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The market for crypto-currency has no signs of decline. Following the bumpy ride cryptocurrencies encountered in 2018, more and more folks are looking for personal and business purposes in the digital currency. Now that crypto currencies are all here to stay, it is time to bring matters relating to privacy and security seriously.

Maintaining Your Privacy When Buying Cryptocurrency

contradictory to belief, Cryptocurrency is not anonymous. Crypto currencies are private but not wholly anonymous. Digital currencies are by nature only cryptographically secure, so you can only achieve some degree of anonymity depending on how it is used. Below are some of the most useful tips when buying cryptocurrencies to keep privacy:

Do Not Reuse Addresses

Avoid using addresses over and over again for your crypto-currency transaction. You can instantly create a new crypto-currency address and this will boost your privacy immediately for free. Stop using a platform or wallet that doesn’t allow new address creation. With the popularity of cryptocurrencies, finding a private and secure service will not be challenging which allows you to create a unique address for each transaction.

  • Using a new address will do wonders for your privacy and protection each time you transact.
  • Use a new address whenever payment is made or received / Use different wallets for personal and business / trade purposes.

Never Use Public Wi-Fi

Free Wi-Fi is practically everywhere. While using public Wi-Fi to perform cryptocurrency transactions may be tempting, avoid doing so at all costs. If you’re serious about maintaining your privacy when purchasing cryptocurrencies, you’ll never use public Wi-Fi to access your accounts. Hackers can strike through public Wi-Fi at any time so it’s better to be safe than sorry.

  • Although you are at regular coffee shop with free Wi-Fi, do not risk your account by connecting to the Internet in public places.
  • Do not lend other people your laptop, tablet or smartphone.

Do Not Keep Your Codes and Keys Online

It may seem old-fashioned, but it’s easier to save your keys and codes offline in a secure place, rather than online storage. Passwords, codes and other essential data are usually stored on our laptop or smartphone. Hiding sensitive information in a folder called “movies” does not guarantee security because hackers are brilliant in the search for electronic data.

  • Encrypting an online folder does not keep your details from a particular hacker secure.
  • Invest in a strongbox or use a bank vault to safely store codes and key physical notes.

Conclusion

Preserving your cryptocurrencies is really the easiest way to make the most out of your investment in the digital currency. Hackers are always waiting for an attack at the right moment. But when you purchase cryptocurrency you can protect your privacy with a lot of common sense and the right tools.

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