THE DIGITAL REALM — As cryptocurrencies have gained in popularity, so have thefts involving digital coins.
Hackers have several methods at their disposal to steal cryptocurrencies, including brute forcing, phone-porting, phishing, ponzi schemes and mining malware, according to Visual Capitalist.
When it comes to digital currencies, how secure your digital wallet, your private keys and any systems they use to make transactions is of utmost importance.
Install and run antivirus software on your computers and smartphones. Be careful opening up any suspicious emails, and set up two-factor authentication whenever possible.
Encrypt your hard drives and mobile devices, and make backups of them as well.
Finding a trustworthy exchange is also important.
With a centralized exchange, you allow the exchange to manage the security of your funds on your behalf. Unfortunately, this makes centralized exchanges a perfect target for hackers.
Decentralized exchanges allow for direct peer-to-peer cryptotrading, during which the exchange is never in control of your funds. Decentralized exchanges also do not have access to your private keys.