At the moment, cryptocurrency is becoming more and more popular. But do you know one of the main reasons why investors hesitate to put money into cryptocurrency? All of this is because threats and security risks have changed over time. So, if you lose or have your crypto stolen, it’s not easy to get it back. Because most governments don’t regulate cryptocurrency, it’s hard for people to keep their crypto wallets 100% safe from attacks or lower the level of risk.
Since 2012, about $3 billion has been stolen from cryptocurrency exchanges. Since COVID-19 started, there have also been a lot of attacks. In April 2020, the investors had to deal with a loss of about $600 million. As more and more people invest in cryptocurrency, hackers are finding more and more ways to steal cryptocurrency.
Do you want to keep your Web3 wallet safe? Make sure you follow the 5 tips below to keep hackers from getting into your cryptocurrency: –
1.) Make sure that your passwords are safe:
One of the best ways to keep hackers from getting into Web3 wallets is to make sure that no one else knows the password you use to protect the wallet. If you’re not sure you’ll always remember your passwords, you should keep them in a secret place.
If you own crypto, you can keep the passwords to your wallets somewhere in your home. Here are a few apps for your smartphone that are made to help you keep your passwords safe. Lastpass and Dasglane are two of these top-rated apps that can be used on a wide range of phones.
2.) Make the hardest password you can:
Creating the toughest passwords is another way to help you in Web3 wallet development and keep it safe. You shouldn’t try to make passwords that are easy for everyone to remember. There are a number of well-known password management apps, called code generators, that are made to give you the most security possible. There are also a few web3 wallets that come with their own passwords.
Will you set up a password for your own cryptocurrency wallet? If so, here are some things you can think about when making a password: –
How long should the password be?
One thing to remember when making passwords to protect your Web3 wallet is that longer passwords are safer than shorter ones. So, it will help you if you make codes with at least 12 characters.
Changes in characters:
When you make a password, it is most secure if you use a mix of symbols, capital letters, and lowercase letters. This way, the people who hold them can keep their wallets safe. Even better, you can protect your web3 wallet by using a mix of small letters, capital letters, numbers, and certain symbols, like asterisks and punctuation marks.
Use a Password Generator:
When people with crypto decide on a password for their wallets, they don’t use words or phrases that can be found in the dictionary. Instead of using common words and phrases that are spelled correctly, like “House” or “Home Computer,” make passwords that are very random, easy to hack, and not in the right grammatical order.
Don’t Use Recognizable Numerical Substitutes:-
Do you really think that replacing a “O” with a “0” is enough to change the order of the passwords? If you said yes, you are wrong. You shouldn’t think about changing a few letters in a simple word or phrase, like “h0use,” with symbols or numbers. Instead of doing this, you can make passwords more random by using a different set of symbols each time.
Use the MBLX app to keep track of wallets:
The MetaBlox app is also one of the safest ways to keep hackers from getting into your crypto wallet. To connect your wallet, this app uses a multi-step authentication process. It needs a unique MetaBlox decentralized ID, a recovery phrase, and a security key to do that.
Users need a DID-Decentralized ID, which is a web credential, to access crypto bridges on the MBLX network. It is based on a very secure blockchain and has authentication steps to keep hackers from getting into virtual wallets. DIDs also have a number of real-world and virtual apps that protect data security and the privacy of users.
If you own a Web3 wallet and want to open it on the MetaBlox app, you need a strong password and a private key. The person who knows this password can do things like withdraw and deposit crypto. Now with the help of web3 consulting company you can easily choose which web3 wallet is good.
Sentence with a Hint:
Before making a wallet, holders come up with similar recovery phrases. When they lose their wallet’s passkey, they can get it back by entering this set of terms in a certain order into the app.
4.) Get an offline cryptocurrency wallet:
A good password and authentication process can help keep your Web3 wallet safe, but keeping your assets in an offline wallet can also help. Because these wallets aren’t connected to the internet or a blockchain, they are easy to hack. It means that offline wallets are devices that can store cryptocurrency but can’t connect to Wi-Fi apps or crypto bridges. So, if you want to buy, sell, or trade crypto, you have to move your assets into online/Web3 wallets like MBLX.
5.) A Safe Internet Connection:
Hackers usually go after Web3 wallets that are connected to the internet. So, if you have crypto, you should use deFi apps and crypto bridges with a secure internet connection. You also can’t use public WiFi or do financial transactions that hackers look for. To protect your online wallet from crypto hacks, you can also use a VPN that lets you change your web location.
Like the spaceships, the value of the Web3 wallet has reached the heights of heaven. You don’t have to feel like you have to protect your cryptocurrency wallet. But if you’ve decided to protect it, make sure you’re making good decisions and doing thorough research to protect your web3 wallet.
If you are a modern crypto trader or want to store your GameFi rewards, you must protect your web3 wallet to keep your assets safe. Also, if you follow the steps above, you can make it much less likely that your digital assets will be stolen.