- So far, there is no global authority to tackle cryptocurrency theft.
- This leaves individual investors to fend for themselves against crooks, hackers and fraudsters.
- These are 12 things you can do to make it harder for thieves to attack your digital assets.
Cryptocurrencies have become a popular target for hackers and crooks as the market has appreciated in value over the past year. The uptrend has continued despite recent global volatility, first after El Salvador’s new Bitcoin law came into effect, followed by the Evergrande crisis and Chinese FUD – crypto slang for fear , uncertainty and doubt – to retain control of their economy and promote their local digital yuan. .
On the other side of the fence, you, the investor, worry about whether you have enough checks and balances in place. Keeping your digital currency safe is deceptively simple – you just need to be in control at all times. Turning into a âtough targetâ – someone who presents minimal risk and an unattractive target for hackers – can be reached quickly, with minimal effort and time.
The lack of global crypto regulations is a double-edged sword. While this has helped crypto innovate freely at a rapid pace, that same âfreedomâ also means there is no standardization when it comes to security. As a result, the responsibility for controlling your cryptocurrency rests entirely with you, the user.
In the pursuit of securing the cryptocurrency you own, security measures can range from time-tested common sense fundamentals to the precautions of the crypto era.
Here’s a quick rundown of 12 things you can do to keep thieves, hackers, scammers, and crooks at bay: