Hello everyone, how are you doing? , I welcome you once again to my blog in this community, and here I come again with some crypto rules to help secure your crypto assets.
The cryptocurrency channel nowadays is filled with people who are trying to rob your accumulations, or trying to hack their way into your assets, then steal everything away, reason due to the fact that cryptocurrency is a decentralized platform, and hackers' identification is not revealed and there's no way of getting your assets back after the theft.
Beneath are the following approaches to use in Securing Your Crypto Assets, happy Reading!!.
Here are the six guidelines to help you keep your cryptocurrency safe. Don't fall victim to crypto theft.
1.Not your keys, not your coins.
What i mean by this is to never leave your coins on centralized platforms or exchanges. Due to exploits, hacks, and poor business management, many people have lost their coins as a result of these services, try as much as possible to keep your cryptocurrency on a decentralized exchange rather, and the keys are to be protected at all costs.
2. Make use of Hardware Wallet: - Using a hardware wallet keeps your keys safe and secure from theft. Your key is only kept on the hardware and is NEVER exposed to the internet. Ledger and GridPlus are popular examples of hardware wallets.
3. Seed Phrase Security :
Never save your seed phrase on the internet. It is best to keep your keys in a physical device such as a hard drive or you could simply write it on paper. These items will not fade, or burn.
4. Using Several Addresses: - This is also another method of securing your assets, you could Keep your primary savings separate from your regular activities, such as airdrop hunting and yield farming. You can reduce the impact of a contract being exploited by creating multiple addresses - you only lose what is on that address, not everything you have.
5. Cancel Token Approvals: - To reduce the risk of being exploited, you can revoke token approvals using Etherscan. This disables a contract's ability to move your cryptocurrency. When gas prices are low, it's a good idea to revoke approvals.
6.Multifactor Authentication Exchange:
Enable MFA on exchanges to add an extra layer of security and keep your coins safe from theft. If you use SMS for verification, make sure your phone number is locked with your provider so that it cannot be transferred, or you can as well make use of the Google Authentication app.
The article above contain tips and guidelines crypto users need to ensure to keep their assets safe from tricks or theft.
Cryptocurrency is end-to-end encrypted whereby its security is safe and can not be bypassed by outsiders but this system is only much applicable on the decentralized exchange whereby you are in control of your assets and you ensure as much as possible to keep your seed phrase secure in a safe ledger or a ledger.
Thank you all for coming, I hope you were able to learn a thing from this article, See you next time!.