The previous year has been full of crypto hacks, with Ronin Network, Wormhole Bridge, Nomad Bridge, Beanstalks Farms, and Wintermute holding stealing the limelight. As crypto trading becomes increasingly mainstream, hacks have surged alarmingly. Hackers have become even more creative and persistent in trying to empty user funds.
This is where auditing crypto assets have come into the scene. Don’t be scared–together with proper audits and many other ways, you can easily improve the security of your digital assets.
In this post, we will deal with some of the ways by which you can secure your crypto. So, let’s get started.
Ways By Which You Can Secure Your Crypto Assets
Are you anxious about securing your cryptocurrencies from the ongoing streak of hacks?
These are some of the best ways of protecting your digital assets in no time.
Use a Password Manager
- It is always advised to have a password of at least 16 characters long.
- It must be extremely complex and something unique for each of your accounts.
- You can use several password managers, such as Dashlane and 1Password to create and remember your passwords.
- Users can also check whether they are using a password that has been exposed in a third-party hack somewhere or not.
Always opt for 2-factor authentication (2FA)
- In addition, to maintaining a strong password, it is also important that you use two-factor authentication (2FA).
- Choose the strongest type of two-factor that any platform allows, such as a Yubikey or similar hardware security key.
- If a service provider doesn’t allow Yubikey, you can use an authentication app such as Duo Security, Google Authenticator, etc., instead of SMS-based 2FA if possible.
- Even if you use an SMS-based 2FA, a one-time 2FA code must be sent to your device each time you log in. This way, even if anyone steals your password, they won’t be able to access your account.
Beware of Tricks
- Beware of hackers who imitate someone from tech support to get your account credentials. No organization would ask for personal information like this.
- Hackers often ask you to create test accounts on a different platform or ask for your ID or banking information via mail or social media. Therefore, you must be vigilant about these hacker tricks and avoid them.
Double-check the URL
- It is common to see fraudsters and scammers create fake sites resembling real exchanges. The main purpose of these sites is to steal users’ account information.
- Double-check the web address before entering any of your account credentials.
- You can also copy the link and paste it into a text editor before pasting it into the web browser so that you know where it will redirect you.
Ensure to back up your seeds properly
- If you don’t back up your seed phrases properly, you will lose access to your digital assets when your device crashes.
- Try writing down your seed words on physical paper and store them somewhere they cannot be destroyed.
- Ensure you don’t lose it, or it doesn’t get into the wrong hands.
- If your device crashes, recover your account using the seed words.
Use a hardware wallet, if possible.
- One of the best ways to protect your crypto assets is to go for a hardware wallet, a USB device that can store your key vault.
- Your crypto assets are safe in these wallets because they do not have an Internet connection, which makes it extremely difficult for malicious actors to infect them with malware.
- Hackers must enter the PIN codes to access them, even if they are physically stolen.
Avoid public Wi-Fi
- When doing crypto transactions, you must avoid open public Wi-Fi. It is because when you do so, others can easily intercept your internet traffic with the help of Wireshark or other tools. Hence, they can easily understand that you’re visiting crypto sites or seeing your transactions.
Conclusion
As more and more people become part of the crypto community, the crypto market will continue to achieve new highs. Since its inception, this area has always been under the prying eyes of hackers. Therefore, it becomes mandatory to be well-versed in some ways to help you secure your crypto and apply them to your day-to-day crypto transactions.
In this post, we have discussed many ways to help you keep your digital assets safe. No doubt, there will be new crypto hacks coming up, giving rise to newer methods. Until then, use these to secure your crypto from hacks worldwide!
The world of crypto is massive–and so is your imagination! Just dwell in, research, and see what harm these hacks have done to the users. Probably, you will be able to think of solutions to these problems.
