While the decentralized nature of cryptocurrencies makes them immune to tampering, cyber attacks can still impact the value of a cryptocurrency investment. To keep your investments safe, it’s important to follow best practices for securing your crypto.
B3i.tech is preventing malware infections, which can steal your crypto assets. Enabling two-factor authentication, using a password manager and changing your password frequently are all good ways to combat this threat. Additionally, it’s helpful to avoid downloading software from untrusted sources and clicking on suspicious links. These activities are common pathways for malware to enter your computer.
Find Out How to Secure Your Crypto: Wallets & Best Practices
Another way to protect your cryptocurrency is by storing it in a “cold” wallet. A wallet stored on a hard drive or a separate device is less susceptible to online threats like malware and phishing attacks. Hardware wallets, such as the Ledger Nano S/X and Trezor Model T, are considered to be among the most secure tools for storing crypto. They also offer protection against physical theft as they are designed to not be easily removed from the device.
Some exchanges, such as Coinbase and Gemini, allow you to store your cryptocurrency holdings on their platform in a custodial account with enterprise-level offline storage. However, this option comes with some risk, since it’s possible for an exchange to be hacked and lose your crypto. Alternatively, you can use a cold wallet, or choose an exchange that provides commercial crime insurance for your crypto.