Did you know that almost 20% of Americans have bought, sold, or traded in cryptocurrency at least once?
If you’re thinking about getting into crypto for the first time or increasing the amount you deal with, it’s crucial to learn how to keep yourself protected. For instance, you should learn the ropes when it comes to crypto keys. That way, you won’t be susceptible to hacks.
Are you wondering what tips you should be aware of? Keep reading to learn all about how to manage your crypto keys.
Three Types of Wallets
Simply put, a crypto wallet is designed to hold your public and private keys. These are the keys you’ll need whenever you want to complete a cryptocurrency transaction. The security you have will depend on the type of wallet you’re using.
For instance, there’s a mobile app wallet for public keys. Most people use this app for retail transactions. Just be sure to keep your phone safe because you may end up losing your wallet if you lose the phone.
It’s also possible to keep the keys on your computer with the power of a desktop wallet. While you’re less likely to lose a computer than a laptop, this type of wallet is more susceptible to malware and phishing scams.
The best solution is to have an online wallet through a cryptocurrency exchange. This is something you can access from any internet connection so you don’t have to worry if you lose a specific electronic device.
Added Crypto Key Management Security
Are you wondering how to keep your keys safe aside from using exchange default wallets? The good news is that there are many methods available to you. For example, if you have a mobile app wallet or a desktop wallet, then you can keep them in a physical safe when you’re not using them.
Don’t forget to activate two-factor authentication so that even if someone tries to gain access to a device, they won’t succeed unless they have access to another device. This ends up being next to foolproof.
Whatever you do, never share your passwords with others. It’s not so much a question of trust as it is security. The more people who know your password, the higher the chances it can get in the wrong hands.
Are You Ready to Manage Your Crypto Keys?
Now that you’ve learned how to manage your crypto keys, you won’t have to worry about them and other sensitive data getting stolen. That way, you can continue to buy, trade, and sell crypto without a hitch.
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Don’t hesitate to contact us with any questions you may have.