People are getting hyped on cryptocurrency and understand the fundamentals of the market, but most people forget to think about the security of their wallet (especially newbies). Both crypto oldies and newbies need to know the threats lying behind keeping cryptocurrency and how to secure themselves from cyber crime.
There are many guides online on security in crypto market, we decided to outline the 5 most effective ones to you.
Virtual Private Network
A VPN by encrypting your traffic will make you secure and anonymous online. Your confidential information like bank details and passwords. A VPN will also change your IP address to any country’s IP address and let you trade all around the world and your transaction speed will be higher.
For the best experience you need a VPN that doesn’t collect logs and has many fast servers worldwide.
Best VPNs for securing cryptocurrency:
- Surfshark VPN – this VPN accepts cryptocurrencies, doesn’t collect logs and it is known to have fast servers all around the globe. Surfshark also has customer support working 24/7, supports an unlimited number of devices and has a built-in adblocker.
- NordVPN – this is one of the most popular VPNs out there, that is known for high security, fast servers and friendly customer support.
- ExpressVPN – also one of the most popular VPNs out there, that has many servers worldwide and doesn’t collect logs. ExpressVPN is a bit expensive, but it is a high quality VPN.
For securing your cryptocurrency, you need to protect yourself from thieves, malware and all threats that hide on the internet. For that you will need a constantly updated antivirus. There are many good options out there like Kaspersky.
In cryptocurrency market backup is a must. Best way to do backup is to follow 3-2-1 strategy. This means having a minimum of 3 copies of your data (two copies are kept on different storage and one is kept off site). For example, imagine you have a video file that is kept on your computer (1st copy), you also have an external hard drive and in case the video stored on your computer go missing, the hard drive backs it up (2nd copy). The Third copy is an online backup solution, which constantly scans your computer and saves your files.
Two-factor Authentication is a key what deals with security online. It will secure your withdrawals which is crucial in cryptocurrency market. Don’t skip this step if you do you could easily lose your passwords and money to hackers. For this you will need such softwares as Google Authenticator on your mobile.
Strong passwords are a must if you want to secure your accounts. To build strong passwords you can use strong password generation tools online and since it is hard to remember these strong passwords you need to use password managers like Keeper.