6 WAYS YOU CAN PROTECT YOUR CRYPTOS ONLINE
Today, it is not uncommon to hear about internet scams involving individuals losing money as well as their data. This threat is growing at an unprecedented pace as malicious characters are using a variety of software and techniques to defraud victims and harm them financially.
As cryptocurrency usage is on the rise, criminals are now turning their attention to this decentralized currency. This trend is visible in the growing statistics as digital currency valued at more than $4.4 billion was stolen in the first three quarters of 2019.
Criminals use an array of techniques to defraud their victims. In this article, we highlight practices that will help you avoid these pitfalls and secure your experience as you venture into the cryptosphere.
- Create Quirky And Strong Passwords
It may come as a surprise, but a majority of internet users employ weak passwords. What’s more, they use the same password liberally to access multiple accounts. According to a Google survey, 65% of individuals used the same password to access several, if not all, of their online accounts.
This can be rectified by creating distinct passwords for different activities. Also, ensure that your password’s length falls between 8–12 characters, and it utilizes a mix of alphabets, numbers, and special characters.
2. Employ Unique Email IDs
After passwords, another common practice followed is the use of the same email address to create multiple accounts. This convention makes the miscreant’s job easy as they are now able to narrow down on the user’s identity and target the victim on different platforms. One practical and sure-shot way to avoid this shortcoming is by creating multiple email ids, each with a specific use-case. For example, you can create one email account to manage your everyday communication, while another email id to register and trade on BitcoinBlink.
3. Setup 2FA For Extra Security
A strong password is a great thing to possess, but it can also become your undoing if it gets leaked. Hence, it is a good idea to avoid having a single point of failure. This is where two-factor authentication (2FA_ will prove handy. This method applies an additional security layer to online credentials by prompting users to re-verify their identity using an alternate medium such as a One-Time Password (OTP) or a biometric input.
Setting up a 2FA is relatively easy as most platforms are incorporating and advocating this functionality. Google Authenticator is another phenomenal application that is both easy to set up and use.
4. Stay Alert For Phishing Scams
This step does not involve any major technology but instead relies on social hacks employed by the scammer. Through impersonation, criminals can manipulate users and force them to reveal their sensitive information such as passwords and other credentials. Common tactics used include fake emails, phone calls, giveaways, etc.
Many platforms advise their users that they will never contact them regarding sharing their personal information. In case you have come across a similar situation, it is wise to report the wrongdoer to the organization or corporation.
5. Steer Away From Imposter Platforms
Hackers are becoming creative in the way they approach their victims. One ploy employed involves setting up websites or applications that replicate the original platform. This way, the user is tricked into sharing their credentials unknowingly.
A great way to see through such schemes is by verifying if the website’s URL is written correctly, and it uses the HTTPS protocol. In case of an app, check if the publisher has been verified.
6. Don’t Use Public Networks Or Devices
Another common mistake that most users do is utilizing public networks or devices to relay sensitive information. For example, using the airport’s wireless network to complete banking transactions and other financial activities. Doing so, the user becomes susceptible to man-in-the-middle attacks, where the hacker steals vital details such as the user’s banking credentials. The same can be said about public devices, such as computers in the library or cafe. Here, hackers can install software like keyloggers to track user activities and extract their sensitive information.
The best and only way to avoid this pitfall is by simply avoiding the use of public wifi networks or public devices. Instead, rely on your personal devices and cellular network to execute transactions when traveling.
By following the above steps, you can enhance your digital security and protect your cryptocurrency funds as well as data against hackers. BitcoinBlink takes the user’s security and well-being very seriously. Therefore, on our exchange platform, we have incorporated a variety of security features that promise a safe and secure experience. It should also be mentioned that the BitcoinBlink exchange has no incidences of hacking, and we regularly audit the platform to identify and address security risks.
To learn more about the BitcoinBlink platform and to register, visit the official website.
