Cryptocurrency
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Bitcoin, and indeed other cryptocurrencies, has grown in popularity and demand steadily over the past decade. That means that millions of people are continually trying to earn cryptocurrency and store it in cryptocurrency wallets for safekeeping. While you may use legal and acceptable means to acquire yours, hackers and cybercriminals are looking to take what's yours right from under your nose.

How safe is your cryptocurrency wallet against such threats? Here are a few tips that will make your wallet safer and minimize the chances of theft.

Key Ways to Secure Your Bitcoin Wallet

1. Switch to a hardware wallet

An online crypto-wallet is undoubtedly convenient for making quick transactions from your phone or laptop, but it is also the most preyed-upon cryptocurrency storage method. You may want to keep a sizeable amount for your daily transactions in an online wallet and get a hardware wallet for the cryptocurrency you aren't using at that moment.

Hardware wallets are also known as cold wallets. That is because they aren't situated online or tied to an internet connection. They provide both online and cold wallets that are safer than most options out there. Their cold wallets contain thick layers of encryptions and security that make it even harder for hackers to access.

2. Store Your Private Key Offline

Hackers try to get into bitcoin wallets daily so they can get access to your private key. If they succeed, then you can say goodbye to your money. It might be a good idea to store your private key somewhere other than the internet.

Devices can be easily manipulated and compromised to disclose any saved passwords or information. You can avoid this by storing your private key in a book or card and keeping it in a discreet location. Be sure not to include additional information that may give away what it is if someone stumbles upon it.

3. Steer Clear of Suspicious Links

Your online activity is your greatest giveaway, where cryptocurrency is concerned. Hackers have been known to clone websites or create slightly different addresses that can only be noticed under scrutiny. When logging into any websites that require your bitcoin wallet information, keenly cross-check the address to make sure that it is the right one.

It would also be best if you closed the tabs to such websites after accessing them. Cyber scammers have developed another technique to trick you into giving them your private key. They replace open tabs with phishing sites that require you to log in. the chances are that you will go to open tabs without thinking twice and fall victim to their trap.

4. Use Strong Passwords for Your Wallets

When choosing a password, stay away from options that have a connection to you, like your birthday, spouse, or pet's name. A complex password with numbers and symbols is your best bet. Be sure to activate two-factor authentication if your wallet allows it so you can get notified if someone is trying to access it. Cryptocurrency exchange wallets like those offered by OKEx, Binance and Coinbase provide all the latest security protocols to keep your assets safe. 

Remember to set passwords on your laptop, smartphone, and flash-drives as well. It is also crucial that you disable any settings that allow devices and drivers to be installed automatically.

Final Thoughts

All the tips provided above are relatively simple compared to the steps you might need to take if your wallet is hacked. Check that everything we have addressed has been implemented in your wallet, and you won't have to worry about your cryptocurrency disappearing into thin air. Better safe than sorry.

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