Crypto hackers have stolen $4+ billion in the last 2 years.
If you are not careful, you'll be next.
This article shares 8 security practices that everyone should be using.
If you already have multisig, virtual machines, 3 identities, your own email servers, a nuclear bunker and a lifetime supply of ramen.
Then you won’t need this guide,
For everyone else let's begin.
1. Crypto Storage
Hardware Wallets (Tier 1) - Ledger, NGRAVE, Trezor
Paper Wallet (Tier 2) - Easily lost and damaged. But costs only time.
Desktop wallet (Tier 3) - Only as safe as the system they are on. Not Ideal.
2. Emails
Old emails with weak passwords are a common point of entry for hackers.
If you’ve had it for a while and used it for multiple websites, chances are you want to get rid of it.
3. VPN
Most main providers are good enough (nord / express).
You can take your privacy even further and try something like Mullvad.
4. 2FA
2FA everything.
Cold 2fa Device (Tier 1) - Yubikey or Google Titan
Custom 2fa Device (Tier 2) - Cheaper option is to buy a cheap phone, download 2fa, swap it to flight mode forever.
Note: 2FA can be circumvented, it is not an absolute defence.\
5. Passwords
This is where we disproportionately limit the damage a successful hack can do to us. I’m going to share a multilevel system I’ve built for myself.
There are two tiers of data.
Level 1 Data
Level 2 Data
Level 1 Data
To determine if your data is level 1 ask yourself this.
"If a hacker had access to only this information, would they be able to attack me?"
For example, if a hacker gained access to your private keys, they could directly access your cryptocurrency.
Level 1 Data Rules
- Keep offline
- Never be stored on your laptop
- When entering these passwords, you will alternate between using your actual keyboard and an on-screen keyboard
- These passwords will be a minimum of 15 keys long and as complex as possible
- Have back ups
Level 2 Data
Any data which on its own cannot grant the hacker access to any of your funds or important data is considered level 2.
This means If a hacker were to gain access to a level 2 password, they would still be unable to actually access anything vulnerable.
Level 2 Data Rules
You can randomly generate by your password manager and should never be typed, always copy and paste from your manager without revealing the password in case you are being watched or key logged.
6. EXCHANGES
Don't trust any sketchy exchanges with your crypto.
-Deposit only what you need to buy/sell.
-Use reputable exchanges like Binance.
- Use 2FA
-Set a global lock that requires a minimum wait time before settings are changed
-Whitelist your addresses and set a lock on adding new addresses
-Use leverage to reduce counterparty risk
7. Advanced: Separate computers
Separate computers are an expensive option so decide if it’s worth the investment relative to the value of your online security and assets.
-High Security Computer
-Low Security Computer
High Security Computer
Used only for handling crypto, banking, trading and other sensitive activities.
Your high security device is never to deviate from essential websites or click on any links.
All it takes is one mistake to compromise your security.
Low Security Computer
For all other activities, you can use your low security device.
There should never be crossover between these two devices.
8. PROTECT OTHERS
Someone you care about getting attacked can be leveraged against you.
Share this with others and make sure they are as protected as you.