How to protect cryptocurrency in 2023
Cryptocurrency prices are rising, so many investors are buying Bitcoins for the first time. But, while investors see this as a great opportunity, fraudsters see these new users as easy prey. While there are a few pitfalls to avoid when investing in cryptocurrency, keeping your funds safe certainly ranks first on the list of priorities.
Of course, no security method is 100% effective, but you can take advantage of the most convenient to increase the reliability and security of transactions. We recommend testing innovative mixing service https://yomix.io with a minimum commission. Using private cryptocurrencies will no longer be necessary because, with this platform, Bitcoin will be completely anonymous.
Use two-factor authentication for your exchanger
Every time you buy a cryptocurrency for the first time, it’s in an exchange account. If someone accesses your account, this intruder can display your cryptocurrency to an address in your purse. One of the most straightforward solutions you can do is to ensure you are safely buying cryptocurrency.
Afterward, you should enable two-factor authentication (2FA) to withdraw money to the application exchanger. If you do not have 2FA enabled, you must rely entirely on the security of your email address and password to protect your cryptocurrency.
Withdraw your cryptocurrency
Cryptocurrency exchanges often hold millions of dollars in cash. Such a large amount of cash mining leads them to lose their anonymity. One way to avoid this potentially destructive threat is to withdraw the cryptocurrency.
If you want to get your Bitcoins, you should install your wallet and set it up on your computer. After that, you will need to give such a task to your exchanger as sending cryptocurrency to a new wallet address.
Back up source words correctly
You downloaded the software for your wallet and started its configuration. You will soon find that you must back up all the original words you have used. If you need to know the source word, our article will tell you about it. This is a set of initial terms: “secret phrase for recovery» or «master key.» It is a series of words that you can use to retrieve all of your account keys cryptographically.
If you back up your original words, you will retain access to all your coins when your device crashes. You should write those words on a physical piece of paper and store them in a safe place where you cannot destroy them.
Avoid public Wi-Fi
Sometimes, you may need to connect to the Internet while away from home. Then, free public Wi-Fi in a restaurant or cafe is an attractive solution. However, we advise you to avoid using open public Wi-Fi when you are doing Bitcoin transactions. When you use an available public Internet, other people nearby can easily intercept your Internet traffic using Wireshark or similar tools.
Not that it won’t help them steal your Bitcoins, but they may notice that you are making costly transactions or simply analyzing cryptocurrency sites. We’re sure you need more attention.
The cryptocurrency market is still evolving with each passing day as more users upload their wallets to join networks for the first time. However, this increase in activity also increases the likelihood that any exchange or investment office may be compromised.
After that, you will receive your personal information, such as your real name, address, and phone number. Wallet and mixer protection will help keep users’ privacy.