Having a crypto wallet comes with several responsibilities and one such responsibility that every one of us should give heed to is the wallet's security. Whether you are using a hot wallet or a cold wallet, it contains a lot of crucial information about our crypto funds such as private keys, the token's contract address, etc. Not just that, it is very important to understand what would happen if we ever lose complete access to this wallet.
You will eventually lose access to all the funds that you have stored in your wallet and this could prove to be a bad deal for you. So, if you wish to avoid becoming a victim of any such event, you should immediately take action to improve your wallet's security.
Specifically talking about Coinbase wallet, we are going to list some helpful tips that would eventually help you make your wallet way more secure.
Actionable steps you should take
Although Coinbase at its end takes extensive security measures to safeguard your Coinbase wallet in any condition, it is also the duty of an individual to safeguard his funds. So, here are the easy steps that you can take if you wish to make sure that your funds are enjoying a good time while their stay in your wallet:
- Use a random password: using a password that is not only complex but hasn't been used at any other place is always a good idea to protect your Coinbase wallet
- Protect your device: The device on which you are using this wallet should also be password-protected
- Log out of your wallet: as soon as you do not feel the need to use the wallet anymore, please log out of it immediately
- Do not leave your device/wallet unattended: even if you are at your home, you should never leave your device unattended or let others have access to your wallet
- Keep the Coinbase wallet updated: whether you are using the wallet through its extension or the application, make sure you keep on installing the wallet updates on a regular basis because these updates come with improvised security features
- Keep a check on wallet activity: by keeping a regular check on the activities that take place from your account, you can easily track any unusual activity or something that you haven't done. This way you can easily take necessary actions to resolve that particular issue
- Keep changing your passwords: this security practice is not specific to a Coinbase wallet but should be practiced for all such accounts you have created on the web
- Do not give into phishing scams: since hacking incidents are on the rise, make sure that you are aware of the phishing scams taking place in the world and how to stay protected from them
To sum up this read, we can say that it is pretty important that we take some simple yet effective measures to ensure that are crypto funds are safe from any hacking incident. To help you understand all of this in a better way, I have tried my best to include all the tips that you can follow without any hassle.