Crypto Wallet Safety Tips You Need to Follow

Experts suggest that cryptocurrencies have a great future ahead and that they will change things in many ways. Many investors have suffered a tremendous loss in the past due to a lack of proper security measures.

They have become victims in the hands of many hackers and heists. If you want to know how to keep your crypto wallet safe and invest safely, make sure to follow the tips provided in this article:

Use a Secure Internet Connection

This is one of the most basic things that you need to follow. Always use VPN as it will conceal the location and IP address from which you are using the Internet. Hence, staying anonymous through VPN can keep you safe and secure. Using public Wi-Fi can be tempting, but it is best to avoid using it as it increases the chances of your device getting breached.

Use a 2-Factor Authenticator (2FA)

If you want to stay safe, your best bet is to use the 2FA. You can use the Google Authenticator application for this purpose. By using the 2FA, you prevent easy access to your wallet or account.

If someone wishes to enter your account, they will have to enter a code to do so. So, if you leave your phone lying around or if you happen to lose it somewhere, you don’t have to worry about the safety of your crypto wallet being compromised by people you don’t trust or strangers.

Be Careful of Spear Phishing Campaigns

It is also important to know how to spot a spear-phishing campaign. In these campaigns, hacking groups cleverly pose as organizations and employees to extract important information from investors. Avoid clicking on suspicious links or advertisements as you run the risk of having your information stolen or even cause harm to your smartphone.

Use a Hardware Wallet

This type of wallet is also popularly known as a ‘cold wallet.’ It is the safest option available because it comes with encryption. As these wallets can be easily used without the Internet, there is no opportunity available for hackers. Go for a crypto wallet that is popular and has a good track record.

Many cold wallet options are available, such as Trezor One, ELLIPAL, Keystone Pro, Ledger Nano, and more. Make sure never to forget your specific access code to the wallet that you have chosen to use.

Use Many Hardware Wallets

Make sure to have as many wallets as you can to keep your investments safe. It might not be a good idea to put all eggs in one basket. This doesn’t mean you will have to use all the wallets. You can just stick to one that is easy to use and provides you with all the crypto services you will need.

Crypto Wallet Password and Multi-Signature Feature

A smart move to make would be to keep the password for every hardware wallet a bit different. It is also a good idea to have a backup of your passwords somewhere safe. You can approach your bank and use the safe for this purpose.

Make sure to have a strong password for every wallet that you use. Include block letters, numbers, and symbols, and go for a lengthy password that will be hard to guess. Make sure the password isn’t related to cryptocurrency in any way. Change your passwords on a regular basis.

It is also a great idea to use the multi-signature feature. It is best to avoid the crypto wallets that don’t provide their users with this great feature. With the multi-signature feature, you will have increased safety by way of digital signatures from a certain number of authorized users.

Have the Latest Anti-Virus for Your PC and Device

Most people nowadays make a lot of investments on the phone because of the ease of use and convenience. Hence, you must focus on having strong safety and security measures for your phone along with your PC as well. Make sure to install the latest anti-virus software and firewall, and your chances of becoming vulnerable to threats become significantly lessened.

This is very important if you want to become a more active trader as you will be regularly accessing many important websites and platforms like Trading Terminal For Crypto and more.

Use a Non-Custodial Hot Wallet

You don’t have to avoid the use of hot wallets altogether. In fact, non-custodial hot wallets are a great option as there will not be any third party that will be responsible for your wallet or holds the keys to the same.

All in All

Make sure to implement all these tips properly, and your crypto wallet will be safe and secure. You can use your crypto wallet without any safety concerns looming over your head. Make sure that the crypto wallet you go for is easily accessible and reliable.