More people across the UK are getting involved in cryptocurrency. But as interest grows, so do the risks. From hacked accounts to online scams, your digital assets can quickly become vulnerable if you’re not careful. It’s not just about owning crypto, but about protecting it. Below are five practical steps that will help you keep your holdings safe. Keep reading to find out how.
Photo by Kanchanara on UnsplashUse a Reputable Wallet
To start, you need a safe place to store your crypto. Wallets come in two main forms, known as hot wallets (connected to the internet) and cold wallets (kept offline). Hot wallets are fine for frequent use, but they can be more exposed to online threats. Cold wallets, such as USB-style devices, offer better protection, especially if you plan to hold your coins for a while.
Some of the best UK crypto wallets give you both options. You might keep a small amount online for quick trades, but it’s smart to move the bulk of your assets into cold storage for added peace of mind.
Secure Your Private Keys
Your private key is what allows you to access and move your crypto. If someone else gets hold of it, your coins could be gone for good. That’s why you should never share it with anyone or save it on your phone, email, or cloud storage.
Instead, write it down and keep it somewhere safe and private, ideally, somewhere that only you can get to. Some people make two copies and store them in different places, just in case. Always remember that if you lose your key, you lose your crypto.
Enable Two-Factor Authentication (2FA)
One of the easiest ways to make your account more secure is by turning on two-factor authentication. This means you will need a second step, usually a code from your phone, when logging in.
Avoid using SMS for this, as phone numbers can be stolen. Apps like Google Authenticator or Authy offer stronger protection. It only takes a few minutes to set up, but it can stop a lot of problems before they start.
Avoid Suspicious Links and Scams
Online scams are getting more convincing. You might get an email that looks like it’s from your crypto exchange, or a message on social media with a “limited-time” offer. These are often fake, and clicking on them could cost you.
Be careful where you click. Don’t log in to your account from links in emails or messages. Instead, visit the site directly or use a bookmark. And if someone you don’t know messages you with a crypto tip or giveaway, it’s best to ignore it.
Keep Your Software Up to Date
One simple way to stay safe is by keeping your apps and devices updated. This includes your crypto wallet, mobile phone, computer, and anything else you use for trading or storing crypto.
Updates often fix known security gaps. If you ignore them, your device could be easier to attack. Setting updates to run automatically can help keep everything protected without the hassle.
Stay One Step Ahead
Owning crypto means taking full control and full responsibility. Use a trusted wallet, secure your keys, enable 2FA, stay alert to scams, and keep your software updated. These small steps can go a long way in protecting your assets and keeping your crypto safe from common online threats.
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