With cryptocurrency, both power and responsibility are taken on by the owner. A few simple actions can ensure that your security is up to date, to secure you and your profit.
A hard wallet is an offline device used to store your cryptocurrency. We explain all about wallets in our knowledge base, but we’ll talk about some tricks for securing it that you might not have considered.
Ledger’s data security wasn’t as secure as their product design. They have sold over several hundred thousand units, despite this flaw.
Ledger Inc. was hacked in July 2020, which resulted in stolen customer information. Furthermore, they misled their customers by not being up front when they first announced the hack. This made customers even more frustrated as they thought they were in danger of targeted attacks.
A lot of people aren’t too worried about being randomly hacked, but it does make sense that some of the customers were scared.
Ledgers can be used to improve security. However, people who buy Ledgers should be aware of an aspect of security vulnerability: sharing their address. The fix is to use a delivery box address if you buy a Ledger.
A guide to keeping your crypto safe from theft
Gmail, one of the most well-known email providers, has added this new feature.
Google will now provide a notification when a password has been found as part of a data breach. In December 2018, a leak containing more than 66 million passwords from 161 data breaches was released on a hacking forum. If you re-use your password on various sites, this information can be damaging to your account.
There are services you can use to find out if your email address has been hacked. One of the most well known is HaveIbeenPwned.
To keep your account safe, always check email addresses for important accounts registered with a crypto service or financial institution against known hacks.
If you read this, you should know the most important Bitcoin maxim to keep in mind. The issue with taking responsibility for your private keys is that it can be difficult to remember 64 characters since it is a key to every address you hold.
Your seed phrase should be backed up so that you don’t lose it. Your wallet generates private keys from one seed phrase and without this, you can’t access any of your coins.
You are looking for something offline and durable. Sheet metal is durable but high-quality because of it being offline.
A customizable metal version of your seed phrase can be created in a number of minutes with easy to use kits. The instructions are easy to follow and Jameson Lopp has created a Guide to recommending the best option available.
For less than €40, you can sleep easy knowing your Seed Phrase is safe. The company carves it in a solid steel cube, so that it is safe from anyone who may try and steal it.
How to use unique email addresses to prevent hacking
One of the biggest beginner mistakes in crypto is to re-use email addresses and passwords. This greatly increases the attack surface for your crypto because some random site you signed up with – for a reason that probably escapes you – can easily get hacked, exposing credentials from something more important.
It may be a little inconvenient to create different accounts, but it is worth the effort. Not only does this protect your email and social media accounts, it also helps you maintain privacy online.