Tips to keep your crypto wallet secured from hacking threats

crypto wallet

Blockchain-based technology is accredited around the globe for its inherent safety. However, both traders and investors have been complaining lately about losing their crypto holdings. The reasons behind the same range from phishing scams to hacked exchanges, improper management of private keys, and many more. In stark contrast to the traditional form of banking, once the digital currencies leave your wallet, you cannot enforce any legal proceeding for getting them back. Moreover, no insurance can be claimed on the amount lost which is why it is extremely important to ensure the safety of crypto holdings by following the below-mentioned tips.

crypto wallet
crypto wallet
  • Opt For Cold Wallets

When compared to hot wallets, the cold ones are not prone to cyberattacks as they do not connect with the internet. Users can store all their private keys in the encrypted hardware wallet which enhances its level of security.

  • Keep Your Device Secure

Guaranteeing proper security of your device and updating it timely can defend it against the recently discovered threats. For strengthening the security meter of your device, you can install a strong firewall and anti-virus which can keep it buffered from hackers trying to take advantage of the loopholes. 

  • Ensure A Secured Internet Connection

While engaging in crypto transactions, it becomes imperative to avoid public Wi-Fi and stick to a secure internet connection. Virtual Private Network (VPN) usage is advisable for strengthening the level of security even while using your home network. A VPN is capable of keeping your browsing sessions safe by altering your location and IP address. 

  • Undertake Regular Password Change

Strong passwords have a big role to play in maintaining the security of your crypto account. People have a general tendency of using the same password on different applications, devices, and even social media accounts. Doing this just adds to the level of threat as hacking just one password can make all your other accounts vulnerable to hacking threats. It is always advisable to set a complex password using a combination of letters, numbers, and special characters which shall be difficult for anyone to guess. People holding multiple wallets are advised to use separate passwords. Opting for multi-factor authentication can guarantee greater peace of mind by enhancing the security meter. 

  • Keep Multiple Wallets

In the field of finance, we are often advised not to store all our eggs in one basket. The same advice also holds in the world of crypto wallets where diversification can bring down your risk factor. You can use one wallet for carrying out all daily transactions and store your remaining holdings in a separate wallet. Apart from safeguarding your portfolio, this will also assist in mitigating losses arising out of a breach of your crypto wallet. Having a crypto merchant account offers several benefits for businesses in the cryptocurrency space. This account typically refers to an account that lets businesses receive customer payments via a selection of cryptocurrencies.

  • Beware Of Phishing Threats

Malicious emails and advertisements are the most common form of phishing scams undertaken in the cryptocurrency world. These attacks are usually performed under the veil of fake domains which impersonate affiliated employees and organizations. They simply end up embedding harmful links in the emails. You need to be extremely careful while undertaking crypto transactions and avoid all unknown links at all costs.  

Final Words

As more and more people are opening up to the potential of cryptocurrency, competition amongst digital wallets is increasing rapidly. The ultimate onus is on users to be selective while choosing the wallet so that they can engage in transactions with various merchant websites like shopping portals, entertainment sites like and more in a worry-free manner. To keep things on the safer side, it is advisable to opt for crypto wallets developed by reputable companies and carrying a stellar track record. 

Other articles from

Ethereum ETF filed in Canada

Another application for an Ethereum ETF filed in Canada – Cryptocurrency

Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles

7 Super fascinating reasons for visiting Lonavla city

Lonavla is a very popular hill station in Maharashtra and is one of the most important places to be covered from the perspective of tourism because it comes with charming lakes, forts, and waterfalls. Spending time in this particular city is definitely worth it because it is famous by the name of Jewel of Sahydri across the globe and is one of the iconic

Beverly Hills Cop

Official sneak peek of Netflix New Beverly Hills Cop

Detective Axel Foley (Eddie Murphy) is back on the beat in Beverly Hills. After his daughter’s life is threatened, she (Taylour Paige) and Foley team up with a new partner (Joseph Gordon-Levitt) and old pals Billy Rosewood (Judge Reinhold) and John Taggart (John Ashton) to turn up the heat and uncover a conspiracy. Cast: Eddie Murphy,

getting out of debt

How Canadians can get help getting out of debt

The cost of living crisis in Canada has resulted in unprecedented personal debt. There seem to be culprits everywhere: the cost of housing, rising grocery prices, student loans, gas and utilities, and out-of-control telecommunications bills. As of 2024, roughly a quarter of Canadians are only financially able to make minimum payments on their credit cards,

Montreal Fringe Festival

A Night at the St. Ambroise Montreal Fringe Festival, 2024 Edition 

For Americans, summer officially began with Memorial Day weekend, in which the actual holiday fell on May 27 this year. For Montrealers, summer — especially summer festival season — began on that same day. That’s when the St. Ambroise Montreal Fringe Festival kicked off its 2024 edition with its annual Fringe-For-All launch event. A packed


Top factors to consider when choosing a ground solar mounting system

The rise in renewable energy use has made ground solar mounting systems a favored option for both homeowners and businesses. With many choices on the market, picking the best system may seem like a daunting task. We have put together a list of key factors to help you make an informed decision. Keep these in

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox