Withcrypto companies and which are considered “stable” securing your remaining wallet is more important than ever.
The current crypto crash is not the only way people are losing their money. There was onethat give thieves access to your crypto accounts and assets. Most recently in May, after the actor connected his crypto wallet to a fraudulent website claiming to be a credible NFT project.
Protecting your crypto means taking some of the same steps you would use to protect your other digital accounts, such as. However, crypto accounts have unique features such as that require additional security. Additionally, the crypto industry remains necessary for the if they are stolen.
In this story, we’ll cover several ways to protect your cryptocurrency and NFTs from theft and explain why it’s worth taking the time to properly secure your digital assets from theft. To learn more about crypto, check outand the latest details on .
Always follow these two basic password security rules
One of the easiest ways to protect your digital assets is to. Ideally, you want your passwords to be and include uppercase letters, numbers, and other random special characters. If you can make your password longer, however, you should, because the longer the password, the harder it is to crack, in theory.
If you’re worried about remembering all your long, complicated, and unique passwords,, making it simple and secure to store and use your passwords from one place. We recommend choosing a password manager with encrypted storage and for more security.
Also, when creating an account, never repeat your passwords. If one of your accounts is compromised, your others will also be at risk.
Use a hardware crypto wallet for your most valuable assets
Yourserves as a gateway to your crypto assets. “Hot” wallets such as software or mobile apps work online, while . Crypto wallets don’t contain the actual coins or tokens – they store the private keys that prove you own your crypto assets and allow you to buy, sell, or trade on blockchains.
Whenever you buy cryptocurrency or NFTs, they have to be stored somewhere. Most people keep their assets in aor a marketplace, like Coinbase or MetaMask, because they’re free and easy to use, but for your most valuable holdings, you might want to consider a physical wallet.
A hardware, or cold, wallet allows you to store cryptocurrency and NFTs on a physical disk, which you can connect to a computer to access. Hardware wallets are generally more difficult to hack, so they are a preferred option when storing digital assets of particularly high value.
Here is more about the.
Keep your crypto wallet seed phrase safe and offline
In addition to a password, most crypto wallets use a seed phrase for added security. This seed phrase acts as a master password and is created each time you set up a new wallet. A seed phrase is 12 or 24 words that you can use to log into your account on other devices, or recover your account if you forget your password.
While this seed phrase provides additional security, it also comes with risks – anyone who learns your seed phrase could potentially steal all the crypto assets stored in your wallet. Although you may be tempted to store your seed phrase somewhere online, writing it down – offline – is crucial to prevent anyone from accessing it.
Once you’ve written your seed phrase, store it in a safe or vault, so no one else has easy access to it. Hardware tools that specialize in seed phrases, such as Cryptosteel and Crypt Keeper, can safely store your 12 or 24 words in a fire- and flood-protected portable system.
If your seed phrase is lost or stolen, but you still know your password, immediately log into your wallet and generate a brand new seed phrase.
Beware of Direct Message Scams on Discord
Discord is one of the unofficial home of the crypto and NFT communities. This is where many crypto enthusiasts go to discuss upcoming NFT projects, cryptocurrency prices, real life events, and even personal life. Fans of NFT projects use Discord to form communities – but that’s also where hackers and thieves go to compromise accounts.
Here’s how it works: A hacker can message you directly, claiming to be part of a project you’re following and interested in. The DM looks official and generally claims that you can create a hard-to-get NFT for a relatively cheap price. price, and includes a link to follow. But when you click on the link, connect your wallet and attempt to buy the NFT, your wallet is emptied of all your NFTs and crypto. And there’s really no way to get it all back.
The most important research you can do to avoid falling into the trap of a fake NFT website is to use verified channels to find the right website when trying to create or purchase a newly created NFT. Even if you receive a link from what appears to be a credible source, use several online sources like Google, Twitter, and Opensea to verify that you have the correct URL for the project.
An even easier way to avoid falling for a scam is to disable DMs on Discord. On your mobile device, launch the Discord app, press your profile picture bottom right, go to Privacy and Securityand disable Allow direct messages from server members. You will no longer receive direct messages on Discord.
Don’t fall for Twitter support scams
Like Discord, Twitter is a hunting ground for hackers looking to scam unsuspecting victims into giving away their assets.
On Twitter, whenever someone mentions “stolen account”, “lost password” or even “MetaMask”, an army of hackers can respond, offering to help recover stolen assets or restore access to accounts. Hackers can then request your seed phrase via DM and use it to steal your crypto or NFTs.
If you need help, go directly to the official customer service site on Twitter. Never give your seed phrase to anyone, even if an account is verified – sometimes hackers get access to verified accounts. And never share your screen.
To learn more about the security of cryptocurrencies, discoverand .