How to Protect Your Cryptocurrencies During the Holidays

1. Use a Hardware Wallet

A crypto hardware wallet is one of the most effective ways to secure your cryptocurrencies. Unlike hot wallets that use the internet, these physical devices store your crypto offline. That way, they are immune to online hacking or similar attempts. 

Though hardware wallets are not free, you can find affordable options that offer the highest level of security. 

2. Use Strong and Unique Passwords

Sure, it seems like a basic thing to get a password. But, don’t underestimate the power of a strong and unique one. 

Here are some tips when it comes to passwords: 

  • Avoid using easy passwords like your date of birth 
  • Also, avoid generic passwords like “Password” or “1234”
  • The best bet will be to use a combination of upper and lower case letters, numbers, and special characters. 

You can also consider using a good password manager to help create and save strong passwords for your crypto accounts.

3. Set Up Two-Factor Authentication (2FA)

Two-factor authentication adds an extra layer of security to your crypto accounts. Enabling 2FA is a simple yet highly effective way to protect your cryptocurrency accounts from unauthorized access.

For example, there are many 2FA features you can set up on your Quidax mobile app. These include receiving a one-time passcode on your Email to complete logins and protecting your account using Google Authenticator. 

4. Beware of Crypto Phishing Attacks

Phishing attacks are common methods hackers use to steal your sensitive data on your crypto websites or mobile apps. To avoid such scams, be cautious of funny-looking Emails, messages, or links from unknown sources. 

In addition, ensure that you visit and trade on the official website of the cryptocurrency exchange or wallet provider you use. For Quidax, that is https://quidax.com

5. Update Your Software

Your computer, smartphone, and other devices update their security software from time to time. Ensure you download and install the latest security updates when they are available. 

6. Avoid Public Wi-Fi Networks

There’s always the temptation to use a free, public Wi-Fi when you see one – hey; we all love freebies. But, as much as possible, avoid them. 

Whenever you want to access your crypto accounts on a public Wi-Fi network during the holidays, use a secure and private internet connection, like a virtual private network (VPN). 

7. Stay Updated With Trends 

Read and understand the latest security threats and work with the best practices for cryptocurrency protection. For example, learn about the most recent scams and security threats, and regularly review your security measures to ensure you stay on top of things. 

8. Use Whitelisting

Whitelisting allows you to add a list of trusted wallet addresses to which you can transfer crypto. Many cryptocurrency wallets and exchanges offer a whitelisting feature to help customers prevent unauthorized withdrawals to unknown addresses.

9. Reduce Social Media Sharing

We are in the era of monthly dumps on Twitter, Instagram, and other social media platforms. During the holiday season, there’s even more stuff to share due to many fun activities. But as much as you’re tempted to share your experiences, avoid revealing too much about your cryptocurrency holdings online. 

Sharing this information can make you a target for criminals who may attempt to steal your crypto.

10. Backup Your Wallet

Having a safe crypto wallet to store your coins isn’t enough. Back up your wallet’s private keys or recovery phrases and store them in a secure offline location. This way, if you lose your physical wallet or experience a device failure, you can still recover your cryptocurrencies. 

Final Thoughts 

The “ember” months are filled with numerous activities, but protecting your cryptocurrencies during the festive season is crucial. We’ve highlighted the best 10 security tips to help you enjoy the festivities with peace of mind, knowing that your coins are safe. At Quidax, our goal is to ensure you have a fun and secure crypto trading experience in one place. If you need help activating any of our security features, don’t hesitate to contact our dedicated Quidax support team after downloading the Quidax app on your Android or iOS devices.


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