In this post I will write about crypto security tips 2019. It is very important to keep secured your crypto assets. There are different ways for that. I will describe what is important and my experience with different wallets. The most secure wallet is crypto hardware wallet (in my case Ledger Nano S). But sometimes is simpler to use mobile or online wallets. Especially when you want to pay something or exchange to cash via Crypto ATM.
My recommend is to be very careful with non-hardware wallets and to use it only for smaller amounts. For storage (bigger amounts) I always recommend to use a hardware wallet. For online wallets is very important to have highly secured email. I will give you all important security tips.
Email security tips
Email security is very important: for online crypto wallets, trade exchange platforms, accounts on different websites. Who have control over email – have control over crypto assets and accounts. Because of that email security is very important. When you want to change password for any account you need to have access and control over registered email. Also when you request cashout from trade exchange platforms and passive income websites confirmation link will be sent to you email inbox.
The most important is to have 2-step verification security enabled. (2FA)
You can search for Google Authenticator app. (my recommend to use it on mobile device)
Every time when you want to login except password you need to enter additional one time password. (6 digit number, every 30 seconds will be generated the new one)
Also my advice is to enter recovery email (alternative email address) and mobile phone number. Mobile phone number do not share online – some platforms ask you for email address and mobile phone number. I recommend if you need to enter mobile phone number – enter some other number which is not connected on any way with email address. Sometimes hackers try to do SIM swap attack. They try to convince mobile phone operator that mobile phone has been lost and to take full control over your phone number.
Mobile crypto wallets
My recommend is to use mobile wallets (mobile apps) instead desktop apps. There are many viruses for Windows operating systems and no matter how is secured your desktop computer or laptop – you cant be safe. In mobile phones apps are in the sandbox and much secured. The second reason is that you can on easy way scan QR code with mobile camera and make payment in second.
Very important is to keep secure your 12 word recovery phrase (on the secret and safe place) and to setup password in wallet mobile app. In case that you lost mobile phone, with your recovery phrase you will have access to your crypto assets again. In case that your mobile phone has been stolen – your crypto assets will stay secured.
- Jaxx multi crypto wallet (private keys are stored offline)
- BitPay – BitCoin & Bitcoin Cash wallet
- CoinPayments official mobile app
About Jaxx mobile wallet I have described on my post The best mobile crypto wallet.
BitPay is a simple mobile wallet with high security (multi-signature feature) and this wallet is supported as payment solution on many places (for example: Skrill, Google Play & Amazon gift cards, Hotels.com, Ledger webshop). You can also order BitPay Visa card. More you can read here.
CoinPayments is very popular online wallet with support for many cryptocurrencies – more than 1340 coins. 3 months ago they are published a mobile app for iOS (for Android devices app exist for a long time). More about Coinpayments you can read here. Coinpayments is very popular payment processor for crypto related online businesses such as: CryptoSurf, Infinity Mailer Boost etc.
Jaxx and BitPay are secured with passwords. CoinPayments mobile app is paired with Coinpayments online wallet which is secured with 2FA security.
The most secure way to use cryptocurrencies. Very often there is some news about stolen Bitcoins – the most popular cryptocurrency. How to stay secure?
Hardware wallet is the most secure way to store crypto. Every time when you want to send to other address you need to confirm with physical button located on hardware wallet. On display you will see amount and address.
However there are some important tips:
- buy only at official store (webshop)
- dont use it in public places
- keep secure recovery phrase
- stay away from camera when you will write recovery phrase
More about hardware wallet you can read on my post How to use a hardware wallet?
Crypto trade exchange platforms
Even if you have secured your crypto assets, the next big problem might be crypto trade exchange platforms. The latest case is Binance. In general we cant be sure what is reason for stolen BitCoins – is it some hackers activity, holes in security system or something else. But something is for sure: we will have bad news in future about stolen BitCoins and other cryptocurrencies on big exchange & trade platforms.
My advice is to avoid big platforms and use some alternative and trusted platforms. From my own experience I will share useful information about ways to exchange and trade crypto without needs to be on high risk. Also no needs for complicated verification process.
I use COINUT (operating since 2014. without any security issues) – one smaller platform where crypto assets are stored on hardware wallets and with semi manual withdrawals with email confirmations which reduce possibility to being hacked. To confirm withdrawal is required to click on the confirmation link inside email message from Coinut. About COINUT (signup bonus included) you can read more here.
Good platform for exchange (buy/sell) BitCoins via many payment methods including PayPal, Skrill, Western Union, cash etc is LocalBitCoins. You can also search by location and find someone in your area. (Peer-to-peer P2P anonymous exchange)
You can trade inside Skrill wallet without needs to have cryptocurrencies. You are not able to withdraw cryptocurrencies but you can exchange from fiat to crypto and again back to fiat. At the end you can withdraw profit on any ATM. More info is here.
All 3 platforms have 2FA security.
I hope that this post give you useful information about crypto security tips. If you have any questions or doubts feel free to place a comment.