How to Keep Your Cryptocurrency Safe

How to Keep Your Cryptocurrency Safe

0 By yourmoneyisnotsafeinthebank

Electrum, Ledger, Coinbase, Trezor… these electronic cryptocurrency wallets are regularly the target of attacks by hackers. Lately, it is the Trezor wallet that has been the occasion of a resounding theft, via a fake application available in the Apple Store.

Sites and apps for storing cryptocurrency online whet hackers’ appetites and come under regular attack. This software allows you to sell, buy and store cryptocurrencies, such as Bitcoins. Not so long ago, an American paid the price, transferring over $ 600,000 to a fake Trezor app. Downloadable from the Apple Store, this software pretended to be the authentic digital wallet. The app appeared on the Apple Store as certified and highly rated. Via it, the user delivered their Trezor account information, which allowed the fraudsters to suck up all the cryptocurrency stored on it.

The fake app has been closed… for the umpteenth time. Indeed, Apple has already deleted fake virtual wallets (including Trezor) many times, without preventing their reappearance. According to the firm itself, more than 6,500 applications of this type have already been withdrawn from the Apple Store! Note that Trezor is the first company to create a “hard” wallet (hardcore wallet). This technique is considered today as the safest method of storing cryptocurrencies. 

The Use of Crypto Wallets in Gambling

Considering the fact that nowadays many people use cryptocurrencies in different areas of their life, such as shopping, trading, gambling, etc., it’s essential to know how to choose a safe wallet and not lose your digital savings. Lots of online services, including already offer a wide range of payment methods and the most popular among them is paying using Bitcoin, Ether or Litecoin. A great example of implementing such crypto payment methods could be online casinos, such as Katsubet, as it is said on their review page Gamblers all over the world mostly choose cryptocurrency when making their deposits and withdrawals.

Bitcoin Gambling

That’s why we’ve collected a few general rules on how to prevent hackers’ attacks and make an online gambling experience safer. 

How to Protect Yourself?

  • To begin with, you should know that the Trezor cryptocurrency wallet, managed by the Czech company SatoshiLabs, does not have a smartphone app version, like some other platforms. The first precaution before loading an app is therefore to consult the brand’s website to find out if a smartphone version has been created.
  • Choosing a complex password (more than eight characters) and above all specific to connect is more imperative than ever. You always take more risk by using a combination already used for other accounts. If only one of the sites is compromised, all the others will be.
  • Never connect to your wallet account in response to an email or SMS, but always start from the original site, verifying the email address (by including it, for example, once and for all in your favorites).
  • Choose hardware wallets. Some alternative currency storage platforms, like Trezor or Coinify, also offer a wallet in a “hard” version. The hardware electronic wallet comes in the form of a large USB stick with a small digital dial. This device is more secure because in this case, the keys and codes necessary for storage and transactions are kept on the physical device, rather than on the computer desktop or an online account. They are therefore never connected to the Internet and cannot be snatched via a virus or malware.