SAFE WAYS TO PROTECT YOUR CRYPTOCURRENCIES

Cryptocurrencies over the years have been positioning themselves in the financial market to the point that large corporations are adopting them as a payment method and, in turn betting on their future.

About ten years ago, nobody considered  ​​investing in cryptocurrencies today; it has become the source of income for many and the shelter of investments for others, you can check here.

The fact that there is no regulatory body still makes many doubts come to our minds because it is difficult to understand how a platform as innovative as blockchain guarantees the security of transactions without the intervention of third parties.

This specific feature is the main attraction for many prestigious companies such as Paypal, Microsoft, Takeway.com, among others, which carry out purchase operations of goods and services online with cryptocurrencies (Bitcoin).

Advantages of cryptocurrencies

We know that the cryptocurrency market is a hazardous financial market for many, but a pertinent and timely analysis can avoid these risks and turn them into great investment opportunities.

Some of the advantages that many of the companies that adopt cryptocurrencies suggest are listed below.

  • Transactions are executed in short times and transparency.
  • Commissions or costs per operation are meager
  • Funds transferred can be monitored
  • They are entirely decentralized or independent of the traditional financial market.

Protect your cryptocurrencies from cyber attacks

The management of cryptocurrencies, whether by individuals or corporations, requires a level of protection and security in terms of the operations carried out and the applications used to operate with cryptocurrencies.

Some tips to protect your cryptocurrencies from any fraud attempt or cyber-attacks can be listed below.

  • Place authentication in two steps

To access your cryptocurrency accounts, it is advisable to use at least two user authentication methods so that hackers fail in their attempts.

Some of the authentication methods used is facial, or fingerprint recognition, emails, or a phone number confirmed through messaging; this will also depend on the device we have.

Never use passwords that you have used in other accounts, much less include data such as dates of birth or family names; these are always the data that most apply.

  • Use the wallet offline

Every time you go to carry out an operation, place your wallet offline; consequently, wallets visible online are the first target of hackers.

The suggested strategy is cold storage, which consists of printing the key of the operation and automatically deleting the data that can be traced, preventing strangers from accessing the account, something that when you are connected to the internet is impossible to avoid.

  • Enter only with one device

Having a team for exclusive use to carry out operations with cryptocurrencies is not something that makes you fastidious; it is just that when the responsibility of your accounts or a company is on you, you must be meticulous.

Only enter if it is urgent from a reliable team.

  • Keep your device safe

It is essential to have a security system that keeps devices protected from possible cyber-attacks.

If Not having this type of security system known as antivirus software or antispyware can lead to you being a victim of information theft or kidnapping.

  • Never enter insecure links

Avoid entering pages with a dubious origin; that is, you should always check the URL of the website you enter or intend to enter.

Through these two options, hackers enter the devices that have cryptocurrencies.

Conclusion

It is essential to insist that care must be taken when carrying out operations with cryptocurrencies, both before and during, and after the process.

Once the security of our account is violated, it is impossible to recover the lost money.

Many offers of dubious origin are scattered on the web; each user’s responsibility is to make the correct decision as to which page or suggestion is safe and reliable.

As much security as the blockchain platform offers, let’s remember that there are more risks to which you are exposed as an investor, and an error even in authentication could be fatal for investments.

It would be best if you always made a preliminary analysis of the steps to follow when investing or making payments with cryptocurrencies; there may be many virtues, but whoever wants to take advantage of it will always be on the prowl of the vulnerability of a distracted individual or corporate investor.

Noah Murphy
Noah Murphy
If Life is just a game and luck is for losers - Then I am winning the game

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