In today’s advanced age, where the computer can do anything, and everyone can do anything with a computer it’s imperative that we educate ourselves on how to protect our information and data. Even more so when it’s about our money. When it comes to cryptocurrencies they are money that is stored online and if the banks have vaults that protect the money within them, you need to get your own vaults that will protect your money. While cryptocurrency has its own protection that can’t be breached. As of yet even by a quantum computer, it still can’t protect against one thing.
Stupidity! Humans are the weakest link when it comes to protection of data and their belonging. If you leave something in one place it won’t move, but if you put a human around just to move it a bit by bit eventually. It will get lost and even he or she won’t know where she put it. So, to evade those kinds of scenarios you must learn how to protect your cryptocurrency, and there are several simple rules you can follow to protect your coins.
Make a backup
In fact, make several of them. Backups are not going to be cheap, but they will be a hell of a lot cheaper if you lose all your coins to a phishing site or to your stupidity. The fact of the matter is that everything in this world can be done. On our side without any mistakes and still mistakes will happen. Hard drives fail, USB sticks get lost. And most important of all mother nature can intervene. And when that happens you want to have a backup of your money on several places so that your data and valuables are safely tucked away.
Encrypt your data
As with any data, if it’s just left there for the taking. Somebody will come and take it, or at least check it out. Which will eventually leave you without your money? Encrypt important data such as your cryptocurrency and save yourself a headache in the future.
Get multiple wallets
Having one wallet is fine, but having more than one is better! If you entrust your wallet to another company be prepared that that company can go under the bridge in no time.
So, if you want again to save yourself from a bad situation make sure you have several wallets that can at least save your portion of the coins when one side goes under.
Stop using your phone for logins and transactions
The biggest weak link in every online transaction are our mobile phones. The computers have several ways that they can protect themselves or cut off potential thieves.
But our mobile phones are like lambs to the slaughter. Never trade or input any important passwords over your mobile phone.
Get a quality antivirus on your pc
Everything that is free is not worth it in the long run. Make sure you check out the reviews on several sites and get yourself a full yearly subscription on a quality antivirus.