How to keep your crypto assets secure


3 mins read January 17, 2023

Keeping your cryptocurrency safe and in your control can feel like a full-time job. With hacks on the rise, targeted phishing attacks increasing, and data breaches abounding, the world of cryptocurrency may feel more dangerous than ever. However, there are some general things that you can do that will help you stay more secure than ever.

Set up 2FA

2FA, or two-factor authentication, is a system that requires you to prove your identity in two steps in order to access an account. Passwords are typically thought of as 1FA, or one-factor authentication. Using 2FA would require your password plus something else.

Simple 2FA methods may include a code that is sent to your phone via text message or email, though this method is considered not as secure. More secure types of 2FA include the Authy app for your phone, the Google Authenticator app, and the physical Google Titan key. Whatever 2FA option you choose, make sure it is one you understand and are willing to implement across as many of your accounts as possible. Using 2FA ensures that nobody can access your account, even if they somehow figure out your password.

Avoid public WiFi

Everybody loves free WiFi. However, once you step into the world of cryptocurrency, you should really try to avoid public WiFi as much as possible. When you access a public WiFi network, other individuals on that network may be able to see what websites you are visiting, what information you are typing in, and more. As a result, they can easily hack your account, gain access to your funds, or install something on your computer.

If you must use a public WiFi network, try to avoid accessing anything that has to do with your cryptocurrency assets. Keep your browsing simple, don’t log in to anything secure, and try to disconnect as soon as you can. Plus, you can improve your security by installing good virus and malware defence programs, which brings us to our next point.

Prevent viruses and malware

Antivirus programs can identify existing malware and remove them, protect you against new attacks, and eliminate vulnerability on your network. Most new computers come with a very basic form of antivirus technology, but you should always do your homework to make sure the program you have is strong enough to protect you. In much the same way that we take care of our physical bodies by eating good food and taking vitamins, we need to take care of our computer by running antivirus software.

Watch your apps

Unfortunately, not every app that is on the Apple App Store or Google Play Store is safe for your phone. Some apps are made to look like something that you already trust but secretly contain viruses and malware programs. For this reason, you should always double-check the source of the app before downloading it.

Checking out the app designer’s history can tell you if they are a trusted party, if they’re new to this, or if there have been any complaints against them. Minimize the number of apps that you download to your phone, and never download an app from somewhere that isn’t the approved app store for your device. Although malicious apps can hide on the official app store, sticking to this environment can at least limit the chances that you download something harmful.

In conclusion...

The idea that you are responsible for safeguarding your cryptocurrency may sound intimidating, but it’s something that you can get a lot of help for. There are countless tutorial videos and articles explaining how to use 2FA, how to be more secure, and how to stay safe. When in doubt, ask someone you trust what they do to stay secure and see if that makes sense for you as well.

Disclaimer: This article is meant to provide general guidance and understanding of cryptocurrency and the Blockchain network. It’s not an exhaustive list and should not be taken as financial advice. Yellow Card Academy is not responsible for your investment decisions.

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