Best Practices To Improve Your Security While Investing In Cryptocurrencies

Posted on April 19, 2021 by Crypto King PH and Dean Astilla

Hey Crypto fam!!!

Today let's talk about ways how you can improve your security. My background is actually digital security. I make sure systems, software, and servers have the lowest chances of getting hacked. 

The reality in security is hardware is least likely the one compromised. The most exploited are the users.

The common reason for these misfortunes is that they don't know the safety protocols and if they do, they do not put them into practice.

Since I work in the digital security industry and we're in the crypto wallet business, we'd like to share with you some ways how you can improve your security while investing in cryptocurrencies. 

1. Change your passwords frequently.

You can either make your own password or randomly generate a strong one using a password manager like LastPass. These apps can randomly generate strong passwords and store them. You can also use them late to automate logins online for ease of use. 

2. Use a complex password. 

While using password managers, make sure you use different passwords in your accounts, so even one account was compromised, it will not domino to the rest of your accounts.

3. 2-Factor Authentication

A lot of people know this but not everyone practices it. You can do it in 3 different ways...

    a. Phone notification (SMS or via app)
    b. Email
    c. Security device or key

The first 2 are self-explanatory, so let's just talk about No.3!
Of course, you'd have to buy the key separately, but with that connected to your account, you can log in even when you've lost access to your phone and email. 

4. Keep your email secure

Say one day your socials get hacked, that's because they were able to hack your email. You can use the first 3 steps to make sure your email account is protected. 

5. Beware of phishing

Phishing is the most common way of hacking into an account.

    a. Double check the email source. If the email seems to have a different format or something is off, go check the sender and be          mindful of the correct spelling. You can also compare it with the last emails if they're using the same exact address.

    b. Compare it to your past emails if you're receiving from the same email address and check for inconsistencies. 

    c. If you're doubtful, you can always call customer service.

    d. Never give your One-Time Passwords to anyone.

    e. Think twice before entering your private information anywhere.

6. Lastly, get yourself your own cold wallet.

You've probably read before 'not your keys, not your crypto.' If you don't have the seed phrase or wallet, that means your tokens are in someone else's custody. You're basically entrusting your fortune to someone else, but what if they get hacked? Most of the time these service providers have a hot wallet which means they can be hacked online. Even your PC can be hacked, but hackers won't be able to reach your tokens if they're in an offline/cold wallet. The only way to get your tokens is if they have physical access to it.

Have you already implemented these in your accounts? If not, it's high time to notch up your personal security game.  

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