Due to its lucrativeness, the crypto community is very susceptible to cyber-attacks, and once your wallet is not so safe, it becomes hard for you to monitor your investments.
More than having crypto assets, it is essential that you also know how to keep them safe. Locating crypto in a safe wallet is as important as having hundreds of cryptos.
The good news is that you can take steps to secure your crypto wallet against hacks by using an anonymous bitcoin wallet.
Hence, priority should be given to keeping your assets safe, the same way you give priority to investments.
Investing without safety precautions and recovery services would become disastrous in the long run. Several crypto services are affiliated to the recovery of blockchain wallets even after the hacking attack.
Nonetheless, you need to understand that these services must be in place the moment you choose your most preferred blockchain wallet.
You shouldn’t leave the security to the crypto wallet, some of these wallets are hackable, and once hacked, it could mean the loss of your assets.
In other words, to prevent this from happening, here are some of the top nine ways to secure your crypto wallet.
Do not share your seed phrases
One of the most effective means of staying safer than being sorry is by keeping your seed phrase away from where it could be copied or stolen.
It’s, however, not a great idea to have your seed phrases written down in black and white if you know you won’t have exclusive privacy to the safe.
Your seed phrases could be 12 to 24 words long, depending on your chosen wallet.
Nonetheless, it is essential to note that your seed phrases shouldn’t be shared with anybody. Nobody should have access to them, except you.
Have a crypto wallet recovery services ready
It is advisable that you also have recovery services that understand how to recover blockchain wallets when you conclude on your preferred crypto wallet.
Having this as a second or third layer of defense for your asset is about one of the best decisions you can ever make for your assets.
As mentioned earlier, your crypto assets should be prioritized and one of the ways of prioritizing them is by having recovery services ready.
Activate the 2FA
The 2FA also known as the “Two-Factor Authentication” is a form of security that is placed on login and transaction confirmations to be sure you are the one accessing the account at the time.
Most crypto wallets have the 2FA, but not everyone would be so willing to activate it on their crypto wallet.
However, it is essential to note that there’s a reason it has been added to the crypto wallet, and that is to serve as an extra layer of protection for your assets.
Store your assets in a cold wallet
You must understand the difference between a cold wallet and a hot wallet. Storing your assets in a cold or hardware wallet is essential if you want to keep them away from hacks.
Cold wallets are usually in the form of USB drives where you could have your login details stored.
Trade on a reputable exchange
Most hacks take place on exchange platforms, so, you must note where you trade your holdings and how you manage them.
The level of security differs from platform to platform, so you should place more focus on the platforms you use if you need to keep your assets safe.
Use a password manager
Another means of staying safe from hacks is by changing your password regularly and using a password manager to help you keep records of your password.
Since your password could change at any moment, it would be somewhat difficult for your account to be pinned on one password.
Watch out for phishing links
If you own a crypto wallet on your mobile device, you should take note of this. Phishing links could be sent on any social media platform to access your wallet.
Once you click on the link, you stand the risk of losing your assets, especially when you don’t have services that could help recover blockchain wallets at your disposal
Always install the latest updates
Your device needs to be updated at all times. So, irrespective of what device you use to hodl your assets, you should always have it automatically updated.
This will help you minimize the risk of updating the wrong software updates.
Avoid public Wi-Fi
If you are using public Wi-Fi, ensure you have a VPN to help mask your location and IP address.
Accessing your crypto wallet from public Wi-Fi opens your phone to cyber-attacks, which could cost you your assets.