Cryptocurrency

Did you know a lot of people have lost Bitcoins worth in tens of thousands of Dollars which could have been prevented by proper safety precautions? Because of popularity, you need to focus on security measures to keep your wallets and investment portfolios safe. Think of it, if you have a weak link in your crypto security, it wouldn’t take much to hack the wallet and move your assets.

Once you leave your wallet open and vulnerable, you’re essentially inviting “crypto thieves” to come take what you have. Chances are you may never recover your lost funds. We have outlined some best practices that can actually keep your cryptocurrency safe.

TRY OUT THIS SIMPLE EXERCISE TO MEASURE THE SECURITY OF YOUR CRYPTO WALLET: 

1. Check Your Operating System: Are you using secured O.S. like UNIX and Linux to make transactions?

2.Do Not Leave Your Assets on Loose Security System: Does your system have updated antivirus and firewalls?

3.Strong Password Guidelines: Check your password length. It should be extra strong with a minimum of fifteen characters.

4.Use 2-factor authentication (2FA) on all exchanges: Is ‘2-Factor Authentication’ enabled in your mobile to authenticate your login?

5.Be careful when sending assets to other addresses: Are you using data encryption techniques to secure your wallet? You can use Cryptsetup or LUKS encryption apps to encrypt your data.

6.Backup your wallets: Do you have the backup of your data? Always keep the backup either on a thumb drive, colocation server or encryption based file servers like mega or external hard disks.

7.Store your assets in a wallet that you control the keys to: Keep your core and multi-coin Wallets separately. Have a structured process to manage your daily crypto expenses, trades, and usage.

This 10-minute exercise will help you to clearly outline the security standard of your crypto-currency wallet. If you are not following these points yet, consider it now and include it in your to-do list to secure and safe your cryptocurrency.

If you want a professional comprehensive security wall for your web assets, speak with our ICT consultants at news@ictechnology.com.au and get a customized cost-effective solution. For further questions that you may want to discuss you can drop us in the comment section, we will get back to you ASAP.

For more Information on Cryptocurrency Security Guide‘ or more tech-tips or help around cyber-attacks, call us at 1300 123 428.  Stay tuned to our Facebook, LinkedIn page for more updates.

Written by Ibrahim Massri
Ibrahim Massri is General Manager at ICTechnology, an IT services provider based in NSW. He has more than 9 years of rich experience in IT management services. Working since 2010, he has expertise in project management, business strategy, business development, Microsoft Office solution selling, and software related projects. He loves to pen down new industry insights and his experience in this field to help solve challenges related to IT issues.
BOOK 30 MINUTES FREE BUSINESS SOLUTION