How to Secure Your Crypto Wallet in 2020

When you’re dealing with an entirely digital asset like cryptocurrency, you want to be sure that you’re protecting your wallet digitally, too. This might seem like a no-brainer to the digital-savvy consumer who maintains a crypto wallet, but there are actually a number of vulnerabilities that you may not be aware of when you’re using digital currencies across your online life.

In this short article, you’ll learn how to better protect your crypto wallet and its assets. In doing so, you’ll be able to trade online without worrying about the security of your assets.

Password Protection

In many security circles, the humble password is slowly being revealed as a fairly insecure way of getting access to your assets. Indeed, it just takes one scammer to ask you to type your password into their website or program in order for them to have an intimate chunk of data, with which they may be able to access a number of your digital assets. As you’ll know, a password can be the gateway into your email account, from which you manage your digital assets, so a password’s protection is rarely enough to protect your digital wallet.

Two-Factor Authentication

As such, all crypto wallets — and digital assets generally — should be protected by a deeper layer of security than just a password alone. In security circles, this is often called ‘two-factor authentication’. Instead of simply typing in a username and password, you’ll also be requested to use a different form of ID, like your phone number or an element of your biometric data. With this additional layer of security installed, your crypto wallet will be far more difficult to breach, which means cybercriminals will give your digital profile a miss in favor of easier targets.

Software

Meanwhile, there are a number of software solutions on the market to help you protect not just your computer, but all of the endpoints connected with you and your digital system. These might include your phone, your tablet, your printer, and your smart home devices.

All of these constitute weak points in your cybersecurity which leading firms like www.mcafee.com have provided updated, next-generation software to protect. It’s your responsibility to download and onboard these cybersecurity solutions to ensure that your digital assets are protected by the world’s leading cybersecurity offerings, enabling you to trade online free from stress.

Personal Behavior

As well as using new technologies and software packages to help you get more secure, there’s an element of behavior that comes into conversations about digital asset protection. If, for instance, you give out your passwords to loved ones, you’re more likely to experience theft or a cyberthreats on your devices. The same goes for those who store their passwords digitally on their computers, or who are happy to leave their digital profiles signed in on communal computers. You should police all these behaviors and more if you’re to offer your digital assets the protection that they deserve.

Use these four tips to help you build out a more robust security blanket for all of your digital assets, especially your valuable crypto wallet investments.