accepted best practices to protect your account. These guidelines are identical to those you would follow when protecting sensitive information like your online banking password. It's simple to prevent others from accessing your account and its funds by:
- Making use of a strong password you update frequently.
The password shouldn't contain any personally sensitive information, like your birth date. Assert that it is lengthy, specific to that account, and composed of symbols, numerals, lowercase letters, and uppercase letters.
- Two-factor authentication (2FA) must be enabled.
If your password is stolen, 2FA via a YubiKey, authenticator app, or mobile device adds an additional layer of security. When logging in, you must use both your password and the 2FA technique.
- Being on the lookout for email, social media, and private message phishing scams.
Fraudsters usually pretend to be exchanges and reliable people in an effort to steal your money. Additionally, avoid downloading software from untrusted sources as it can be infected with malware.