Learn how to keep your cryptocurrency wallet safe. Get useful tips and strategies to protect your funds and cryptoassets.
In the cryptocurrency sphere, wallets are the easiest target for hackers. In 2023, they were the most frequently subjected to cyberattacks. So, it is critically important to take all measures to ensure the security of your wallets. In the text, we will tell you about the six main ways to protect crypto assets, and also name the safest crypto wallet.
Main methods of protection
It is not difficult to save your cryptocurrency, it is important to follow basic recommendations for digital security, as well as a few tips on how to properly work with crypto assets, here they are.
Reliable and complex passwords
Have you come up with a complex enough password for your hot crypto wallet? Most likely, no, even if you think so. Users tend to overestimate the complexity of passwords. Be sure to check the combination you have come up with through special services. They will show whether your password is really complex.
Use only trusted and secure Wi-Fi
Whether you prefer anonymous crypto wallets or those that require verification, public Wi-Fi networks can cause you to lose your crypto assets.
If you connect to an unsafe network, your login details may be compromised, and attackers will get them, and then easily steal your money. Do not perform any manipulations with cryptocurrencies via public Wi-Fi.
Two-factor authentication
Make it a rule to always use the second level of protection for your crypto wallet. Confirmation with a one-time password from a special application or from
SMS makes it much more difficult for hackers to work. The best anonymous crypto wallets already have 2FA built-in, so you don’t have to worry about it yourself.
Regular wallet backup
Backups are a great way to save your crypto assets. Whatever happens to the wallet, the user will be able to access its latest backup copy. Of course, it is important to make backups regularly, otherwise there is little point in the procedure. Ideally, the data copying should be done automatically by the service or software itself. Such a function is implemented, for example, in the BitHide cryptocurrency gateway.
Diversification with multiple wallets
Not keeping all your eggs in one basket is still a great piece of advice. Get an anonymous Bitcoin wallet, as well as a couple more for other assets, come up with strong passwords for all of them, set up 2FA and backups. And now you have minimized the risks for different parts of your crypto assets. Even if you lose funds from one wallet, you will still have several others.
In BitHide, you can separate cryptocurrency by risk levels and store it at different addresses. This will protect low- and medium-risk assets from blocking, which may occur if they are stored mixed with high-risk assets at one address.
A scrupulous approach to the reputation of cryptocurrency wallets
We are talking about the safety of your money. So, the reputation of the software provider must be impeccable. Some wallets only say that they have secured their users’ funds, while others have actually done it. The safest crypto wallet BitHide uses Dark Wing technology, which reliably protects the anonymity of all transaction participants and makes it impossible to calculate the user’s real IP address.
The safety of your cryptocurrency depends on your attentiveness and caution. Think twice before performing any action with assets, and choose only reliable software.
