If you store your crypto in some sort of wallet – hardware or software, you’re already doing better than most rookie investors. Let’s add some other easy, but effective ways to boost your crypto wallet security.
1. Backup Your Wallets
You should always store your wallet’s keys offline. And it’s important to make a backup of these keys – offline.
Once your backups are complete, move a couple of them outside of your home. In case there is a fire, earthquake, etc., and your home is damaged, you can still access your crypto assets.
The local bank safe is a great place to start or bury the keys somewhere exclusive if you have to.
2. Avoid Public Wi-Fi
Don’t use public Wi-Fi to access your crypto assets. Public Wi-Fi is usually under-protected due to weak passwords and encryption. Confidential information is a lot easier to be intercepted.
Access funds from your home Wi-Fi. If possible, connect to a VPN to hide your IP address and avoid tracking your activities.
3. Separate Things
A good trick to crypto wallet security is to have a device dedicated to crypto. Whether that is a cheap computer or an Android phone, pick something that’s easily accessible and light on resources. Try not to install anything on it other than crypto software.
You should also create an email dedicated to crypto rather than using a personal email.
And never access your funds on a work or public computer.
4. Stay Educated
Hackers are constantly inventing new ways to steal funds. It’s important to stay in the loop of any new attacks or threats so you can respond quickly.
Sign up for some newsletters and keep some crypto news sites bookmarked.
Check if your favorite exchange is going through any legal changes or updates. Also, see if your crypto wallet is releasing any updates or security patches.
5. Multiple Wallets
Never put all your crypto eggs in one basket. Instead of putting all your funds in one wallet, divide them into at least two.
One wallet for day-to-day transactions, and one wallet for HODLing.
It may be annoying to keep track of separate keys and passwords, but this could save you from disaster if one wallet dies.
Take the time to back up your wallets in different places, online and offline. Avoid public Wi-Fi when dealing with crypto at all costs.
Invest in a dedicated device and separate email for all transactions. And keep yourself educated about any potential threats.
Lastly, it’s not a bad idea to have at least two wallets for daily buys and long-term holds.