8 Crypto Security Tips

By June 1, 2021 January 7th, 2022 No Comments

Secure ways to conduct financial transactions are always offered in cryptocurrencies and blockchain technology. But, cybercrime is everywhere in the digital world. Here are 8 crypto security tips you can use to protect your digital assets and avoid falling victim to money scams.

1. Password Generators for crypto security

Passwords that contain numbers or a single word are easily hacked. Your date of birth or name and surname combination as a password can simply be guessed by scammers of your account.

Better use a password generator that produces strong passwords of a random set of symbols. The more complex the password combination is, the more secure it is. Keep these credentials safe and do not write them down on paper.

2. Avoid public WiFi connections for crypto security

The hosts might set up their own rules, which you will never be aware of. They can redirect your browser to phishing sites and collect your passwords, among other things. If you really need to access your crypto funds using a public WiFi, better use a VPN.

3. Use Authentication apps for 2FA

First, it’s easier than SMS/calls to your phone number and a good network connection is not required. Second, this method is considered more secure since there are SIM swaps and other phone number-based hacks.

Just remember when using authentication apps for 2FA, you have to save your backup code. It will help restore access to your account if you accidentally delete the app from your device or got a new smartphone.

In the event that you have a phone-based 2FA method and you have changed your phone number, recovering access to your account will be more challenging.

4. Cold crypto wallets

Offline devices like USB wallets keep your crypto from online hackers. It’s also better to have several wallets, to avoid keeping your eggs all in one basket.

When you choose a crypto service, make sure they use cold wallets. FiFit uses cold storage for users’ funds to ensure we keep your funds safe.

5. Monitor your trading and withdrawal history regularly for crypto security

You can manually track your transactions, use some monitoring tool, or keep an eye on your inbox. At FiFit, you will receive an email if there are transactions performed in your account. Any transaction that you did not request is a sign of unauthorized activity on your account.

6. Triple-check when sending crypto

Crypto wallet addresses are a mix of letters and digits, so never enter them manually, just copy and paste. At least check the first and last symbols to make sure they are right.

There are malwares that can replace the copied addresses with the one that belongs to the hackers. Be smarter than them by carefully checking wallet addresses.

7. Delete all remote-access software

Most remote-access services have various security holes. With just a string of symbols, remote-access software can allow attackers access to your computer even if you have 2FA enabled on your accounts.

Play safe by not keeping any applications that can remotely access your computer if it’s the same device where you use your crypto wallets and exchange accounts.

8. Keep quiet about it

Do not talk about the details of your trades, investments, or crypto portfolio to anyone, especially online. Scammers are all over social media hunting for victims with pocketfuls of money.

If you make any enquiries about your trading or show interest in crypto, scammers will trick you with their sweet offers of helping or doubling your profits.

Be alert and read more security tips and updates about FiFit. If you liked our “8 Crypto Security Tips” and found some valuable information, check this space regularly to get more updates on crypto-backed loans and cryptocurrency.