A Security Checklist For New Crypto Investors

For every Crypto investor, security played a crucial role, and also for the newcomers, the safety of the investment is very important. And for that safety, blockchain security has been introduced to make data secure and safe.

Introduction to Blockchain Security

Blockchain Security is one of the most important technology. It provides security to your data as well as comprehensive risk management for the blockchain network. While beginning your crypto investment journey, you must take care of some of the best crypto investment practices to keep your digital assets safe and secure.

The steps are very handy yet useful to keep your information private and safe. Steps such as being aware of online attacks, and using 2FA Authenticator.

Satoshi Nakamoto, the person who launched blockchain security 10 years ago, when he felt insecurity about the online cash currency bitcoin.

Let’s see all the important steps to prevent your information from getting hacked.

Avoid Fake Sites and Apps

Every newcomer who is a beginner investing in cryptocurrency needs to follow all the tips given by blockchain security for avoiding fake sites and apps.

If you are using any application or software and thinking to download it, then you must need to be sure that it is an authentic application.

And how would you do that?

Check its popularity and other indicators you know such as seeing the reviews, it should have authentic branding, a good number of visitors, popularity, number of downloads, etc. This may prevent you stay away from using fake websites and apps.

For any crypto website or app you are visiting, make sure it is legit.

Check Your Exchange Authentication via 2FA

You know that 2FA means Two-factor authentication. It is for your data security that provides the second layer of protection.

Before starting investing in any cryptocurrency one should create a new email address that is not related to your other email addresses. This means a dedicated email should be used with a unique password in which 2FA must be on. Once you make it on, it requires you to enter OTP and you must enable it for both login in and exchanging assets.

Avoid Social Engineering Scams & Online Attacks

Avoid scams like Phishing scams, you should take all the corrective action and efforts and follow the tips of the blockchain security network.

To avoid Phishing scams you should not open unwanted links that come on your email address, text message, phone calls, or the links pop on an advertisement or any other forms of communication channels. One of the simple measures is to avoid clicking on unwanted links to avoid phishing scams or other types of scams.

Wallet Authentication

There are two types of wallets, custodial and non-custodial wallets to store your funds. Now, what is the difference between them?

If you choose a custodial wallet, that means you have full control of your crypto keys.

With the non-custodial wallet, another custodian controls your private keys and it requires a trust in the custodian that holds your funds — usually a cryptocurrency exchange.

Apart from that, for security, you must choose between a hot wallet and a cold wallet. There are other wallets also available such as Web-based wallets, mobile wallets, and desktop wallets. You may click on the link to read them in detail.

Final Thoughts

As we all know, cryptocurrencies are not governed by any central authority or government, it is always vulnerable to online attacks. However, by using a perfect security checklist for your data, you can play well and safely in the crypto market. Apart from using a security checklist, one should always be skeptical while clicking any text message or website links asking for your personal information such as credit/debit card details, your pin, mobile number, and so on. Never get trapped in such scams.