Ever since cryptocurrency became popular, storing it safely on crypto wallets has become a challenge to many holders.
There are many ways in which crypto investors, traders, and holders store their cryptocurrency on different types of wallets.
An individual or company holding crypto selects wallets as per their requirements. If a user is a crypto trader, he/she uses crypto exchange wallets for storing crypto, as the user requires it every time for trading purposes.
A user or a company holding crypto for the long term stores it on cold wallets, which are not always connected to the internet and are offline methods to store cryptocurrency.
To access crypto wallets, a user or a company needs to own private keys, this private key is your digital identity without which you cannot gain any cryptocurrency.
If you lose your private keys all your crypto assets from your wallet are at risk and there is no way to get back all your assets. So always check the security features of the wallets you use before you store your crypto assets.
Today, as the crypto market is growing at a very high pace, cybercriminals are now using sophisticated techniques to compromise digital wallets and steal/transfer crypto assets without the user’s knowledge.
You can only protect your digital currency from cyberattacks by securing your wallet.
Let’s check some ways to secure your cryptocurrency.
Use a highly secured crypto wallet
To store your cryptocurrency from cybercriminals, always store your crypto assets on applications that have a full-proof security system.
The Klever Wallet comes with multi-pronged security features making it impossible for hackers to get access to your wallet.
Klever Wallet is the best wallet for crypto users, allowing them to store a variety of crypto projects such as Tron (TRX), Ethereum (ETH), Binance Smart Chain (BSC), and more.
Use Cold Wallet
If a user wants to own crypto for the long term, he/she needs to opt for a cold wallet or hardware wallet that is not prone to cyber attacks, as they are offline and only connected when a user wants to transfer funds from a cold wallet to crypto trading accounts.
Klever is also has a hardware wallet called Klever Safe, where users can store, manage, and trade their cold storage digital currencies via secure Bluetooth or USB connections within Klever Wallet. The wallet is also compatible with Bitcoin, Ethereum, Tron, Kusama & Polkadot blockchains.
Use safe internet
Never use public internet connections or public Wi-Fi internet connections like railway stations, airports, government offices, bus stations, and others for making any crypto transactions, as these networks are the easy targets of cyberattacks.
Always use a home network or a VPN for additional security features, as it changes users’ IP address and location and keeps your activity safe on the public internet.
Regularly change your password
Even if you are using a cold wallet or hot wallet, always change your password in regular intervals, the changing of password on a cold wallet can be less in comparison to a hot wallet that is always connected to the internet.
According to various researches, it was found that many users keep the same password for many platforms, this can cause a security breach, and users can lose their crypto assets. In many cases, users have even used the same password in over 50 locations.
Always use passwords that are very difficult to crack or guess. Use separate passwords if you have multiple wallets. Go for multi-factor authentication (MFA) or two-factor authentication (2FA) for additional security.
Beware of double schemes
There are scammers that target users who want to double their crypto-assets instantly. There are various schemes where they will ask you to send some amount of crypto and get double in return. Never do it.
They run a campaign in the name of big crypto exchanges, crypto influencers, or launching of new products and ask users to send crypto to get it doubled.
Sometimes, they even ask for your wallet ID and private keys to deposit crypto. Never do it. If you do any such activity, you will lose all your crypto assets.
If you follow the above steps, you can secure your assets without any issues. You can even save other crypto users from getting hacked, as you are now more aware of your security and let others also know about these steps to stay safe in this challenging crypto world.
It is a Klever idea to follow these steps for having a secured crypto wallet.