The global crypto market has grown impressively through the years, making it a major attraction for investors worldwide. However, due to its infancy, it is volatile and not strongly regulated, making it perfect for cybercriminals and scammers.
Thus, the intelligent thing every investor should do is find ways to secure their cryptocurrency. The Coin Dispute Network was established to aid investors in recovering their stolen crypto if they fall victim to scams or cyber theft.
Below, the Coin Dispute Network team shares the best ways of ensuring your cryptocurrency is safe.
5 Of The Best Ways To Ensure The Safety Of Your Cryptocurrency
Below are the five best ways to ensure that your crypto investments are always safe.
Ensure That The Exchange You’re Trading On Is Reputable And Safe
There are hundreds of crypto exchange platforms to trade on. However, only some of them are genuinely secured.
Some of the verifiably secure platforms are Binance, Gemini, Crypto.com, Coinbase, Kraken, etc. they all have solid cybersecurity infrastructure and are great trading options.
Always Ensure The Security Of Your Internet Connection
You can do this by firstly avoiding public Wi-Fi networks and suspicious websites. But you can also set up a basic security infrastructure in the privacy of your home.
Test if your firewall is strong and your anti-malware is appropriately set up. You can also get a good VPN to protect your online activities from hackers. It would help if you also considered setting a stronger password for your router.
Make Use Of Two-factor Authentication
Many platforms now have multi-factor or two-factor authentication, requiring you to provide at least two verification means before accessing the account.
This could alert you when scammers are attempting to breach your security. This method also reduces the chances of a security breach.
Use Multiple Passwords
Never use the same password across multiple platforms. Your crypto-related password should be different from your other passwords. It should be unique and changed periodically.
Due to the risk of forgetting your password, you can get a secure password manager rather than writing it down in plain text.
Make Use Of Multiple Cold Wallets
As a crypto trader, you were keeping all your funds in exchange is not a good idea, even though it might seem like it. This is because some of them get breached even though your business might be safe.
Also, during a downturn, some platforms put a hold on withdrawals. Having all your funds on such media at these times is very risky. The smart option is to store your crypto in independent wallets, such as cold or hardware wallets.
Cold wallets are safer than software wallets as they are not prone to cybersecurity due to their inaccessibility via the Internet. The best option is to distribute your funds between multiple cold wallets and leave only a tiny amount in your software wallet or exchange.
Also Read: COIN DISPUTE NETWORK REVIEW: HOW THE EXPERTS AT COIN DISPUTE NETWORK FOUND MY STOLEN CRYPTO https://mediatrainingforceos.com/how-the-experts-at-coin-dispute-network-found-my-stolen-crypto/