The Bitcoin prices have shot up in the last few years and this has created a demand for cryptocurrencies. They are of great value but unfortunately like the other assets that you have it is much easier to hack or steal Bitcoin from your wallet.
The government is only taking steps to regulate the exchanges that deal in cryptocurrencies. However, there is no protection layer or no agency that is there is catch the thieves.
So it is totally your responsibility to safeguard your cryptocurrency. These simple steps can help you keep your asset safe.
2FA is a must
If your Bitcoin wallet offers a two-factor authentication then make use of it. This is a protection to your wallet where even if someone has stolen your login details he would still need your phone to get the 2FA code.
Make sure that your device is secure
The cryptocurrency can be stolen easily and thus it is the top priority for you as well as for your broker to keep it safe. Like other online dealings, it gets difficult to control the cryptocurrency. Thus when you are dealing with cryptocurrencies ensure that you take extra security and add multiple authentications and use encryption to prevent your wallet from being hacked or stolen
Protect the private keys
The 256-bit number is the wallet key that unlocks your crypto wallet. All the sensitive data is in that key. You will need the private key to spend the Bitcoin and thus you need to ensure that this key is protected well.
Phishing attacks have escalated with the rise in the price of Bitcoin, www.trulycoin.com. The phishers are always in search for Bitcoin private keys and passwords to get access to the Bitcoin wallet. There are also many fake apps of the cryptocurrency exchanges and thus you need to be careful to not fall prey to these thefts.