From time to time, in the crypto world, we may come across news of million-dollar cryptocurrency wallet hacks, which can cause concern and fear among users, since no one wants to be a victim of an event like this, however, these events usually occur because the necessary measures are not taken to maintain high security standards. It is important to note that The Bitcoin blockchain has NEVER been hacked, since what hackers usually do is take advantage of the vulnerabilities of private wallets or exchange platforms in order to take advantage of them.

Faced with this you must Be clear about how wallets work, these do not directly store your cryptocurrencies, but they contain a private key that allows you to exchange Bitcoins or any other crypto online, meaning that this key represents your digital identity in the market, so anyone who has access to it can carrying out fraudulent transactions or stealing from you.

From El Dorado we want your savings and investments to remain safe, so to help you protect your crypto finances for security breaches, we have prepared this guide, which will allow you to improve and keep your cryptocurrencies as secure as in a bank vault.

1. Strengthen your passwords

The process of creating passwords is often taken lightly; for example, the same passwords are used for multiple platforms or devices, easy-to-discover combinations are used, or they are not changed in a reasonable amount of time. In fact, a study revealed that three-quarters of millennials in the United States use the same password on more than 10 devices, applications and social networks, making it easier for hackers to access exchanges through your data. Don't make it easy for them! AND start creating unique passwords on each platform, these must include alphanumeric characters, special characters, lowercase and uppercase letters, and combinations that are difficult to deduce.

You may be wondering how to remember them all? For that, you can store them in a secure password manager such as Bitwarden or 1Password. On the other hand, we recommend that you configure two-factor authentication (2FA) or multifactor authentication (MFA). Through these options, the platform will ask you to take an additional step after entering the password to log in, which considerably improves security levels.

At El Dorado we have two-factor authentication, so every time you start a new session, you must enter a code generated by your authentication app, you can use Google Authenticator, Authy or whatever app you want

2. Use different wallets

Generally speaking, there are no limitations for creating cryptocurrency wallets, so you can divide your investments into different wallets to avoid having all your money in one address, for example, you could use one for daily or recurring transactions and others to hold savings or investments. Although in El Dorado you are only allowed to have one wallet for each cryptocurrency, you can distribute your income among the different cryptocurrencies and stablecoins available so you don't keep your entire balance in one address.

3. Use a secure internet connection

When you want to access your wallet or make transactions on any platform, you must ensure that you are connected to a secure internet network Avoid connecting to public Wi-Fi networks at all costs! These can easily be used by hackers to obtain your personal information and access your cryptocurrencies. If you're connected to your home network, It is recommended that you use a secure and trustworthy VPN, it will constantly change your IP address and location, making your browsing activity difficult to be tracked by third parties.

4. Keep your device safe

When was the last time you updated your antivirus? Or did you do an antivirus check on your device? These measures are simple and basic, but they often go unnoticed, causing vulnerabilities and risks that can threaten the security of your cryptocurrencies. So if you want to keep your finances safe, you must ensure the security of your device, for this It is important that you have an antivirus and firewall installed on your computer or phone quality, and carry out regular checks to verify the security status, so if a violation occurs, you will receive the notification in time to prevent your data from being stolen.

5. Stay alert to phishing

Phishing is a technique that consists of sending messages (usually through emails), using a false identity that appears to be real, for example, of a bank, exchange or company; that is carried out for the malicious purpose of requesting sensitive data such as user names and passwords, It is one of the most common ways to obtain confidential information, so you should be extremely attentive to the emails and communications you receive on behalf of companies related to finance.

A few years ago the hacker group “CryptoCore” stole for 2 years, through different exchanges, cryptocurrencies valued at 200 million dollars. How did you do it? Thanks to phishing, it was enough for them to send malicious advertisements and misleading emails to thousands of registered users on exchange platforms. For avoid this type of deception, you must identify that the address of the sender of the email is the official one, verify that the links you access are secure (you can recognize it if you see a padlock in the left corner of the address bar), and not fill out forms that request your passwords or confidential data.

For example, when it comes to El Dorado, the emails you receive come from the address hola@eldorado.io, just check that each email contains that email as the sender for Know that the message is legitimate and that any link it contains will redirect you to the official website. If you receive a message using a different address, it is recommended that you ignore it, mark it as spam and report the irregularity through the company's official channels.

How do we ensure safety from El Dorado?

Through El Dorado you can receive international payments, save using stablecoins and exchange different cryptocurrencies for fiat money through the peer-to-peer (P2P) market, all from the comfort of your smartphone. To do this, it is important to ensure the security of your account and transactions, which it's a job that we take very seriously, implementing the following measures.

• 2FA Authentication: This means that it is not enough to enter your password to log in, you must also include a code generated by your authentication app.
• Escrow: This measure helps you protect cryptocurrency exchanges within the P2P marketplace, you can learn more about it hither.
• Platform with security certificate: This security protocol creates an encrypted link between a web server and a web browser, which protects your data and browsing when you are in El Dorado.

Do you already know what measures you'll start implementing to protect your cryptos? We hope to have helped you with these tips, which should be taken seriously for avoid being a victim of hacks or malicious activities. If you want to save on stablecoins or exchange cryptocurrency for fiat money, you can do so with El Dorado, where you will find a secure and easy to use platform.