Cryptocurrency Theft & Security

Security is a massive stumbling block in the cryptocurrency world. Despite blockchains being very secure, this does not carry over to coins when they're sitting in hot wallets.

A You Gov poll carried out by showed that 88% of people in the UK were unlikely to invest in cryptocurrencies this year, with 50% of those put off by safety and security risks.

For all the security systems cryptocurrency exchanges and wallets have, and implement, they are still vulnerable to malware attacks.

It is always advised to treat your online wallet in the same way you would your cash wallet. Keep only a fraction of your total investment in your hot wallet (online) and the majority in cold storage (offline). The same way you would keep your savings in a bank and spending money on your pocket.

Below is an infographic showing instances of hacks whilst also providing tips to increase your cryptocurrency security.

Crypto Theft & Security

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