Due to the uprise in crypto scams, the Coin Dispute Network was created. They aim to make crypto transactions as safe as possible by being on guard to apprehend scammers and recover your funds when you report such scams.
The Coin Dispute Network also recognizes that the safety of your crypto begins with you. This is why professionals from Coin Dispute Network have decided to share with us six best practices for keeping your crypto safe.
6 Best Practices For Keeping Your Crypto Safe
Be Aware Of Scamming Tactics
The first step to keeping your cryptocurrency safe is to know that your crypto isn’t safe. You have to be aware of the existence of crypto scams and the forms they take to avoid falling for them. Knowledge of various existent top crypto scams will keep you on your toes and alert.
Keep Your Password Safe
The primary way to access your cryptocurrency is through your password. Hence, it would be best if you kept your password secure. Some of the ways to keep your password safe are to;
Have a Strong Password
Your password must be strong and difficult to guess. Avoid using your name, date of birth, or any close relative or friend who can easily be associated with you. If you have an issue remembering long passwords, you can use a Password Manager.
A password manager can help you to create a strong password if you don’t have one. The best part is that you do not have to remember the password or write it down, as the Password manager will always be available for you to retrieve the password as long as you remember the passcode for the manager.
Don’t Save Your Password In Browser
Avoid yielding to those pop-up messages that ask you to save your password on the browser.
Avoid Using The Same Password For Multiple Accounts
Avoid repeating passwords for different accounts. Your password, especially for your cryptocurrency, must be unique. This is more reason why a secure password manager is advised.
Two-Factor authentication is a great way to keep your crypto safe. Websites and applications that have two-factor authentication security can be trusted to be safe. Also, 2-Factor authentication prevents a scammer from gaining access to your account even if one of your passwords has been compromised.
Store Your Cryptocurrency Offline
Avoid putting all your eggs in one basket. Keep some of your cryptocurrency out of your online wallet and into a cold wallet. Cold wallets are offline devices, so they can not easily be compromised.
Encrypt Your Data
Modern technology has a lot to offer and depending on your device, you can encrypt your data using different applications. Encrypting your wallets and gadgets is an excellent way of keeping your cryptocurrency safe and secure.
Always Use A Secured Internet Connection
It is absolutely necessary to avoid public Wi-Fi networks when performing crypto transactions, that will just make you vulnerable from possible attacks. It would help if you always were connected to a secured network. It would help if you also considered using a Virtual Private Network (VPN) while transacting.