Use Strong Passwords
When you’re creating a digital wallet, you’ll have to set a password, and it has to be strong. If someone guesses your password, they can access your entire crypto portfolio and send your assets to another address – an irreversible process. To make sure your password is strong, you should use a random sequence of letters, numbers, capitals, and special characters. In most cases, you can reset your password because it’s just a means of accessing the wallet platform, so don’t worry about forgetting it – security is key.
Consider Open-Source Wallets
Open-source wallets are often non-custodial wallets, but they tend to be more secure than mainstream options. With an open source crypto wallet, the original code is completely transparent, which means it can be improved on and scanned for errors by anyone. In most cases, the security features of an open-source crypto wallet are much stronger.
Always Update Software
If you’re using a mobile or desktop wallet, you should always make sure you have the latest version of the app or software. If you fail to keep up to date, your crypto wallet becomes more susceptible to security threats, which can deplete your funds in some cases.
Choose a Reputable Wallet
There are countless crypto wallet providers out there, but that doesn’t mean they’re all good. As with any purchasing choice, you should make sure that you only use a wallet from a reputable provider. A great way to do this is by checking several “The Best X Crypto Wallet” articles and customer reviews.
Learn to Identify Scams
Where there’s money, there are scammers, and the crypto world is no different. If you’re ever contacted by anyone asking for your private keys or other personal details, you should cease replying and investigate. The best way to find out if it’s authentic is to check with the business that’s supposedly contacting you. However, in the majority of cases, a crypto wallet provider will never contact you asking for personal details.
Be Careful on Public WiFi
If you’re accessing your crypto assets using a public WiFi connection, you need to be extremely careful. Given these servers are accessible by anyone, there could be hackers waiting to steal your sensitive information. If you don’t have any other way to accept your funds, then you should always use a VPN (virtual private network), which will mask your IP and prevent hackers from stealing your information.
Crypto wallets are extremely secure by nature, but you still need to practice logic and security methods to retain sole access to your assets. Make sure you only use reputable providers, set strong passwords, never send personal details or keys to strangers or “businesses”, and make sure you practice caution when using public WiFi.
