7 tips from leading Wallet developers

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With crypto-online is a pleasure to pay: it’s fast, private, cheap, and there is no risk that your transaction will be rejected by the Bank. However, crypto-Wallets have their own risks. Here are a few tips from the makers of the new CoinsPaid wallet, which will help You in your digital currency safe.

Crypto payments are enjoying rapidly growing popularity, in particular in cross-border transactions and in industry sectors where it may be difficult to pay with a card, such as iGaming. Unfortunately, the number of scams is increasing: according to statistics, 9 million dollars in crypto, payments are being lost every day by hackers, phishers and crypto thieves of all kinds.

In order to protect your crypto stocks, You need to stay vigilant and follow some simple rules to follow. The Team of Cryptoprocessing.com – the world’s leading crypto-payment service in the iGaming industry, has now brought his own Wallet, CoinsPaid, out – has put together a handy check list.

1. Establishment of 2FA

In the case of the Two-factor authentication you need to enter additional Information from another source, if you have access to the Wallet like. This can be sent via SMS or E-Mail, but the most common method for Web-Wallet is the Google Authenticator. This just install on your Smartphone, and it is You each Time you log in, or a confidential transaction want a new, time-limited 6-perform-digit Code deliver.

It is not recommended to use Web Wallet interfaces without Two-factor authentication. For the CoinsPaid-Wallet, for example, you have to 2FA from the beginning, i.e. at the time of the registration, activate.

2. Keep Your private key safe

The access key for the Wallet may have different names and forms: master key, a private key, a start phrase, etc. In any case, You should store the key in a place that is not connected to the Internet. You can use it on a sheet of paper or in a text file on a Flash drive to copy, You use for no other purpose. Make several backup copies on different media and remember, of course, where you keep these. Transmitting this key in a E-Mail, WhatsApp, message etc. to yourself.

3. Learn Phising-to recognize websites

A Phishing Website or App can spend up to the smallest Detail as an existing crypto-Wallet – only the address of the page will vary slightly. Before You type in your starting phrase or the private key in the Wallet, make sure the URL is correct.

The Chrome Store is notorious for its dozens of crypto-Phishing enhancements, especially for Hardware Wallets like the Ledger. Although Google removed every month, tens of to dive you again and again. In March, 2020 steel such extension in excess of 250,000 dollars in Ripple Coins from the Wallets of the users. And in June 2020, the crypto-Podcast-Host Eric Savics all of his 12 Bitcoins lost, after he had entered his Seed Phrase in a fake Ledger extension.

4. Do not click E-Mail Links and Ads

Phishers often send E-Mails from an address that mimics the real E-Mail address of the Wallet. If you use, for example, the CoinsPaid-Wallet sends You a Phisher may receive a message from a fake address such as [email protected] instead of [email protected] (The only difference is the hyphen)

Such E-Mails try to create a sense of urgency by saying that Your account is compromised or blocked was hacked, and insists that You can click on a Link, in order to protect it, to update the security system, etc. The Link leads to a fake page that could install all of the information you enter there, steal or Malware on your device.

The same applies for Google Ads, which have often Phishing sites like this-the difference in the URL:

5. Check the security features of the Wallet

If You are using a Web Wallet, make sure that the URL begins with ‘https://’, not with ‘http://’. This means that the Site has an active SSL security certificate and that the data that You exchange with the site are encrypted.

Then Google about the latest news about the Wallet. It was involved in a theft, Hack, or any shady dealings? You could try to search for “(Name of the Wallet) + hack”.

Also check if the Wallet has passed a safety audit. For example, cryptoprocessing.com – the platform has passed behind the CoinsPaid-Wallet – recently, a comprehensive review by Kaspersky Labs.

6. Avoid public WiFi

Not to grab your Wallet while You’re connected to an unprotected public WiFi network. A secure WiFi at home to use instead. If You don’t have to necessarily send crypto, while You’re at home, use the mobile data connection of your smartphone. If You are using a Laptop, make the connection via a Hotspot on your phone. If public WiFi is the only way to establish the connection via VPN.

7. No re-use of passwords

When the Wallet requires You to put your own password, make it different than most. Over 50% of all people use the same password for different services: for your E-Mail, Facebook, Online Banking accounts, crypto-Wallets, etc., If a cheater or Hacker gained access, he can access all of your accounts and Wallets, and not only your crypto accounts, but also your identity to steal.

Choose a password that contains letters, Numbers, and special characters, and for you a meaning. It should not be your birthday, the Name of your dog, your phone number, and other obvious things, but something only You know personally. If you prefer to have ready access to the password, you can have a Manager App like LastPass or KeePass install.

On the way to a better Wallet Security

The security of your crypto-assets will depend on both your Wallet as well as yourself. If You choose an unknown, dubious Wallet may be stolen and your credit from their servers, no matter how secure the password is. At the same time a safety-approved Wallet is a robust server protection does not help if You give your private key to the scammers price. But as long as You are a developer, follow the 7 recommended tips on the CoinsPaid-should be your Bitcoins safe.

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