Crypto Security Best Practices: How to protect crypto assets and payments

Crypto Security Best Practices: How to protect crypto assets and payments

Digital assets are becoming more valuable than ever, and you need to protect them from cyber threats. Although it is not so easy to get unauthorized access to assets, businesses working with cryptocurrencies should still take security measures.Make sure that your clients, to whom you provide cryptocurrency processing, storage, and exchange services, pay due attention to security issues. To stay safe and ensure the security of your clients, we have prepared some basic measures that are important to remember.


Crypto security measures

A business that provides crypto processing services should always be concerned about security and privacy.There are many different ways to upgrade your system's reliability, but audits are the first thing you should consider. An audit is necessary to make sure that your system is not vulnerable to any attacks and is secure. Why so? Let's find out.

1. Regular Security Audits

Regular audits are conducted by a team of security professionals who use a variety of tools and techniques to assess your current security posture. Such diagnostics will help protect important data, identify security loopholes, track the effectiveness of security strategies, and more. During any audit, you will identify weaknesses and vulnerabilities, which enable you to continuously improve the security of your operations. We recommend all our clients to do audits, as this is one of the most important security measures. As a result of regular checks, they ensure an increased level of security. 

As you have taken care of your system's security, don't forget to take the following tips into account and educate your customers about possible security methods. As a cryptocurrency user, it is crucial to:

2. Use Hardware Wallets:
Hardware wallets are crypto wallets that offer a secure and convenient way to store and manage your private keys. Such a device provides security and easy access to your funds, as well as an additional protection against online threats. In general, the components of a hardware wallet make it a reliable and convenient tool.

3. Implement Multi-Signature Wallets:
A multi-signature wallet is a crypto wallet that requires multiple signatures to authorize and complete a transaction. They can be configured to require multiple private keys to access the wallet and authorize transactions. This means that approval from different parties will be required to complete a transaction. This provides additional security and reduces the risk of someone accessing your funds.

4. Seed-phase storage:
Seed-phase is a recovery key for a wallet, which usually consists of a set of random words. This phrase is the only backup of your private keys that can give you access to your crypto assets. If you lose your hardware wallet, forget your PIN, or anything else, you can regain access by entering the seed-phrase. It is very important to keep this confidential, as this way you minimize the risk of losing funds.

Keeping your cryptocurrency funds under control is especially important as new threats and vulnerabilities are emerging regularly. You are responsible for your funds and transactions, and you need to take care of their security. We recommend staying up-to-date with security trends and practices and following trusted sources.



Back to blog
  • Definitive role of stablecoins in crypto payments

    Cryptocurrencies have exploded in popularity, but using them for everyday purchases sometimes can be tricky. Their value fluctuates wildly, making it difficult to know how much you're actually spending. That's...

    Cryptocurrencies have exploded in popularity, but using them for everyday purchases sometimes can be tricky. Their value fluctuates wildly, making it difficult to know how much you're actually spending. That's...

  • Crypto processing for e-commerce

    Lately, cryptocurrencies have been making waves in the world of finance, and now they're starting to shake things up in e-commerce too. We're talking faster transactions, potentially lower fees, and...

    Lately, cryptocurrencies have been making waves in the world of finance, and now they're starting to shake things up in e-commerce too. We're talking faster transactions, potentially lower fees, and...

  • WhiteFlo introduces a new auto-conversion feature

    We're excited to announce a significant upgrade to our platform — an auto-conversion feature for transactions. This feature streamlines operations by providing auto-conversion of payments for both acquiring and fund...

    We're excited to announce a significant upgrade to our platform — an auto-conversion feature for transactions. This feature streamlines operations by providing auto-conversion of payments for both acquiring and fund...

  • Top list of cryptocurrencies for crypto payments

    Gone are the days when we used plastic cards to pay for services or goods. Today, almost everyone holds money online, as it's convenient, fast and profitable. Among so many...

    Gone are the days when we used plastic cards to pay for services or goods. Today, almost everyone holds money online, as it's convenient, fast and profitable. Among so many...

1 of 4