Cryptocurrencies and blockchain technology offer a secure way to conduct financial transactions. However, cybercrime is rampant in the digital world. Here are some non-trivial security tips to help protect your digital assets and not fall victim to money scams.
1. Use Password Generators
Passwords that consist of numbers or a single word are easily guessed. Using your date of birth or name and surname combination as a password simply invites scammers to your account. Better use a password generator and use strong passwords of a random set of symbols. The more complex the password combination is, the more secure it is. Oh, and keep your credentials safe (don’t write them down on paper, come on).
2. Use Google Authenticator for 2FA
Or any other authentication app. First — because it’s easier than SMS/calls to your phone number and doesn’t require a good network connection. Second — this method is considered more secure since there are SIM swaps and other phone number-based hacks.
Just note, when using Google-based 2FA, you need to save your backup code. It will help you restore access to your account if you accidentally delete the Google app from your device or got a new smartphone. In case you have a phone-based 2FA method and have changed your phone number, recovering access to your account will take more time and effort.
3. Regularly monitor your trading and withdrawal history
You can track your transactions manually or with some dedicated monitoring tool or at least keep an eye on your inbox. At CEX.IO, you’ll receive an email upon performing transactions in your account. Any transaction that is not requested by you is a signal of unauthorized activity on your account.
4. Prefer cold crypto wallets
Offline devices like USB wallets keep your crypto away from online hackers. It’s also a good idea to have several wallets so as not to keep all your eggs in a single basket.
When choosing a crypto service, make sure they use cold wallets. CEX.IO uses cold storage for users’ funds, so you can be sure we keep your funds safe.
5. Delete all remote-access software
Did you know that many remote-access services have numerous security holes? It doesn’t take much Googling to find such stories. Even if you have 2FA enabled on your accounts, remote-access software can give attackers access to your computer with just a string of symbols. So better play it safe and don’t keep any applications that can give a remote access to your computer at the same devices where you use your crypto wallets and exchange accounts.
6. Triple-check when sending crypto
Crypto wallet addresses are a long mix of digits and letters, so never type them manually, only copy and paste. And check at least the first and the last few symbols to make sure they are correct. Some malware can replace the copied addresses with the one that belongs to the hackers. Be smarter than them — carefully check wallet addresses.
7. Keep your mouth shut.
Avoid talking about the details of your trades, investments, or crypto portfolio anywhere, especially online. Social media are full of scammers hunting for potential victims with their pockets full of money (that’s exactly how scammers see users). If you raise any questions about your trading or show your interest in crypto, the scammers will attack you with their “sweet” offers to help or double your profits. You don’t want to be their victim, do you?
8. Avoid public WiFi-s.
Their hosts can set up their own rules that you will never be aware of (they may redirect your browser to phishing sites, collect your passwords, so on). If there is a dire need to access your crypto funds from public WiFi, at least use a VPN.
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