Safe use of public networks
Open Wi‑Fi networks are convenient but carry many risks. Anyone who connects without protection potentially exposes sensitive data like private keys or seed phrases to attacks, especially when wallets are stored directly on the device.
Avoid accessing your wallet via public networks wherever possible. If it can’t be avoided, use a VPN and ensure your wallet is encrypted. Keep larger amounts offline and never store all keys on a single device. In general, a VPN can significantly reduce the risk of attacks in public Wi‑Fi.
Important tips:
No wallet access via public email accounts.
Don’t leave devices unattended or lend them.
Remove wallets before sending devices for repair.
Update software regularly
Outdated software is among the most common security gaps if you want to store crypto safely. If you don’t keep your devices and wallets up to date, you expose yourself to avoidable risks. Updates close known vulnerabilities – that’s why they should be a regular part of your routine.
Important tips:
Schedule fixed times to update operating systems, wallet software and security applications.
Avoid automatic updates for sensitive applications like crypto apps.
Wait a few days after release, read user reviews and check whether everything is working properly.
Use an encrypted password manager
As an internet user, you’ve likely already created dozens of accounts across various platforms — and you might be using the same password for all of them. That also means if someone hacks your password, that person could access your emails, online shop accounts, music streaming services and every other online service you use.
Fortunately, there’s a simple solution to this problem: create a separate, and above all secure, password for each account. Trouble remembering them all? You can store your passwords in an encrypted password manager like LastPass or Dashlane, and only need to remember the master password.
However, keep in mind that password managers, especially those with cloud connectivity, can themselves be targets of cyberattacks. An alternative is KeePass, a password manager that stores passwords locally on your device rather than in the cloud. This local storage offers an extra layer of security, as it isolates your sensitive information from potential online threats.
Use two‑factor authentication (2FA)
Activate two‑factor authentication (2FA) wherever it’s supported. With 2FA, you can provide additional protection for your accounts and assets against hacker attacks. This form of authentication is a cost‑effective way to enhance the security of your accounts or any services you use to manage your cryptocurrencies. It’s also easy to install and use.
To activate 2FA for your accounts and services, download an authenticator app to your smartphone. From then on, every login will require you to enter a code in addition to your password, which you might receive on your smartphone via SMS, for example.
Trade cryptocurrencies via a secure platform
Before you start trading cryptocurrencies, you should compare platforms carefully. A secure and regulated platform protects not just your transactions but also helps you store your crypto safely, for example through integrated security features or transparent recovery options.
When choosing, look for the following criteria:
The platform is regulated and complies with applicable laws.
There’s an experienced team behind it.
Modern security measures like two‑factor authentication (2FA) are available.
Support for fiat currencies, cryptocurrencies and common payment methods like SEPA or PayPal.
The platform is user‑friendly and offers reliable support.
Bitpanda is a European platform based in Vienna, offering fast and secure access to digital assets for both beginners and experienced users. In addition to cryptocurrencies like Bitcoin and Ethereum, you can also invest in stocks, ETFs and precious metals – all via a central, user‑friendly interface.
To keep your assets safe, Bitpanda uses two-factor authentication, SSL-encrypted data transmission, cold storage for most cryptocurrency holdings and session management with login confirmations via email.
Recovery options
If you ever lose access to your wallet, you can recover your cryptocurrencies using your seed phrase – also known as a recovery phrase. It's a specific sequence of words that acts as your backup key. To stay protected, store it offline in several secure places and keep your private keys locked away. Only those with the phrase can access your coins and tokens.
Make sure you understand exactly how recovery works for your specific wallet, as the steps vary depending on the provider. Read the instructions carefully and regularly test your recovery methods to ensure everything works in an emergency. If you securely store your seed phrase and private keys and have an emergency plan, you’re significantly better protected.
