Storing asset security with crypto is a security measure implemented by crypto asset owners to ensure that their crypto is safe and protected from hacking activities or online theft. Crypto has some better security than traditional money because it uses blockchain technology which is a distributed and decentralized system. However, owners should still pay attention to things like choosing a reliable crypto exchange, using a secure digital wallet, choosing a strong password, and checking transaction history and actions regularly. All these measures are implemented to ensure the safety of the owner's crypto assets.
Safeguarding crypto assets is just as important as keeping physical assets safe. Because crypto assets are digital assets, security must also be maintained through appropriate steps.
How to Keep Assets Safe with Crypto
1. Use a trusted digital wallet or hardware wallet
A digital wallet is a repository of crypto assets, so it is very important to choose a trusted and secure wallet. Make sure the digital wallet you use is credible with a good reputation and positive reviews from users. Alternatively, you can use a hardware wallet which has a higher level of security as your private key is not assembled on any internet connected device.
2. Store passwords and private keys securely
Ensure that your private key and digital wallet password are stored securely and cannot be accessed by others. Keep the key in a hidden place like a safe or somewhere that is difficult for others to reach.
3. Do not store archives and private keys on the device where others can access them
Make sure that your files and private keys are not stored on a device that can be accessed by others such as a public computer or mobile device that can be accessed by family members.
4. Make sure your digital security device is protected with a strong password
It is important to protect your digital devices to be safe from data theft and hackers. Ensure a strong, complex password with a combination of letters, numbers and special characters and don't forget to change it periodically.
5. Enable two-factor authentication for each digital wallet or crypto exchange
Two-factor authentication is an additional layer of security provided by many digital wallets and crypto exchanges. This makes your account more secure and harder to hack as it requires verifying the user's identity with a unique code sent via SMS or an authentication app.
6. Check the website URL before entering your login information to make sure the site is secure
Make sure the website URL address of the digital wallet or crypto exchange you are using is correct and secure. Before entering your login information and password, ensure that your URL address is directed to the correct and secure website.
7. Use a VPN when making crypto transactions on public network access
A VPN or Virtual Private Network is a great way to protect your internet connection from hackers and data thieves. Use a VPN when using unsecured public Wi-Fi or public internet access to access your digital wallet or crypto exchange.
8. Avoid sharing personal and confidential information to ensure your safety
Do not share personal or confidential information, such as passwords or private keys, unless you are absolutely sure of its purpose and security. Don't share with people you don't know or through untrusted apps or websites.
9. Check the credibility of the crypto exchange or platform before investing
Make sure that the crypto platform or crypto exchange you use is credible and trustworthy. Check user reviews and transaction history to ensure that the site you are using is reputable.
10. Don't invest in cryptocurrencies that don't have a clear trading history
Make sure that the crypto you buy has a clear and trustworthy trading history. Avoid buying cryptos that don't have a clear trading history and make sure you understand the level of risk before buying them.
11. Set your loss limit
In the investment world, there is a risk of losing your money. Make sure you clearly set your loss limit and stick with it. This helps prevent you from losing too much money if the crypto price drops sharply.
12. Avoid following investment advice from unreliable sources
Avoid following unreliable investment advice, especially on social media. Many crooks try to get people to follow unsound investment advice, then steal the money spent by those investments.
13. Protect your email account
Your email account is often the entry point for access to your online services. It's important to protect your email account with a strong password and enabled two-factor authentication. Also make sure that you keep updating your personal information properly in your email account.
14. Do not enter personal data on untrusted websites
Avoid entering your personal data on untrusted websites. Avoid websites that ask you to provide personal information such as passport or ID card numbers, bank account numbers, credit card numbers, and so on. Make sure the website is trusted and make sure the security protocol used is SSL.
15. Verify 2 factor authentication
Make sure to enable the two-factor authentication feature on each digital wallet or crypto exchange you use. By creating two-factor authentication, you strengthen the security level of your account by requiring a second authentication information to be entered besides your login and password when accessing your account. This makes access to your account difficult for the people you're with.
16. Keep up with the latest news about crypto
Keep yourself updated with the latest crypto news so you can stay abreast of market trends and make wise decisions. Don't just rely on one source, make sure you get information from trusted sources.
17. Use an offline wallet
Offline wallets are crypto wallets that are not connected to the internet. This is a great way to store your crypto in a safe place and avoid hacking and online theft.
18. Ensure that your PC is secure
Ensure that your computer is safe from viruses and malware by using reliable antivirus and firewall software. Do not access your digital wallet or crypto exchange from an unsecured computer.
19. Check action and transaction history periodically
Make sure to check the action and transaction history on your digital wallet or crypto exchange regularly. At a minimum, you should check your transactions weekly, if possible daily to ensure that no suspicious or unauthorized activity is taking place on your account.
In an effort to keep assets safe with crypto, there are several steps that need to be taken. First, make sure that you are buying crypto from a trusted exchange or source. Second, use a secure digital wallet or crypto exchange. Third, use a strong password and two-factor authentication to protect your account. Fourth, periodically check the action and transaction history. Also, ensure that your computer or device is safe from viruses and malware and avoid entering personal data and following investment advice from untrusted sources. This will all help you keep your crypto assets safe.