The theft of funds in the cryptocurrency market is a concern that will continue to be a problem for quite a long time. The number of victims has grown almost every year. However, with the advancement of technology, we are able to pursue certain ways to prevent criminals from being a part of the Bitcoin network. To get the best results, you should be sure to follow the security rules. This is why experts suggest the use of a reliable and secure cryptocurrency exchange for all your transactions. Below are five ways you can secure your Bitcoin wallet from theft online.
1- Avoid Logging In At Public Places
In contrast to your Twitter or Facebook account and Twitter accounts, your Bitcoin wallet is directly linked to your account to your money. So, it is important to be careful not to do anything that could make you regret it for a long time. You can limit the possibility of someone gaining access to your digital wallet without authorization by staying away from the public internet, such as cyber cafes. It is essential to know the programs running on these computers. Thus, accessing your Bitcoin account through shared computers can result in immense losses should someone take your private keys. Make sure you use your device to access the Bitcoin wallet.
2- Don’t Tell Anyone Your Login Credentials
A lot of people lost millions in Bitcoins due to a lack of trust. Be aware that you should not give anyone your login details regardless of how you are sure of their trust. The only exceptions are when you are business partners with cryptocurrency who manage an account on the same basis. And this security measure spares anyone or even the employees from Bitcoin exchange companies that you trade with. If a legitimate official from your exchange site calls you to inquire about your username or password do not divulge any information. This way, you’ll be able to increase the security of your wallet for cryptocurrency and protect your cash.
3- Be Careful With the Links You Open
Be aware that not all messages that land in your inbox are genuine players. They could be from fraudsters somewhere, planning an elaborate theft. Just as we’ve mentioned previously, the gadget that you are using for managing your Bitcoin wallet must be specifically designed and maintained with care. Be wary of links that look unfamiliar as some may install harmful spyware programs that duplicate your passwords and transmit your passwords to hackers. It is possible for this to happen without your noticing anything.
4- Choose Trustworthy Bitcoin Exchanges
The other security measures you take could be useless If you’re Bitcoin trading system is compromised. The most reliable cryptocurrency trading platforms have implemented various anti-fraud measures to safeguard your investments. This also applies to the electronic wallet that you are using to fill your trading account using fiat currency.
5- Make sure your device is protected by using the most robust Antivirus Products
First of all, does your computer or phone come with antivirus software? If not, make an effort to buy one and install it right away. We don’t mean just any program. Make sure you research the most effective Antivirus applications available currently. A good antivirus will destroy any malware that is introduced to your device, without your knowledge. This will reduce the chance that your wallet’s secret key never reaches malicious ones.
Summary
You are the person accountable for the security and security of your Bitcoin wallet. Your actions could make your Bitcoin wallet inaccessible or even more vulnerable. You can guarantee maximum security by not logging into your wallet’s digital account using computers that are shared. Also, do not give your login information to anyone else, avoid following untrusted links, and trading only through safe Bitcoin exchanges and install reliable security software for your device.