A No-Nonsense Approach For Protecting Your Crypto Investment Online
The thought of losing anything grips the soul and uneases the mind.
Sadly, within the cryptospace, tenacious efforts to hamper the livelihood of community members are particularly common.
Hackers tirelessly scour the space to find any vulnerabilities within security features to ruin the lives of millions.
A couple of days ago, as was reported, the community was hit by a curveball of great proportions: Amazon's DNS servers were hijacked and users were unknowingly redirected to a phishing site, resulting in funds being stolen, leaving the space at a standstill, paranoid, and subsequently questioning the security features available across the community.
Allow this to stand as an educational reminder for why you must take a multifaceted approach to securing your fortune.
But what should you do?
The answer is simple: traders and investors often understand the importance of not keeping their eggs (money) in one basket. This scheme should be implemented in security.
#1 SPREAD OUT EVERYTHING
You should not keep your crypto on one exchange nor in one wallet. Spread everything out. Have multiple wallets, ledgers, email addresses, passwords, etc. Assume your phone number is already hacked. So don't use SMS (text) authentication. Instead, always use 2-factor. Google Authenticator is the app of choice for most.
#2 WRITE DOWN PRIVATE KEYS OFFLINE
WRITE DOWN private keys and passphrases. DO NOT store in your photo album, notes, or anywhere online. Of course, some may complain of the expenses and time involved with such an approach, but why mind nominal expenses and a few extra minutes of time when each measure intends to protect the portfolio you have tirelessly built?
#3 AVOID MULTIPLE DEVICES
Additionally, avoid trading from multiple devices. Trading on your phone, multiple computers, what have you, creates tremendous risk, in that you are more likely to be compromised. You should avoid using your phone to access exchanges at all cost.
#4 CHANGE YOUR PASSWORDS REGULARLY
Also, as it pertains to passwords, attempt to make a routine out of changing your passwords every few months, or even take the step of changing everything once a month.
Thanks for reading. I hope you find this guide helpful. You can make your own input by dropping a comment.
I remain your crypto friend,
@maicodon
Source: Coin_Sage Telegram Channel