While Bitcoin and other crypto currencies have been around for a while, it is only until recently that it’s been in the limelight after a certain billionaire tweeted about it, which led its value to soar through the roof. Contrary to popular belief, crypto currencies are not safe from the malicious cyber-attacks that plague other investments. In fact, there have been a growing number of incidents involving hackers attacking digital currency exchanges.
The result – there is a growing number of digital currency that is going missing, mainly because these cyber criminals seem to disappear once an attack is successful, along with the digital currency of many unknowing investors. What’s worse is that these digital assets can then be stored away, making them impossible to trace. Keeping the very real threat of cyber criminals attacking your digital assets in mind, here are some precautions that you can take to protect your Bitcoin investments.
Wallets
Many new crypto investors buy Bitcoin or other options using an exchange and end up storing the currency on those platforms. While these digital exchanges are well protected, the truth is that no service is immune to cyber criminal activities. One of the best solutions to make sure your Bitcoin investment remains safe is to use a secure wallet. When choosing a wallet, it is important to know that there are basically two types that you can choose from. The first is the physical wallets, also known as cold wallets, which look more like USB drives. These act as a physical safe for your Bitcoin or tokens. Every hardware wallet is linked with a private key, as in a password like bit of code that only allows the owner of the wallet to access the data that’s stored within it. These cold wallets are a great way to make sure that your digital assets remain safe as you grow your crypto portfolio. But, lost your password key, and you will forever be shut out of the USB drive containing your life’s work.
Digital Currency Exchanges
Using digital currency exchanges such as Bitcoin Era is another great way to make sure that your digital assets remain safe. These platforms are usually accessible via a website or an app, which makes them a lot convenient to use. Unfortunately, this also means that they are open to cyber attacks. That being said, digital currency exchanges use multiple layers of security and follow industry standards when it comes to anti-theft protocols to ensure that all user data is kept safe. These digital currency exchanges are also regulated and have been certified by the relevant governing bodies to ensure their safety.
Ending Note
As the crypto space gets more crowded with new investors wanting their piece of the pie, it is also attracting cyber criminals who are looking to steal crypto currencies and NFTs, which is why investors need to stay vigilant in order to protect their digital assets.
The story of cryptocurrency theft is not new, and with a growing trend of cyber criminals attacking crypto investors, it pays to use crypto trading platforms that use the necessary precautions to keep your digital assets safe, such as yuan pay group. The platform not only makes it easy for investors to get the latest reports on Bitcoin so that they can make a more informed decision, but it also uses the latest security features and industry best practices when it comes to keeping all user data safe and secure from the prying eyes of cyber criminals. If you want to get in-depth analysis and access to hard AI-driven data, while keeping your digital assets safe, then look no further than the Bitcoin Era app.
