Topic: How do I keep my cryptocurrency safe? - page 2. (Read 1396 times)

In this digital world, mobile phones, hard drives, laptop’s, wallets are convenient repositories but nowadays this isn’t sufficient. It’s of vital importance
to secure your crypto wallet hard for keeping your assets safe.

Here are some of the best tips to keep your crypto assets safe and secure.

1. Securing a Wallet is similar to securing your personal data on the computer. You have to be aware of links, advertisement, any type of attachment
etc. which appears when a browser is being suffered.

2. Always create backups of your cryptocurrency wallets. So, that it will let you restore your wallet if in case your laptop or cell phone gets stolen.

3. Opening an account to buy cryptocurrency? Set up a unique E-mail id that you’re going to use for that account and never share that id with anyone.

4. Encrypt your whole device in which you are going to use cryptocurrency wallet. Make sure you have the best anti-virus installed on your device and
keep it up to date including anti-malware and anti-ransomware.

5. Set up a really hard and long password where it is only able to recover from a piece of paper that you control.

To continue

Nothing comes with a 100% guarantee of Security, not even the PAID security tools. But certainly, the tips below will get you enough close to the mark and hope, this may help you.

1. Securing a Wallet is similar to securing your personal data on the computer. You have to be aware of links, advertisement, any type of attachment etc. which appears when a browser is being suffered.

2. Always create backups of your cryptocurrency wallets. So, that it will let you restore your wallet if in case your laptop or cell phone gets stolen.

3. Opening an account to buy cryptocurrency? Set up a unique E-mail id that you’re going to use for that account and never share that id with anyone.

4. Encrypt your whole device in which you are going to use cryptocurrency wallet. Make sure you have the best anti-virus installed on your device and keep it up to date including anti-malware and anti-ransomware.

5. Set up a really hard and long password where it is only able to recover from a piece of paper that you control.

6. Don’t use two-factor authentication on an SMS that could be ported. Instead, using something a bit more like Google Authenticator or yubikey would be much better.

7. Never share the name of cryptocurrency or wallet which you use on social media or with unknown people, Keep it private.

8. Diversify your risk, Buy cryptocurrency across multiple exchanges. So, that in case if one exchange is hacked other will remain accessible.

9. Always use offline wallets.

10. Always use the cold wallet to keep cryptocurrency safe off the internet and cold wallet is like the saving account. While the hot wallet is linked to the internet and should only be used for everyday transactions.

11. The decentralized system doesn’t store funds. Nobody has any access to money accept the owner of that money.

https://cointopper.com/guides/how-to-save-your-cryptocurrency-assets-from-being-hacked-in-2018

I'm confused. Why would you not create and store your wallet on your computer? There are a number of ways of safeguarding your keys. This way your information cannot be reached by the government.

I wouldn't advise this for cheating on your taxes - but if you live in a country where you are trying to squirrel away funds in case of a future catastrophe then why store them on an exchange which can be confiscated, or put in peril, by your government?

If you are trader, you can store your asset in some big exchange (Binance, Bittrex) and don't forget to enable 2FA Authenicator. Else, you want invest and hold your coins, i suggest you buy a Ledger nano (cold wallet) to store your asset, keep Private key in a safe place

This topic entitled "Trust No One" gives some helpful information on how to keep your cryptocurrency secure : https://bitcointalksearch.org/topic/trust-no-one-33835. If you don't want to read through that whole topic, the title is a nice summary of the content.

Use metamask extension so that your private keys will be protected when you are using dex or decentralized exchanges,never give your keys to anyone or any website,buy hardwallets trezor or ledger would do ,add 2fa with your email and keep your recovery seed and private key in a safe place so that you these hackers wont any good chance of stealing your money.

Well, there are actually many ways to keep one's cryptocurrency safe, and it all lies or mostly the one that plays a big role is the wallet. There are wallets that have amazing features that are really helpful when it comes to making the coins safe and I would definitely suggest to use those kinds of wallets to be more safe.

There is even crypto exchange new projects addressing these security issues. LCCX is a crypto exchange that will be keeping most of users funds in cold storages and will be fully regulated by the UK' Financial Conduct Authority (FCA) - by doing so it aims to become the world’s most reliable crypto exchange, here is their ICO (till 04/30) description: https://icorating.com/analytics/basic/lccx-basic-review/:
"The project will provide the facility to place 60-75% of client funds offline in cold storage (storing assets on separate offline physical media)."

Well this is true but if you plan to sell an alt-coin quickly (if the price rises) it's easier to keep them on an exchange and set a sell order than transfer them to a wallet on your computer.

You are totally wrong. Never keep your coins on exchange. Exchange is easily hack-able. From my view exchange is very un safe place. So please don't advice any one to hold the coins on exchanges. My kind advice is go for Hardware wallet. It is safe.

But yet they have been back door hacked by a 15 year old apparently.
https://arstechnica.com/information-technology/2018/03/a-tamper-proof-currency-wallet-just-got-trivially-backdoored-by-a-15-year-old/

Hi, I hope this will help. Find a wallet that you know have a lot of good reviews, for me it's myetherwallet. Then if you already have, don't give out to other people your private key. Save it or right it somewhere that no one can see it. Don't trust anyone. And never ever give your personal information or download anything suspicious to avoid being hacked.

I think the problem is safe to store the crypto is very difficult. In addition to personal protection measures like privacy. used for hardware is the best solution. but be careful and meticulous that is the main problem.

I find myself more comfortable and secure with hardware and cold storage wallet  because it can protect my currency from hackers and thief. Preferably ledger nano S or trezor can be used.

Hardwallets will be more secured when you are using metamask extension because it will prevent you to enter to phishing sites you will get prompt not to enter because the site is a potential scam,plus metamask extension adds up some extra layer or protection whenever you are using decentralized exchanges,you private keys will be encrypted inside the mask so that these phishing sites and hackers wont have any chance of getting your keys.

fully agree, the best is to keep your funds in different wallets/exchanges, nano s is one of the best option, check out this guide https://www.coininvestmentreview.com/best-bitcoin-wallets/ it provides up to date info on best wallets to store your bitcoins/altcoins

Hardware wallets haven't been hacked remotely yet. They're designed in such a way that private keys never leave the device, so it shouldn't matter if it has been plugged into the internet. That being said, they could be tampered with if a hacker gets their hand on it in person. They're 100% safe so far otherwise. This is why you should never trust hardware wallet resellers.

But yeah, paper wallets are a little inconvenient, but could be just as safe, if not safer, if set up correctly.

I would agree with this, I have been very impressed with the ledger nano s and its ease of use.

Also might seem obvious but ensure your computer is secure, up to date virus and malware protection. Never open and click on links within emails that you don't expect or look suspicious.

Even a ledger nano can get hacked into.

I haven't heard of anyone having their trezor getting hacked yet.
But it could probably happen too since it gets plugged into the internet at some point.

Best to just use a paperwallet.

Diversify your exchange platforms but also your wallets. This might apply a little more to someone who holds a large amount of different coins, and is tech savvy, after all managing your wallets is a skill that takes time to learn. Whatever a beginner might do, the main point should be to avoid the habit of leaving their currency on the actual exchange site. Learning coin ownership is a must, and it requires having an understanding of what an address really is and everything a transaction entails.

Paper wallet for optimal cold storage, for everything else a hardware wallet like a trezor or nano--then maybe a mobile wallet for convenience/liquidity--if necessary.