Cryptocurrency is one of the best opportunities people have ever had on investing, but with every opportunity, there is always a danger, in this case the danger of hacking. With increase in the adoption of the digital assets, there is also increased cases of hacking and more complex hacking attempts. For any holder, or intending to hold, any form of crypto asset, it is important to familiarize with better security measures towards such investments. Below is a guide that will help you protect your crypto from hacks in 2024:
1. Use a Secure Wallet
Selecting the appropriate wallet is the initial process in protecting your currencies is one of the initial things that must be done.
1. 1 Types of Wallets
There are various types of wallets available, each offering different levels of security:There are various types of wallets available, each offering different levels of security:
Hardware Wallets:
These are physical devices that encrypt users’ private keys and usually they are stored somewhere secure and not connected to the internet. It makes them to be regarded as one of the most secure strategies.
Software Wallets:
This are programs which are downloaded and installed in your computer or any other smart mobile device. However, they are relatively more insecure to hacking in case the device you are using is infected.
Paper Wallets:
An actual paper that holds your private keys. Safe from online threats as they can be, they may be lost or damaged.
1. 2 Best Practices for Wallets
In particular, despite the importance of software for the ease of having an assortment of great cryptocurrencies and tokens, one should use always only hardware wallets for great amounts.
Update frequently the software wallets to know that they are using the latest released security features.
To avoid loss due to physical damage or theft, make sure that you have backed up your wallet.
2. Enable Two-Factor Authentication (2FA)
Two factor authentication provides you the extra layer of protection to your online accounts. All your accounts will have a backup of a password, even if the hacker or the bully knows it they need a secondary number to get in.
2. 1 selecting the appropriate 2FA Type
Authenticator Apps: Google Authenticator or Authy is secure than the 2FA which relies on the use of text messaging since it is susceptible to SIM swapping scams.
Hardware 2FA: Additional security can be provided by physical keys, for instance, in case of using YubiKey device.
2. 2 Where to Enable 2FA
Exchange accounts: Check to make certain that each of the cryptocurrency exchange accounts has two-factor authentication turned on.
Wallet access:
Enable 2FA on any of the wallet applications that you would wish to use since the application supports two factor authentication.
Email accounts:
As I mentioned before, your email is usually a recovery method, so it’s imperative to protect it with 2FA
3. Cybercriminals often like to use phishing schemes to obtain users’ information, therefore be careful.
Phishing attacks exploit emotions that lure people into parting with their login credentials with what looks like genuine services.
3. 1 Identifying Phishing Attempts
Suspicious URLs:
One should always be keen to check whether the URL is correct before entering any of their personal details. There are many fake sites; the scammers tend to name their sites same as the real ones but with slight differences.
Unexpected Emails or Messages:
If you get any message that you are required to log in due to inactivity, don’t believe it until you notice that the message is coming from the accountable sender.
3. 2 Protecting Against Phishing
Don’t open any links that are contained in the spam messages.
Save links to the sites you visit most often so as to avoid getting the URLs wrong.Use a password manager:
It will only complete your credentials on genuine sites you have visited thus protecting you from fake sites.
4. Keep Your Software Updated
It is thus important to constantly update your software because even with the new update, there might be new within new vulnerabilities that might have been discovered.
4. 1 What to Update
Wallet software:
Make sure that you are always on the latest version of your wallet software.
Operating system: The upgrade of one’s OS can help fix certain many vulnerabilities that may exist in the system.
Security software:
Ensure your antivirus and anti-malware software is updated to cater for new threats that may be prevalent.
5. Avoid Public Wi-Fi
Connecting to Public Wi-Fi networks is very dangerous since such networks are very vulnerable to hackers who might easily eavesdrop on you.
5. 1 If You Must Use Public Wi-Fi
Use a VPN:
A way of securing your traffic by creating a secure channel that is very difficult for hackers to monitor is called VPN.
Avoid accessing sensitive accounts:
Very often, people log into their crypto accounts using public Wi-Fi; if possible, do not do that.
7. Educate Yourself
The best way to defend against hacking is knowing how it is done. If you are to read up on what is latest in the security threats and methods, you will be in a better position to safeguard your interests.
7. 1 Where to Get Information
Regularly visit the various well-established and credible blockchain and cryptocurrency media outlets to get informed on new threats.
Engage in social media groups so as to get more insight from other users of the crypto.
Conclusion
Protection of your cryptocurrency is a continual activity that should be carried out with a lot of caution and following set guidelines. Thus, having a secure wallet, allowing two-factor authentication and being aware of all emerging threats with hackers, people can minimize the risks of being hacked..
