Safeguard Against Crypto Scams/Hacks

In everything that benefits people, there will be some unscrupulous people who are trying to find and exploit loopholes that may exist in the system. The same applies to the world of cryptocurrency which is powered by blockchain technology. Sadly, we have persons who would want to siphon other users' coins in or from their wallets. Although, those in charge of cryptocurrencies and their related institutions are working all around to ensure no loopholes exist and users’ accounts can be safe at least from their side. The other side is how the users keep themselves safe.

Keep Your Keys Safe

First, we all here on Hive upon creating our accounts got the passwords, better known as Keys. These keys are the locks to our accounts and their safety depends solely on them. Basically, this means anyone with one or more of those keys can gain access. In some other wallets, we have what is called the passphrases. Do not share them with anybody. In the case of avoiding loss of softcopy of the keys or phrases, it is advisable to write them down also as hardcopy and kept where only you most likely know.

Create Strong Passwords

In creating some crypto wallets, the user is required to create a password to safeguard the account. Here, it is paramount to create a strong password that should at least have an element from alphabets, numbers, and symbols. At least a strong password as such will be safer than one that contains just some letters only, for example. However, a browser like Google Chrome helps suggest strong passwords to be used and saved on the browser. In this case, you must be careful such that when another person uses your phone or PC, won’t get access through your saved passwords. On PC only, you can switch to Guest Mode – all your items on the browser are not visible to the user until you close that mode. Check How To Switch To Guest Mode.

Two-factor authentication (2FA)

As they say, two heads are better than one. The 2FA basically entails two ways of security check to make sure you are the rightful owner of an account you require access to. Apart from passwords, we have the One Time Password (OTP) which is sent to the phone number or email which was used to register. Also, we have mobile apps such as Google Authenticator, Microsoft Authenticator, etc that offer these services.

Avoid Clicking Links Anyhow.

These days, there are lots of shady links (URLs) flying around. Avoid clicking links sent from an unknown person and double-check if otherwise. You can not be too sure at times. There was a time when airdrops were choking up the space, at some point some of them turned out to be either fake or had codes that were used to gain access to peoples’ wallets and made away with their resources.

Utilize your Browser(s) To Detect Secure Sites

Avoid registering anything on third-party sites but official ones only. And before you submit your sensitive details on websites, you need to make sure it is secure. A browser like Chrome gives the user an instant icon that depicts the security. You can check at the top, just beside the search bar where the website link resides.

_{Left - Click that padlock (or any other) symbol in the area highlighted to check the site's security. Top-right shows it is secure while the Bottom-right is what you see if a site is not!}

In conclusion, there are always new ways by which people become victims. The perpetrators do not rest on their oases. Likewise, new security technologies and tips are coming up daily. What is needed is to be constantly updated in the areas by which you can make your stay in the cryptocurrency space safe.