One of the biggest worries for some crypto users or those considering investing in crypto is security. It’s hard to feel like your money is protected when you can’t see it. If you have a couple of £20 notes in your wallet, you know where they are, and you know they are safe. However, when it comes to crypto coins, you don’t physically have your money, so how do you know it is safe?
You could ask the same question about the money in your bank I suppose? You can’t see the money in your account, but you believe the technology and the bank that tells you it is in there. It’s the same for crypto coins. You can log in with your private key to gain access to your crypto coins and see how much you have.
So how can you keep your crypto coins safe? Here are our top security tips for your crypto wallet.
• Just like you wouldn’t put all your eggs in one basket, don’t put all your crypto coins in one wallet either. Have a selection of different wallets where your crypto coins are stored. You may want to consider a cold storage or cold wallet for some of your crypto coins too. This will offer an extra layer of security.
• Your access to your crypto coins is through your mobile device, so make sure you keep it safe and be careful with it. Just as you wouldn’t leave your traditional banking app open, or your physical wallet on the pub table, don’t leave your crypto wallet open either.
• Just as you back up your computer and any technology, make sure you back up your wallets too. This will help to ensure that any updates or fixes have been updated so your wallet and your crypto coins are as safe as they can be.
• Keep your eyes peeled for suspicious emails, app requests and potential phishing scams. You will never be asked for your private key, so you do not need to give it to anyone. Think of it like your PIN for your bank card. It is not to be given away.
• Whenever you are sending payments make sure you double, and triple check the address that you are sending the crypto coins too. What makes cryptocurrencies so secure is that once a transfer has gone through, it cannot be reversed. Make sure you send the payment to the right person.
These are just our top security tips for your crypto wallet. If you would like to hear more tips and advice for keeping your crypto safe, contact us at email@example.com. We will be happy to share any security advice and tips with you or answer any queries you might have.