Security is complex when dealing with the Internet and even a personal computer. But when you’re using the Internet for banking or holding currency, security becomes even more complex. Hacking and ransomware have been developed to help circumvent security measures and effectively steal your assets.
Even using the Luno crypto wallet, you’ll need to make sure that you take the right measures to properly secure your digital wallet.
It takes time and effort to secure a crypto wallet. Here some of the best practices.
1. Choose Wallets That Have Encryption
Encryption is the ultimate protection online, and crypto wallets are no exception. If your private key isn’t properly encrypted, or not encrypted at all, it makes it much easier for a hacker to access your information. There are wallets offering state-of-the-art encryption that will protect all of your private keys and data from insider hacking.
You want to examine your wallet’s security measures and ensure that the company offering the wallet is offering the best security to keep all of your crypto assets safe.
2. Make Sure You Start Using Cold Storage Solutions
You might trust some of your money in a world-class wallet, but many experts agree that more needs to be done to protect your currency. What’s recommended is that you start using a cold storage solution, too.
Cold storage is what you’ll want to use to keep all of the currency that you’re not using for trading.
Think of this as your traditional savings account, but in this case, you’re saving all of your tokens in a medium that can be kept offline. A lot of users will keep this on a flash drive or other long-lasting medium.
With cold storage, you’ll have access to your wallet even if the wallet provider goes down.
Think of cold storage as just another safeguard that will keep your tokens safe – even from hacking, which has been seen with some major wallet providers. No one, unless they have physical access to your wallet, will be able to hack into it.
For anyone that has a lot of crypto tokens stashed away, cold storage is a smart solution to keep your tokens 100% safe from potential online attacks.
3. Protect Against Basic Attacks
Basic attacks are going to be a major concern. Why? These are the simplest attacks, and they work on far too many people. These attacks will include:
- Leaving open access to your computer or smartphone so someone can steal your currency.
- Falling for phishing scams and going to infected websites.
You’ll want to double-check the website address when logging into your wallet online to make sure that you’re not going to a hacked website.
Keeping your phone or PC updated will help, but you’ll also want to keep the latest virus scanner and malware scanner on your computer. The last thing you want to do is give access to your wallet on accident.
Malware and viruses are almost completely avoidable if you install basic software and never browse websites that may be compromised.