Looking to keep you secure crypto coins secure? Unlinkable and untraceable coins like Monero are awesome, but you still need to keep them somewhere. Ask Binance users just how many Moneros they’ll have left in their wallet when the next hack comes. Now, I have nothing but respect for Binance in so many ways. But history shows that when you start doing business in crypto before anything else you need to be looking for the right exchange. Otherwise nothing else you do matters.
We learned in 2019 that hackers aren’t asleep at the wheel, packing some serious hardware and making real progress as we speak. This fabulous new year gave us a 2020 vision for the upcoming successes a closing Xmas Present of a pandemic that’s about to wipe the humanity ofа the face of the Earth – and also an all-time record since the beginning of records – of 12 exchanges getting hacked, on average one a month.
Didn’t I warn you about keeping your funds in one place? Private means private.
Wasn’t I yapping on and on about the dangers of creating a flawless decentralized system, the beauty of which was to have no single point of failure – and then putting a centralized system with a single point of failure on top of that with all the private keys in one place? Those users could as well have written their private keys on paper wallets. Well, now it’s too late.
All we can do is learn from the mistakes of those who came before us and catch the torch just in time so the race can keep on going.
A minute of silence, please, for those who took the bullet for us. We remember you:
- ✞ LocalBitcoins;
- ✞ Cryptopia;
- ✞ Coinmama;
- ✞ DragonEx;
- ✞ CoinBene;
- ✞ Bithumb;
- ✞ Binance;
- ✞ GateHub;
- ✞ BITPoint;
- ✞ VinDAX;
- ✞ Bitrue;
- ✞ Upbit.
Where to find the most secure crypto wallet for your cryptocurrencies?
It goes without saying that if you’re going to trade you’ll need a wallet. Without a wallet, things are slightly more difficult.
Post pigeons, if they’re not snatched by hawks, tend to get distracted by every bit of pretty tail flying nearby.
Telegrams take ages to deliver (and they don’t even make any sense).
You can get your money delivered to you on a sleigh of Huskies through the North Pole, but those little paws slide on the ice, so delivery times vary.
The fastest way of sending money is by getting a crypto wallet. And best crypto wallets are built into exchanges with plenty of security precautions. Most of which, by the way, including the most secure encryption algorithms and ways to arrange the most secure crypto payments, they are not allowed to divulge to the public. This makes your search for the best secure crypto cryptocurrency wallet even more difficult.
Then again, you could get a bank account. They’re definitely secure. Only 561 of them failed since 2000.
Top secure crypto exchanges: how even the best fall
The fact that even someone as legendary as Binance may fall victim to an attack should tell you something about the many ways in which trouble may come knocking on your door, no matter how good your security features are. Are you using TOR? Is there a password on your PC? Do you leave your credit card details out on the Internet when you shop? These are only a few questions you can ask yourself if you’re going to take your security seriously.
What matters though is finding an exchange that keeps your funds secure. But if everyone you know is getting hacked, how do you even begin coming up with the characteristics you should be looking for?
Personally, I think that security mechanisms declared on the site matter but what you’re looking for is the exchange’s background.
Security Factors to look at when choosing an exchange
|Validity||Before you start trading, we urge you to ensure you can access the exchange from your location|
|Reputation||Are people happy with the service the exchange provides? Have they had any serious complaints? Was the exchange ever involved in any scandals?|
|Exchange rates||Different exchange platforms have different exchange rates. Check which ones suit you the best|
|Safety||Always give preference to exchanges that require some sort of ID verification – they are your best bets|
The most secure crypto exchange: where to look?
To quickly recap:
- Hackers are constantly on a prowl.
- To trade crypto you need a wallet.
- Wallets should be surrounded by the protective functionality of the exchange.
- A secure crypto exchange (like a good man) is hard to find.
- Especially because security mechanisms are usually NDA’d.
- And if they’re not, they should be.
- So where do you find the best secure crypto wallet?
What to look for
So you don’t know how secure any exchange is for two reasons. First, they’ll claim they are but still get hacked. Second, they’re not allowed to prove how good they are except for the now-standard two-factor authentication and a couple more fancy but not-so-effective tricks like email confirmations.
A standalone wallet is even worse. As a rule, the more users an exchange has, the better – the more money it has to spend on security. A wallet is just a wallet.
Just tell me how already
The best exchanges, when it comes to security come from places with a good background. In other words, if you want to make sure your funds are secure, what you need is an exchange from London, the US (swoon, Switzerland), or one of those countries that place a lot of emphasis on their security. And that’s the only way to tell.
Nominex is an exchange that comes from the world’s cybersecurity, Estonia, and was born next door to the world’s largest live-fire cyber exercises training ground and The NATO Cooperative Cyber Defence Centre of Excellence among other things.
There’s officially no better place to look for amazing security. While Nominex isn’t allowed to tell you exactly what’s up, you can certainly make your time with them worthwhile with tournaments that offer you the opportunity to win real money with no starting capital, more bonuses than you can count, dramatic discounts, sleek anв sexy user interface, pretty stellar passive income (beware the $50 000 a week cap), obviously the standard security measures like cold storage, email confirmations of withdrawals, and so on – and really interesting blog authors. Those guys are pretty genius. Check it out!
Let me know how it goes by commenting below or, if you really liked the article, sharing it on social networks.
P.S. Don’t forget to get a hardware wallet.