How to Keep Your Coins Safe From Hackers
Nigeria and the world have become very popular with cryptocurrency. The young people are purchasing Bitcoin, Ethereum, and other coins in large quantities to save, trade, or invest into the future. However, with the increase in the value of crypto, there is also a rise in the efforts of hackers to rob individuals. I have read numerous accounts of Nigerians who wasted their money due to lack of attention. It is quite essential to keep your coins safe, and there are easy measures each one of us can do to keep ourselves safe.
The first one is to wear a secure wallet. There are two primary wallets, namely, hot wallets and cold wallets. Hot wallets are related to the internet, such as mobile applications or exchange wallets. They are user friendly and at the same time more vulnerable to hackers. Cold wallets on the other hand are offline such as hardware wallets or paper wallets. They are more secure since they cannot be accessed by hackers using the internet. A cold wallet is preferable to use in case you are carrying a lot of coins.
The other step is to safeguard your personal keys. Your secret key is your password to your coins. When one has it, he or she is capable of robbing everything. You must never give out your private keys to anyone even a very close friend. I have heard that there are people in Nigeria who request other people to assist them in setting their wallets, but it is dangerous. It is preferable to study on your own and leave your secret keys somewhere. You can even type them on a piece of paper and leave them somewhere safe.
It is also essential to use powerful passwords. Weak passwords are easy to guess by many hackers. Use no birthday, phone-number or 12345 as your password. Rather, a combination of letters, numbers and symbols should be used. In addition, do not share the same password on your email, wallet and exchange account. In case of being hacked, it will not endanger the rest.
The other powerful tool is two-factor authentication (2FA). It implies that even with the knowledge of your password, an individual will not be able to log in unless he or she is provided with a code that is sent to his or her phone by an app, such as Google Authenticator, or the system generates a new one. Personally, I am a user of 2FA which helps me feel more secure. It is required in many transactions both locally and internationally and I believe that everybody ought to have it on.
Be careful of phishing scams. Hackers normally send email messages purportedly and generate counterfeit websites resembling genuine interactions or wallets. They can request you to provide them with your information, and after that they take your money. Never rely on links on websites and log-in. Assuming that it is possible, it is worth bookmarking the actual site and using that link at all times. I have heard of Nigerians losing their money on forged Binance and Trust Wallet links they have received on WhatsApp or Telegram.
You should not also speak a lot about your crypto holdings. In Nigeria, word spreads fast. When others are aware of the fact that you are carrying several coins, there is a chance that you will attract online and offline thieves. Keep your investments confidential and do not boast about it on the social media.
Finally, it is better to upgrade your apps and wallets. Updates to security issues are issued by the developers. Hackers can exploit old vulnerabilities to strike you in case you do not update them.
Finally, discipline and wisdom are necessary in keeping your coins safe against hackers. Carry large sums of money in a cold wallet, keep your private keys locked up, use a strong password, use two-factor authentication and beware of scams. Moreover, make your crypto experience a secret and update your apps. In my case, I always guard my coins as much as I make them. One hates the fact that he or she works hard, invests and loses to hackers. By making such easy actions, we will be capable of reaping the rewards of cryptocurrency without being afraid of losing it.