5 Simple Ways to Keep Your Crypto Safe

In this article, learn how to effectively counter sophisticated scams and cyberattacks by practicing basic security measures that keep your crypto safe.

Security is paramount to a hassle-free experience on-chain. However, every year, cyberattacks and scams become increasingly sophisticated. It’s now more important than ever to take proactive measures to protect your digital assets.

The good news is that you don’t need to be a tech expert to reinforce your digital defences against threat actors. By practicing a few simple security habits, you can significantly reduce the risk of falling victim to data breaches and crypto theft. Here are five simple ways to protect your crypto.

Protect Your Seed Phrase

Your seed phrase is the master key to your wallet and cryptocurrency holdings. To keep it safe, carefully adhere to these actionable steps:

• Store your seed phrase offline, avoiding local folders or cloud storage.
• Split your seed phrase into multiple parts and keep copies in secure locations, such as bank vaults or safety deposit boxes.
• Consider using a hardware wallet or engraving your seed phrase on a metal plate for added security.

Avoid and Report Spoofed Social Media Accounts

Scammers often create fake social media profiles that mimic well-known crypto exchanges or celebrities. To avoid falling victim to these scams:

• Verify that the handle is authentic by checking for blue check marks or verification symbols.
• Scroll through profiles to spot fakes, looking for inconsistencies in the handle, profile picture, or posting history.
• Never click on links with FOMO-inducing captions, even from authenticated accounts, as these can be phishing attempts.

If you are concerned about the security of your social media profiles, there are simple security measures that you can take to mitigate vulnerabilities. Read our ultimate guide to protecting your social media accounts to get started.

Beware of Phishing Links

Phishing links are designed to trick you into revealing sensitive information or installing malware. To avoid these online traps:

• Double-check the sender’s email address or social media handle to ensure it’s authentic.
• Never download software from unverified sources, as this can install malware on your device.
• Consider using a virtual machine if you must interact with unverified links, as this can provide an additional layer of protection.

Avoid Social Engineering

Social engineering attacks use psychological manipulation to trick you into revealing sensitive information or performing certain actions. To avoid being socially engineered:

• Watch out for deepfakes and bots, which can be used to create convincing but fake videos or messages. Ask questions before clicking links or taking any action on the blockchain.
• Always research the team behind a project and verify their legitimacy before participating on-chain.
• Never reveal sensitive or personal information online, as this can be used to create targeted scams or phishing attempts.

Adopt Proactive Wallet Security

Proactive wallet security habits are, by far, the most effective way to reduce the risk of falling victim to crypto theft and data breaches.

• Use antivirus software and ad blockers to create a safer browsing experience.
• Scan transactions with simulators before signing with your wallet to ensure you’re not falling victim to a scam.
• Consider using composable and programmable wallet security tools like FailSafe to cover your blind spots and provide an additional layer of protection.

FailSafe offers cutting-edge features designed to protect against unauthorized transactions and phishing attempts, thereby providing an additional layer of security for your digital assets.

Start using FailSafe to improve your crypto wallet security today.