Seven tips to protect privacy of your cryptocurrency operations

Started by lokdown, Jul 21, 2022, 12:30 AM

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lokdownTopic starter

Crypto currencies are becoming more and more popular and there are no ways to take back. Sometimes we see some difficulties with Bitcoin and all other cryptocurrencies, but people still tend to acquire them for the purpose of investment and personal using. They are becoming an integral part of our lives and now it will not be superfluous to think about security and privacy.

The famous Coincheck heist of half a billion dollars made everyone return the issue of security in the crypto industry as priority.

We risk losing our money due to the strong volatility of cryptocurrencies, but the lack of security of storage is much more dangerous. We recommend that you think about how to store assets before you buy them.

How to protect confidential data when dealing with crypto currency:

   1. Don't use the same address twice. Change of address takes a matter of seconds with each new transaction and is free, but reliable.

   2. Create a new mail for cryptocurrencies. When hаcking a personal or corporate mailbox, hаckers will not get access to information related to finances. We recommend using encrypted emails.

  3.  Do not connect to public Wi-Fi. Such networks are often attacked by hаckers, so you can easily get compromised.

   4. Connect to the network via VPN during transactions. Free services will not provide the desired level of security, so it is better to use  not free programs.

   5. Choose wallets with two-factor authentication so that no one can access your account using your username and password.
    Protect your computer with premium antivirus software and set up a firewall.

   6. For more protection, download Tor browser and connect via VPN.

   7. The advice may seem banal, but many people continue to store keys codes on the Internet. Do not do this, because hаckers will easily find your passwords even in the Movies folder or encrypted file. The best choice is safe deposit box.


These tips seem elementary, but can help save money for crypto users.

I remember there was already such case with the Italian exchange BitGrail. Many of my acquaintances who traded on that exchange were left with no money.
Therefore, most people began to change addresses to avoid hаcking.


The tips are really very helpful and simple. I liked the last tip 7 the most, where the author says that he is banal. I completely agree with the author - this is trite. You will laugh, but I really save my key codes on the Internet, I have a bloknotik where I save them because I'm too lazy to use a pen ...) After reading the article, I will develop the habit of not leaving my passwords on the Internet anymore. The article was very helpful for me. The author tried! Big thanks. I use tips


How to protect your account.
If you have registered on an exchange or other service for trading, use standard methods to protect your account, online banking account and other confidential information.
It is quite simple to ensure the security of your account and funds:
Use a strong password and change it regularly. The password must not contain identifiable personal information, such as your date of birth. Come up with a long password specifically for this account and add characters, numbers, lowercase and uppercase letters to it.
Enable two-factor authentication (2FA). If your password is compromised, 2FA in a mobile device, authentication application or YubiKey will serve as the second level of protection. When logging in, use both a password and two-factor authentication.
Beware of phishing attacks and fraud by email, social networks and personal messages. Scammers often impersonate exchanges and proxies

How to securely store cryptocurrency.
After buying a cryptocurrency and protecting your account, it is important to put it in a safe place.
If you do not plan to leave the cryptocurrency on the exchange for further trading, you need to use a wallet. Wallets differ in the ownership rights of private keys and Internet connection, and the choice between them depends on the security level that suits you.


From personal experience, I can still offer the following options:
  • Don't neglect two-factor authentication. If the site offers, then use it. If he offers, then leave this test.
  • Use identity verification apps like Google Authenticator.
  • Check the list of devices from which you log in or try to log into your account.
The main thing is not to be lazy to write passwords on paper. This is sometimes difficult to do right away, but it is useful from a security point of view.