Security is necessary for everything we do online, that’s why we use a password to secure most of our device, bank app, and our devices, so if you neglect security then you will be available for hackers.
When it comes to bitcoin wallets, security is often at the top of every user’s list of priorities. After all, who would want their hard-earned bitcoin to be lost in the hands of a slimy hacker?
Unfortunately, hackers have gotten crafty over the years, and passwords have gotten leaked.
Whether it’s due to hackers manually guessing passwords or elaborate email server hacks, it’s a terrifying thing to think about.
That’s why we, as holders and bitcoin enthusiasts, need to do everything in our power to make sure that these hackers do not gain unwanted access to our accounts (and bitcoin).
The first step to securing your coinbase account is to create a strong bitcoin wallet password.
1. Creating a strong password
Since the bitcoin wallet password serves as the first line of defense, you must make it as secure as possible.
According to a report made by The Huffington Post in early 2017, “123456” and “password” were among the most common passwords in 2016. As responsible for BTC holders, we have to be more vigilant than this.
2. Make it long and complex
The first step to making your coinbase wallet password secure is to make it as long and complex as possible (within reason). Although manually typing a password as a means of hacking accounts seems a little rudimentary, we still have to be on the lookout.
As a general rule, the longer and more complex your coinbase wallet password is, the harder it will be for hackers to guess. Instead of making it overly complicated, try using random phrases. This way, it’ll be hard for hackers to guess, but easy for you to remember.
3. Avoid using personal information
However, remember never to use personal information. With the majority of the world on social media, using personal information (such as birthdays, anniversaries, addresses, pets’ names, etc.) can make it easier for hackers to guess your password.
This rule also applies to the optional security questions that you choose when creating coinbase wallet account.
Select security questions that aren’t easily searchable on your social media accounts. Also, don’t use characters that appear consecutively on the keyboard (such as “123456” or “qwerty”).
4. Steer clear of common words or phrases
In addition to that, make sure that your coinbase wallet passwords don’t contain common words, phrases or combinations as there are hacks called “dictionary attacks” that plague accounts.
These hacks are hacking algorithms that systematically enter each word (found in a dictionary) to try to determine a password. Apart from that, these can utilize a list of simple passwords.
5. Take advantage of alphanumeric characters
Another way for you to further secure your coinbase wallet password is to use characters other than letters—symbols, numbers, and uppercase and lowercase letters. The more you jumble it, the harder it will be to guess. You could substitute zero’s (0) for the letter O, @ for the letter A, or $ for the letter S.
Ideally, a strong password will have 12+ characters, both upper and lowercase letters, numbers and symbols, no easily guessed information, and no common words and phrases.
6. Enable two-factor authentication (2FA)
Although 2FA isn’t directly related to the strength of your password, it can act as a line of defense against unwanted access to your account.