Cryptocurrency is a virtual or digital money that can buy, stored or sell with crypo exchange wallet with the usage of cryptography. There are different types of cryptocurrency like coinmama, blockchain, btoincash, Eos, bittrex, ripple,coinbase, localbitcoin and many more.
Trading cryptocurrency has become a hugely profitable and mainstream business. Today, everyone has been aware of the word Bitcoin and cryptocurrency. Let’s quickly recapitulate what is a cryptocurrency mining. A straightforward and precise answer is that cryptocurrency is a decentralized digital/virtual money.
Why is cryptocurrency different? It leverages blockchain technology; a distributed ledger technology to exempt third parties. Users access their cryptocurrencies using public and private keys. These keys are stored in a wallet.
The three key features that cryptocurrency offers are decentralization, immutability, and transparency. While there is no centralized authority, there are chances of your account getting hacked. You are entirely in charge of the security of your coins. So, have you been sure your coins are safe? No? No worries. We’ve got you covered!
The main question in regards to the security of digital currency. How do Investors secure their cryptos.It’s quite easy to take care of your cryptocurrencies. Just a few easy tips and voila! Your cryptocurrency protection will undoubtedly be on point! Have a look at the 3 best tips you must conform to to secure your cryptocurrency.
Secure Your Wallet
The best way to secure your cryptocurrencies is to select a secure wallet. Such as for instance, wallets that make use of encryption to safeguard the private keys are better and safer. Purchase a cryptocurrency hardware wallet to store your digital assets safely. Trezor, Ledger (Nano S), and KeepKey are a number of the popular crypto hardware wallets.
NOTE: Do not store your entire funds in a wallet. Own two digital wallets – Hot wallet and Cold wallet. With the hot wallet, perform your entire trading and transactions. On the other hand, the latter stores your savings.
Validate Strong Authentication with Two-Factor Authentication (2FA)
Enabling two-factor authentication adds an additional layer of security to your account. That is a perfect security option. Please ensure that it is working properly before you upload any funds.
Make Use of Difficult and Strong Passwords
Be sure you set a powerful password and encrypt your wallet. Use a blend of numbers, uppercase letters, lowercase letters, and special symbols. Also, you might take the help of password generators such as LastPass and KeePass to generate a powerful password for the wallet or email.