In our previous blog, we explored the concept of diversification and how you can pick the needles in a haystack in the context of crypto tokens. On the occasion of Day-5-Panchami, dedicated to the goddess of protection, let us explore the concepts of Crypto security and how you can keep your funds safe.
The Crypto market is relatively new with rapid innovations and dynamic changes. With its momentous growth over the last decade, several new users are pouring in with a genuine intent of exploration. That being said, there is also an increase in outlaws and digital bandits who are ready to con gullible users.
Read more: Guide On Protecting Your Crypto Investments
Whether you are new to Crypto or adept with the market, it is imperative that you fully understand how to keep your funds secure. Below is a short list of hygiene checks which you need to keep in mind. Please note that this list is based on internal research and is not an exhaustive list. Investors should conduct thorough research and due diligence before deciding to invest in crypto.
Crypto two-factor authentication: Implementing two-factor authentication enhances your account’s security by necessitating both a code and a password for access. This added layer of protection significantly reduces the risk of unauthorized entry, even if your password falls into the wrong hands.
ZebPay’s Web Application has 2-factor authentication enabled which will allow you to login via an SMS and your account password. Mobile authentication is highly secure by enabling- PIN login or through facial recognition.
Crypto password management: Maintain robust security for your crypto accounts by utilizing strong, unique passwords for each one. Avoid using easily guessable passwords or recycling them across different accounts. Relying on a single password puts all your credentials at risk in the event of a data breach on any one website.
Regularly update your software: Continuously update your operating system, web browser, and crypto-related software to ensure that you benefit from the latest security features and safeguards. ZebPay regularly updates the mobile app with bug fixes, security updates, and performance improvement features. So, you must keep updating your mobile App.
Read more: What is a Crypto Scam
Exercise caution with crypto phishing scams: Stay vigilant when it comes to unsolicited requests for information. Always verify the authenticity of the requesting party before sharing data, and never click on links within emails or messages from unknown or suspicious sources. If you come across suspicious accounts or pages on social media, do report these accounts which will help authorities take them down.
Read more: What is Phishing Attack in Crypto
To learn more about Crypto, Web 3, and Blockchain, visit ZebPay blogs. Click on the banner below to join the millions taking part in the Navratri festive celebrations. Stay tuned for our next blog which will detail “ How to Manage Risk in Crypto Investing?” in this 9-part series.