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Safeguarding your Cryptocurrency

Posted by The Neal and Janet Brown Family Trust on April 29, 2022 - 9:16pm


Advice and recommendations for protecting your accounts as much as possible from hackers and thieves.

 

I had almost $1,000 worth of coins stolen from an exchange account around 4 years ago, because I failed to enable 2FA!  EVERYONE MUST (in my opinion) enable 2FA AND use a RANDOM password.  For example you pull up a list of 6 (or another length of words, ie: 4, 5, 7, or 8 letters) letter words and keep it handy, and then every time you need to generate a password you do something like this:  

Word - mixers

Example password - 

M8i3X1e6R5s2@*%!

 

This password will be classified as VERY STRONG by virtually every site  because it contains NO words, NO phrases. Alternating case, intermixed letters & numbers, AND multiple special characters.  There's no such thing as an un-hackable password, but between this incredibly strong password AND your 2FA, it's as close as you can get to 'un-hackable'.

 

You need to use a secure password manager such as Norton or Roboform (my preference partly because I have used a purchased copy for over 20 years now).  I have Norton's password manager as well thanks to the merger of Lifelock & Norton a couple years ago, since we were already Lifelock customers.  I recommend that if you can afford the $35 or so per month (per person), that you get Norton/Lifelock ASAP.  They will then use a lot of technology to track every online account linked to you and your significant other, and can alert you when they find your login and password on one of the dark web *lists* of hacked / stolen login pairs. If they alert you to a problem, you need to run and fix it.

 

If you have ANY account that is linked in any way to a financial account, you need to make certain that both linked accounts have 2FA turned ON. Yes 2FA is tedious, but it in conjunction with a rock solid password is your best shot at keeping your money in your account(s).

 

All content here in this post are Copyrighted ©️June 7, 2021 by Neal Brown, Trustee, The Neal and Janet Brown Family Trust. All rights reserved globally. All copyrights, trademarks, servicemarks, etc. belonging to other companies remain their property. The copyright notice above refers only to the specific content that is owned by Neal Brown, Trustee, for The Neal and Janet Brown Family Trust.