I’ve been paying a lot of attention to cryptocurrency security lately.
In recent weeks we’ve been facing accelerating economic instability (that’s putting it mildly!).
We can blame the COVID-19 pandemic for that.
It’s been pretty wild.
There have been huge swings in the stock market. Billions of dollars are being gained or lost on a daily basis.
And that’s not all.
We’ve seen prices for bitcoin and other cryptocurrencies experiencing some crazy swings, too.
Bitcoin is currently trading at about $6,600.
That’s off a bit from earlier today.
But it’s up from a low two days ago at $4,460.
A month ago, before the coronavirus pandemic took hold globally, bitcoin was up to $10,365.
That’s why cryptocurrency security is suddenly such a big issue.
Crypto speculators are being driven alternately by fear and by greed.
Is bitcoin a legitimate flight to safety?
Or is it just plain insanity?
Cryptocurrency exchanges are under a lot of strain. So much so, in fact, that some of them look like they’re on pretty shaky ground.
Meanwhile, the scammers, hackers and attackers are out in full force.
If you’ve left your crypto sitting in an exchange account, you’re in trouble.
Potentially big trouble.
Like being wiped out entirely.
But hey, I’m not here to preach doom and gloom.
Things are tough enough already.
And I’ve got a cryptocurrency security tool I personally rely on.
You definitely need to consider it.
Protection With A Hard Wallet
It’s all about the added security of a hard wallet.
A hard wallet is a physical device for storing digital data, particularly blockchain entries.
That includes bitcoin and other cryptos.
Using the device, you can keep your cryptocurrencies safe. The data links are stored on the device and connected to the blockchain in the cloud.
All without exposure on an exchange, which is particularly vulnerable to compromise.
The bottom line is this – if your data is on someone else’s site, it isn’t safe.
There are different brands of hard wallets available, but the one I personally use is the Trezor.
It’s available from Satoshi Labs, and I’ve found it to be secure, easy to use, and 100 percent reliable.
Trezor came to mind today when I learned that Satoshi Labs is having a sale on their Trezor devices.
The sale has been prompted by the coronavirus crisis. It will be in effect until April 1st.
If you’re holding any crypto at all, I suggest you check it out.
Go HERE to get to the Trezor product page.
When you order, use Coupon Code STAYSAFE15 during the checkout process.
That will give you a discount of 15% off the regular price for either of their main models.
Take a look.
As security specialist Jack Sterling from CloudHound said to me earlier today, there’s “Nothing like a pandemic to spur people to make security-centric decisions!”
What better time is there to take care of your cryptocurrency security?