5 tips to help you avoid cryptocurrency theft

As of June 2020, criminals in the cryptocurrency space have stolen a total of $1.4 billion worth of crypto assets. Affected cryptocurrencies include market giants Bitcoin and Ethereum. Malicious cryptocurrency-related transactions and cryptocurrency thefts are not uncommon for the industry. Such incidents have been recurring over the past few years.

With the increasing number of hacking activities and other risk events in the cryptocurrency industry, how to protect our currency security has become a very important task. But how can you ensure that your cryptocurrency is protected from theft? Check out the following 5 tips for protecting cryptocurrency assets.

Use two-factor authentication

Two-factor authentication (2FA) is an authentication process in which users are required to provide two different authentication factors during the authentication process. Compared with single-factor authentication processes that rely only on passwords, 2FA can provide higher security. When using 2FA, in addition to providing a password, users are required to provide additional biometric indicators (usually fingerprints or facial scans) to prove their identity.

In the cryptocurrency industry, some wallets have begun to offer 2FA features, which means that your cryptocurrency can be protected with extra security. As someone who uses cryptocurrency, you should consider using this option, after all, the online world is full of dangers and it seems that anyone can steal your login credentials.

Accounts with 2FA enabled are inaccessible to untrusted parties because they require two layers of security to be met. Failure to meet either layer prevents someone from accessing your account. The most common form of 2FA is the Google Authenticator app for mobile devices. Once you download the app, you can follow these steps:

● Log in to the wallet for which you want to enable protection

● Use your phone's camera to scan the QR code

● Link the certification details to your phone via QR code

When you turn on Authenticator, the app will automatically generate a 2FA code for your account that will expire after a period of time. Using an expired code will return you to the login page.

Avoid using public WiFi

All public WiFi users are vulnerable to hacking. When using public WiFi, hackers can quickly gain access to your phone connected to the same network. Hackers can intercept communications between you and your network provider, allowing them to learn everything you send over the internet.

Therefore, if you use a crypto wallet while connected to public WiFi, hackers may be able to obtain your login information. In addition, hackers can also access key emails, including emails from crypto wallet providers. Once hackers gain access to your phone, they can easily steal all your cryptocurrencies.

Rather than using public WiFi in hotels, libraries, or other public places, it’s better to carry an Internet dongle with you and use your own private network. It may cost a small amount of money every month, but it’s better than losing thousands or tens of thousands of dollars.

Keep your cryptocurrency safe with BitcoinMix.org

Although we have learned a lot about ways to protect your assets, the best way to ensure security is to put your trust in an expert platform. BitcoinMix.org is one such Bitcoin mixer that can guarantee the anonymity of your online purchases. In this platform, you will receive "brand new" Bitcoins after each mixing. This will confuse those who track your transactions.

The platform will guarantee your anonymity, it will not collect any personal information, and will delete the email information after 24 hours after you register your account with the email address. Bitcoin Mixer provides you with the option to trade cryptocurrencies and store them offline in cold wallets. This dual wallet option brings additional security to cryptocurrency assets. With the Bitcoin Mixer service, you no longer need to manage multiple wallets, you only need one mixer to ensure transaction security.

Protect your private keys

From a cryptographic point of view, all cryptocurrency processors receive two types of keys: a public key and a private key. When other users want to transfer money to your account, you send them the public key. The opposite is the private key. The private key is a cryptocurrency digital signature, and you need the private key to approve every transaction in and out of your wallet.

Therefore, it is also important to keep your private key safe. You must always keep your private key offline, such as storing it in an external hard drive or other storage device, and then hide it somewhere. In this way, even if someone gains access to your computer in any way, they will not be able to find your private key, thus ensuring the security of your cryptocurrency.

Avoid visiting untrusted sites

Cryptocurrency industry hackers may take advantage of your enthusiasm for cryptocurrencies by sending you emails or advertisements that point you to fake websites. You need to be very careful with such websites when you are online, because if you open the wrong link, there is a high chance that a backdoor will be left on your device, giving hackers an easy way out.

Before clicking on any site or CTA on a cryptocurrency-related website, you should check if the URL is the same as the site you normally visit. If there is something wrong, then there is a high chance that you are on the wrong site. You should exit the page immediately to be safe.

Keep your device safe with advanced antivirus features

You will need to have a single device for all your cryptocurrency needs, but if that is difficult to do, make sure you protect your device with advanced antivirus.

Good antivirus software will not only identify threats on your hard drive, but also from the internet. Antivirus will help you fight malware that could provide hackers with access that compromises your device’s security.

To sum up

The risk of losing your assets is increasing in the cryptocurrency industry, so every trader should do their best to avoid any attacks. In addition to hacking and phishing, there are many other ways for attackers to steal your cryptocurrencies. Therefore, in order to protect yourself from losses, please be sure to follow the guidelines given above.

To ensure the security of your assets, use BitcoinMix.org to anonymize purchases and securely store cryptocurrencies that are not in use. Until developers address security threats in the cryptocurrency industry, it is important to do the right thing. Security is critical and will drive global adoption of cryptocurrency technology. BitcoinMix can help you stay anonymous and trade on any blockchain without worries.