Crypto hack is nothing new. Over the years, crypto exchanges have been the victims of illicit hackers that has led to losses in millions. Here is a brief on some of the most high-profile hacks that shook the crypto world in recent times:
The worst sufferers of these hacks are the crypto investors or traders themselves. Your safety is your responsibility and you have to take pro-active steps to keep your assets safe from hackers. The post below offers some pro security tips for all crypto users.
Be careful of secured storage
It’s better to store your digital assets in some offline cold wallet. Fewer tokens you place online, fewer are the risks of them getting hacked. Your wallet should be locked properly while you are not using it. The private keys must be kept offline, away from wallet. You can keep the keys in some bank safe for safety. Another tip here would be to implement multi passphrases on wallet which will help to hide the balance of primary wallet.
Experts have also advised to follow multisignature practices for wallet hands.
Choose exchange wisely
This is certainly one of the most important points to consider while it comes to the security of your crypto assets. Look for an exchange which stores maximum of the crypto funds in cold wallet. Decoin exchange is a good example here as it stores 97% of its crypto funds in cold wallet. Although the remaining 3% is stored in hot wallet for easy liquidity yet those are backed by insurance. Also don’t sore your entire crypto asset portfolio in your exchange. Limit the amount to what will be specifically required for exchange and trading.
Besides, always settle with a licensed and regulated exchange which is extremely careful about advanced security practices on its portal.
Double-check wallet address
According to market experts, a crypto wallet user should always double-check wallet address when he pastes it. You should follow the same precaution when you supply the address through chat or email or via any form of digital communication.
Try to avoid discussing about your crypto ventures in public forums, especially online public forums. You never know who is lurking behind the camouflage of a new-found friend on these forums.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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