The Newbies, did you know that currently Indonesia is ranked in the top 30 below Malaysia and Vietnam in crypto asset ownership based on data from Triple A.
Crypto assets are discussed by Gen Z and Millennials even when they are hanging out, compared to gold and property today, most young people also prioritize investing in crypto assets. Meanwhile, according to data from the Indonesia Stock Exchange, the number of crypto asset owners is considered to be higher than the number of stock investors who have 2.7 million investors.
Well, the higher crypto investors make knowledge of the security of these assets no less important, you know The Newbies.
Crypto cybersecurity analysts conclude that crypto assets are complex and rely only on 100 percent technology. Thus, if our credential code or private key is lost or stolen, our assets are also likely to be lost and difficult to recover.
Besides The Newbies, another risk of losing crypto assets comes from other things, namely exchanges where crypto transactions, develop and store assets. If the exchange goes bankrupt or is hacked, the crypto assets stored on the exchange will also be stolen and there is no guarantee for the security of The Newbies crypto assets.
Therefore, we as crypto asset owners must understand very well how to secure private keys or private keys, The Newbies.
Here The Newbies will share several ways to secure our crypto assets:
1. Using a Hardware Wallet
One of the safest places to store crypto assets is a hardware wallet. This hardware wallet is specially designed for storing crypto assets.
With a Hardware Wallet, we will be given a private key facility on the hardware to make it more secure with very special features.
2. Save Private Keys outside the internet
Today, many crypto investors are more familiar with physical security than digital, so most of them choose to convert their crypto assets into physical forms such as Bitcoin.
Bitcoin's private and public keys are actually just a long set of letters and numbers, as long as we know this set of letters and numbers we can access and control the Bitcoins we own. By copying the private and public keys on a piece of paper, you can choose to keep them yourself as in a safe or in a secret place. This way of storing crypto assets is known as cold storage.
3. Backup Wallet
Even though technology is very sophisticated, and we have anticipated everything, failure can still happen. In cases like this, it is important that we have a backup wallet.
With this backup wallet it can help us to recover the wallet even after our device is stolen. What we need to do The Newbies is to back up our wallets, especially if we are still using an internet-connected wallet. This Backup Wallet can be in the form of 12-24 words which we call a seed phrase.
4.Use Multiple Wallets
If we have crypto assets, then we should never just put them in one wallet. This applies whether we have physical assets and digital assets, you know, The Newbies.
Some investors keep their crypto assets in multiple wallets, and only a small amount in online wallets. Thus, when we lose access to one of our wallets, we will not lose all the assets we already have.
5. Use Multisignature
The Newbies if we store large amounts of crypto assets, we should also consider using a multisignature wallet address. This multisignature wallet is also suitable for companies that store crypto assets.
With multisignature wallets, it is necessary for several parties to store several private keys for one wallet. Thus one cannot arbitrarily take crypto assets without knowing all the private keys.
6. Inheritance
Investors who have long-term thinking must do this way, which is to provide crypto access to families, for example children or grandchildren for their future provisions.
The easiest way is to share wallet with family using multisig wallet. That way, if something untoward happens, the family can still access the crypto assets that we own.
So that's it The Newbies, 6 steps we can take to secure crypto assets when there is a threat from thieves and hackers.
By the way, how many The Newbies crypto assets are there? Please share.
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