Tips on how to best secure your cryptocurrency — Sell Bitcoin in Nigeria
By: Kola Kunle
Tags: Cybercrime, Bitcoin Wallet, Cryptocurrency

Tips on how to best secure your cryptocurrency — Sell Bitcoin in Nigeria | Buy Bitcoin in Nigeria Kola Kunle Jun 17·3 min read

With the spontaneous increase in crypto trading, bore the need for more conscious approach to secure your cryptocurrency from cybercriminals lurking out there, getting more creative in there attempts to steal from the vulnerable. Although it might sound a bit worrisome but most people are vulnerable to cyber attacks and that is why you should make deliberate effort to secure your cryptocurrency. However the good news is you can improve the level of security to your assets by adhering to these security measures

Enabling 2Factor Verification to secure your cryptocurrency

Enabling 2Factor verification via phone number or email address would add an additional layer of security to your wallets, thereby ensuring that your wallet cannot be accessed from another device without you being notified either by mail or assigned phone number

Ensure to use safe, secured wallet and exchanges

Since you will be investing your funds into digital assets such as Bitcoin, Ethereum, Perfect money, USDT and the likes you should be careful of the exchange from where you buy them, making sure you are choosing the right one becomes critical. Research the exchange’s authenticity and security as a thorough research will help you choose a secure and legitimate exchange platform as well as wallet for storing your assets.

Do not share your login details

Most persons find it convenient sharing login details with friends and family in whom they trust but it is advisable not share your login details with anyone else as they might be careless with it and letting the your password fall into the wrong hands leaving you vulnerable to cyber attacks

Use offline wallets for optimum security

Offline wallets are cold form storage wallets and are indisputably the best form of storage for any crypto investor especially if you would be storing large amounts. The wallet’s offline mode makes them very secure from remote attacks. You can also checkout our previous blogpost Which bitcoin wallet is the best in Nigeria? to give you heads up on which bitcoin wallet is ideal for you.

Do not login from any device

To secure your cryptocurrency it is best if you do not login to your wallet from another device that is not yours. Though you might have in mind to log out once you are done transacting but some devices automatically save login details and once you login successfully to such device your login details is saved and any one in possession of the device can actually have access to your assets.

Staying Vigilant At All Times To Secure Your Cryptocurrency

It is very important to protect your passwords using necessary tools but it is also pertinent you stay vigilant and avoid bragging about the amount of cryptocurrency you have in your wallet just as must as you shouldn’t brag about wining a lottery, hence making yourself a target. Also don’t fall tricks of fraudsters posing to be tech supports, whom try to pressure you to giving out login credentials. Exchange platforms such as Nairadirect, Exchangeindeed and Nairaload would never ask you for your login credentials.