To be sure of the safety of their funds, many sites are improving their methods of protection. But ordinary users who use cryptocurrency should also be concerned about this. Ignoring security rules can lead to the fact that all savings in cryptocurrency will be irretrievably lost.
To work with cryptoassets, you need to use separate accounts, for example, email and phone number, which are different from the main ones. In this case, even when comparing public data, the accounts will be safe from fraudsters. It is also recommended not to disclose personal data in the public domain, for example, on social networks, instant messengers or blogs.
Two-factor authentication will help to provide additional account protection, when combined with other security measures (for example, a number of exchanges allow you to set additional passwords for transactions), it can significantly increase the level of account security. Two-factor authentication (2FA) is a method of identifying a user to enter a service, in which you need to confirm at least two ways that he is the owner of the account.
It is recommended to divide the cryptocurrency into different storages so that when gaining access to one wallet, fraudsters do not have the opportunity to steal all funds.
Decentralized cryptocurrency exchanges do not store users’ cryptoassets, but simply organize their interaction. The peculiarity of this approach lies in the fact that the user himself keeps his savings and is responsible for their safety, and does not transfer them to the possession of third parties. Also, the exchange cannot block or reverse the transaction.
Basic safety principles
- Painstakingly record and save recovery codes for two-factor authentication;
- Do not use light simple passwords like 321A123a;
- Register trusted ip-addresses;
- Do not store the entire seed phrase in one place. Better to split in two and hide in different places
- (Seed phrase is a set of random 12, 18 or 24 English words that is used to restore a cryptocurrency wallet);
- Be attentive to wallet updates, if the update is fraudulent, you can instantly lose funds;
- Before you start actively using the wallet, you should try to delete it and restore it via a phrase.