The transactions of cryptocurrency are based on blockchain technology, making it extremely difficult to hack the information. Even though there is always a threat above the security of digital wallets. A digital wallet is where the cryptocurrencies are stored.
How To Keep Your Cryptocurrency Wallet Secure?
Obviously, you cannot store them physically. So the digital wallets contain the private key for every crypto address saved in the wallet. Thus, it’s very important to keep your digital wallets safe and secure. Read on this article till the end to know the smart ways to keep your cryptocurrency wallets secure.
What are the criteria to select the wallet?
If you need to use any type of cryptocurrencies like Bitcoin or Ethereum, then you should have a digital wallet. Cryptocurrencies are stored in a wallet with a lot of information like security private keys to access the cryptocurrency addresses and carry out transactions. Before learning about the ways to keep your digital wallet secure, let’s look at the criteria for selecting the best wallet.
- Private keys control: a wallet where your keys are protected.
- Backup and security features through seed backup keys and pin codes
- Active development community for maintenance
- Easy to use
- Compatible with the various operating system
- A wallet that creates addresses its own
- A wallet that doesn’t requires KYC
Now let’s look at some must-have wallets to keep your cryptocurrencies secure. They are
An Atomic wallet is available for all major operating systems like Windows, Mac, and Linux. It offers a wide range of features such as decentralized storage to private keys. The unique property of the atomic wallet is the support of atomic swaps. The atomic wallet has an actively growing user base and it’s a solution for the privacy problems of your cryptocurrencies.
Keepkey is a new hardware wallet that comes with a standard, simple to use client UI. The main advantage of using this hardware wallet is that it is more susceptible to hacking and drops.
Ledger Nano S
Ledger Nano S is a very popular hardware wallet because of its low price compared to other hardware wallets. It is smaller than KeepKey, so it’s portable.
What are the ways to keep your cryptocurrency wallet secure?
- Use antivirus software on your desktop.
- Use the latest version of the wallet software.
- Install a strong and secure firewall.
- Beware of phishing emails. Make sure that the emails contain proper addresses and correct domain names.
- Be cautious while using Wi-fi(especially public Wi-fi).
- Check the address of the sender twice before sending him the payment.
- Check if there is any SSL security mark in the address window of your web browser.
- Keep your password hard to guess or brute-force.
- Turn off the auto-updating option.
- Opt for multiple signatures. It is a process in which a particular transaction has to get approval from multiple persons.
- Don’t forget your password and the password should be very strong.
- Encrypt your Bitcoin wallet. It adds an extra layer of security.
A crypto wallet not only stores the track of encryption keys used to digitally sign transactions, but it also stores the address on the blockchain. If the owner loses that address, he would lose all his control over the digital money. So did you understand the importance of keeping the crypto wallet safe and secure now?
Above given are the tips to make the wallet secure and some must-have wallets to keep your cryptocurrencies secure. We hope that you all liked this article and found it useful. Please let us know your comments and queries through the comment section given below and we will try our best to reach out to you.