One question; How do you keep your crypto safe?
One of the most interesting innovations brought about by the internet is cryptocurrency.
More than ever before, people are able to move across international boundaries with a currency medium that is acceptable globally.
However, you need to ensure you keep your cryptocurrency safe while travelling. Hackers are getting smarter by the day and are always looking for opportunities to access your funds.
Here are seven security tips for the crypto nomad lifestyle.
Using two-factor authentication for your crypto account is one of the best ways to keep it safe. 2FA involves the use of a strong password in addition to a device you have registered with the account, to be able to access your money. So, to have access to your money a hacker must get your password and your device, which in most cases isn’t very possible. Two-factor authentication will not just keep your account safe but will give you rest of mind and protect your valuable currency.
Smartphone With Internet
When travelling, make sure that you have a smartphone with an internet connection, for your crypto exchange and other digital transactions. Install the wallet app and make sure you access your money only via that application. Once you have this, the temptation to access your wallet through other devices or your own devices that may not be safe enough will be eliminated.
Have A LocalBitcoin Account
You’ll most likely need to convert your crypto to the currency of the country you’re travelling to if you want to buy some things. One way to do this is to have a LocalBitcoin account. With this account, you’ll be able to sell your Bitcoin in exchange for local currency, to a very large extent. LocalBitcoin is fast, easy, and secure, and you don’t have to worry about any hacker problems whatsoever. There are multiple offers available so you have to check and be sure that the person you’re dealing with is not a scammer. Conduct business in open and safe places and ensure that you arrange in advance to meet the seller. LocalBitcoin might not be the fastest way to sell your Bitcoin for local currency but it’s perfect for people who’re planning to stay in their vacation country for a while.
When you’re thinking of crypto safety you can’t do without mentioning hardware wallet. Hardware wallets like Trezor have helped transform the way people buy things using their cryptocurrency. The hardware allows for more than ten different coins and the private keys are never exposed to your computer where it’s easy to steal. The hardware wallet is also immune to computer virus, encrypted with pin #’s, and requires the confirmation of a transaction on your device. Apart from Trezor, other hardware wallet vendors that are recommended include Ledger Nano S and Ledger Blue.
Keep Devices Updated
Hackers are active than ever and will be ready to take advantage of you if you give them the chance. However, you can make things easy for them if your devices and software are not updated. Keeping your devices updated will ensure that you have your cryptocurrency details secured and protected against hacking. Updating your devices will also ensure that your documents are not at risk, prevent you from passing malware to others, and make it possible for you to take advantage of new features.
Find Local Businesses That Accept Crypto
There are many businesses now accepting cryptocurrency in different parts of the world so you don’t need to exchange your crypto for cash. These businesses offer different kinds of service so you’ll be able to buy direct and without stress. Companies like CheapAir.com and Destinia.com allow customers to book a flight directly with Bitcoin. With AXA.Fizzy, you can purchase travel insurance with Ethereum smart contracts easily.
Locate A Crypto Community
You can keep your crypto safe by joining a local crypto community. Crypto communities are a collection of people who are passionate about cryptocurrency and are always ready to help each other. If you are able to locate such a community at your destination, then you have nothing to worry about. You can do a Google search even before you leave your home and start communicating with them in advance. Crypto communities are great for keeping your cryptocurrency safe because everyone you’re dealing with is trustworthy and are always happy to help other crypto enthusiasts find the solution to their problems.
Keeping your cryptocurrency safe is your responsibility. There are several ways to do as I have highlighted above. I, personally use an hardware wallet. Stay safe, keep your crypto safe.
Written by Demi Oye