The fast growth of the crypto industry has increased the rate at which some individuals (cyber thieves) rob investors and crypto traders of their investment. How do I protect my crypto assets from cyber robbers?
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The fast growth of the crypto industry has increased the rate at which some individuals (cyber thieves) rob investors and crypto traders of their investment. How do I protect my crypto assets from cyber robbers?
You must know that you’re responsible for the safety of your cryptocurrency, there is no such thing as middlemen such as banks or other payment systems you can run to if your assets should get stolen. Absolutely no one to call to get it back. Also, know that cryptocurrency does not have those regulations and insurance found in the traditional banking systems. Therefore, you’re solely responsible for your crypto assets. Use strong and long passwords to protect your wallets. Avoid using names of family members of pet
Consider storing god clubs both online and offline. Offline wallet is the use of hardware wallets such as Trezor or Nano Ledger S to keep your coins.
Backup all your passwords, pins, keys and everything relating to your crypto wallet. If you forget, that’s a permanent loss for you
Do not talk about your crypto investment to people, you will become targets for thieves.
As the value of cryptocurrency rose, so did the number of ways to steal crypto assets. The most ideal way to protect your crypto investment from cyber thieves is to use two wallets, online and offline wallets. You can keep a small amount of bitcoin in an online wallet that you can access on your computer or phone anytime. While you keep the large amount in an offline wallet. The offline wallet must be well secured, as loss of it means permanent loss of all bitcoins therein. Also, when you encrypt your offline wallet, it is important that you do not forget how to decrypt it, if you do, the content is lost forever.