Bitcoin and other cryptocurrencies are becoming more popular and valuable, but they are also attracting the attention of hackers and scammers who want to steal your coins. That’s why it’s important to know how to protect your digital assets and prevent them from being lost or stolen. In this post, we’ll give you some tips for securing your Bitcoins and crypto wallets.

Don’t put all your crypto assets in one place

One of the basic rules of investing is not to put all your eggs in one basket, that is, to diversify your portfolio, and this rule can be used in the case of storing cryptocurrencies. This means that you don’t keep all your Bitcoins and cryptocurrencies in one place, but spread them across multiple wallets, platforms and devices. This will reduce the risk of losing everything if it gets hacked, broken or lost.

For example, you can use different types of wallets, such as online wallets, mobile wallets, desktop wallets, hardware wallets, and paper wallets. Each type of wallet has its advantages and disadvantages, so it is good to familiarize yourself with them and choose the ones that best suit your needs and habits. Also, you can use multiple platforms to buy, sell and store your cryptocurrencies, such as Binance¹, ZenGo² and Huobi³. However, make sure you only use trusted and secure platforms that have good reputations and reviews.

Be careful with your mobile devices and computers

Your mobile devices and computers are the gateway to your Bitcoins and crypto wallets, so it’s important to protect them from unauthorized access, viruses and malware. Here are some tips on how to do it:

• Lock your devices with a password, PIN, fingerprint or facial recognition.
• Do not download unverified applications, files and attachments from suspicious sources.
• Use an antivirus and antimalware program and update it regularly.
• Do not open suspicious links, messages and e-mails that ask you to enter your information, passwords or private keys.
• Do not use public WiFi networks to access your wallets and platforms, as they may be insecure and vulnerable to attacks.
• Back up your wallets and private keys to a safe place, such as an external drive, USB stick, paper or metal.

Service security

Service security refers to the security of the platform or service that allows you to buy, sell, exchange or store your Bitcoins and cryptocurrencies. It can be an online wallet, exchange, broker, bank or other institution. Service security is important because if the service is hacked, crashed, or misused, you could lose your digital assets.

Here are some tips to improve service security:

• Use only verified and reliable services that have a good reputation and reviews.
• Check whether the service has adequate protection measures, such as encryption, security protocols, audits, insurance, etc.
• Check if the service has a transparent and fair policy in case of loss or theft of your property, as well as the possibility of return or compensation.
• Check if the service has customer support and contact information in case of problems or questions.
• Don’t leave too much Bitcoins and cryptocurrencies on a service you don’t control, but transfer them to your private wallet that has your private key.

Back up your wallets

Backing up your wallets is the process of saving your private keys and your wallet data in a safe place, so that you can restore your digital assets in the event of loss or theft. Backing up your wallets is one of the most important steps to secure your Bitcoins and cryptocurrencies, because without it you can lose access to your assets forever.

Here are some tips to back up your wallets:

• Back up your private keys and wallet data to multiple locations, such as an external drive, USB stick, paper, metal, cloud or other devices.
• Store the backup copy in a safe and secret place, away from fire, water, moisture, magnets, sunlight and other factors that can damage or destroy your backup copy.
• Do not share your backup copy with anyone, as you risk losing control of your digital assets.
• Check and update your backup regularly, especially if you add new wallets or change your data.

Beware of phishing scams

Phishing scams are attempts by scammers to trick you into giving them your information, passwords or private keys by sending you fake emails, messages, links or websites that appear to come from legitimate sources, such as your wallets, platforms , banks or other institutions. The goal of phishing scams is to steal your Bitcoins and cryptocurrencies or trick you into depositing money into their accounts.

Here are some tips to protect yourself from phishing scams:

• Double check the destination address before sending your Bitcoins or Cryptocurrencies, because if you make a mistake, you will not be able to recover your assets. Also, be careful not to copy a fake address that has been inserted into your clipboard by a hacker or virus.
• Use URL locking, which is a feature that allows you to lock the URL of your wallet or platform, so you can’t be redirected to a fake website. You can use extensions for your browser that offer this feature, such as MetaMask or EAL.
• Use the HTTPS protocol, which indicates that the website is secure and encrypted, and check for a green padlock in the address bar. If you see a red cross or a warning, it means that the website is not secure and may be fake or compromised.

Use strong and unique passwords

Passwords are your first line of defense against hackers and fraudsters, so it’s important to make them strong and unique. Strong passwords are those that are long, complex, and contain a variety of characters, such as letters, numbers, and symbols. Unique passwords are ones you don’t use for other services, wallets or platforms.

Here are some tips for creating strong and unique passwords:

• Use a password generator, which can create a random and secure password for you, such as LastPass or 1Password.
• Use a password manager that can help you remember and organize your passwords, such as Dashlane or KeePass.
• Do not use obvious or easily guessed passwords, such as your name, date of birth, phone number, favorite athlete or similar.
• Do not use the same password for multiple wallets, platforms or services, because if one of them is hacked, all your passwords will be compromised.
• Change your passwords regularly, especially if you suspect they have been exposed or stolen.

Enable two-factor authentication

Two-factor authentication (2FA) is an extra layer of security that requires you to enter not only your password, but also another factor, such as a code, PIN, fingerprint, or token, sent to your phone, email, or other device . This prevents someone from getting into your wallet or platform even if they have your password, because they need another factor that only you have.

Here are some tips on how to enable and use 2FA:

• Enable 2FA on all your wallets, platforms and services that offer you this option, as it is one of the best ways to protect your digital assets.
• Use 2FA apps, which generate codes or tokens for you on your phone or other device, such as Google Authenticator or Authy.
• Do not use SMS or email for 2FA, as they can be intercepted, hacked or misused by hackers or fraudsters.
• Keep your 2FA security codes or keys in a safe place, as they can help you regain access to your wallet or platform if you lose or damage your phone or other device.

Keep your software up to date

Software refers to the program or application you use to access your wallets, platforms or services. The software is regularly updated by the developer to improve its functionality, security and performance. Updating software is important because it allows you to use the latest and greatest features, as well as to fix possible errors, omissions or vulnerabilities.

Here are some tips to keep your software up to date:

• Check if there is a new version of the software you are using and install it as soon as possible, as this can prevent you from being a victim of hacking, theft or fraud.
• Use automatic update, which allows the software to update itself when a new version is available, without your intervention. You can enable this option in the software or device settings. (Of course you should take care that a hacker does not control the update on your device)
• Do not use outdated or unsupported software, because it may be insecure, unstable or incompatible with your wallets, platforms or services. or malware

Suspicious emails and websites

Suspicious emails and websites are those that send you or direct you to fraudulent or malicious content, which aims to trick you, steal your information, passwords or private keys, or trick you into depositing money into their accounts. These emails and websites may appear to come from your wallets, platforms, banks or other institutions, but are actually fakes using similar or identical names, logos, designs or domains.

Here are some tips to identify and avoid suspicious emails and websites:

• Don’t open anything that looks suspicious, unfamiliar or unwanted, no matter how tempting or urgent it is.
• Do not trust emails or websites that promise you unrealistic or excessive rewards, refunds, bonuses or discounts, as these are usually scams that want you to pay money or provide your information.
• Do not believe emails or websites that threaten you with fines, blocking, confiscation or loss of your property if you do not do something in a short time, because these are usually blackmails that want to make you panic and make a mistake.
• Do not trust emails or websites that ask you to enter your information, passwords or private keys, as these are usually phishing attempts to steal your digital assets.
• Check the sender, address, grammar, spelling and logic of the email or website, as these may be signs of fraudulent or malicious content.
• Check reviews, reputation and security of an email or website, using tools such as VirusTotal, Scamadviser or Trustpilot.

Public WiFi Vulnerability

Public WiFi can be available in public places, such as cafes, restaurants, hotels, airports or parks. Public WiFi is useful when you don’t have access to your private or home network, but it can also be dangerous for your digital security and privacy.

Here are some tips to protect yourself from public WiFi vulnerabilities:

• Do not use a public WiFi network to access your wallets, platforms or services, as it may be insecure and vulnerable to attacks such as man-in-the-middle, sniffing, spoofing or hijacking.
• Use a VPN (virtual private network), which allows you to create a secure and encrypted connection between your device and the Internet, so that your data, passwords and private keys cannot be intercepted, hacked or stolen. You can use VPN apps, such as NordVPN, ExpressVPN or CyberGhost.
• Use the HTTPS protocol, which indicates that the website is secure and encrypted, and check for a green padlock in the address bar. If you see a red cross or a warning, it means that the website is not secure and may be fake or compromised.
• Use a firewall, which allows you to block unwanted or suspicious connections, as well as protect your device from viruses, malware and other threats. You can use the built-in firewall on your device or install an additional program, such as ZoneAlarm or Comodo.

Malware and keyloggers

Malware is short for malicious software, which means a malicious or harmful program that can damage, slow down or take control of your device, data, passwords or private keys. Malware can be a virus, trojan, worm, spyware, ransomware or adware. A keylogger is a type of malware that records everything you type on your keyboard, including your data, passwords or private keys, and sends them to a hacker or scammer.

Here are some tips to protect yourself from malware and keyloggers:

• Do not download unverified, suspicious or illegal programs, files or attachments from the Internet, as they may be infected with malware or keyloggers.
• Use an antivirus and antimalware program, which can help you detect, remove and prevent malware and keyloggers on your device. You can use programs like Avast, Kaspersky or Malwarebytes.
• Use the virtual keyboard, which allows you to enter your data, passwords or private keys using the mouse instead of the keyboard. This will prevent your data from being recorded by keyloggers. You can use the built-in virtual keyboard on your device or install an additional application, such as Oxynger KeyShield or Neo’s SafeKeys.

Right now the Internet and crypto space is full of scammers and I hope you learned something new and useful about how to secure your Bitcoins and crypto wallets.