Cryptocurrencies are always vulnerable to hacker attacks. No matter how much money and time a company may dedicate to their security, a patient hacker may still be able to access some of the accounts and wipe them clean. What can you do yourself in order to prevent this and not be completely dependant on the exchange?
But before we attend to explaining the ways you can protect yourself, what exactly are the threats? Many investors just completely ignore the fact that their assets need to be protected, therefore we want to be as convincing as possible.
Hackers can access your accounts through various means, and stealing your coins may be the least of your worries. They can identify your phone number if you have your mobile device connected to the account. By using that mobile number, they may be able to contact your family and loved ones, asking for money and sending them an external bank ID. Therefore the security you need to implement on your account isn’t only for your safety sake, but also the people close to you.
Ways to protect yourself
There is never a 100% guarantee that the safety will be impenetrable, however it is not a reason not to go for at least 99% guarantee. Here are some ways you can avoid a hack attack.
De-sync your Gmail account
You will need to very carefully get acquainted with your Gmail settings. It is very important that you unsync your phone number from the account. The reason is that, all of the confirmation emails your recieve from the crypto exchange you use, are via email, meaning that if a hacker is able to access your Gmail account, he will be able to not only access your crypto wallet, but also your mobile device as well.
The best thing you can do at this point is to use a seperate mobile device. This mobile device needs to be connected to the exchange by one mean and one mean only. There needs to be no internet connection, all of the notifications need to be in SMS form. Most crypto exchanges offer this option. By not having that mobile device connected to the internet, the hacker will simply not be able to even find it in the database.
*Note that not connected to the internet means that you should never ever even turn on Wifi or Mobile Data on that device*.
Clean your password autofill
If you have a lot of accounts it is very handy to have the autofill. It prevents from wasting time when filling the information. But when it comes to finance, it is a disaster. Therefore make sure to go to the Google Chrome or any other internet browser you have, access settings and clean the password autofill option. It’s usually easy to find and guides are available everywhere.
If your passwords are very hard to memorize, just keep them in written manner. Just write them down on a paper and keep it away from sunny and wet places.
Hardware wallets are your best bet
Hardware wallets are extremely hard to hack into. To put it more into perspective. In order to access any, and I mean any modern hardware wallet, all of the computing power that exists today will have to work on a solution for over a thousand years to find it. Naturally this means that all of the combinations will be tried, so an EXTREMELY lucky hacker may guess it in the first few tries. Currently the best ones to use are Ledger and Trezon.