The downside of using cryptocurrency is the security risk that you have to
take care of when you are holding or trading any cryptocurrency. To help
manage this, we gathered some of the best practises for storing cryptocurrency
and keeping your coins safe from hackers and thieves.
The present article is all about how to secure your Bitcoin wallet or
crypto wallet. No matter how much Bitcoin or crypto you have stored in your
wallet, securing it is a priority. So today I bring you 13 simple and easy
steps to secure your crypto wallet.
How To secure Bitcoin Wallet or Crypto Wallet?
1. Set a powerful password.
This is one of the biggest factors responsible for a powerless account, and
that's why it's on the first position of the list. But the question is:
why?
The answer is simple: you are using the weakest password and the same
password everywhere. Remember, you are not the only one; there are millions of
people doing the same thing.
Let me show you how a non-technical person uses the password:
ex. 123456789, Bob12345, Bipinrai125, 1994john, Name, Pet Name, and so
on.
Just see those passwords? These are easy to guess; maybe it is difficult
for a human but not for software or top speed computers.
So how can you create a strong password?
While creating a password, do not use your name, pet name, or any other
word that is easy to guess. There are many words on your keyboard, and these
are free, so use them.
I will prescribe a password 16 or more characters long (especially for
the crypto wallet or for other crypto things) and must contain at least three
uppercase, lowercase, symbols, and numbers, ex. "@heRM!>/4duhe29l." This
type of password is much stronger than the above example.
If you think you can not guess this password, click here to generate a
strong password.
2. Use 2FA security.
If you have not enabled two-factor authentication (2FA), then do it right now.
This is high-level security provided by Google. 2FA is an extra layer of
security used to make sure that people trying to gain access to an online
account are who they say they are.
First, a user will enter their username and password. Then, instead of
immediately gaining access, they will be required to provide another piece of
information.
If a site you use only requires a password to get in and doesn’t offer
2FA, there’s an excellent chance that it will eventually be hacked. That
doesn’t mean that all 2FAs are the same.
There are several types of two-factor authentication that are in use today; some may be stronger or more complex than
others, but all offer better protection than passwords alone.
3. Set a mobile SMS alert (OTP).
We also know it as an OTP (one-time password). For this, set up your mobile
number with your Bitcoin or crypto wallet. But this feature is not available
in every Bitcoin or crypto wallet. Why? Because it involves international
service and an expensive cost, and some services do not accept international
service.
I do not recommend enabling this feature because the OTP coming to your
mobile number may be delayed, which causes trouble logging into your Bitcoin
wallet.
But if the wallet has this feature and accepts your country, then you
should enable it to increase the security level.
4. Use a personal email address.
This kind of understanding could protect you from hackers and unwanted links
coming to the email account that connects to your wallet.
Bitcoin and crypto users have lots of accounts on several websites, and
the result is that they are receiving lots of spam emails that contain
unwanted links that may affect their wallet security.
To avoid this kind of condition, use a personal or separate email
address for your Bitcoin and crypto wallets so you won't be confused about
which email notification is coming from your wallet.
If you have several accounts on a different website and want to know if
your data has been leaked or not, then click here to check the leaked data
information and password for your email by entering your email address.
5. Email Verification Alert.
This is a default feature of any website or Bitcoin wallet, but make sure you
have verified your email and enabled this feature in your Bitcoin wallet or
website so that every time you log in to your wallet (or do any activity), it
asks for verification.
By enabling this feature, you add an extra layer of protection to your
Bitcoin wallet, minimizing the risk of unauthorized access and potential
loss.
It acts as a gatekeeper, requiring you to verify your email address
before gaining access to your wallet or performing any activity that affects
your crypto.
6. Keep an eye on browser extensions.
Yes, I know browser extensions have become a part of the browser, especially
on laptops and PCs, but make sure you have given a little permission to your
installed extensions.
To bolster your protection, it is advisable to disable browser
extensions when not in use, particularly during sensitive tasks or work
sessions. Disabling extensions ensures they do not run actively in the
background, reducing the potential vulnerabilities they might introduce.
This step only require when you are using your wallet in PC browsers.
7. Keep private keys offline.
Almost all wallets (decentralized wallets) have this feature. In this feature,
the wallet gives you a few words (maybe 12–20 words) and says verify and write
it offline.
By verifying and writing down these keys offline, you ensure that even
if your device is stolen or lost (or accidentally uninstalled wallet), you can
recover them by entering the private keys.
So safeguard your offline private keys by implementing physical security
measures because private key only way to access your wallet.
8. Use a PIN lock. (In Mobile)
If you are using the Bitcoin
mobile wallet
app, then enable this feature and set a PIN code.
Setting a personal identification number (PIN) code, you can shield your
wallet not only from unauthorized access but also from individuals within your
social circle, including friends, family, and children.
When setting up your PIN lock, it is essential to choose a strong and
memorable PIN code. Avoid using easily guessable codes, such as your birthdate
or sequential numbers.
You can also use biometric authentication options, such as fingerprint
or facial recognition. These features, gives you an extra layer of security to
your wallet.
9. Use your own internet connection.
This is the easiest target for the hacker; no matter how much speed a public
internet connection gives you, always use your own secure connection.
Public internet connections, especially those found in cafes, airports,
and other public spaces, are hotspots for potential cyber attacks. Hackers can
exploit the weaknesses in these networks to gain unauthorized access to your
devices and intercept sensitive information.
Using secure internet connection, you can protect your Bitcoin wallet,
credit card information, and other vital personal details from falling into
the wrong hands.
10. Avoid unknown or suspicious links.
I will strongly suggest that you do not open or click on the suspicious link
that is coming into your email inbox.
Remember, the email you received looks normal, but it may contain a link
that can give them access to your bitcoin wallet when you click on it.
You can quickly identify potentially harmful messages. Here are a few
red flags to look out for: Unusual Senders and Email Addresses, Urgency and
Threats, Poor Grammar and Spelling, The Risk of Bitcoin Wallet Compromise,
Contain Unwanted Links.
When you see this type of email, change your email and Bitcoin wallet
password immediately.
If possible, transfer your money to another secure wallet.
11. Set Limits for Everyday Withdrawal.
This is a small step to increase the security of your Bitcoin wallet. By doing
so, you can set limits on transactions or withdrawals per month, week, and
day.
Setting limits for everyday withdrawal is a simple yet powerful measure
you can take to enhance the security of your valuable cryptocurrency
holdings.
So in case you lose control of your wallet, you are able to protect your
remaining bitcoin or other cryptos in it.
12. Delete cookie data.
This is an unseen threat. You have already noticed this when you visit the
website of something.
When you visit the website, it sends you a notification that says "This
website uses cookies," which means the website is storing a small amount of
data in a browser, so when you revisit the website, it will read browser
cookies, including the data of your Bitcoin wallet.
After logging in to your wallet, make sure you delete browser history
and cookie data so other websites will not read your browser history.
13. Use multi-signature if available.
The concept of a multi-signature has gained some popularity; it involves
approval from several people (say 3 to 5) for a transaction to take place.
Thus, this limits the threat of theft as a single controller or server
cannot carry out the transactions (i.e., sending bitcoins to an address or
withdrawing bitcoins).
The people who can transact are decided at the beginning, and when one
of them wants to spend or send bitcoins, they require others in the group to
approve the transaction. This features is not for you if you are just
tarding
Conclusion.
Before you deposit crypto in your wallet, make sure that you note down these
12 to 13 things so that your Bitcoins are safe.
Maybe some of the features given above are not available in your bitcoin
wallet. Or have other advanced security features, then enable all those
features to increase your wallet security, no matter how little or how much
bitcoin or crypto you have stored in your wallet.
I hope you learned how to secure your Bitcoin wallet or crypto wallet in
the right manner. So, get ready to use your crypto wallet with complete
security measures.