Having a safe computer is extremely essential these days in order to stay away from cybercrimes and attacks. Moreover, when you are a crypto trader, this becomes a vital thing in your life. With the increase in cyber crimes and crypto scams, the need for keeping one’s computer safe has arisen. Also, crypto trading is a risky undertaking so all sorts of protection should be taken beforehand. For this purpose, we thought of bringing an article that would inform people on how to make any computer safe for crypto trading.
Why Is A Safe Computer Needed For Trading Crypto?
A safe computer is needed anyway as no one wants to give others access to their confidential data and risk the loss of possessions. However, when crypto trading is involved, the foremost need for computer safety is to keep one’s crypto funds. This is due to the fact that this domain is highly unregulated and not known about. These factors have made it an attractive field for scammers and hackers to execute their unethical motives.
If a computer is not safe, then any hacker or third party might be able to acquire data on your trading activities. Not only that they could even access all your crypto funds and would make immense profits from it. This is because the private key which is required to access your crypto assets would be known to them. Further, information about your crypto wallet can be used in many other detrimental ways. Therefore, a safe computer is indeed needed.
In case, you have linked other wallets or stored information about other possessions on the computer, even that would be lost. In addition, if you lose your crypto funds there are very rare chances that you might get them back. Therefore, if you can’t keep your computer safe then you should forget about all your possessions stored there.
Maintaining Cyber-Hygiene: The First Step In Making A Computer Safe
It is essential that you start with the basics first. Therefore, maintaining cyber-hygiene should be the first step in order to achieve computer safety. You need to make sure that the computer system you are using is devoid of any infections. This is due to the fact that computer viruses can be easily used to deter your system from performing properly. These could be used to extract passwords and other login details that could even relate to your crypto trading account.
If your system is already infected, hackers won’t think once before attacking you. This is why it is important that you keep a check on your system and ensure that you have a safe computer. It is recommended that you use anti-virus software along with an anti-malware program for the safety of computer system(s) you have been using. Some software options that you can check out are Malwarebytes, ZoneAlarm, and AVG. In addition, consider installing a browser extension that is capable of blocking zero-day malware downloads or phishing sites.
Experts even suggest that you should review all of your passwords, be it your bank credentials, crypto trading platform login details, or information related to your crypto wallet. This is done to make sure that you do not use the same passwords everywhere. In case, somebody breaches your computer safety and gets hold of some passwords then it won’t be easy for him to crack the ones if you have chosen passwords vigilantly.
How To Prevent Yourself From Crypto Scams Or Hacks
Getting trapped in a crypto scam or hack is pretty common in today’s times. It is important that one is educated about such things as they are capable of wiping away all your crypto funds. Hackers can even intrude into systems that have been maintained by most cyber-hygienic traders even with a first-stage safe computer. Therefore, it is essential to move a step ahead to stay safe from such attacks or scams.
The most common attacks are ransomware and phishing attacks that are used to gain access to your crypto funds. Ransomware attacks refer to ones that encrypt your computer or crypto wallet until and unless you pay a ‘ransom’. In the crypto domain, they would generally ask for crypto funds to be paid so that you get your possessions back. However, there is no certainty that you will get access to your assets back if you pay the required ransom. This is due to the fact that hackers would always find ways to extract more money from you.
Ransomware attacks have increased manifold and, in a study, conducted in 2020 by Check Point, it was found that such attacks had risen by 50% in July, August, and September that year. In addition, the United States also saw a higher surge in ransomware attacks in the same time period as they rose by a huge 98%. To keep your computer safe from such attacks it is essential that you do not open spam emails with absurd attachments that could be used to lock your entire system. Never open unexpected attachments from even people you know to protect the safety of computer systems you are engaged with.
In case you have a doubt about whether to download a particular attachment or not, check the anti-malware program that you have installed for a better decision. In addition, a safe computer always does not mean that you should store the majority of your crypto assets online whose data is all stored in your PC. Crypto trading is risky enough and is definitely not a joke, therefore, crypto experts have suggested that one should make use of crypto hardware wallets that store your funds offline. Mostly, they are free from any hacking activities.
Phishing is another common attack that is carried out in the cryptocurrency sector. Scammers would send malicious emails that would contain links to a crypto exchange or wallet. When you open these links, it would seem like a site that is trusted and used by many (in most cases by you as well). You would generally fill in the details as you always do and that is it! YOU ARE TRAPPED!
This website would actually be a fake version of the one that you use, and hackers could easily get access to your crypto funds by the details you enter. It can even breach 2 Factor Authentication (2FA) as even the OTP you enter would be used by them. In order to prevent such scams from harming you, it is essential that you double-check the authenticity of any site you visit. Look for a change in layout or any other loophole. Also, bookmark the verified link to the sites you use. A safe computer is one that has such important information ready, so you are not trapped by scammers.
In addition, if you get emails stating about cryptocurrency wallets that are appealing and attractive to use, please stay away from them. These deals are too good to be true. Also, keep a check on the emails you receive, especially the pens related to crypto. Further, stay away from unregulated third-party apps that promise heavy returns if you provide them with your private key.
The Bottom Line…
A safe computer is indeed necessary for crypto trading as even the most cyber-hygienic traders can face the wrath of it. Not only that, even some popular crypto exchanges that have been known for their security features have been hacked or scammed. In such a scenario, it is difficult for common people like us to maintain our crypto funds. Therefore, ensuring the safety of computer should be the utmost priority. So, make sure that you adhere to the computer safety measures that have been noted in our article and also spread the word about the same to your known ones.
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