How to Protect your Crypto Investment Portfolio from Crypto Hackers 

If the recent string of heists in the crypto world is anything to go by, then you need to reconsider your crypto-safety measures. In 2022 alone, hackers have made away with over $1.7 billion in cryptocurrency. Crypto hackers are advancing their skills of cracking passwords and 2-factor authentication systems and exploiting weaknesses in the crypto exchange systems. Without the proper care, you could lose your investment.

How do you guarantee your safety with all these hackers trying to get you for everything you have?

Choose Your Wallet Wisely

The blockchain is transparent to all. However, hackers cannot use it to harm you. The blockchain is fully decentralized, meaning that no government, organization, or person can control the transactions. The biggest threat from hackers comes from the security of your wallet. The wallets on the internet store vital information such as email addresses, passwords, and your private key.

If your wallet provider slacks off, hackers can use loopholes and other exploits to get your data, access your wallets and transfer cryptocurrency and NFTs.

Perform background checks before you use any wallet and preferably use reputable wallets that have been around the longest.

Be Careful With your Devices

Hackers exploit many different angles to get their wishes. It is prudent to protect your devices in any way you can. Use the following tips

  • Do not use public Wi-Fi! 
  • Use a 2-Factor authentication system. This makes it harder for hackers.
  • Do not autosave your crypto passwords, just remember them.
  • Make antivirus tools your friend.

Keep your wallet keys offline

The only hackproof method is offline passwords. Store your wallet keys offline to reduce the chances of them falling into hackers’ hands.

As ironic as it sounds, a bank is the best place to store your wallet keys. A bank safe is virtually hacker-proof and can store the item for as long as you desire.

Do not Keep all your Crypto in One Basket

Do not keep all your cryptocurrency in one wallet. Diversify to minimize the risk in case of a hack. Do not store all your crypto on exchanges.

Crypto exchanges sometimes get hacked, you want to be on the safe side of this one, use cold storage or offline storage devices to minimize the risk of a hack.

Back up your Wallets

As a general rule of thumb, when it comes to any private and important data, always keep a backup. Back up your keys offline in your home as well as outside, for example, in a bank.

Phishing Scams

The most common way for hackers to gain access to your private passwords is phishing. The hacker creates a fake page similar to the real one. These pages will request you to log in. The moment you enter your login details, the page loads an error and sends the details to the hackers. 

To ensure you are safe from these scams, always confirm the identity of the website you are visiting. Check if the domain correctly matches the page you intend to visit.

Check the SSL certificate of a website, you can do this by ensuring there is a padlock active on the address bar. This certificate ensures that all your data is encrypted.

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