With crypto assets and digital currencies becoming new financial standards, there’s rising concern about securing them from hackers and attackers. Here’s the right article if you are also worried about your crypto assets.
Below we will discuss the rise of the crypto world and equally increasing security risks. Moreover, we will also discuss how PlasBit Wallet emerges as a decent solution to secure your digital assets and data. Ultimately, you will get valuable tips to protect them on your digital wallets further. So, without further waiting, let’s start!
Rising Popularity of Crypto Assets
We’ve seen a massive surge in crypto popularity in the following years, where Bitcoin was the most dominant in cryptocurrencies. Thanks to Ethereum, dApps make an entry in decentralized finance. At the same time, it also gives us the concept of passive income through staking—moreover, other side products, like NFTs metaverse, stablecoins, crypto trading, and others.
Their simplicity, affordability, versatility, and advanced mechanism make these crypto assets a hit. People don’t need to include third parties (such as banks) while transferring assets. Resultantly, it reduces the fee or commission these third parties charge. Moreover, you can select from thousands of assets to send across borders and overseas.
Challenges & Complications
With this ever-increasing popularity, the industry has also attracted many unwanted eyes. Several hackers and people with illicit intentions have become active in this more than $46 billion industry. It has raised security issues, where many crypto exchanges suffer hacks and security breaches.
In 2022, hackers stole more than $20 billion from the crypto exchanges. The largest hack occurred in the same year to the Ronin Network, where they lost $625 million. Even the giants like FTX and Binance became the victims of these criminal activities. So, people’s digital assets are at risk, and maximum-security measures get essential.
Additionally, device security is a significant factor since most people assign trackable and easy passwords, which hackers easily break through. It becomes even more vulnerable when they attach their digital wallets to a phishing or pirated website with compromised securities. Hence, a significant step is required to address these security challenges and protect the user’s data.
How Does PlasBit Wallet Help?
PlasBit has emerged with the required solution with the PlasBit Wallet to help people and crypto users secure their crypto assets. Our non-custodial wallet ensures and practices industry-standard security measures while implementing necessary actions from the user’s end. Below is a short list of features, practices, and measures you will get while storing your crypto assets in PlasBit Wallet.
● Cold Storages
We store all the user’s data and assets in cold storage and offline wallets. These storages have no access to the internet, which practically makes it impossible for any hacker or an illegal bot (like a virus) to penetrate the system digitally. The servers are located in secured locations in multiple regions.
So, your assets are distributed at different geographical locations, including your cryptocurrencies, NFTs, various tokens, and other digital assets. Moreover, your login credentials and the actual assets are stored separately, reducing the vulnerability of data loss to almost none.
● Account & Device Protections
PlasBit Wallet not only secures your data on cold storage to protect them on our platform’s end, but you also get maximum control to secure your data on your devices. First, you can set up a login password or even a biometric authentication on your device, limiting others from unnecessarily entering your account and wallet.
Additionally, you can further increase security with the two-factor authentication. By enabling 2FA, no one can log in to your account on another device unless you confirm the process via an authenticator app or passcode in a separate device.
● Industry-Standard Security
Besides PlasBit Wallet, we have also implemented the highest security standards on our website. The PlasBit website works on the ISO/IEC 27001 standards, the most secure and industry-leading information security standards. The sophisticated and proven technology makes it almost impenetrable for someone with foul intentions.
Since only our company’s system and functional data are online to make it accessible, the high-security protocols provide the proper safety to protect our users. So, you can easily make transactions on PlasBit without worrying about any issues.
● Other Perks
PlasBit Wallet not only offers you a secure solution for your crypto assets, but it also has many other benefits you can enjoy while making transactions worldwide. First, you can quickly pay for your shopping globally from your crypto wallet. Our wallet will automatically convert the cryptocurrencies to the fiat currency of that country when you pay from the bank/wire transfer or use PlasBit Card.
Conversely, our wallet will solve your multiple Internet banking problems by being faster, more innovative, and more versatile. The transactions are available in several regions for numerous purposes. So, PlasBit Wallet can serve as your all-in-one digital wallet, whether storing your crypto coins securely or paying for your shopping (online or in outlets).
Other Tips to Secure Your Crypto Assets
Although PlasBit Wallet will provide you with all the necessary security measures, you can also follow other practices to further secure your digital or crypto assets. Below are a few tips and techniques to protect your assets the best.
- Use Hardware Wallets: Your crypto assets will be secure on our wallet (or the digital wallet you use). However, storing them in a hardware wallet will be a wise option if you cannot access your digital wallet.
- Double-Check for Phishing: Before connecting your digital wallet to a platform or any other location, connect it to the right platform. Double-check the URL and the site to confirm it’s not a clone for phishing.
- Create Strong Passwords: Don’t use “Password” or “1-8” as your password. Create a strong one (suitably ten characters long) containing upper- and lower-case letters, some numbers, and some special characters. If you’re afraid of forgetting, note it at a secure location.
Security issues have risen a lot with the surge in cryptocurrencies. However, PlasBit Wallet has addressed these issues through its secure, fast, and flexible infrastructure, protecting your assets in cold storage at the highest encryption.
Additionally, you can improve security by using a hardware wallet, creating stronger passwords, and being careful about phishing sites. The PlasBit Wallet will reduce the hassle, so you can sign up for an account today to protect your assets digitally.