This post will give you tips on how to keep your cryptocurrency safe during the yuletide season.
The year 2023 is drawing to a close, and with the end of the year comes lots of activities.
But even amid all the activities and flexing, keeping your cryptos safe should be among the top three priorities.
Join me as I dish out valuable tips on how to keep your cryptocurrencies safe in these ‘-ember months.’
Tips On How To Keep Your Crypto Safe During The Yuletide Season
Some of the measures you can take to ensure the safety of your crypto are:
1. Keep a Low Social Media Profile
I guess this is not what you expect to see as a tip to keep your crypto safe during the yuletide.
But trust me, it’s a legit tip.
Nowadays, most people’s lives are online; they share virtually everything they do online – work, account balance, home, food, childbirth, and anything you can think of.
Let your crypto wallet details not be one of the things you show on the internet.
Maintain a low profile (in that aspect) because you never can tell who is watching.
2. Use a Hardware Wallet
The use of cold wallets, especially hardware wallets, cannot be overemphasized.
They are the safest type of crypto wallet because they are operated offline.
But be sure to keep the wallet safe.
3. Store and back up wallet data in a secure offline location
When I say wallet data, I talk about your private keys and passwords.
Storing such information offline in a secure location is extensively advised.
This way, such vital information is off the internet, and hackers cannot access it.
Now, it is not enough for you to store your wallet data in a secure location.
There’s also a need for you to back up this data to avoid losing your funds.
This becomes really helpful when you misplace your physical device or have technical glitches with your wallet.
4. Whitelist trusted addresses
Most crypto wallets provide the whitelisting feature.
The feature helps you to add specific wallet addresses that you interact with.
This way, unauthorized withdrawals will be curbed to a large extent.
5. Stay off public WiFi usage
There’s always that urge to connect to a free WiFi network when it is available.
Dear reader, resist that urge… especially when you are carrying out a crypto transaction or accessing your wallet.
It’s not integral calculus to know that these free WiFis are not really safe.
But if you must use public WiFi, you can do well to connect to a secure virtual private network (VPN) to be sure your wallet is safe.
6. Carry out all software update
Our devices constantly send us prompts for updates.
For the safety of your funds, do not ignore those prompts.
Each update comes with a new feature and an additional shield of security.
Ignoring these prompts leaves your device(s) prey to new and emerging threats that the new update would have prevented.
7. Enable 2FA
Enabling two-factor authentication (2FA) gives your wallet this extra layer of security.
So, each time you access your wallet, there is always a need for you to confirm that you are the one accessing the wallet.
It can be a code sent to your email address or phone number or by using Google Authenticator.
Be sure to enable 2FA for all your crypto wallets.
8. Avoid generic password
When I say generic passwords, I mean using simple passwords like ‘Password’, ‘0000’ or ‘1234.’
If you are to create a password, I advise you to make it a combination of numbers, letters, and symbols.
You can even play around with the upper and lower cases.
Alternatively, you can employ the services of a legit password manager to help create and store your passwords.
9. Use multiple wallets
There’s this saying about not putting all your eggs in one basket. That’s precisely what I am saying here.
Do not have all your funds in one wallet; distribute your crypto holdings to different wallets.
I will suggest up to two or three wallets.
This is to cushion the effect of the loss of one’s holdings in a particular wallet peradventure a hack occurs.
10. Keep up with news and trends
It is said that knowledge is power.
Keeping up-to-date with the news and trends in the crypto space will keep you abreast of the latest happenings.
You will also be informed about the latest threats and scams happening in the crypto space and the security updates.
11. Use reputable service providers
The last on my list of tips to keep your crypto wallet safe is the subtle reminder to ONLY work with legit crypto service providers.
It’s the Wild West out there, and one needs to be as wise as a serpent to navigate safely in this crypto space.
Always ensure you are on the correct URL of your service providers and do not fall for any phishing scam.
There, you have tips on how to keep your crypto wallet safe during the yuletide.
I hope it was a worthy read.
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