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How To Master Crypto Protection: Insights From Experts at FCS Recoveries

A hooded person holding a Bitcoin


Navigating the turbulent waters of cryptocurrency is a venture lacеd with both еxcitеmеnt and caution. As thе crypto landscapе еxpеriеncеs soaring adoption ratеs, it also grapplеs with a rising tide of sеcurity brеachеs and hacks. In 2022, thе crypto community facеd its blеakеst yеar to datе, with hackеr-drivеn lossеs rеaching an unprеcеdеntеd $3.8 billion, an incrеasе from $3.3 billion thе prеvious yеar, as rеportеd by blockchain еxpеrts at Chainalysis. Thе calamitous еvеnts surrounding cеntral banks and major platforms likе FTX furthеr еxеmplify the alarming situation, with dirеct losses summing up to $1.8 billion.

That said, to fortify your crypto holdings against such uncеrtaintiеs, еmbracing specific security habits and practices is not just rеcommеndеd but vital.  Numerous firms, including FCS Recoveries, are dedicated to assisting clients in safeguarding their cryptocurrency. They provide essential services to ensure the security of digital assets and assist in the retrieval of stolen funds when necessary.

Following are some tips shared by the company’s experts for crypto users to enhance the security of their holdings.

Utilize non-custodial cold/hardware wallets:

In the crypto world, the security of your cryptocurrency assets hinges directly on how securely you store and manage your private key.

Cold non-custodial wallets, particularly hardware wallets, stand out as one of the safest avenues for storing cryptocurrency. These are physical devices, ranging from USB drives to specialized hardware with tailored security features, that store your private keys offline.  These wallets shield your private keys from online hacking attempts, which frequently target software-based wallets. Essentially, when used judiciously, these dedicated devices offer superior security compared to storing keys on internet-connected devices.

Use a password manager and 2FA:

To bolster the security of your crypto assets, take two pivotal steps: utilize a password manager and activate two-factor authentication (2FA).

Opt for an intricate password, preferably 16 characters or longer, unique to that account. Password managers can specifically assist in generating and recalling these complex passwords. Complementing password protection, 2FA acts as a crucial added layer of security, necessitating a second form of verification—often a temporary code sent to your email or mobile number. This two-tiered check considerably toughens the barrier against unwarranted intrusions, bolstering the shield around your crypto holdings, particularly amidst a rising tide of digital dangers.

Graphic illustration of Bitcoin


Adopt safe cyber habits:

For optimal crypto safety, it is essential to practice vigilant cyber habits. Always verify the security of unfamiliar networks before accessing them, as dubious networks and websites can jeopardize wallets stored on your devices. Try to go for private email addresses and avoid leaving your devices unattended or lending them out. If requiring external service on a device, ensure all funds are removed from the crypto wallet beforehand. Moreover, beware of hackers masquerading as tech support; legitimate companies will never request passwords, 2FA codes, PINs, or remote computer access.

However, should the misfortune of a cryptocurrency theft befall you, do not lose hope entirely. Multiple paths remain open for possible asset retrieval whereby you can seek out esteemed fund recovery entities. FCS Recoveries is a key player in this arena that delves deep into forensic cryptocurrency probes and intricate transaction disputes. Their tech prowess proves invaluable to individual victims as well as to law enforcement agencies, trading platforms, and banking institutions, expediting inquiry processes and trimming down the duration of funds recovery.

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