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Crypto is so popular for the high levels of privacy, security, and transparency it provides to worldwide users. And this is probably why so many users start investing in at least 1 cryptocurrency.
But how can you ensure that your digital assets are safely stored and cannot be stolen by anyone? In a world with so many major thefts and plenty of hackers trying to break into various crypto projects, especially exchanges, you cannot always be sure that your crypto is safe and will not be subject to one of the thefts.
This article will offer some tips for maintaining your privacy and increasing security while trading crypto on various dedicated platforms.
Secure Your Wallets and Devices
It is widely known that crypto cannot be stored in physical wallets or pockets. Instead, you have to set up a crypto wallet. In fact, there is a type of physical crypto wallet called a paper wallet, but we highly recommend not using them.
The other 2 popular types of crypto wallets are hardware and software wallets. While hardware wallets consist of a physical device, they are still connected to the online space, and without an internet connection, you cannot trade the crypto it stores.
Usually, hardware wallets are safer than software options, as they store your assets offline on a device. However, keeping the public and private keys safe is very important because losing them means losing your crypto definitively.
Besides choosing a high-quality crypto wallet, you should also ensure that the devices you use for trading are secured, too. It takes only one vulnerability for a device to be hacked; a few moments can affect you for a long time.
So, if you use a PC to trade crypto, try to find a trustworthy antivirus to increase security for your device. You can also opt for a premium version if you want to be even more protected. Besides, you can choose an antispyware software to check for malicious software regularly. This way, you can ensure that your digital assets are safe and no one can interfere in your crypto trading activities.
Use a Trustworthy Browser
Nothing is more frustrating than knowing you could choose a safer web browser to keep your digital assets where they should be. Losing your crypto is quite a sticky situation, and if you want to avoid it at all costs, you can try to use a trustworthy web browser.
Some browsers do their job right, offering tracking, malware, and phishing protection, pop-up blocking, and anti-fingerprinting protection for both normal and private browsing modes. Besides, they are open-source browsers, meaning that their code can be thoroughly researched and scrutinized by the community.
Another thing you can consider is using a crypto search engine. Such decentralized web browsers are platforms designed to help crypto projects expose their businesses. Besides, considering that such crypto search engines are decentralized, it is safe to say that they provide a higher level of privacy and security. Besides, some of them also offer users various tools, such as user-friendly crypto exchanges where they can perform various trading activities.
To add an extra layer of privacy and security, you can use a VPN (Virtual Private Network) service. A VPN encrypts users’ IP addresses and creates a tunnel for the traffic between users’ devices and the servers they want to access. This will significantly lower the vulnerability of personal data, as it will be harder and nearly close to impossible to track it online.
Don’t Keep All Crypto in 1 Wallet
We’re not saying you should create a wallet for every type of crypto you hold. However, keeping your digital assets in different places is almost essential. This way, stealing them during various hacks and thefts will be harder.
The magic formula in this situation is having 2 wallets with different purposes. First, you should set up a software (or hot) wallet for various online trading activities. This will allow you to buy, sell, swap, and trade cryptocurrencies seamlessly and quickly. When choosing a crypto wallet, keep in mind that it should support the cryptocurrencies you aim to purchase and should be supported by the crypto exchange or trading platform you will use. Otherwise, you might be required to create a different wallet after some time.
Then, to store your digital assets in the safest way, you can opt for a hardware (or cold) wallet. We’ve already mentioned they are a better option because they store transaction addresses on a physical device. However, it’s harder to use a hardware wallet when it comes to trading.
Thus, you can trade crypto, withdraw it to your hot wallet, and think of how much you want to hold. Then, move that amount to the hardware wallet to keep it safe while using the rest of the crypto purchased for further trading activities.
Don’t Use Public Wi-Fi
Public Wi-Fi is surprisingly (and worryingly) accessible. Everyone uses the same Wi-Fi network at a restaurant or cafe and does not feel in danger. However, they should be concerned, as public Wi-Fi is the cause of many hacks and thefts.
Imagine a public Wi-Fi network as a cup of tea everyone drinks from. One who drank from that cup has a cold; now everyone has it. This is how fast viruses spread on your devices, too. Actually, they spread faster than a cold on such devices. And treating a cold might be easier than eliminating a virus that invaded your device.
Thus, try not to use public Wi-Fi when trading crypto. And if possible, never use a public Wi-Fi network. Crypto assets are not the only thing that can be stolen from you. Hackers can also look for fiat or personal information. Identity theft risk has surpassed 50% since 2020, so this is no joke.
In Conclusion
The crypto industry has become significantly popular thanks to the advantages it brings to the table, such as privacy, transparency, and security. However, as much as crypto companies might try to maintain high levels of each one, bad actors try to improve their hacking skills.
To ensure that your digital assets and personal information are safe while trading crypto on various dedicated platforms, try to secure your wallet and devices, use multiple wallets (we recommend using 1 cold and 1 hot wallet), and never use public Wi-Fi networks.
