5 Tips to protect your cryptocurrency wallets – Coinlist

Breaking into the crypto niche also involves a certain level of financial responsibility. In addition to correct risk management when investing, another key factor is to use a secure scheme to protect your funds if you decide to store them in a digital cryptocurrency wallet. Regardless of the wallet chosen, there are standardized good practices to protect your cryptocurrencies and stay one step ahead of hackers. Learn 5 practical tips here!

Cryptocurrency security in a wallet
Users must also bear their share of responsibility by storing cryptocurrencies in a cryptocurrency wallet

If you use an exchange: Triple the security of your account

Cryptocurrency exchanges or platforms are one of the most common places for users to store their digital currencies. They are an ideal arena to have the funds at your fingertips whenever you want to execute buy / sell transactions, and even trade with platforms compatible with futures contracts or CFDs.

The wallets used by these types of platforms are called “hot storage wallets”. These are constantly connected to the Internet and therefore more vulnerable to cyber-attacks.

Evolution in the industry has allowed exchanges to become increasingly robust; however, there are cases of massive thefts