Top tips how to keep your cryptocurrencies secure

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Best Hacker-Proof Tips to Secure Your Cryptocurrencies

Cryptocurrencies are one of the hottest topics of our generation and are drawing in more and more investors and people looking to make money with each passing day. On the blockchain, new records can always be added, but existing ones cannot be modified, meaning that once a transaction is made, it cannot be reversed. One of the most important features of the blockchain, its decentralization, can prove to be one of the biggest drawbacks in case of an attack or scam.

Sadly, since their inception there have been so many hacks, attacks, and crypto-related scams, that most people already know that cryptocurrencies are not a typical form of payment, meaning that the risk of loss, theft, or hacking is much higher.

In this article, we’ll be providing you with a few practical and important hacker-proof tips to secure your cryptocurrencies. However, before we go even further, you should know that there is no fault-proof method of securing your funds and that there’s always a slight chance that things could go wrong.

Stick to the services you know

This is more of a general advice, but it mostly refers always to make sure you take any third-party service’s claims with a grain of salt. It’s important to conduct your research, and see what the community at large thinks. Be careful where you shop, and consider the possibility that most merchants who accept crypto payments are not reputable.

Of course, you should always use the popular names in the field, regardless of we talking about exchanges, wallets, forums, and online shops. Avoid accessing unknown sources, and be as reluctant as possible to services that require you to add sensitive information.

Another top tip is to install a browser extension that blocks scripts (usually used for phishing attempts). It might be worth considering installing a VPN service or app. These apps are designed to encrypt and anonymize your online activities, further lowering the chances of hacks.

A better password means better protection

This might seem like a way too obvious advice. However, having all the security tech in the world can’t help you if your password is an obvious one. Consider getting proactive with your passwords and start using strong passwords of a minimum of fifteen characters which include upper and lower cases, numbers, and other special characters.

Also on the subject of passwords, set up two-factor authentication whenever you can. Nowadays, most exchanges and hot wallets offer support for this feature, so it would be a real waste not to take advantage of it.

Secure your devices

If you’re using your computer to access most of your daily crypto services, wallets, exchanges, etc., then it’s of the utmost importance to ensure that all the security features are up to date. This includes system updates, firewall updates, and antivirus definition updates. A very good idea might be to move away from Windows or macOS to what is generally considered to be a more secure OS, such as Linux.

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Another good tip would be to consider having a fully crypto-dedicated device, a PC or mobile device just for buying and selling cryptos. This will ultimately lower the risk of hacks, attacks, and scams. Since you can never be too safe, it might be worth performing these transactions from the confines of a virtual machine. This allows you to have a “fresh” OS up and ready each time you want to make a transaction and discard it once you’re done.

Since we are on the subject, it’s IMPORTANT to remember to NEVER access or login to your cryptocurrency accounts using public WiFis.

Keep multiple backups of your private keys/recovery phrases in secure locations

Even if you’re new to the world of cryptocurrency, we’re sure you know that you can only access your funds via private keys. That is why it’s important to store the keys in multiple secure locations such as a home vault or a safety deposit box in a bank. It would help if you also considered encrypting both your private keys and your recovery phrases.

In conclusion, it’s important to back up every piece of the access information. Please make sure you backup everything from private and public keys to passwords and codes, and store them securely.

Invest in a good hardware wallet

It’s common knowledge that hardware wallets are the most secure form of protecting and storing your funds. Hence, if you own large sums of cryptocurrencies, it’s worth investing in a crypto wallet. Ledger Nano S, Trezor, and KeepKey are all very good options, each one of which comes with its advantages and disadvantages. Don’t forget to also set up a recovery phrase.

Keep an eye on your account

One of the most important practices is to check your crypto accounts frequently. Even though if an attack would happen, there’s no guarantee you will be able to get your funds back, promptly reporting unauthorized access will definitely help the community at large. Nowadays, there are a great number of exchanges and services that offer insurance against such events, meaning that the better you report unauthorized access, the better.

Good luck securing your cryptocurrencies, and we hope you’ll never be in the position where you regret not using at least some of the tips mentioned above.

How To Keep Your Cryptocurrency Safe: 7 Must Have Wallets

References are made wherever possible. All statements are based on the author’s experiences. I take pride in informing the public and helping as many as I can through sharing my experiences with my readers. That said, no one except you can take responsibility for your investment decisions, so do think it through before investing. If you are looking for more detail on how cryptocurrencies actually work, take our course on it.

With the current merciless run of the bull market , it is only a matter of time before your crypto holdings surge in value. When it does, like it or not, crypto will unavoidably receive much-unsolicited interest from hackers. To not repeat the tragic Mt. Gox incident , holders are removing cryptocurrency from the exchange and decentralizing their storage.

The question of why you should purchase a wallet becomes the more pertinent question of which wallet should a cryptocurrency investor use. As do all forms of insurance, security comes at the cost of money and convenience. How should we balance it in a way that suits our risk profile?

In this post, I will summarize the unique features of the top 7 cryptocurrency wallets that an experienced holder must know of.

Desired traits of a Cryptocurrency Wallet

What are the desired traits of a crypto wallet and how hard can choose a wallet to be? This seemingly easy answer, unfortunately, does not have a satisfying answer: convenience may come at the cost of security; additional features may come at the cost of a steeper learning curve. More importantly, what are the traits that, ultimately, you value over the others? See the list below, not in order of importance:

  1. Cost. Is it free? What are the drawbacks of using this wallet?
  2. Security. Does the company have a track record of security excellence?
  3. Mobility. Is it easy to keep and difficult to lose? Is it accessible anytime, anywhere?
  4. User-friendliness. Is the wallet UI intuitively designed? Can I store a range of altcoins?
  5. Convenience. Am I able to make a fast purchase when the time calls for it?
  6. Style. Do I have a weakness for cool tech gadgets?

You may want a wallet that offers the best combination of the above-mentioned traits. Remember, all wallets have their edges and shortcomings.

7 Must Have Wallets: How To Keep Your Cryptocurrency Safe

Atomic Wallet

Atomic Wallet is a new multi-asset, non-custodial solution with an actively growing user base. Atomic Wallet already supports 300+ top coins and tokens that can be managed in the intuitive, user-friendly interface. The list of available assets is updated on a weekly basis, so if you didn’t find your favourite coin here — you can be sure it will be added soon.
Atomic Wallet is available for all major OS: Windows, Mac and Linux. Mobile apps for Android and IOS will be released in October, 2020.

Apart from the intuitive UI, Atomic Wallet has offers a wide range of features, such as decentralized storage for private keys, a built-in option to buy crypto with a bank card, Atomic Swaps, instant exchange via Changelly or Shapeshift and an interface for custom tokens. What makes Atomic Wallet so unique is the support of Atomic Swaps, a relatively new decentralized exchange technology based on hash timelock contracts. Currently, this feature is available for Bitcoin, Litecoin and QTUM. In the nearest future, Atomic Wallet plans to make Ethereum available for the swaps, as well.

KeepKey – Hardware Wallet

The coolest looking tech gadget to show off to your friends . Made by a relatively new company, KeepKey offers a hardware wallet of a polished design. KeepKey is said to be a port of Trezor’s code and firmware, so their main difference is the material. KeepKey feels like a ‘premium’ wallet but might be a little on the heavy side and hence more susceptible to drops. It comes with a standard, simple to use client UI.

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Nano Ledger S – Hardware Wallet

Nano Ledger S is just as secure as the other two hardware wallets. It is popular because of its relatively low price of $65 compared to its competitors. Being smaller than KeepKey, it is more portable and easier to carry around. It is a hardware wallet that comes at a very competitive price.

Trezor – Hardware Wallet

Trezor is one of the first movers in the hardware wallet industry and sets the gold standard for crypto security . Trezor has a reputation for providing top-notch security, protecting against both virtual and physical theft. What Trezor lacks in style, it more than makes up in the security department. Even if your PC is compromised with malware, your private keys will still be safe with Trezor. In this sense, Trezor is more of a vault than a wallet.

Coinbase – Hot Wallet

Coinbase is an online web-based wallet and is the beginner-friendly version of GDAX. As a hot wallet, you can easily transfer to the GDAX exchange instantly, and for free. In the same interface, you can make quick purchases with fiat. What’s more, 100% of your crypto holdings on Coinbase is insured. You can activate 2-Step Verification and Google Authenticator for more protection, and Coinbase even has a vault available if you wish to trade convenience for an added layer of security. The only drawback is that Coinbase only offers Bitcoin and Ethereum wallets .

MyEtherWallet – Paper Wallet

Paper wallets are for those who wish to have their own private wallets without forking out cash for hardware wallets. The money saved could be invested in their coins. Simply generate your wallet online at myetherwallet.com and note your private keys . The website does not store or transmit any of your private information. If you don’t trust the online version, you can even download it from GitHub and run it offline . Paper wallets are free but require an in-depth knowledge to set it up properly . In short, this type of wallets generally take a lot of hassle and are not advised for novices.

Jaxx — Software Wallet

Carrying your crypto around safely and conveniently is no longer a distant dream. Behold Jaxx, the world’s first mobile wallet solution. Versions for iOS, Android, desktop and browser are now available . Jaxx uses a mnemonic seed to back up your wallet or transfer it to a different device. Jaxx allows you to receive your funds, scan QR code, view your crypto holdings, all in one intuitive app. Advanced features such as shapeshift integration and multiple platforms wallet linkage makes this the preferred wallet for the tech savvy. The only drawback with this wallet is that it might have a steep learning curve, and features might not be stable with all the new integrations. With time, this will prove to be a promising solution.

Electrum – Software Wallet

Electrum is a fast, lightweight wallet for desktop and mobile users. It has a long list of supported features to make it the most flexible wallet today. It offers cold storage solutions, integration with hardware wallets (KeepKey, Nano Ledger S, Trezor) and able to achieve anonymity (with Tor). On the security side, Electrum enables multi-sig support, and it is not tied to a centralized server, so server downtime will not be an issue. Overall, Electrum is the established software wallet solution out there that warrants a try-out.

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An all-in-one package wallet does not exist. It is important that you manage to find the wallet that addresses your greatest concern, be it security from theft, ease of transfer, convenience, monetary cost, or even style. A wallet may turn out to be your greatest investment decision, financial wise and emotional health wise.

I sleep soundly with my KeepKey under my pillow these days. Which wallet would you prefer? ��

What is the most secure way to keep your Cryptocurrency safe?

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I think you are supposed mine them. A friend of mine was into mining bit coins. He mined a lot of bit coins but then unfortunately he died. I don’t know what ever happened to all those bit coins he mined.

There is another way. Maybe if you are going to sell something like a car for example you can sell it to somebody who wants to pay in bit coins.

I would rather use dollars myself. Then you know what you are getting and you don’t have a lot of trouble trying to find somebody who will take them if you want to buy something. Pretty much everybody will take dollars. Do you know anybody who has a.

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