Protect your crypto wallet from hackers with these essential security measures. Learn how to safeguard your digital assets and prevent hackers from intruding on your Crypto Wallet. Once the hacker has accessed your crypto wallet and taken your coins, little can be done to get them back. This makes buying Bitcoin one of the most common cybercrimes in the world today and something that users need to be aware of if they’re not already. This guide on preventing hackers from intruding on your crypto wallet discusses ways to keep your tokens safe and secure and recover hacked coins after they’ve been stolen.
How Often Do Crypto Wallets Get Hacked?
In 2017, hackers stole $1.2 billion in cryptocurrencies, which is just rising. While there are some high-profile thefts, such as Mark Zuckerberg’s experience; most hacks are far more mundane and can happen without much detection. Suppose a hacker has access to a phone for just one minute. In that case, they have enough time to find out if you’re using a cryptocurrency and then change your password to get their hands on any funds you have stored there. Be vigilant of these attacks and protect yourself by keeping antivirus software updated. Every measure helps when it comes down to being proactive about protecting yourself!
Use 2FA (Two-Factor Authentication)
We live in a digital world where our data is constantly under threat. The most obvious way to keep unwanted eyes out of our accounts is two-factor authentication or 2FA. It requires us to enter a unique code alongside our usual password every time we want to access it, and one that only we should know. These are available through various apps and programs and via text message, so you can access them wherever you are and even offline (on mobile devices).
For Example, Google Authenticator allows you to scan QR codes instead of typing in six-digit codes. If your phone has NFC capabilities; it can also be used with an app like Authy to provide added security by requiring a tap on your device before allowing access. Even better, these authenticators aren’t limited to just one platform: You can use them across all your devices; which makes logging into multiple platforms much more accessible than memorizing separate passwords.
Don’t Use The Same Password Everywhere.
Using one master password for all your accounts might be tempting, but doing so makes it way too easy for someone with a keystroke logger or other form of malware to access all of them. Instead, make sure you have unique passwords for each account. Use at least ten characters in each password, says Google security expert Justin Schuh. Because they’re harder to crack, and they’ll also help with cross-site scripting and SQL injection attacks. You should also enable two-factor authentication, which requires verifying any login attempt using a separate device.
For example, Gmail will text you a code when someone tries logging into an account with two-factor enabled. These apps generate strong passwords for every site you visit and store them securely behind one master password. They can even generate master passwords if you’d prefer not to deal with remembering anything yourself. The only downside is that if you lose access to your phone (or get hacked); everything stored in these apps is vulnerable. However, it’s still better than having no protection at all. Another tip: Don’t just add random numbers onto existing words easily guessable by anyone who knows what kind of word list they’re looking through.
In 2017, the crypto market cap grew from $17.7 billion to $613 billion; registering a staggering growth of more than 3,300%. The crypto market cap has crossed the $800 billion mark and is still growing at a fast pace. It would be best to use Bitcoin trading software to buy and sell your cryptocurrencies without worrying about a data breach and transferring it to crypto wallets. You keep Your Wallet Safe and Secure with Multi-Sig and Cold Storage Wallets.
Consider mixing these security techniques; for example, you could use a multi-sig cold storage wallet with an encrypted hard drive stored in a safety deposit box. That said, ensuring you have a dependable security strategy will go a long way toward keeping your digital currency safe both now and in the future. The cryptocurrency world is still young but will become more vulnerable to cyberattacks as it matures.