How to secure cryptocurrencies?

If you are familiar with the cryptocurrency exchange, you may have already faced the answer to the question of how to secure cryptocurrencies. Unfortunately, the lack of knowledge of procedures and disregard for effective protection exposes users to theft of Bitcoins and other cryptocurrencies. In this article, we suggest how to protect it.

Where to store cryptocurrencies?

There are two options for accessing cryptocurrencies – online and offline. In the case of online access, i.e. access over the Internet, the security level is lower than in the case of an offline solution. If online access is not available, theft is prevented. Remember that you are fully responsible for storing your cryptocurrencies. If you’re wondering where to keep Bitcoin, the answer is simple: in those wallets, which take many forms. Explore the different options and decide what will be the most convenient for you.

Does it worth keeping Bitcoins on hardware wallets?

How to secure cryptocurrencies without the Internet? The solution can be – hardware wallets, which are safe for cryptocurrencies even in the event of a hacking attack on the computer. Hardware wallets connect to your computer via USB. This is one of the best options, because of the security level.

Computer software and paper wallets

Another option is – using the computer software. If you choose this solution, you just need to install the applications – it can be done on your computer, but it can also be other portable devices. Typically, software wallets come in three types: web, desktop, and mobile wallets. Their advantage is that they are free, but some offers have the disadvantage of being connected to the Internet.

Remember about two-step verification

How else to secure cryptocurrencies? Remember about two-factor authentication (2FA), which you can turn on in your account settings. You will receive a text message with a password at any time when you want to log into your wallet. In this way, you prevent access by a hacker who would also need physical access to the device and SMS notifications to get to your account.

Watch out for scammers

The issues of how to secure cryptocurrencies with programs and their functions are one thing. Common sense and avoiding scammers are equally important. Don’t fall for slogans like “send us Bitcoin and it will come back to you at a profit.” There is a lot of it in social media and, as you might guess, these are not very friendly offers.

Make smaller transactions

Be careful, do not send large amounts of cryptocurrencies in a single transaction. If necessary, divide the amount into parts. Also use the cryptocurrency exchange, which is safe and has an extensive offer. An exemplary CoinCasso.com platform is a safe and legal cryptocurrency exchange – it includes not only Bitcoin, but also Ethereum, Tether, Chainlink, Swipe, Serum and Unibright. It is also an EU licensed exchange that gives an extra credibility.

 

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