The world is increasingly becoming more tech-oriented. Cryptocurrency is becoming popular these days. The major attraction of block chain technology and cryptography remains security. Blockchain technology with its distributed ledger makes it hard for anyone to hack crypto-wallet.
Still, some of risks always remain with crypto-wallet. Some of these risks are discussed here:
Crypto-phishing scams via Gmail and Google Ads. In this year of 2020, phishing scams have become worse due to Coronavirus pandemic. These scams are social engineering scams that prey on emotions of the human beings. They originate from a trusted source and show a link that compromised crypto-wallet.
This malicious players spoof social media accounts, change the real address and dupe people by giving them a feeling that they are communicating with real website.
This is a malware that malicious actors use to extort money from crypto-wallet holders. The hackers encrypt the wallet or the smart devices and demand for money in exchange for decryption key. This acts like a threat wherein ransom messages are displayed on screen calling attention by using fear to pay the money.
Despite these risks, crypto wallet remains one of the best options to secure cryptocurrencies. Read on to know about the best ways to protect your wallet from malicious activities.
Use a reliable password manager
One of the best security tactics is to use a reliable password manager to store and retrieve your code. This code gives access to your crypto wallet. This help you to get rid from the worry to forget the private keys and being locked out of your wallet.
Download a VPN
A Virtual Private Network (VPN) is another way to keep the security intact. A VPN helps to encrypt the online connection, blocking hackers from monitoring the crypto exchanges. This ensures to keep the identity of the traders anonymous.
Use two wallets
It will be best to use two wallets as you can keep a small amount of crypto currency in your online wallet and rest can be kept in offline mode. By doing so, if any malware intercepts your password then the rest of the funds can be safely stored away from the reach of the hackers.
Use two-factor authentication
Another best way to protect your crypto-wallet can be keeping two-factor authentication. This increases your security by keeping just an additional code. This code can be sent to your phone or email and is valid only for a limited time.
Update device software and antivirus
Regular device and software updates reduce the vulnerabilities. These updates keep the device safe from any type of malware attacks. So make sure to install updates as soon they are available with no further delay.
Crypto currency is attempted to be almost 100% foolproof still cybercriminals act on and take advantage of savers who are overly trusting. While enjoying the benefits of crypto-owners, remember the security risks that might make your wallet volatile. So, make sure to employ the right security measures to avoid any security breaches. This will help to improve the online security and protect your wallet.