6 Tips To Maintaining Your Cryptocurrency Account

Cryptocurrency is slowly taking over and dominating online payments. Being the latest universal currency on the market today, many people have embraced it, set up wallets and engaged in various transactions online. And, as it is with anything that’s globally accepted and highly used, there have to be necessary measures taken by its users to maintain these crypto accounts.

So, here are 6 tips to maintaining your cryptocurrency account:

1.   Encrypt Your Account

Establishing a strong password is quite important but it’s not enough. After setting up your account, it’s important to encrypt it. Doing so safeguards it from malware, protecting your Bitcoin from theft. You can encrypt your account using secret phrases and passcodes and ensure that you use a secure connection when accessing the account if you’re using an online wallet.

You can also install an encryption tool on your PC to secure your account if you’re using a desktop wallet.

2.   Use The Two-Factor Authentication

Accessing your cryptocurrency account online always places you at risk of malware attacks more so if your wallet is under an online storage provider. Regardless of the fact that the provider offers a trusted service, it’s important to take extra measures to secure your account. Two-Factor authentication will come in handy if you’re using a web-based wallet.

3.   Use A Multi-signature Address

It’s highly advisable to create multi-signature addresses for your cryptocurrency account. Each of these signatures must be derived from a different device. This serves to add another level of security over the two-factor authentication mentioned above. However, for this option, validation of a transaction will need more than two parties each with a unique private key.

The multi-signature option will work well if your cryptocurrency account handles corporate transactions or if the private keys are stored on different devices.

4.   Keep Your Bitcoin Client And System Updated

To effectively secure your cryptocurrency account, it’s highly advisable to keep updating the system regularly and keep scanning it for threats. Go ahead and invest in a reliable security solution that will properly protect your operating system.

Ensure also that the physical storage has no malware in it to avoid crashes that may corrupt the files in your account.

5.   Backup Your Wallet

It’s possible to lose your content owing to a malware attack. It is wise then to keep your Bitcoin wallet backed up. You can do this by making several copies of it and then storing them in a safe place. If your virtual wallet isn’t active, you can go ahead and destroy the remaining copies once you’ve overwritten the files.

6.   Remain Anonymous

Consider using a flexible Bitcoin client account that allows you to change address for every transaction you make. Employing an escrow service that acts as a middleman for each transaction made is highly advisable. You can also opt to use a cold storage wallet of your choice.

Keep the codes of the paper wallet encrypted and store the hard copies safely in a safety vault.

Conclusion

These 6 tips will help you a great deal in maintaining your cryptocurrency account. That being said, did you know that you can buy Bitcoin using your debit or credit card? You can do this via a trusted cryptocurrency exchange. You need to locate one that’s easy to use and is highly responsive.

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