THECRYPTO.WATCH – Prevention is better than having it stolen, that’s what every investor cryptocurrency should do. They are trying to find ways to secure crypto wallets from hackers who try to break into crypto and NFT storage.
Usually, when creating a crypto and NFT wallet, you will be given a private key. The key is a series of 12 words. It is from this series of words that hackers can break into crypto. Then how to secure crypto? Follow the reviews below.
How to Secure Crypto Wallet
Giving a private key is not a guarantee that it can protect a crypto wallet from hacker attacks. Because anyone and anytime, hackers can transfer funds. Therefore, it is very important to secure the private key. Here ‘s ways to secure a crypto wallet.
Understanding cryptocurrency wallets
It is very important to understand cryptocurrency wallets. There are two kinds of crypto wallet, they are custodial wallets and non-custodial wallets. The function of a crypto is almost the same as a normal wallet, which is to store digital currency.
If you use a non-custodial wallet, the owner is fully responsible for remembering the private key as well as making sure the steps to use it yourself. If the owner forgets the password, it will automatically not be able to access the crypto currency anymore.
The custodial wallet uses a third party to control the password. For example, crypto exchanges such as coinbase, Kraken, and so on. if they buy crypto through a platform, usually they will get an IOU. Meanwhile, the platform will have its own private key and store it in their wallet.
How to protect a cryptocurrency wallet
The next step that can be taken is to be aware of the fraudulent mode through exchanging mobile phone SIM cards. Not a few hackers contact the cryptocurrency owner to make sure they transfer the owner’s phone number to their SIM. Therefore, it is best not to use SMS to ensure crypto.
Those are two ways to secure crypto wallets from hackers. You can also use a Yubikey, which is a key for USB hardware that can be plugged into the device. Keep in mind for all crypto wallet owners, do not use the same password across all their accounts.
