Cryptocurrency is a digital asset and can be used as a medium of exchange. These digital assets are the result of a combination of cryptographic techniques and encryption that has been designed to regulate the creation of new units and verify transactions. The first cryptocurrency was Bitcoin, which was created by Satoshi Nakamoto in 2009. Since then, over 4,000 cryptocurrencies have been created with different purposes such as Ethereum (a decentralized platform for smart contracts) or Ripple (a blockchain solution that allows banks to settle cross-border payments). However, despite all its advantages, cryptocurrency also comes with some risks such as getting hacked or stolen from your wallet.
Tips to stop cryptocurrency from being stolen
- Use a password manager.
- Use 2FA.
- Use a hardware wallet (if you have one).
- Use a VPN to secure your online activity and encrypt your data, though it isn’t foolproof (see below).
- Install browser extensions like MetaCert Protocol and uBlock Origin that automatically block malicious sites and content.
- Use a phone app like Coinbase Vault or Trezor Wallet to store your cryptocurrency offline in cold storage, which makes it much harder for hackers to access than computer-based wallets that are connected to the internet at all times (see below).
1. Use a good set of passwords in combination with a password manager like LastPass, Dashlane, and KeePassPasswordSafe.
It is vital to use strong passwords that are not easily guessed. To make sure that your account is secure, it’s a good idea to use a password manager like LastPass or Dashlane to generate and store unique, complex passwords for each of your accounts. You should also avoid using the same password across multiple accounts or any personal information such as birthdays or names.
You can find more helpful tips here: https://www.reddit.com/r/Coinbase/comments/3qj2ec/how_to_create_a_stronger_password/.
2. Use two-factor authentication (2FA) whenever possible.
- Use two-factor authentication (2FA) whenever possible.
There are many ways to do this, but the best way to keep your account secure is by using a Yubikey or Google Authenticator, which will send an automated push notification to your phone when you log in from an unrecognized device. If someone tries to access your account without this notification, it will be denied.
You can read more about setting up 2FA on Coinbase here: https://support.coinbase.com/customer/portal/articles/2649051-how-do-i-set-up-two-factor#30619
3. Use a hardware wallet for extra security.
Hardware wallets are the best way to store cryptocurrency, as they provide an extra layer of security. You can use them to generate a secure key pair and then use that key pair to transfer funds in and out of your wallet. Unlike software wallets, which are installed on a computer or mobile device, hardware wallets are physical devices that typically look like USB drives or flash drives.
Hardware wallets can be extra secure because they don’t expose your private keys (the string of letters and numbers used by exchanges and other services) as long as you follow basic security procedures when using them. Additionally, if someone steals your hardware wallet itself (as opposed to just taking it), it will still be useless without the PIN code needed for access.
In addition to being more secure than software wallets, hardware devices have additional benefits over paper wallets—they’re smaller and more portable—but these devices do still come with some downsides: they cost money upfront (around $100-$300) and require regular battery changes every few years if not sooner.”
Look out for phishing attacks, common hacks and ways your cryptocurrency can be stolen.
- recover stolen cryptocurrency from Coinbase. Know what phishing attacks are. Phishing attacks are a popular way to steal cryptocurrency. They can be hard to detect, but email and social media scams that try to trick you into giving up your private key are common.
- Keep an eye out for these kinds of scams:
- Email or text message asking you to send some money in order to access your account, or telling you there was a security breach and asking for login information (this is one of the most common ways hackers get access).
- A fake website that looks like it’s from Coinbase—the URL just has one letter off (like co-n-a-b). If this happens, do not log in anywhere else on your computer without checking with Coinbase first.
4. Avoid using public Wi-Fi or any kind of kiosk to access your cryptocurrency accounts.
- Avoid using public Wi-Fi or any kind of kiosk to access your cryptocurrency accounts.
If you’re going to use public Wi-Fi, use a virtual private network (VPN) service. There are several VPN services that offer free options, but make sure to choose one with at least 128-bit encryption and support for OpenVPN, which is considered the standard in this industry. The best part of using a VPN is that it will hide both your IP address and location from hackers—so they’ll be unable to track you down even if they do manage to steal your password.
If you have a hardware wallet (which is highly recommended), don’t leave it unattended either—even just for a few seconds while walking through an airport or shopping mall! If anyone steals it before you get back, then all of your crypto assets will disappear along with it. Also remember not ever let anyone else use your device either: Keep those passwords secret!
5. Keep your anti-virus software up to date on all your devices that connect to the internet.
It is hard to stress how important it is that you keep your computer protected from viruses and malware. A good anti-virus software will do the job, but an anti-malware software can be even more effective. Anti-malware software will scan for malicious code and remove it, while anti-viruses only detect it and quarantine it until you can manually remove it. If possible, install both kinds of protection on all of your devices (iPhones, tablets, laptops).
The easiest way to ensure that these programs are up to date is by setting them up in a schedule so they automatically update when necessary.
6 .Use only legitimate links or URLs to connect you to the official site of a cryptocurrency or blockchain service you want to use, such as Coinbase or Binance
- Use only legitimate links or URLs to connect you to the official site of a cryptocurrency or blockchain service you want to use, such as Coinbase or Binance.
Cryptocurrency-related sites and exchange platforms are often targeted by hackers, who are always on the lookout for ways to steal user data through phishing attacks. A common strategy is to create fake websites that resemble the genuine ones, but contain malware designed to steal your login credentials and other valuable information such as passwords and credit card details. The best way to avoid being deceived by these frauds is by using only legitimate links or URLs when connecting yourself with an exchange platform like Coinbase or Binance
7. Use a VPN service if you’re accessing crypto services online, especially through a browser like Chrome or Firefox on accounts like Coinbase or Binance
If you’re accessing crypto services online, especially through a browser like Chrome or Firefox on accounts like Coinbase or Binance, use a VPN service. But what is a VPN?
A VPN (Virtual Private Network) is an encrypted connection that allows you to make your internet traffic appear as if it were coming from another location than where your computer actually is. It also helps protect against man-in-the-middle attacks and other methods of hackers trying to steal valuable information from you as it passes between the hacker and the site that they are trying to attack.
How to Recover stolen cryptocurrency from Coinbase
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We hope you found this post helpful and informative. If you want to learn more about how to recover stolen cryptocurrency, or if you need assistance with recovering your lost funds, please contact us at our cryptocurrency recovery specialists.