Investing in cryptocurrencies is risky, a problem that keeps many prospective cryptonauts away from the market. In this case, we are not talking about price fluctuations that can render a digital token worthless in a heartbeat. Instead, we mean the ability to secure your digital assets and keep your cryptocurrency wallets safe. Unfortunately, there are no cryptocurrency banks, so the responsibility belongs to the owner alone. Also, there are no regulations, insurance, and other protections typical of the traditional financial system. So if you get hacked, there’s little you can do about it.
So if your Bitcoin or Ether, or any other cryptocurrency is stolen or lost, getting it back is exceedingly tricky. Your digital assets need protection, and only you can do it.
Granted, online transactions are risky. But you can do plenty to minimize the risks and remain safe. Those safety practices will also help you keep your digital currencies safe.
If you’re going to get serious about cryptocurrencies, you’ll need a digital wallet to keep your assets offline and secure. That is not so different from keeping your traditional bank account safe. However, there are differences, as you probably expected already.
It all starts with a private encryption key that you must keep safe. It is the first step in owning a crypto wallet. So how do you keep that key safe? This article will tell you.
Do crypto wallets get hacked very frequently?
Cryptocurrency is becoming increasingly popular. And the threats to crypto owners are also growing and evolving to suit the new times. The more people get involved in the crypto verse, the more sense it makes for hackers to devise attacks.
