- There is currently no global authority to tackle cryptocurrency theft.
- This allows individual investors to defend themselves against fraudsters, hackers and fraudsters.
- Here are 12 things you can do to make it more difficult for thieves to attack your digital assets.
Cryptocurrencies have become a popular target for hackers and scammers as the market has increased in value over the past year. The upward trend has continued despite recent global volatility, first after El Salvador’s new Bitcoin law came into effect, followed by the Evergrande crisis and China’s FUD – crypto slang for fear, uncertainty and doubt – for control of its economy to keep and promote their own digital yuan.
On the other side of the fence, you, the investor, are concerned about having enough checks and balances. It’s deceptively easy to keep your digital currency safe – you just need to be in control of it at all times. Turning yourself into a “tough target” – someone with minimal risk and an unattractive target for hackers – can be accomplished quickly with minimal effort and time.
The lack of global crypto regulations is a double-edged sword. While it has helped crypto renew itself freely at a rapid pace, this “freedom” also means that there is no standardization when it comes to security. As a result, the responsibility for control over your cryptocurrency rests entirely with you, the user.
In an effort to secure your own cryptocurrency, security measures can range from proven common sense basics to crypto-age precautions.
Here’s a quick look at 12 things you can do to keep thieves, hackers, scammers, and scammers at bay: