In the short period of time, cryptocurrencies has gained a huge popularity across the globe. There are thousands of people who have invested in these bitcoins and are using these coins to make online purchases and to play gambling. Though, this is highly securely, but often for every secure system there would be a loophole which hackers take advantage to steal these coins. In fact, these coins are mostly prone to thefts in cyberspace. The popular method that is used by hackers to steal bitcoins is hacking the phone. The scammers will have a conversation about this digital currency on social media sites and exchange their personal email addresses and phone numbers. By pretending as the victim, the hacker will call the network provider to transfer the number into their mobiles. Hackers use the mobile number of victims to enter into their bitcoin wallet and reset the password to steal money.
Few of the tips that are to be embraced by the bitcoin users to protect their digital wallet include
• Be careful while clicking on the pop up messages and malicious links on various sites
• Use two step authentication provided by Google while entering into the exchange to carry out crypto currency trading
• Be the client of exchange to be flexible, authoritative and protect your wallet from identity frauds. You need to keep an eye on news. If people are leaving the platform, this signifies that there are technical issues and withdrawal has become quite cumbersome.
• Backup your wallet. You can recover when your phone is lost or is prone to any technical glitches with ease
• Encrypt the wallet and set a strong password to it to avoid fraudsters from compromising your wallet. Install anti-virus on your phone and computer through which you are carrying out digital transactions.
• Set a strong and complex password that is hard for hackers to crack
• Do not share your crypto currency wallet details and balance on social networks