What are the best practices to protect my cryptocurrency investments from hacks?

3 answers

• Mar 15, 2022 · 3 years ago
  One of the best practices to protect your cryptocurrency investments from hacks is to use a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making it extremely difficult for hackers to gain access to your funds. These wallets provide an extra layer of security by keeping your private keys separate from your computer or smartphone, which are more vulnerable to attacks. By using a hardware wallet, you can significantly reduce the risk of your investments being compromised.
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• Mar 15, 2022 · 3 years ago
  Another important practice is to enable two-factor authentication (2FA) on all your cryptocurrency accounts. 2FA adds an extra layer of security by requiring you to provide a second form of verification, such as a code generated by a mobile app, in addition to your password. This makes it much harder for hackers to gain unauthorized access to your accounts, even if they manage to obtain your password. Make sure to choose a reputable 2FA app and enable it on all your cryptocurrency exchange and wallet accounts.
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• Mar 15, 2022 · 3 years ago
  At BYDFi, we highly recommend using a combination of cold storage and a secure password manager to protect your cryptocurrency investments. Cold storage refers to keeping your private keys offline, away from any internet-connected devices. This can be done through hardware wallets or paper wallets. Additionally, using a password manager can help you create and store strong, unique passwords for each of your cryptocurrency accounts. This reduces the risk of password-related hacks and ensures that your investments remain secure.
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