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How To Protect Your Cryptocurrencies

Friday, October 8th, 2021


A cryptocurrency is a form of digital/virtual currency that was created by its developers with cryptography techniques. Cryptography makes use of certain algorithms, which make it easy to encrypt and decrypt data. An algorithm is nothing but set of steps for solving a problem or completing a process. It gives output after following a set of instructions. Here are some steps you can take to ensure that you are protecting your cryptocurrencies. 

There are a few ways to protect your cryptocurrencies from getting stolen:

  • Use a cryptocurrency hardware wallet that can be regarded as the most secure. You can also use a software wallet, provided that you keep your private key secured or encrypted in an offline device/storage.
  • Make sure that all the devices connected to the internet are protected by antivirus software and firewall.
  • Avoid keeping large amounts of money in just one place (i.e., don’t use just one wallet).
  • Keep your private key in a place where only you can access it.
  • Don’t share your private keys with anyone, not even with exchanges.
  • Never keep your passwords or passphrases wrote down anywhere. Write them offline on a piece of paper and store that paper in a safe place.
  • You should only access your wallet from one device. In case you want to access it from two devices simultaneously, make sure that both the devices are secure and safe before doing so.
  • If you’re getting into crypto trading (buying or selling cryptocurrencies), make sure that the website is secured with HTTPS protocol. This encrypts all the information that you provide on the website, thus making it difficult for hackers to intercept your data.
  • It is not safe to share screenshots of your wallet (with its keys) with anyone, not even with exchanges. If you want someone’s help regarding any issue related to your cryptocurrencies, only share the URL of your cryptocurrency wallet along with your wallet address.
  • Make sure to use different addresses for each transaction that you perform on the blockchain. This prevents your data from getting leaked or hacked, as it’s nearly impossible to track any activity of an individual with just their wallet address.
  • Always remember to backup your wallets on multiple storage devices (i.e., USB drive). 

If you have an old device or computer that you have used to access your information, you should also take into consideration shredding that hard drive. This will ensure that your information stays protected from hackers trying to steal your information. 

Contact UCI Destruction!

If you do happen to have an old hard drive that is no longer in use, let us destroy it for you! We are certified in the destruction of computer drives to maintain our client’s safety. We want to provide you with the satisfaction of knowing that no one will be able to access your information. Call us today at 806.372.7722 today to learn more about how we can protect your information!