How To Secure Your Crypto Assets..?

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The crypto world has become a heaven for scammers and fraudsters. Your smart contract can be exploited.. or you can be swindled by fake ICOs, exchanges and wallets.

In the past, it was possible to store Bitcoin and other cryptocurrencies on an exchange. But today, with all of the recent ransomware attacks and $5 wrench hacks, it is no longer recommended. The safest way to protect your crypto assets at this time is by following the given steps below..

Follow these tips to keep your crypto assets safe:

1. Move your crypto assets to a hardware wallet

Virtual currency is the next big thing in the world economy. However, virtual currencies are volatile and face high risk of cyber attacks. Why would you want to hold your crypto assets in exchange when you can use them immediately?

The cryptocurrency market is growing at an exponential rate. With this rapid growth, however, comes a new problem that threatens the integrity of a coin’s value: cyber attacks.

One of the main issues contributing to this issue is how people store their crypto assets. Although it is not always easy or convenient to move coins around using hardware wallets, they are one of the most secure ways to safeguard your investment from theft and loss.

A hardware wallet allows you to securely send and receive cryptocurrencies by storing private keys on a hardware device.

2. Use a mobile wallet that allows you to control your private keys

Nowadays, there are more ways than ever to manage your cryptocurrency. You can choose from hardware wallets like Trezor and Ledger; mobile wallets like Enjin and Coinomi as well.

There are a number of secure wallets available for storing your crypto assets. Mobile wallets offer added security because they can be used anywhere and anytime. They also allow you to control your private keys. In some cases, they may help to avoid having to pay transaction fees if you choose the right wallet provider.

3. Use a desktop wallet that allows you to control your private keys

Desktop wallets are installed on your computer, so they give you more control over your funds. They allow you to back up your private keys and store them in a secure local environment. Desktop wallets connect directly to the blockchain and function as full nodes, allowing you to send and receive cryptocurrency payments instantly.

The blockchain is a massive public ledger that records every single transaction ever made on the network. Every time a transaction is made and recorded, it gets added to “blocks” of data that are validated and added to the chain in a linear, chronological order. Because of this, it’s technically possible to trace back every transaction ever made…and even forensically examine old transactions in great detail using tools like block explorers.

The Ledger Nano S is a cryptocurrency hardware wallet that looks like a flash drive and is the size of one. It allows users to store an unlimited number of both Bitcoin (BTC) and Ethereum (ETH). The device connects to any computer through USB, making it easy to transfer cryptocurrencies from one wallet to another. It also provides a PIN code for extra security.

4. Do not use an online exchange or custodial service

Cryptocurrencies are gaining more and more popularity, but their fluctuating prices make them very difficult to handle for the average person. If you’re not careful, you might lose your entire savings if the market goes south.

Sadly, there have been several high-profile security breaches at online exchanges and custodial services, which is why you should never use an online exchange or custodial service to store your crypto assets. The best way to secure your crypto assets is to store them yourself using a cold wallet.

5. Move your hardware wallet to a secure location, preferably an off-line location.

The popularity of cryptocurrencies is on the rise, and people are starting to take advantage of all the opportunities cryptocurrency has to offer. However, there is an important step that many people seem to be overlooking – moving your cryptocurrency investment from a hot wallet (online) to a cold storage wallet (off-line).

When you’re holding large sums of cryptocurrency, it’s important to take steps to secure your assets. One way you can do this is by moving your hardware wallet to a secure location, preferably an off-line location.

6. Encrypt the hardware wallet with a strong password.

Everyone who is involved in the cryptocurrency market should take precautions to keep their assets safe. Perhaps one of the best ways to do this is by using a hardware wallet. This can be used as an additional layer of security, especially when coupled with a strong password.

All of the above steps means nothing if you have an easy-to-guess password on your investment account.

Strong passwords are a necessity for keeping your crypto assets protected. Cryptocurrency wallets are vulnerable to theft if proper security measures are not taken. To help keep your assets safe, use strong passwords and encrypt the hardware wallet itself.

7. Set up a 2-factor authentication (2FA) to your hardware wallet.

The security of your digital assets is an important part of the blockchain and cryptocurrency world. A 2-factor authentication (2FA) to your hardware wallet will give you a peace of mind when you’re dealing with cryptocurrencies.

Conclusion

With the recent surge of interest in Bitcoin and other cryptocurrencies, we know it would be a good idea to create an article that will help you keep your crypto assets safe which had led to these simple steps you can take to secure your digital assets today!

So.. If you’re looking for a way to securely store your crypto assets, you may want to consider using a hardware wallet. While these wallets are not free, they can help protect your tokens from getting hacked or stolen.

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