Eight safety tips for those who want to invest in digital currencies

Aug 14, 201943

Anyone investing in or planning to invest in cryptocurrencies needs to keep in mind that one of the essential precautions to avoid problems is to reinforce care about information security. According to Galeno Garbe, Bitcoin Market CSO, just like any other online transaction, trading in virtual currencies requires some basic care from Internet users.

 

"The protection of personal data is critical on the Internet as the volume and sophistication of online attacks and fraud grows exponentially," said Market CSO Bitcoin, Latin America's largest cryptocurrency broker. "So, those who already invest or plan to invest in bitcoins or other digital currencies should be aware of information security," he adds.

 

Here are eight tips on how to avoid security issues in digital currency trading:

 

Choose a reliable exchange: When choosing a broker to trade digital currencies, the user needs to look for information about the company's reputation and understand if it has a reliable and secure technology infrastructure with dedicated teams.

 

Browse secure sites: Never click on links in emails with proposed cryptocurrency investments and avoid trading on unfamiliar sites. One way to validate the email address is to type it directly into the browser.

 

Create a strong password: At the time of registering with the brokerage firm to buy digital currencies, the investor must choose a password of 15 characters or more that combines numbers, symbols, upper and lower case letters. It is also important that you never share this password and do not use it on other services, such as email and access to profiles on social networks.

 

Use 2-Step Authentication: The user must install an application that performs this type of authentication, in which, in addition to the login and password, must provide a token - a sequence of numbers that appears in the mobile application at each login.

 

Use a system to monitor online password leaks: It's free to use free online services that notify users whenever their passwords are leaked on the Internet, allowing you to immediately change your password - not reuse it - when that happens. Some examples of sites offering this service are https://haveibeenpwned.com/NotifyMe and https://mypass.com/.

 

Avoid using other people's computers: When accessing the digital currency broker, you should use your own computer and avoid third party equipment. If you need to access the website from someone else's PC, be sure to sign out and not save passwords or information. If it is strictly necessary to make one of a shared computer, make use of the "incognito" function. When done, close the browser completely.

 

A good antivirus always helps: Use a good antivirus and install all updates that are required by the system. For Windows machines, Defender (Free) works perfectly. Also understand that an antivirus is not impenetrable, so base your security on your online behavior rather than the antivirus solution.

 

Do not connect to open Wi-Fi networks: When accessing Exchange, users should not use open Wi-Fi networks (those that do not require passwords for the initial connection). In such cases, give your smartphone 4G priority and use it as a router. When it is "inevitable" to use public Wi-Fi, it is important to only access services on websites that use HTTPS / SSL (site lock).


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