The internet has revolutionised the way we communicate, conduct business, share information and interact with each other. However, it has also brought new threats, particularly in the area of cybersecurity. With the rise of cryptocurrency, it is more important than ever to use the internet safely and protect your digital assets. In this blog post, we will discuss how to safely use the internet, including utilising two-factor authentication (2FA), password management, and other best practices.
Use Two-Factor Authentication (2FA)
Two-factor authentication is an extra layer of security that requires a user to provide two forms of identification before accessing an account. It is one of the most effective ways to protect your accounts from unauthorized access. Many cryptocurrency exchanges and wallets offer 2FA as an option, and we highly recommended that you enable it. There are several different types of 2FA, including SMS codes, authenticator apps, and hardware keys. Authenticator apps like Google Authenticator or Authy are considered the most secure option, as they generate unique codes that change every 30 seconds.
Use a Strong Password
Using a strong, unique password is one of the simplest ways to protect your accounts from unauthorised access. Your password should be at least 12 characters long and include a mix of uppercase and lowercase letters, numbers, and symbols. Avoid using the same password for multiple accounts, as this makes it easier for hackers to gain access to all of your accounts if they obtain your password for one.
Here’s how long a $25 per hour rented computer from AWS would take to crack your password:
Use a Password Manager
Using a password manager is an easy way to generate and store strong, unique passwords for all of your accounts. Password managers like LastPass or Dashlane can also help you keep track of which passwords you've used for each account and alert you if any of your passwords have been compromised in a data breach. Remember: NEVER put your private keys/seed phrase onto an online enviromen, this includes password managers.
Keep Your Software Up to Date
Keeping your software up to date is essential for maintaining the security of your computer and other devices. Software updates often include security patches that address vulnerabilities that could be exploited by hackers. This includes your operating system, web browser, and any other software you use to access the internet.
Be Wary of Phishing Attempts
Phishing is a type of cyber attack where hackers try to trick you into giving them sensitive information by posing as a trustworthy source. For example, a phishing email might look like it is from a legitimate cryptocurrency exchange or wallet provider and ask you to click on a link to verify your account information. Always be wary of unsolicited emails or messages that ask for your personal information or credentials.
Use a Hardware Wallet
Hardware wallets are physical devices that store your cryptocurrency offline, providing an extra layer of security. This means that even if a hacker gains access to your computer or phone, they will not be able to access your cryptocurrency without physically stealing your hardware wallet. Popular hardware wallets include Trezor and Ledger; you can buy your own hardware wallet here.
Using the internet safely is essential for protecting your cryptocurrency and other digital assets. By following these best practices, including enabling 2FA, using strong passwords and a password manager, keeping your software up to date, being wary of phishing attempts, and using a hardware wallet, you can reduce your risk of falling victim to cyber attacks and enjoy the benefits of cryptocurrency with peace of mind.