Firstly, you need to make sure there is a password in place that is required to unlock your phone. If you ever lost your phone or had it stolen, there is some level of protection between your investments and a potential threat.
As with all other passwords, make sure you write it down in your notebook.
The second thing you need to do to secure your smartphone is remove your mobile number from any social media account or public website. Most online platforms ask you to fill in your details, including your phone number, and most of us happily fill it in without thinking too much about it.
However, when you are planning to buy cryptocurrencies, you need to take the necessary precautions to ensure that you are keeping them as safe as possible. This includes removing your phone number (and your phone provider) from any place that it can be seen publicly by people you may not know or trust.
Secure Your Smartphone
If you intend to be a serious investor in Crypto then consider buying a phone specifically for it. You can buy an entry level one for a few $100’s.
Mobile phone numbers can be used to access your sensitive data. This includes two-factor authentication applications, your Cryptocurrency investments, and your banking applications.
Hackers are able to conduct SIM theft and steal all of the information above by gaining access to your mobile phone provider and number. They simply need to contact the provider and request a new SIM card.
To prevent this from happening…
Contact your mobile phone provider and set up a special passphrase with them. This a phrase that must be disclosed prior to activating a new SIM card.
If you have decided to download Malwarebytes, you can use their security software on your mobile phone too.