HOW SAFE ARE YOUR TOKENS?
Daily the interest in cryptocurrency rises. More persons are willing to jump into the space to make profits for a lifetime. If you haven’t made the jump, why not now? If you have, Congratulations. Now, I will like to ask, have you taken the time to secure your account?
The rise in cryptocurrency investors has also led to an increase in hackers, which means one has to take out the extra time to ensure that one’s coins are safe. You don’t want to log in one day and see that your portfolio is empty.
So let us look at some ways we can prevent this from happening:
1) Passwords: No matter where you store your tokens, be it in an exchange or wallet, your best line of defense is a strong password. Therefore, two important things you must NEVER play with on this
• Never use the same password across your accounts.
• Always use unique passwords on each account.
Note that your password should contain at least 12 to 16 characters.
2) Always use reputable cryptocurrency wallets and exchanges, thoroughly research these before creating an account. Too many phony exchange sites out there.
3) Ensure you enable two-factor authentication. It provides an extra layer of security for you, a relatively quick process. On Blockvila, on your dashboard, there is a notification to Turn on two-factor authentication to secure your account. Click on turn on and under security, click on 2Factor Authenticator, and set up.
4) Your Private/Secret Key should be kept private. The best way to store this is via cold storage, writing it out, and storing safely.
With these few steps, you can ensure that your portfolio is always safe and secure.