Millions of people have invested in cryptocurrency in recent years, and as more people invest, more cyber-attacks happen. Throughout the industry, there is an ever-increasing demand for security and protection from these types of hacks focusing on computer viruses.
For this reason, there are now many ways to keep your crypto trading platform wallet safe, whether for self-sufficiency or to share with friends and family without putting them at risk. The following advice will consider the steps you can take to protect your investment – but it’s not all about being online 24/7! You also need to think about your trading habits and personal information.
Beyond the Basics
Even if you only trade occasionally, you should have a good grasp of the basics:
- It is always a good idea to change your password regularly and look out for security updates from your crypto trading platform. As much as possible, it is also advisable to avoid using mobile apps too much, as these accounts are generally easier to hack.
- Hackers can target mobile apps on any operating system like iOS or Android; in fact, one of the most common ways for hackers to gain access is by using malware that allows them to control another person’s device by writing an SMS message or sending an email. While you may think your app is secure, cyber thieves can get around their security features.
- Therefore, it is recommended that you only use your phone for trading. If you need to access your account on the go, then make sure you use a separate device from any other mobile device in your home. This way, if there are any suspicious messages or calls that might compromise the security of your crypto trading platform account, no one else will be at risk of receiving them on their phone.
- Another way to protect your account is by enabling 2FA (Two-Factor Authentication). This is a free service available from INX cryptocurrency trading platform that will help you prevent intruders from hacking your account.
One of the most frequently used methods is to send a text message with a security code to your phone or email address whenever someone tries to log into your account. Because this code changes regularly, it helps you ensure that any suspicious activity is associated with the right person.
Shedding Light on Your Personal Information
All hackers want when they break into an online system is personal information. Essential personal information could be your address, phone number, or even a scan of your passport. This would make it much easier for the hacker to use this information to access your bank accounts, and that’s why it is crucial to keep all of this information hidden away from the public eye.
- One way to avoid this is not to use email addresses traced back to you. This can also mean setting up an account on a crypto trading platform without linking any social media account or anything else that can give hackers access to your password details or account number. Again, this does not mean that everyone should stop using social media altogether. However, it is essential to make sure that you keep everything secure.
- It is also recommended that you do not give out too much personal information when signing up for a new account. When choosing a Mailchimp list, it is always better to choose the one that you can use to receive the most emails rather than something random. Hackers can track down your full address and other information if someone else has made a mistake during the signup process. If possible, try entering your details by phone or online so that people can’t see your complete address.
- Protecting your crypto trading platform account on paper is also a good idea. Many of the best current-generation cryptos have USB devices for storage and virus protection. If you want to protect your coins from hackers in the future, taking extra steps now can stop you from losing all of your money.
- It is recommended to keep a record of everything that has been sent or received on the Blockchain, including addresses and any other personally identifying information such as email addresses.
This is not to say that everything should be written down! Just having a note with all of these details will help you recover as much of your money as possible if there is a hack or cyber attack.
Organize your Trading and Do Not Get Distracted
A good rule of thumb is to have current backups if something goes wrong. This means that if your phone gets hacked or there is a scam ICO, you will be able to get back to trading as quickly as possible. It may seem like a hassle to backup everything, but it can save you a lot of time lost for redos.
When setting up your crypto trading platform account, make sure you know the security requirements new accounts require. This information should be easy to find on the website, and you must follow the instructions carefully to avoid any issues down the line.
Finally, it is also recommended that you create only one or two accounts on any crypto trading platform. Trying to create numerous accounts for different cryptocurrencies will put unnecessary strain on your computer’s hardware, leading to issues down the line. Having multiple accounts can also make it harder to keep track of everything and cause unnecessary complications. Only trade using one account from now on!
By adhering to these essential tips, you should be able to keep your crypto trading platform wallet safe. It is necessary to know the risks of investing in cryptocurrency, and the best way to achieve this is by researching regularly. If you are unsure about something or feel too many risks are involved, then it could be time to consider selling and moving on to something else.
Summary
Bitcoin, Ethereum, and other cryptocurrencies are the future of money; the choice is yours. You need to choose the best medium for your investment, but one thing is for sure – you can’t lose by staking your cryptocurrency in a secure wallet. We intended this article to be a friendly reminder of the importance of keeping your crypto trading platform accounts safe. You can use our tips to keep your currency safe and well-protected. If you feel that we missed anything, let us know in the comments below!
