Hello and Everyone
Crypto is like digital money and safety is prominent. It is like the way we secure our fiat currency from hackers or scammers so for the crypto also, we need to follow the same practice. Crypto is money S if we lose anything it is our monetary loss and we should not be in a situation because it is always a bad experience when we lose access to our crypto.
Most of my crypto holding is on hive but still, I have some coins that I prefer to keep in a non-custodial wallet. These wallets are a good option because we keep the key with us and nobody can access the wallet unless they have wallet keys. I do not keep my crypto holding on the exchange wallet and because I'm not a trader, so I don't need to keep any funds in the exchange wallet. Even Crypto experts say that keeping the Crypto holding on an exchange wallet is not a good idea and we should refrain from doing this. Some of the ways that we can follow to keep our crypto holding safe and secure-
Hardware wallets
It is recommended to use hardware wallets for the best of the safety. It is best because you own the key and this wallet is not connected online so it is hard to hack crypto from hardware wallets unless the key access is available in person. If these types of wallets are expensive. Even though it is expensive it is a good option in terms of the best security because hardly you will get to see any case where Crypto has been hacked from a hardware wallet. There is one problem with this type of wallet which is if you lose access to the key then you won't be able to access it so the key is very important
Non-custodial wallets
This is the second best option after the hardware wallet because in this also you own the key. You create the wallet and you are the only one having access to the key so nobody can access your holding or transfer unless they have the key access with them. Now we have the application for computers and mobile phones so there is no limitation on accessibility which is good. The majority of coins are supported even through the different chains so this is a plus point about this type of wallet.
2FA Activation
Second-layer authentication is very important for accessing different websites where we are doing the crypto. When we are accessing our exchange accounts, we need to make sure that we have enabled this. Sometimes our passwords are compromised but in that case, nobody can access the account if second-layer authentication is enabled and it is highly recommended to activate it. Nowadays many websites provide this option including Gmail also. We should not ignore this because this is a safety feature that can help us a lot in keeping our crypto holdings safe.
So these are some of the methods or steps we can follow to keep our crypto holding safe and secure. We should avoid clicking on links that we don't rely on and never share our login credentials with anyone. We must avoid clicking on spam links and never share our sensitive information in the public domain or with any individual asking for any such information. Even if you are using non-custodial wallets make sure that you are not transacting on a network that is not known and reliable.
This is my participation post for Initiative: March Monthly Prompt
Check out the above post if you are interested in participating in this initiative every day there is a different topic that is fun and allows us to share our thoughts.
Thank you so much
Stay Safe