Security of your digital assets should be the top priority if you decide to venture into the world of cryptocurrency. With cases of cyber security breaches in the world of crypto increasing each day, the need for crypto investors to exercise extreme caution can not be underscored.
While the number of crypto wallets with better security features like Defix and many others has already hit the market, many investors are still finding it challenging to secure their digital assets.
In this article, we explore ways you can protect your crypto portfolio.
Be careful with mobile traffic
As the popularity of cryptocurrencies continues to experience an upward trajectory, Phishing campaigns and other malicious apps have now become rampant in the mobile market. Besides the dangers of phishing, malicious apps can easily access your login data and steal your digital assets.
We, therefore, recommend that you install an antivirus on your mobile device to keep these malicious mobile apps at bay.
Never Share Your Private Key
Despite installing a credible crypto wallet that offers advanced security features, sharing your private keys with a third party should never be an option. To avoid leaking information about your private key or possible hacks, you can simply print out your private keys on a piece of paper and hide them.
Once someone gets access to your private keys, you increase the chances of losing all your digital assets. We, therefore, encourage you to keep your private keys from being accessed by other people to secure your digital assets.
Use a Strong Password
If you have invested crypto on various platforms, try not to use a similar password. Besides implementing the two-factor verification, ensure you change your password regularly.
To save time, you can use a password manager to automate the process. The bottom line is that you should take the security of your crypto wallet seriously to eliminate potential vulnerabilities that may compromise your crypto wallet. This is why we recommend the Defix wallet, since it comes with unmatched security features that you can leverage to secure your digital assets.
Stop Trusting Crypto exchanges
While many investors prefer exchanges to trade and manage their crypto portfolios, not all exchanges are credible. You risk losing all your funds should you choose the wrong platform. Alternatively, you can check out Trustpilot reviews about various exchanges before investing.
Conclusion
Investing in cryptocurrency has become a lucrative business venture for many investors. Despite attracting many users, they come with many risks. Such include losing your private keys which may lead to the loss of your entire investment.
Have you ever wondered why many people are skeptical about investing in cryptocurrency? It is because the crypto industry has attracted many fraud cases which can be so demoralizing. It is against this backdrop that we have shared helpful information to save you from the risks of losing your digital assets.
However, you can generate impressive income from crypto if you understand the ropes. All you need is to focus on how to secure your digital assets and learn how to trade. Just like any other type of business, you can either make a profit or loss depending on the prevailing market conditions.
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How to Keep Your Crypto Wallet Secure at All Times was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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