Many people already understand the fundamentals of cryptocurrency market, of course there are a lot of newbies entering the market every day who need a lot to learn. Both the old guys and the newbies need to understand threats behind the cryptocurrency market and should know how to prevent cyber crimes.

There are many ways how to secure yourself online, but I outlined the 6 most effective ones (this is especially useful for newbies in the market).

Let’s dive in.

1.Virtual Private Network

A VPN would not only let you enjoy better protection of your bank details and other confidential information, but it would also let you trade all around the world by changing your IP address and your transaction speed itself will be in higher speed.

All you need to do know is choose the right VPN. You need one that isn’t free (CAUTION: free ones collect your data), that doesn’t collect logs and is fast enough. One of the best VPNs for cryptocurrency is Surfshark VPN, which accepts many cryptocurrencies while buying, doesn’t collect logs and is known for its good speeds. You can read about the VPN and overall what does a VPN do here.

2.Backup is always a good idea

Always (ALWAYS!!) have a good backup. One of the most effective ways to backup is to follow 3–2–1 backup strategy. This strategy means having a minimum of 3 total copies of your data. Two of these copies are local but are kept on different storages. The third one is kept offsite. Let’s’ draw an example: imagine you have an “image.jpg” which is stored on your computer, you also have an external hard drive and in case the image stored on your computer would go missing, the hard drive would back it up (this is the second copy). Now imagine you also have an online backup solutions, which constantly scans your computer and uploads your data. That’s the third backup solution.

3.Antivirus is your friend against malware

To protect yourself from thieves, Keyloggers and malware you need a good, constantly updated antivirus. Just don’t imagine that a free one will work, you need one that is constantly updated and for that you just need to pay money. Don’t worry there are many good options and they are not that expensive like Bitdefender or Kaspersky.

4.Two-factor Authentication

If you are trading, two-factor authenticator is a key. It will surely protect your withdrawals which is crucial while participating in cryptocurrency market. If you skip this step well good luck, because someone would gladly capture your password and take your precious money.

To get Two-Factor Authentication you will need to add softwares such as Google Authenticator or Authy on your mobile phone.

5.Be careful with mobile wallet.

Mobile wallets like Jaxx are super convenient for having a small amount of cash with you all the time, but remember my words, it is not safe to carry all your cryptocurrency in mobile wallets (especially if you have a lot of it). Imagine if you lose your phone or it is compromised. You lose everything.

6.Strong password.

Get yourself a very strong password, you can always use such tools as Strong password generator. These passwords are hard to remember, that’s why you need to write them down and hide in a safe place, you can always use password storage application like Keeper.

That’s it for now folks! Don’t forget to follow these security precaution steps, you can find many more of those on the web, but these are the most effective ones on my opinion and would definitely help you experience a safe cryptocurrency lifestyle.

Source: https://medium.com/@parkescora/how-to-secure-your-cryptocurrency-wallet-6-tips-for-beginners-f54ffc01b793