After taking baby steps in setting up your crypto wallet, funding your account, verifying personal info, and buying your first coins/tokens, it is important to note that securing your new stream of value should override every other activity that involves using your cryptocurrency.
Recent findings in a survey show an increased number of crypto wallet hacks, theft, and transfer of cryptocurrencies from one address to another. Many countries are yet to fully create laws and regulations guiding this new digital landscape leading to various security threats to both individuals’ asset and community wellbeing.
We’ve created a list of common ways you can keep your Busha crypto wallet safe from threats.
Use 2FA or 3FA Security Options: The Busha app comes with a double-layered security check system known as Two-factor authentication (2FA). Enabling the 2FA gives users a unique code that permits access beyond the entry of a username and password. The security code derived is changed at every login stage. This means that only someone who has access to your code generator can get access even if they have your username and password.
With a 3FA, access to online wallets and apps is given a third layer of security. It is often used by high-priority organizations, governments, or very sensitive crypto exchanges.
Keep your private keys private: In the crypto ecosystem, private keys are also known as your pin/password that gives access to your wallet, whereas public keys work as your address/account number used by peers to send or receive coins. While anyone can access your public key, your private key(s) must be kept hidden.
Users can often keep these private keys saved using online mobile devices or offline storage spaces depending on convenience.
Avoid using the same password: In case you’re one of those bright minds who often do a password recon and check for breeches, you are already on the right path to keeping your crypto safe and sound.
New crypto enthusiasts often make the mistake of using the same password across their social media accounts, emails, phones, and crypto-wallets. This poses a great risk as hackers can conveniently crack their security across all software leading to a loss of both social and financial assets.
Use different passwords for every account, combine letters and numbers for a stronger password, lengthier passwords are tougher to breach, and finally resist the urge to store your passwords on browsers without a security check.
Stay away from shady sites and phishing links: It is important to bookmark original and credible sites you’ve visited in the past to avoid falling prey to pop-ups that lead to fake sites that steal user login data. A lot of crypto exchanges like Busha have prompts that ask you to confirm the website address you have accessed and this drastically reduces the chances of phishing.
New and existing crypto maniacs often get sent links to new offers, sites, and platforms to engage with, a lot of which have zero credibility and solely exist to extract user info.
Go old-school with a pen and paper: Sometimes all it takes is going old-school with security measures. Many people often save their crypto assets with the sheer luck of a simple piece of paper.
Writing your password, seed phrase, private keys, and access codes on a note that can be kept very safe or far away from the public eye is a good ol’ way to survive the many stories of online hacks and cloud storage.