The security of your wallet directly depends on the level of your privacy in the crypto. The more scammers know about you, the easier it is to attack you.
Here are some basic ways to increase privacy:
The principle of “two computers”
You need to have at least 2 computers to increase privacy in the crypto: one for normal work and entertainment, and the second purely for interacting with the crypto.
There is also software that can turn your computer or smartphone into a cold wallet: Airgap. You can store crypto with it and sign transactions offline, without an Internet connection.
Secure email address
Sometimes you have to share your email address with different platforms in crypto. For example, to register on the exchange or to subscribe to email notifications from DeFi platforms.
It is better to use a separate mailbox to do this, and not your main one. For example, Proton Mail with end-to-end encryption of letters and open source.
Avoid centralized platforms
KYC on exchanges, connecting wallets to centralized platforms, crypto-domain on Twitter – all this reduces your privacy.
For example, if you connect to Instagram through your main Web3 wallet to share your NFT, then Meta will have full access to your transaction history.
Practice OpSec
OpSec is a military term that stands for “operational security”. In the context of crypto, OpSec means a set of measures to protect your personal data.
A few examples:
- If you are in crypto chats or crypto forums, then it is better not to put a real photo on your avatar – scammers can easily find your page on social networks and other personal data
- Do not create an email address or cryptodomain that is easily associated with your real name or date of birth
In other words, you need to leave a minimal digital footprint of personal data in the crypto – this will significantly reduce the attack vectors on your wallet.
Don’t Forget About DeFi Privacy Apps
After the blocking of Tornado Cash, there were almost no known protocols for confidential transactions left in the crypto.
Most likely, quite a few protocols will appear in the Ethereum ecosystem this year that use zkRollup technology to increase privacy. One of them is already available: Aztec Network.
Also, the founder of Ethereum recently introduced the concept of anonymous/invisible addresses, which will increase the privacy of Ethereum transactions for those who need it.
Conclusion
Crypto privacy is very important for every investor. Using small rules, you can save yourself from theft of money and trouble when working with cryptocurrency.
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Disclaimer: This article is not investment advice. Assess the risks yourself before making any investment decisions.
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