You worked hard to make some crypto-cash, and you don’t want to leave anything to chance. Keeping your cryptocurrency on cold storage is the first step towards protecting your long-term investment. And, yeah, using one of the best cryptocurrency wallets is definitely the best way to ensure the safety of your money.
However, if you don’t protect your computer, you are risking to get your cash stolen or corrupt the moment you connect your cold storage device to a computer. To help you minimize this risk, we compiled a list of the best ways to protect your crypto-wallet.
Never Save Your Private Key On A Computer
Your private key is used to open your cryptocurrency secure vault. Should it end in someone else’s hands, you stand to lose all of your crypto-money. Fortunately, there is one simple trick that can help you protect your private key from online intruders.
Write down the key on a piece of paper and put it in a safe spot in your home. Don’t put it in your wallet or carry it with you at all times since you can lose it. Make sure to check it once in a while to see if it is still readable.
Choose Hardware Wallets With Encryption and Additional Security
As we mentioned earlier, the best way to secure your crypto-earnings is to put them on cold storage. Cold storage is a hardware wallet, a small USB-like device that you can use to transfer all your cryptocurrency. You should also pay attention to which hardware wallet you are using.
There are a dozen hardware wallet solutions on the market. To be on the safe side of doing things, always go with a wallet delivered by a reputable and trustworthy company. Also, consider using hardware wallets with encryption and additional security to protect your riches from cybercriminals. Additionally, if you run a business that accepts cryptocurrency or uses it in its services, you can incorporate an additional level of encryption and security with an identity verification service.
Invest In Good Antivirus Software
Many people think that using a free antivirus solution is enough to get a decent amount of protection against online threats. There is a difference between free and paid antivirus tools, and the difference is enormous. Paid antivirus tools have additional security layers such as malware and phishing protection, support for ad filtering and protection, better monitoring and cleanup algorithms, and customer support.
Paid antivirus solutions are not that expensive at all, and for a fraction of the money, you will get a great deal of many security layers. Considering the time, effort, and money you’ve put in making it in the crypto world, it is smart to invest a bit of what you’ve earned in top-notch security.
VPN Is A Viable Option
VPN is a popularly used acronym for Virtual Private Network. A VPN service is one of the best hassle-free online security solutions out there, as it will protect you in a multitude of ways.
First of all, a VPN will encrypt all your online traffic, making your data packs unusable even if the hacker managed to break into your system.
Using a VPN is strongly recommended if you are making transactions on a public Wi-Fi. We are aware that you know of the threats lurking on public networks. But, sometimes, a great opportunity may emerge on the market, and you will have access to the public internet only. With a VPN, you can use it with peace.
On top of that, you will remain hidden and anonymous as a VPN hides your actual IP address and assigns you a new one. Thanks to a VPN, you will also be able to bypass geo-block restrictions and access the content you enjoy.
Don’t Be Afraid to Use a Second Wallet!
If you are actively trading cryptocurrencies, you are exposed to a certain amount of threat. Even if you implement all security measures, it won’t render you 100% safe. This is just something you will have to accept. There is a way to deal with it, though.
For instance, you are allowed to have as many wallets as you want. There is no limit whatsoever. Create a new wallet and use it exclusively for your daily activities on the market of cryptocurrencies. If you keep your main stash on a separate wallet and use a new one for small transactions, you will considerably improve the safety across the board.
When you have several layers of protection guarding your hard-earned cryptocurrency against cybercriminals, you can sleep better. Whether you decide to pull out from the crypto-game and wait for better days or keep on looking for crypto-investment opportunities, these security tips will keep you and your wallet safe and sound.