how to keep your cryptocurrency safe – best practices
The nftreats launch date is getting closer. Only a few days left till we go online. We can’t even begin to tell you how excited we are for all of you to see what we’ve been working on so hard these past few months.
Since one of our long-term company goals is to help crypto-newbies get set up within the space, we wanted to take the opportunity to give some advice on how to safeguard your cryptocurrency and make sure you’re taking precautions to protect yourself from hackers or losing access to your wallet(s).
We know that security is a big concern for people who are just starting to explore crypto and blockchain, but actually, most of the security measures you have to keep in mind are very standard procedures you should also keep follow when doing traditional online banking transactions and affairs.
1. Use Secure Internet
Just like with doing traditional online banking, avoid public wifi connections when you are making transactions. Additionally, install a VPN client on your laptop. A VPN changes your IP address and location, keeping your browsing activity safe and private from threat actors.
Some VPNs you could use are CyberGhost or ExpressVPN.
2. Use a hardware wallet (cold wallet)
A cold wallet is not connected to the internet and therefore stands a far lesser risk of being compromised. It’s backed by security experts and keeps your private keys offline, so your crypto is inaccessible to anyone but the holder of specific access codes. Some good cold wallets you can get are Trezor or Ledger.
3. Maintain Multiple Wallets
Wallets are created really easily and quickly and there is no limit on how many wallets you can have. Take advantage and diversify your cryptocurrency. Use one wallet for your daily transactions and keep the rest in a separate wallet. This will protect your portfolio and mitigate the loss of any breach to your crypto account.
4. Change Your Password Regularly & Keep Them Organised
This goes without saying. Make sure you have a strong and complex password, which is difficult to guess and change it on a regular basis. We recommend using a password generator. Keep your passwords organised somewhere in a safe, locked location on your computer and physically.
5. Be aware of phishing scams
Avoid any suspicious and unknown links in documents via emails. These mails are designed to trick you into revealing sensitive information to the attacker.
IMPORTANT: If you get asked to reveal your seed phrase via email – it’s a scam. You will never have to reveal your seed phrase to anyone.
6. Join a trustworthy crypto community
Crypto is all about community and peer to peer communication and transactions. If you are just starting to navigate your way through the blockchain world, we highly recommend getting involved with the communities of the projects you are invested in. If it’s a good project, people will be very willing to help you out if you have any concerns or questions. Most crypto communities are active on telegram and discord. Join the nftreats discord and telegram and talk directly to the project’s team, artists, collectors, crypto enthusiasts and investors from all over the world!