Our assets are easy to access anywhere at any time with the help of the internet. Thanks to the inventions of the digital era! But, hackers and other prying eyes take advantage by piercing through the networks to steal lumps of money!
Centralized giant servers are always at risk, and they are under surveillance round the clock with data protection officers of the concern. Still, countable scams are happening around the globe at millions. Crypto money is the desire of many counterfeiters nowadays trying to leverage the centralized asset value, and they target centralized multi-cryptocurrency wallets.
The hackers target upon centralized crypto exchange servers to steal the different kinds of crypto assets from one place! So, in this blog, let’s discuss some of the security measures to be followed in a crypto wallet!
But, what’s a cryptocurrency wallet?
Deals are not yet complete; it’s not about just purchasing a crypto asset from an exchange. You must store and access them from a secure, personalized crypto wallet so that you are in safe hands at your own risk.
A cryptocurrency wallet is a virtual crypto money holder that can be utilized to store and process crypto assets like BTC, ETH, LTC, and others. It’s the necessary tool for all the crypto coin holders. Many centralized and decentralized exchanges provide multi-cryptocurrency wallets for their verified users. But, remember you’re under the roof of surveillance and centralized authority!
Then, what’s the best practice to maintain your crypto coins? Go for customized white-label cryptocurrency wallets! Here’re some standard security instructions to be followed in maintaining a crypto wallet!
Security Mandates to be followed in Crypto wallets!
Public and Private Keys must under your control!
Cryptocurrency wallets hold public and private keys, just like our email addresses and passwords. Without any need, do not share even your public keys to strangers over the web. Even though people could not access your crypto wallets without private keys, secure your public keys too from an unauthorized person.
Keep your private keys only in mind! Never store them on internet-accessible devices or some papers. Once your private keys are gone, your crypto money should be searched only on air!
Have a spare passcode!
Instead of just believing in private keys, pick the crypto wallets with multi-factor authentication of your choice. You can enable one-time passcodes through messages, calls, and emails for additional authentication.
Even if your private keys are exposed, a hacker requires additional information to pierce through your crypto wallets, thereby reducing your risks.
Spread your crypto assets!
You can store only small amounts of crypto coins in centralized or internet-connected devices and the rest in cold storage wallets like paper, USB, or personal desktops.
In recent trends, you can also invest your crypto money in lending platforms with smart contract deals and interest of your choice with peers. Instead of just holding your crypto coins in wallets, you can earn with them. But lower your risks by spreading your crypto coins to distinct borrowers!
Hackers are not targeting on your personalized cryptocurrency wallets until you’re a billionaire with crypto assets. But, they do watch centralized crypto exchanges all the time. Hence, store your crypto assets in customized crypto wallets with minimal coins and the rest in cold storage.
To know more about the customization of cryptocurrency wallets, do ping us on chat!