Although blockchain is known for being an extremely secure technology, cryptocurrency wallets are prime targets for hackers. Several solutions exist to secure your currencies quickly.
Blockchain technology has given cryptocurrencies a reputation of being secure currencies. The media are constantly talking about the theft of virtual currency, sometimes at an alarming rate. These thefts usually occur through transfers or simply by trapping the owner. While attacks may be difficult because of the decentralization of blockchain, it is still possible to attack holders of these currencies.
If you're using an online crypto exchange, it is possible that you don't actually have your coins at the protocol-level. The platform holds your funds as well as the keys to transfer them. If you want to withdraw the currency you ask the exchange for a transaction.
These services are all online, so it is possible for a third party to disrupt the transfer. It is possible to transfer crypto-currencies from your computer to the USB keys or hard drives that are designated for this purpose. Last but not least, the sheet paper is still a good security measure. But be careful not to tear it. A list of easy ways to protect your crypto-currencies.
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The Hot Wallet :
Downloading an app on your smartphone is the easiest way to get it. The services are easy to use and can be used every day. You can scan an address using a QR code, which makes it easier to transfer data faster. Many of the apps are free and some security plans can be purchased at a reasonable price.
These apps combine online and offline storage to protect users' wallets. The most secure solutions are generally the ones that offer the latest tenors in crypto.
You should also be aware that applications' keys and wallets are often connected to the Internet, making them more susceptible to hackers. This is not recommended for large amounts.
Some recommended apps: Coinbase, Binance, ZenGo, Trust Wallet, Exodus, Ku Coin, MetaMask, Dwallet.
The Cold Wallet :
A cold wallet can be described as a physical wallet that is completely offline and stores currencies. It is usually a USB key. These tools are not connected, making them less vulnerable to attacks than secure applications. While there may be panic on a platform, currencies can remain hot on the key. To provide additional security, some companies offer an encrypted wallet. This is the best solution if the value of the assets you have to store is very high.
To verify that the Cold Wallet is the true owner of the currency at origin, each transaction requires a signature. It takes a bit longer to exchange currencies than apps. A key costs around 100 euros.
However, your funds will not be refunded if your device is lost. Your credentials could be stolen at any time, so make sure you take all precautions.
Some recommended brands: Ledger, Trezor, coolwallet.
The Paper Wallet :
Cryptocurrency offers many ways to store money that were unimaginable just a few years ago. To store your currency, you can actually print an address. To receive transactions, the QR Code on the sheet can be used. Because it is not connected with the internet, this wallet is considered highly secure.
You will need to visit a website that generates a random key to make the famous wallet. The most famous are bitcoinpaperwallet.com Where bitaddress.org. To create a new address, click on the "Generate New Address" (or "Generate Key Print Paper Wallets") tab.
You must complete an application to transfer your crypto again.
Use a complex password
Although it seems like a sensible suggestion, we often forget that hackers are most interested in crypto wallets. There are many ways that cybercriminals can get your passcode back. For example, a brute force attack uses software to attempt as many combinations as possible before finding the right one. The most important criterion is the length of the password. You can choose a sentence for example like "Jaimelatartealapomme". Then sprinkle numbers and signs, and it gives "JaIm3latartealap0mm%". This password is difficult to crack.
Enable two-factor authentication
Double authentication should be included in any wallet you choose. Double authentication adds an additional layer of security to your funds. It requires verification before you can perform certain operations such as login, withdrawals, or remittances. If someone attempts to access your wallet, you will be notified immediately. Most online wallets provide double authentication. These tips will ensure that your currencies are secure. It is up to you to avoid falling for phishing emails by hackers.