Crypto Academy Week 5 Homework Post for @gbenga

in SteemitCryptoAcademy2 years ago (edited)

I will prepare this homework in English as Professor @gbenga has difficulties in writing non-English. I await your understanding in grammar mistakes.

Securing cryptocurrencies


The value of crypto coins is increasing day by day. Bitcoin has now reached $ 54,000. As the value of cryptocurrencies increases, bad people threaten the safety of cryptocurrency owners. He's starting to trap them. People interested in cryptocurrencies should have experience in ensuring their security. Experience is also obtained by reading and researching. Now I will tell you what you need to do to ensure your cryptocurrency security.

(1) We must use a hardware wallet

Hardware wallets are the most difficult for malicious people to attack. Because hardware wallets work offline. You will only be online when you trade. Hardware wallets are more reliable than other wallets than the wallets we use on the exchange. The control is entirely up to us. The downside of hardware wallets is that they are very expensive. That's why oracles and whales often use hardware wallets. Although hardware wallets are very secure compared to others, sometimes security vulnerabilities can occur.

(2)We must enable two-factor verification (2FA)

Sometimes dangers happen because we trust so much. We should activate two-step verification in order to increase our security in any exchange account, e-mail address or similar places. When we enable two-step verification, we will make the hacker's job even more difficult. Hackers can go through many steps to attack, if we enable two-step verification, the hacker will have a hard time attacking.

(3)We should not share private keys with anyone

There is something we must forget. Whoever owns the private key owns the cryptocurrency. Let's have as many crypto currencies as we want, if we shared our private keys with someone else, we may lose our crypto coins after a while. Since there is no center where cryptocurrencies are connected, we cannot know who stole our cryptocurrencies. To ensure the security of our cryptocurrencies, we must write down our private keys and keep them. We must also be careful that no one has access to it.

(4) Let's check the wallet information we will send

One of the things we need to pay attention to in terms of crypto money security is to check whether the address to which we will send the crypto money is correct. While we thought we were sending cryptocurrencies to the correct address, we may have actually transferred to the wrong address. If you are downloading something from unreliable places and the security level of your computer / phone is low, I can say that you are facing a hacker attack. Some viruses change the address where you will send crypto money and cause you to send crypto money to another address. For this reason, we should check the address to which we will send crypto money several times. It is difficult to check an entire cryptocurrency address. At least we should check the accuracy of the first 5 characters and the last 5 characters.

Viruses called cryptojacking infiltrate your computer. It does cryptocurrency mining using your computer without your knowledge.

(5)Lottery and Airdrop scams

Sometimes we want to have more cryptocurrencies. While doing this, we would like to obtain it in an easy way, shortly, without making much effort. Scammers are aware of this. They can get all your information through bonuses or airdrop traps. From time to time, we encounter airdrop scammers on the Steem blockchain.


(6) Using different exchanges

Using different exchanges is always in favor of the user. Trading on different exchanges will result in less security problems. You can lose all your assets after a stock market is hacked. If you plan to trade, divide your assets by 4 and keep them on different exchanges.

CC: @steemcurator01

Coin Marketplace

STEEM 0.18
TRX 0.05
JST 0.022
BTC 17023.85
ETH 1260.96
USDT 1.00
SBD 2.15