Cryptocurrencies and NFTs are no longer niche products limited to a few techies. But along with mainstream crypto games adoption comes risk. In this post on how to protect your crypto, we’ll look at a few real-world examples of how to make it harder for hackers to steal from you.
Crypto has plenty of critics, but its ascendancy as a key asset class cannot be denied. In 2021 the total value of the crypto industry topped $3,000,000,000,000 — three TRILLION dollars.
The American bandit Willie Sutton was once asked why he robbed banks. His answer was simple: “Because that’s where the money is!” And like banks, crypto has become a target for scammers, hackers and online thieves who attempt to access and syphon investments from the people who hold them.
While recovery might be difficult for the unfortunate victims of these cyber-villains, prevention and protection involves some commonsense and simple precautions, and in this article we’ll share with you some quick and easy tips that do a lot to boost your wallet security and help protect your hard-earned crypto and NFT investments.
Use strong passwords and use different passwords for wallets and trading accounts
While this sounds pretty simple, a lot of people seem to still underestimate the power of passwords… and even use the same password in almost all of their accounts. According to a report by Security Magazine, 53% of online users use the same password for all of their online accounts.
This poses a huge vulnerability threat as hackers only need to guess or crack one password in order to gain access to all of your online assets.
Remembering passwords is tricky, especially complicated passwords, but there are tools that help you automate them. Offline software such as KeePass help you generate and even remember strong passwords for various online accounts, and since it’s hardware and not stored in any online database, it provides a healthy degree of security from anyone trying to access your account remotely.
If you’re the type to access stuff on the go though, online password services like Keeper, NordPass and LastPass are also available. Some of the features will require an online subscription, but they do make it possible to create passwords that are much, much harder for hackers to break. Regardless of what you pick though, the core idea is that you should use strong, complex and different passwords for all of your accounts to help deter hackers and prevent loss of assets.
Site Title 