SECURING YOUR CRYPTO WALLET AND EXCHANGE FROM HACKERS

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Introduction

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In Recent times, the crypto wallet and exchange has been subject to attacks by cyber hackers who try persistently to gain access into users account information and steal their coins. The use of a good security measures cannot be over emphasized. It is advised to protect ur wallets from this so called hackers.

Protecting your crypto wallet is similar to protecting any information in your computer. You have to be a little more careful while surfing the Internet, clicking on hyperlinks and email attachments.

The threat to your digital wallet is not through the blockchain but through the wallet or exchange provider. Information can be tracked and stored at the provider level, including your personal key, and can then be accessed by hackers in order to access your wallet without your permission.

See also: Cryptocurrency and Wallet

Various means used/employed by hackers to gain access to users account.

They include :

1. Phishing: Phishing is a term in hacking... Its just about cloning a website to obtain vital credentials from gullible people.

Also they employ the use of Email phishing. It is one of the oldest, and most successful, web hacking techniques out there. This occurs when hackers send out mass emails that appear to be an authentic communication from your wallet provider. Here they tell you to input ur login details, after that they gain access to your funds and hack you. Don't fall victim to this cheap scam.

I was sent a link to reset my blockchain wallet password one certain time like that which I was asked to input my email login details. Newbies would fall for a cheap scam like that.

Trust me the site looked like blockchain's website no difference.

Don't click on links anyhow... I repeat, don't click on links and always check the URL in the address bar

2. Password Hacking: This occurs when hackers prey or attack users accounts using weak password. Longer lengths will make it harder but they're a huge load while loading servers.

The most secure passwords are ones that use a combination of letters, numbers and special characters

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Tips for securing your crypto wallet from hacker's reach

Simple instructions and little things could help

1. Bookmark your fav site

2. Clear up your cache when done

3. Log out if you're done with a session

4. While on social media or forums, do not mention what cryptocurrency wallet you use.

5. Choosing A Strong Password: It is recommended to use a password that has atleast 12 characters long.

6. Do create backups: Kept in a secure place, a backup of your cryptocurrency wallet may save us from human errors or slip ups. It will also let you restore your wallet in case eventualities like pc or mobile theft.

The password should have a combination of letters, numbers and special characters.

7. Enable 2FA on your accounts: Mobile users may take advantage of Google authenticator. Two-factor authentication is a layer of security designed to prevent someone from accessing your account, even if they have your password. Two-factor authentication requires you to verify your identity using a random sequence of six numbers. To learn how to activate 2fa here

8. Use of hardware wallet/cold storage: The invention of hardware wallets like trezor, nano etc makes it possible to use online wallets in a more secure manner. Hardware wallets are like USB drive, it's for personal use. Also you have to safe guard your hardware by keeping from anyone's reach.

Cold storage in the context of Bitcoin refers to keeping a reserve of Bitcoins offline. It's entails the use paper wallet or hardware wallet

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Closing Remarks

Try to always help beginners to buy and sell with security. This territory is new and we should assist people who are trying to find their way.

To further secure or strengthen your accounts, hardware wallet are recommended as mentioned above. It is most secured of the options. They're unhackable and are the safest form of storage. Someone will need to come physically and point a gun at you to steal your funds from Trezor, Nano-S or keepkey.

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References/External Links

• en.bitcoin.it
• mydigitalshield.com
• bitcoinist.com
• cryptopotato.com

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Do you take any additional wallet security measures that are not on this list? Let us know in the comments below.

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