Nowadays online privacy and protecting digital data are a factor of great importance. Privacy applies to bitcoin users even more so because they are storing wealth in the digital realm. Governments, hackers, and non-state actors are compromising global citizens private data daily, but there are many steps one can take to protect themselves.
Today, the world is threatened by global mass surveillance from countries participating as the “fourteen eyes,” an alliance of fourteen countries sharing intelligence and people’s data on a global level. Privacy has been attacked by the state, and non-state actors and analysts suggest this will only increase over the years. Within the online world, there are many tactics users can utilize to protect themselves from unwanted snooping.
For those who use cryptocurrencies over the web, security is integral to digital asset storage. Malicious hackers are gaining access to people’s wealth every day with people who don’t take responsibility securing their digital currencies. Cryptocurrency theft becomes more common with attackers utilizing social engineering methods to acquire people’s funds online.
Using cold storage practices is an excellent way to keep intruders out of your digital assets. The method entails keeping cryptocurrencies offline and out of harm’s way. Bitcoin and altcoin proponents can store offline using paper wallets, hardware wallets, and other forms of protected media. If you are not using your digital currencies daily then keeping them offline would be the safest choice rather than leaving them exposed on the open web.
Multiple Factor Authentication (MFA) and Two Factor Authentication (2FA)
MFA and 2FA are typical standard practices for most bitcoin users. The method confirms the identity of a user by using multiple verifications. Google Authenticator and Authy are well-known services that offer multiple validations. Bitcoin companies like exchanges and wallet services also offer SMS codes to use as 2FA to access their services. Adding MFA and 2FA features to bitcoin applications and accounts is highly recommended. Additionally securing your email that is tethered to an account also protects from malicious social engineering to accounts linked to your email.
Backups and seed protection, PIN and password phrases
Most of these services that ensure privacy and security use passphrases, mnemonic seeds, and PIN numbers to gain access. Backing up these details, so they don’t get lost or forgotten is a good idea. Users should keep copies of handwritten passwords and manage their entry data in a secure location typically offline. If a hardware wallets seed is lost or an account password is forgotten, sometimes people can be totally locked out from their accounts. There is a lot of debate over whether or not password managers are secure and if this type of application is used as a back a user should research with due diligence.
With privacy and security research you can get inside the online world
There are many more methods of privacy and protection that can be used online and with cryptocurrencies. Researching and practicing these techniques will help ensure your digital footprint will not be tracked or attacked in an unfortunate way. There are many types of entities who find your digital data valuable. This means quite a bit of online experiences are manipulated in order to obtain your credentials and information. However protecting yourself from nosy governments and hackers looking to liquidate your wealth can be achieved.
Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent infocoin views and should not be attributed to Infocoin.