One of my concerns with using cryptocurrency is the vulnerability it has. Despite strict security measures, hackers continue to develop sophisticated techniques every day, making it possible for anyone to be the target of their attacks. So aside from being high-risk and unregulated, cryptocurrency is vulnerable to cyber-attacks and other types of fraud. Indeed, it's awful to wake up one day to find your asset being stolen by a hacker.
You Are Your Own Security With a Non-custodial Wallet
The saying "the protection of your asset is in your hands" or "you're your own bank" never always stuck in my head since I started my cryptocurrency journey until I experienced several hacks on my bitcoin asset. But after numerous assaults, I took control of my wallet's security, ensuring I didn't fall for any other malicious deception on my investment.
Frankly, I've been a victim of multiple wallet hacks, which could be traced back to the crypto wallets I've always used to store my valuables. One bad experience I had was when I tried to earn extra bitcoin by participating in a specific crypto faucet from a telegram community. But, of course, if I had never received cryptocurrency through crypto faucets, I would have questioned their legitimacy.
However, I took part in the task for this particular faucet, and it asked for my wallet address, which I gave without hesitation. Unfortunately, I was tricked by the faucet scam when a link to collect my reward was sent to my email. As a result, the hacker gained full access to my private keys and wiped all of my bitcoin holdings. Funny enough, while attempting to retrieve the assets I lost to the phishing scam, I lost more percentage of my portfolio to another scam. It was a dreadful time for me as a crypto novice because I never considered how much my crypto assets' security depended on the reputation of the crypto wallet I used.
Is Custodial Wallet Safe From Hacks?
On the other hand, I sought to give a third party—often called a custodial wallet—control over protecting my asset and my private key. Therefore, I believe I should be safeguarded from hacking or any other asset loss since they are in charge of my cryptocurrency holdings. But regrettably, I lost my assets after falling for a trading platform investment scam that demanded I transfer a sizable portion of my wallet's holdings. In addition to the investment scam, I discovered multiple withdrawal transactions on my wallet history that I had not authorized. My password eventually stopped enabling me access to my portfolio. Unfortunately, the wallet had no backup features, which caused me to lose everything in my portfolio.
After suffering several hacks, I consulted an expert for an ideal hot wallet to store my crypto assets. He said, "There are many factors to consider when selecting a cryptocurrency wallet, but these are the most important ones for all types of crypto users." So, he mentioned I look for these features before committing my crypto assets to any crypto wallet.
The Must-have Crypto Features
Choose A Reputable Crypto Wallet
Not considering the reputation of the crypto wallet I chose was one of my wrongdoings because cryptocurrency is a high-risk investment due to its volatility. However, I took a bigger risk by not using a trustworthy crypto wallet. Therefore, determining whether the wallet's features satisfy my demands and whether security measures are in place to protect my assets became a vital criterion.
A cryptocurrency wallet's user interface and features should be simple to use. You cannot use a crypto wallet securely if you are unfamiliar with its features. For example, most crypto wallets I used earlier do not have quick transaction functionality. And you should also be able to complete transactions quickly by scanning QR codes rather than manually typing addresses. Therefore, for a seamless user experience, a QR code scanner tool must be added to the cryptocurrency wallet interface.
Accepts Multiple Cryptocurrencies
Choosing a reputable crypto wallet is not enough without thinking about the assets that can be stored in it. For example, I was quickly a victim of malicious attacks because of my single asset holdings. Knowing this, having a crypto wallet that accepts various cryptocurrencies became an important consideration when seeking a crypto wallet. Additionally, a crypto wallet with multiple asset features would allow me to research various projects, diversify my holdings, and create a well-balanced portfolio using multiple cryptocurrencies.
A crypto wallet's security must be the most crucial consideration when selecting a crypto wallet. In fact, along with the wallet's reputation, it should be your first consideration because the wallet's importance cannot be separated from its security. Of course, if I had researched my previous wallet, I would not have been subjected to so many hacks.
So, the crypto wallet's security must ensure asset safety while granting me access to 2-factor authentication. This will always safeguard me if I attempt to log in from unknown IP addresses to validate my identity. Finally, the wallet must have a dependable and effective backup system, which will aid in recovery if I inadvertently lose my wallet data or damage my device. (You can read more on the top features of a crypto wallet here.)
Now, with my knowledge of what an ideal crypto wallet feature should be, I understand why I fell victim to various hacks. After all, without considering these features, I experienced;
- Loss of crypto assets
- Being a target for hackers
- Having difficulties navigating my crypto wallet.
So it's time for me to correct my mistakes and rebuild my cryptocurrency portfolio without being a victim of cyber attacks and scams. As a result, I require a crypto wallet that checks all of these boxes. To avoid making the same mistake twice, I researched thoroughly and found Cwallet as the best crypto wallet, checking all the boxes in this category. Cwallet combines the features of the two worlds –custodial and non-custodial– providing simplicity, flexibility, and security.
Cwallet Security Protection
Cwallet relieved my "with great power comes great responsibility" concerns by securely storing my crypto funds. Cwallet provides me with the security I need to explore the fascinating world of cryptocurrency.
With its unique security indicator that shows how secure my wallet is, Cwallet provided me with the most excellent level of security I've ever seen from a crypto wallet. As a result, when all required security protection operations are activated, the security indicator reaches its maximum.
Cwallet allows me to add extra protection to my account by enabling two-factor authentication. With this, I must enter the confirmation code before completing any transaction. As a result, the two-factor authentication feature available on Cwallet provides me with the appropriate protection against malicious hacker attacks.
Cwallet Auto-lock And Touch ID Features
Cwallet's unique Touch ID feature lets me access my crypto wallet using my biometrics. This means I do not necessarily need to type in my login and payment password every time I want to use the wallet and conduct the transaction.
This one-of-a-kind feature safeguards my crypto asset and eliminates the prying eye of hackers who attack users' passwords.
Additionally, the Auto-Lock feature enhances wallet security by automatically locking the screen of my wallet when I wake up the app. By doing this, any information leakage when choosing a background app is prevented. For example, I could specify the locking period of my choice, which after this time, to access my wallet, Cwallet would require me to enter my password and two-factor authentication.
Undoubtedly, this is the best security measure I've seen from a crypto wallet.
Getting Started With Cwallet
It is simple to get started using Cwallet. Unlike other wallets, there is no need for you to go through a lengthy registration or KYC verification procedure because all you have to do is add your mobile phone or third-party sites like Twitter, Telegram, Discord, and Reddit.
So, once you have your Cwallet account, you can set up security protection on your wallet from the security page. You can enable the 2FA on your account by downloading the Google authenticator and following this step-by-step process to activate your additional security.
Similarly, you can enable the Touch ID and Auto-Lock feature from the security page to ensure all the security protection reaches maximum capacity.
Follow these steps to activate the Touch ID to ensure quick payments and eliminate the need for constant password input.
Also, you can set a flexible lock period with the Auto-lock feature. To do this, follow these steps to enable the Auto-lock and take charge of your wallet security.
Cwallet: The Multi-functional Crypto Wallet
Cwallet is a unique cryptocurrency wallet that combines custodial and non-custodial features. With the help of this combined on-chain and off-chain wallet, you can manage and trade over 800 cryptocurrencies in a single spot, providing security, simplicity, and flexibility.
The Cwallet meets individuals' and enterprises' complex crypto needs through a range of features such as the tip code, airdrop game, giveaway tool, mobile refills, bulk payment, request invoice, payment button, and so on. It is more than just a cryptocurrency wallet where users may send and receive funds, buy and sell, or hold and swap cryptocurrency.
Cwallet lowers the entry barrier for crypto usage. You can instantly create a cwallet account with your mobile number or third-party networks such as Twitter, Telegram, Discord, and Reddit.
Cwallet does not charge any deposits, withdrawals, and token swap fees. Therefore, using the Cwallet wallet is absolutely FREE!
So, what are you waiting for?
Download the Cwallet NOW!