While using the Cryptocurrency for online transactions, it is important to keep yourself in a safer place. Privacy is measured as one of the most important factors while trading with these currencies. Without taking care of the privacy, the use of Cryptocurrency is totally pointless. If your coins are not private, you will lose its ultimate benefits and you will not be able to trade in an effective way.
When someone talks about the privacy, it does not mean only the user account, but it involves all the activities around sending, spending and trading Crypto on the web. Privacy is not a one-dimensional activity, it is like an all-around activity where you have to look for all the online factors to make sure not a single malicious element harm your Crypto.
While there are cyber attacks everywhere, it is important to give extra care to your Crypto currency wallets. Keeping this in mind, below in this article we have listed 3 of the most important privacy tips that will overcome some major security threats associated with Coins. Have a look at these 3 points.
Use Private Cryptocurrencies
We all know that Bitcoin is the king of all the cryptocurrencies and most secured too. But If you are thinking for some other options and really concerned about your Crypto privacy and also don’t want any third party to know about your activities, you might look for private currencies. It is considered wise, and a viable option to go for private or Privacy Centered Cryptocurrencies.
Privacy-Centered Cryptocurrencies such as Monero (XMR), Aeon (AEON), Dash (DASH), Verge (XVG) & Zcash (ZEC) makes it possible to hide the transaction details from third-party viewers. There are some drawbacks associated with these Crypto particularly with Monero, as it charges very high transaction fees. But if you are looking for a secure and private cryptocurrency, then Monero and other four mentioned above are the best to go for.
Use VPN while Opening Your Crypto Account
Most of the internet users consider a VPN only a tool to access restricted websites, but applications of VPN are beyond than that. Also, there are few people who think using a VPN requires a complete command over its technology, all these assumptions are wrong. In fact, the majority of VPNs are as simple in use as drinking water. There is nothing required on the end settings and no manual port reconfiguration is required to run it on your computer or smartphone.
Most of the famous VPN providers such as IPVanish, ExperessVPN, CyberGhost, etc. offer a simple user interface for hiding your real identity, which is the most important part of a Crypto activity. If you are the user of Opera browser, then you will be aware of the fact that it offers a built-in VPN for both Desktop and Android browsers. If you have not installed Opera, then you should do it right now as they claim “Enhanced online privacy is a right for everyone,”
Besides accessing restricted websites, a VPN helps you in providing an extra security layer for your privacy protection. If you make transactions through an enabled VPN, then there will be minimum chances of cyber attacks on your wallet.
Keep Backups of Your Coin Wallet
Failure of technology (Software, Hardware) is possible at any point. For a Coin Investor, regular backups of the wallet are essential to protect your data against any kind of computer failure, cyber attack, malware or any other human-caused errors. Store the backup data on a Cloud but not in the actual form rather in the Encrypted form.
Taking backups on regular intervals might be a hectic and time taking job, but it is good for long term success. Keeping the backup of your Coin Wallet may also help you in accessing your data even if your device is stolen or lost. There are different methods that can be used for Wallet backup. Use the one that is compatible and supported by your system.
Additional Security Tips
Staying at a secure place is not a big deal if you keep in mind the below-mentioned security practices. These are simple but are hard to follow.
- Never Login Your Wallet on Public WiFi/Computer
- Never share your account details i.e. Passwords with anyone
- Change login details on a regular interval
- Never share your Crypto private key with anyone
- Use Two Factor Authentication (2FA) where possible
- Keep separate your Coin and social media email
- Keep your computer away from Virus and Malware
- Backup your account after a specific time
If you have already decided to jump into the great arena of Cryptocurrencies, then the above guide is a must read for you. The resources discussed above for making it fully secure and private will get you on your way to the success you want in the Crypto world.
Another bonus tip you should follow as a Coin user is that you should never expose to your friends on social media as how much you have invested in the coins. If you do this, people will try to access you through your online data and can harm you in the form of coin stealing or misusing.