How to Keep Yourself Safe from Hackers
The cryptocurrency industry can be a lot like the wild west at times. Anyone in crypto the past years will not be surprised when a malicious group of hackers targets another exchange, wallet, or individual. When you are the one that’s in control of your wealth, it’s your responsibility to keep yourself safe from any hackers. We want to guide you in finding the right ways to protect your crypto and even show you how to generate extra income while doing so.
There are two ways to approach protecting your crypto:
- Taking all security measures yourself
- Finding a trusted party that takes care of security for you
Taking all security measures yourself
When you take all of the security measures yourself, you are in for a big task. You should self-host a wallet that’s hosting the entire blockchain and keep it away from any network access, this way, you’re the only one who has access. You need to add multiple layers of security, and still, whenever you can withdraw from a particular wallet, you’re vulnerable to outside intruders. When you’re taking measures into your own hands, it’s a long road that might make you make unnecessary mistakes.
Finding a trusted party that takes care of security for you
The other possibility is putting your trust in the hands of others that took the effort of paving the way to your beloved security. It might be against the cryptocurrency principles of trusting a third party instead of self-hosting everything. Yet, when you can enjoy insurance of your funds up to $100M, an actual financial institution license, and more than 10% APY on the funds you store, isn’t that a reason to put your trust in a third party? CoinLoan prides itself on having military-grade security with its ten layers of security, including offline multi-signature wallets to store your funds. Please read all about the security measures CoinLoan takes to defend their users’ funds.
The beauty is, while you put away your funds to hold them for the future, you can help others by providing loans. Who knows the funds you make available for others will be the funds that will allow a new business owner to set up shop and provide for their family. You can do lots of your cryptocurrencies. You have to know where to go and where to wheel in the most benefits!