For some, cryptocurrencies are a temporary phenomenon, for others a welcome opportunity to speculate on profits, and still, others see it as a new era of the global economy and social standards. Regardless of where you position yourself, whoever buys and holds cryptocurrencies should urgently worry about the security of their IT. Why? Well, you alone control your balance. But this also means that someone who has access to certain information can withdraw this control. In some cases, this loss of control is even deliberate. Because if you transfer cryptocurrencies to an exchange, for example, you give up full control and rely on the goodwill and IT security of the respective trading center. We would like to provide you with a guide
Back up your data. If you use a software wallet, you need a backup of the relevant files. A backup means that there are at least TWO backup copies of the relevant data records. These should be stored externally and ideally in two different locations. Whether CD, DVD, or USB stick, that’s up to you. The same applies to private keys, 2FA QR codes, and Menomic Seeds. You may not process this data electronically at all, as it is usually unencrypted. Print out, outsource, be happy.
As you saw in point two, there is data that is encrypted and data that can be stored unencrypted. Can, but shouldn’t. If it can be encrypted, encrypt it too. This applies in particular to software wallets that must first be secured with a password so that they are encrypted. The private keys that you have hidden under your bed can also be encrypted. Simply swap certain letters and burglars will have a harder time than finding the document in plain text.
A great many hacks focus on guessing passwords. It’s not difficult at all. You may be thinking: “D3iNeMu1! ErstiNktNACHKÄSE is safe?” No, it is not. Especially with constructions that are based on words, programs and specialists have it very easy. The above example is much more creative than many a combination of various names and dates of birth of family members, but not an obstacle. If you have difficulty creating a good mix of upper and lower case letters, numbers, and special characters, you can still use a password generator. From 20 characters upwards, it becomes increasingly difficult and costs an attacker a lot of time. Also, make sure that they don’t always use the same password.
Did you do it? After a long period of trading, your portfolio will crack the 1000 BTC mark. Nice, we look forward to you. However, your luck may give other people strange thoughts. You are your own bank and must therefore ensure the necessary security yourself. If a robber arrives – as drastic as that may sound at first – you have the choice. Bitcoin or Life? So that it doesn’t come to that, it is advisable to only share the knowledge of your wealth with people who are important to you and who are also close to you. Not everything has to be shared on social media. The same applies to passwords and backups as well as their storage. Sure, your wife should know where everything is. Just in case something happens to you, right?
Everything has its time and place. This also applies to accounts on the Internet. Most users have more than one email address anyway and it is recommended that you create at least one additional address that will only be used for activities associated with cryptocurrencies. You will be surprised where all the spam suddenly comes from and how little is partially captured by the filters. Treat yourself to a break from princes from Wakanda who need your help with a transaction or ladies from the Eastern Bloc who wants to marry who only need a little bit of bitcoin to be with you tomorrow. Aside from that, you also separate your identity from your traditional activities to some extent and that provides at least a little anonymity.
One or the other may already know it. You have found a new altcoin in a relevant forum and you are sure that this technology will change everything. So, install the wallet, and off you go! Many users have already installed a virus and thus put themselves in trouble. Be careful with everything. But how do you then want to take part in such projects without taking the full risk? On the one hand, you could buy a cheap second computer just for such projects. In this case, it may be malware, but the data on the main computer used is safe. Anyone who is a little more technically experienced can install another system via a virtual machine. Then it stays with a computer but the new software cannot easily break out and directly access sensitive information. This subject area also includes hardware wallets, which make it more difficult for attackers to get your hard-earned coins. These products are relatively affordable and anyone with a portfolio should think about purchasing them.
Trusting a VPN provider is difficult for one or the other. In any case, it is advisable not to leave your mark on every place on the web. A VPN connection can help you not to be directly recognized by others. It can be enough for you to start a node and signal to the entire network where you are and what you are doing. If you want more anonymity towards strangers, you should think about a VPN.
Be careful with all offers
It is important to look closely at who or what they are getting into. Scammers try to get their money. And that is also very easy to understand somewhere. Once the cryptocurrency is gone, those affected can no longer take it. Even the state can do little to change that. So find out more about a provider. No matter what their product is, it could be a scam. Take your time to research. Is it a company? Where is it based, does it have an entry in the register? Is the provider’s domain also registered in his name or is it anonymous hosting? Just a few clues provide information about whether you can trust the provider.