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Cryptocurrency Security: How to Protect Your Funds

Arina

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Cryptocurrency security is a topical issue for many investors. The reason for this is the active interest in digital assets of hundreds of thousands of Internet users, including hackers. If you want to invest your money in BTC or ETH but are ready to soberly assess the threats of cryptocurrencies so that you don't lose your money when buying or storing them, these tips are for you.

How to Buy Cryptocurrencies Safely

If you are not yet a crypto holder and want to know how to buy coins safely, then use only safe cryptocurrency exchanges.

The best exchanges are those that have been online for many years. They should also have at least a few dozen positive and a minimum of negative reviews (read negative reviews more carefully). 

What Dangers You Can Face as a Crypto Holder 

The main danger of any digital token is that once you lose it, you can no longer recover or return it. The security of cryptocurrency isn't provided by the state, which almost 100% guarantees impunity for attackers. Even if hackers have hacked your account and you have all the necessary evidence, it's unlikely that you will be able to do anything about it. That's why we recommend paying so much attention to the security of your cryptocurrency account.

Moreover, remember about the banal absentmindedness. You can lose your access key, forget your password from one of the authentication stages, or lose your physical cryptocurrency wallet, leaving you with nothing.

This is the main danger of cryptocurrency. It's almost impossible to get it back, while it can be stolen or lost with the proper skill level of scammers or low security of the owner easily and in an instant!

A Few Tips for Cryptocurrency Holders

Even the most secure cryptocurrency will be easily misappropriated by hackers if its owner ignores minimal security measures.

Use Hardware Wallets

Using a hardware wallet to store cryptocurrency is one of the most popular and reliable methods. This device looks like an ordinary USB flash drive. With the help of such a drive, the owner of Bitcoin or other cryptocurrency stores all the necessary security keys and the currency itself on a physical device, not online. It's important not to lose or damage the drive when using this method.

Make Backups

When storing cryptocurrencies online, don't forget to make regular backups of your wallet. Any problem, be it theft, loss, or a crash of your computer, will automatically mean the loss of your cryptocurrency. Crypto security won't be the cause of your worries if you backup your wallet files at a frequency of at least once a month.

Check Your Browser Security and Keep an Eye on Your Accounts

The browser is the most popular tool through which hackers operate. You can be planted with an address bar replacement virus, ransomware extensions, loggers, and many other malicious programs. First, try to avoid installing any browser extensions related to cryptocurrency. In the vast majority of cases, it won't be useful, but will significantly increase the probability of theft.

As for accounts, use as different and complex passwords as possible, regardless of the type of account and its location. Any account that is compromised can be a lead that a hacker can pull to get the rest of the information they need. Furthermore, try using two-factor authentication to maximize protection.

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