So you decided to get into cryptocurrency. But you are still trying to keep your assets in an area that only you can access them. We'll show you some ways on how to protect your Cryptocurrency Hardware Wallet. By following these steps, you'll find it easier to utilize your wallet while also keeping it safe from outside hackers, viruses, and other threats.
Have Multiple Backups
Safety and privacy is an illusion in the 21st century.
In the 21st century, we have backups of every piece of data possible. Whether it’s our photos, WhatsApp, documents, or music, everything that we have is stored somewhere for later usage. Why not have a backup for our digital currencies?
But backing up your crypto assets can be a tricky affair as you don’t want to trust any centralized cloud services to store your backup. And this is a disadvantage because your crypto assets can be stolen if the service is hacked.
Also cryptos like Ethereum, Bitcoin, Monero were designed to give the power back to the people. So placing them in a centralized storage area is a huge no-no.
That’s why you need to have an offline backup for your private keys and place them in an area that you trust. Also, if the Cryptocurrency Hardware Wallet is HD, then you should store your recovery seed in two or three different places that you know of.
You can improve the security of your hardware wallets by placing your mnemonic passphrase and phrase in multiple locations. This way the attacker is unable to access your wallet with just two pieces of information.
And, keep a backup of your PIN code, password, and username because the wallets will provide all three of these features. Just in case you forget these things, you’ll have a source to look back on if you need a backup.
Use the Safest Wallets Available
Using the best wallets available increases the chances of your assets remaining protected. These wallets will give you extra security features like the 2FA authentication, PIN code, and the passphrase feature.
The more security features your wallet has, the better it is at protecting your assets. And don’t forget the check the development team behind your wallet.
And if you want some recommendations of some reputable crypto wallets, here’s a list:
Apply Digital World Practices
In today's digital world there is malware, trojans, bots everywhere and the crypto world is no different. Since the majority of users have desktop wallets, mobile wallets, and web wallets it becomes important to have the strongest security practices to keep your assets safe in the digital world.
By following these steps, you can keep your crypto wallet safe and make it nearly impossible to hack.
As a crypto holder, you have to be proactive in staying secure. If you follow these three steps, you’ll have a fighting chance. Remember, cryptocurrency gives power to the average person, and with great power comes with great responsibility.
That’s why each of us need to learn and teach others how to protect our crypto assets from hackers. This will help the crypto revolution by keeping everyone informed while ensuring that their hardware crypto wallet will last them for years to come.