With the value of cryptocurrencies like Bitcoin and Ethereum rising every day, there’s never been a more exciting time to invest in digital assets. If you’re new to the world of cryptocurrency, you’re probably wondering: what are the safest
places to buy cryptocurrency?
While blockchain technology is pretty secure, cryptocurrency transfers can’t be reversed, so it’s hard to recover your money if it’s stolen. We asked the experts at ESET about the best and safest way to buy cryptocurrency, and what to do
with your coins once you have them.
They said that before investing, it’s important to research the type of cryptocurrency you’re looking into and the platform you’re planning to use. Those basics aside, there are a few ways to protect your purchase from a
cybersecurity standpoint.
#1 Use a Virtual Private Network (VPN) whenever you’re buying crypto.
VPNs secure your WiFi connection, encrypt the data you send and receive and hide your IP address. By doing that, they help you stay private and anonymous online, and they can be set up on desktops, laptops and smartphones so you’re
always protected.
In terms of crypto, VPNs add another layer of protection against malware, viruses and phishing attacks, and make it harder for hackers and other cybercriminals to track your IP and figure out who is buying and selling crypto.
When choosing a VPN, there are two key features to look for. A no logs policy means the site won’t collect your browsing data, so anything you do online is completely anonymous — and will never be sold to advertisers and other third parties. Secondly, VPNs with a kill switch function will cut off your internet connection without leaking your IP address if there are any system failures.
#2 Tighten the security of your online wallet
The best way to store cryptocurrency is to sign up to an online wallet such as Binance or Coinbase. These wallets store your coins, and can be accessed with a username and password. However, as you’ve probably guessed, they’re not the
most secure systems.
Luckily, there are a few steps you can take to create the safest crypto wallet:
- Use an email address specifically for your online wallet. If you can, avoid signing up to your wallet with the primary email address you use for social media, online shopping and to communicate with friends, family members and your network. Since hackers only need a few pieces of information to unlock your wallet, using the same email for everything makes their job easier. It’s a good idea to use a different email address for your wallet, and your wallet only.
- Activate multi-factor authentication (MFA). This requires you to enter your username, password and an additional piece of information to log into your online wallet. It’s usually a code sent to your phone or email, and this means hackers need to crack multiple accounts to get the info they need. MFA also helps to prevent data breaches and protect the private keys of blockchain participants.
- Change your password regularly. Come up with a complex, obscure password for your online wallet, made up of a mix of letters, numbers and symbols. It should be at least 12 characters, and not reveal any personal identifying information. Then, switch up your password to your safe wallet for cryptocurrency every three months to stay one step ahead of hackers.
#3 Install a secure antivirus software
Once you’ve purchased crypto, sophisticated antivirus software can help protect your wallet and keep your coins safe. ESET Cybersecurity Pro is compatible with most operating systems and offers a multilayered defence against a range of
cyberthreats. These include the most popular cryptograms, like ransomware, malware, identity theft and phishing emails.
If you use an Android device, go for ESET Mobile Security. It offers the same level of protection, and you can install it on your smartphone, tablet and laptop under one shared license.
#4 Encrypt your disks and devices
Most cryptocurrency trading platforms are hosted on secure servers with end- to-end encryption, which limits information access to the people who need it. You can boost that security at home with ESET PROTECT Complete, a software that encrypts stored data, such as your login credentials and other sensitive information. It also helps to prevent unauthorised users from accessing your blockchain and making transactions.
Invest in crypto with confidence
ESET’s security solutions can give you peace of mind when you’re trading, mining and storing cryptocurrency. Get in touch with the team today to learn more about how to buy cryptocurrency safely!
