The world is becoming easily borderless, and you can do several activities and transactions via the same account anywhere in the world.
However, the more popular cryptocurrency gets, the more subjective it is to security hacks and breaches. This is why the Coin Return Group, a crypto recovery company, shared with us six easy ways to protect your crypto assets while travelling. The details can be seen below.
Ways To Protect Your Crypto Assets While Traveling
Here are some ways to protect your cryptocurrency while seeing the world or on a journey.
Use A Multi-Signature Wallet
It is essential to keep your wallet backed up in case you lose your device or it gets destroyed. Your hardware wallet should be kept safe and backed up on multiple devices so you don’t lose your account in unexpected circumstances.
Creating A Google Voice Account
You can easily use your cell number or landline to trace your identity. Thus, it is essential for one travelling with crypto to use their Google Voice phone numbers for their different transactions. Coin Return Group also suggest that your Google Voice account be linked to another email asides from your popularly shared one.
Authenticate Your Wallet
The crypto community is tech-centric, meaning you must protect your digital wallet. It is essential to activate two-factor authentication on your crypto accounts.
Use Crypto Maps To Determine Bitcoin-Friendly Areas
Crypto is volatile in value and adaptability. Thus, you must identify areas where crypto is acceptable. An example of a crypto map you can use is Coinmap.
Use A Strong Password And Change It Regularly
Coin Return Group suggests creating a strong password for your account and that this password is changed regularly.
Watch Out for Scams And Phishing Attacks
Be careful where you download software from. Software from unknown sites may contain malware.
How To Secure Your Private Key and Seed Phrase
Your private key and seed phrase is essential information that should not be divulged or shared. They are the automatic access to your wallet. Thus, it is necessary to learn how to keep them safe.
Do Not Save Them on an Internet-based device.
Saving your private key or seed phrases on a digital device can be very dangerous as it may be hacked and compromised. You may also lose it in case of a virus. It is advisable to save them by offline means.
Secure Them by Offline Means
A piece of paper can be lost, destroyed, or easily accessed. You can save this private information in a safe deposit box with your bank.
In summary, it’s best to secure amounts you won’t need to access soon, such as savings in a cold wallet. Hardware wallets provide better offline critical protection. However, backing your key up is good, as hardware wallets can get lost or destroyed. Online wallets are best used to keep small amounts like a physical wallet. This is in case it gets hacked or inaccessible. The amount lost will not have a devastating effect.