Do you know the best way to secure your crypto and nft’s?

You have crypto and nft’s? Ok let’s say you mine, trade or get a gift of crypto and nft, how best do you keep it safe? In this article you will find the best ways you can secure your crypto and nft’s.

How to Safeguard Your Cryptocurrency Wallet from Digital Exploits

Get yours on Amazon

1. Use a Cold Wallet

New, check it out

Unlike hot wallets, cold wallets do not connect to the internet therefore, they are not prone to cyberattacks. Storing your private keys in a cold wallet, also known as a hardware wallet, is the most viable option as these come encrypted, keeping your keys secure.

In 2019, the Japanese exchange BITpoint discovered an unauthorized withdrawal of $32 million from its hot wallet in different cryptocurrencies targeting more than 50,000 users. The exchange held five cryptocurrencies in its hot wallet: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. However, BITpoint clarified that its cold wallet and cash holdings were not affected in the incident.

2. Use Secure Internet

While trading or making crypto transactions, use only a secure internet connection and avoid public Wi-Fi networks. Even when accessing your home network, use a VPN for additional security. A VPN changes your IP address and location, keeping your browsing activity safe and private from threat actors.

3. Maintain Multiple Wallets

Since there is no limitation for wallet creation, you can diversify your cryptocurrency investments in multiple wallets. Use one wallet for your daily transactions and keep the rest in a separate wallet. This will protect your portfolio and mitigate the loss of any breach to your crypto account.

4. Secure Your Personal Device

Make sure your personal device is up to date with the latest virus definitions to defend against newly discovered vulnerabilities. Use a strong anti-virus and firewall to improve your device’s security to avoid hackers from taking advantage of the weakness by writing code to target the vulnerability.

5. Change Your Password Regularly

We cannot underrate the importance of a strong password while talking about security. According to a study, three-quarters of millennials in the U.S. use the same password on more than 10 devices, apps, and other social media accounts. It also stated that most of them were using the same password in over 50 different places. Make sure you have a strong and complex password, which is difficult to guess, and change it on a regular basis. Use separate passwords if you have multiple wallets. Opt for two-factor authentication (2FA) or multi-factor authentication (MFA) for additional security.

6. Don’t Get Phished

Phishing scams via malicious ads and emails are rampant in the cryptocurrency world. Be careful while making crypto transactions and avoid any suspicious and unknown links.

In a recent cryptocurrency heist, a hacking group “CryptoCore” targeted cryptocurrency exchanges via spear-phishing campaigns. Attackers stole cryptocurrency worth $200 million in two years, targeting companies in the U.S. and Japan since 2018. ClearSky stated that CryptoCore initiated a reconnaissance phase to identify the email accounts of the cryptocurrency exchange’s employees and security executives before conducting a spear-phishing attack. These attacks were performed using fake domains impersonating affiliated organizations and employees, and by embedding malicious links in documents via emails.

How to Securely Store Your NFTs

A software wallet is a popular choice for investors and collectors to store their NFTs, but it only has standard-level security. Software wallets are secured with encryption, password, and a 12-24 word seed phrase.

One of the biggest cons about software wallets is that they need to be accessed via a browser or cloud service. In comparison to other file storage methods, software wallets provide the lowest level of security, so it’s best to store your NFTs in them for a short period of time.

New item, check it out

Keeping your NFTs protected is essential, as they are digital assets that are worth money and could also hold sentimental value. NFTs should be stored in a secure location, and if you’re buying NFTs as investments or collectibles, you’ll want the highest security possible.

There are three methods of NFT storage. Here you’ll learn what those storage options are, the security they provide, and the best option for you.

1. Software Wallets

A software wallet is a popular choice for investors and collectors to store their NFTs, but it only has standard-level security. Software wallets are secured with encryption, password, and a 12-24 word seed phrase.

One of the biggest cons about software wallets is that they need to be accessed via a browser or cloud service. In comparison to other file storage methods, software wallets provide the lowest level of security, so it’s best to store your NFTs in them for a short period of time.

2. InterPlanetary File System

An InterPlanetary File System (IPFS) works by storing your NFT assets off-chain, helping to mitigate the likelihood of hacks and cyber attacks. Alongside storing your assets off-chain, IPFS utilizes content identifiers (CIDs), which are pieces of data that are linked to your NFTs. This method provides additional layers of security, as easily hackable URLs are not used to access the NFTs.

What makes the IPFS one of the most secure NFT storage options is that the CID data hashes are stored locally on your computer. When data is requested from the IPFS, the nodes look for the same data hash between the NFT and the locally stored data.

3. Cold Storage Hardware Wallet

Despite an IPFS being a very secure method of NFT storage, it can still be hacked via your computer.

Known as the best and most secure way to store your NFTs, cold storage hardware wallets provide the most security for your digital assets because all of your sensitive data is stored offline. Furthermore, all of your data is password-protected to provide an additional layer of security.

Cold storage hardware wallets usually come with multiple features to provide greater functionality to users. One of those features is the ability to restore the device’s content if it’s ever lost, stolen, or malfunctions.

Another major benefit of a cold storage wallet is that it can be used as a hot wallet through the device’s mobile connectivity. This allows you to look at your data and make transactions with the same level of security.

Tips For Keeping Your Crypto and NFT Secure

  1. Create complex credentials: Try to create login credentials with a mixture of capitals, numbers, and symbols to make your password less easy to guess or hack.
  2. Keep your login private: It may sound like an easy one, but it’s important to keep your login credentials to yourself and avoid ever texting or emailing it to anyone.
  3. Seed phrase: When using a software wallet, never give out your 12-24 word seed phase as it can greatly compromise the security of your NFTs.
  4. Avoid dodgy sites: It’s essential to avoid sites that may have any malicious intentions. Furthermore, try to regularly scan your computer for viruses and spyware.
  5. Storing your passwords: If you need to store all of your credentials and passwords, keep them in a physical format. By storing them offline, you can avoid a data breach and mitigate the risk of someone being able to access your NFTs.
  6. Store NFTs offline: If you’re not in a rush to trade or sell, keep your long-term digital assets offline, and as previously mentioned, a cold storage hardware wallet can help you to do that.
New, check it out
Share

Discover life changing special products we picked just for you

X