As Technology and Innovation continue to grow at an astounding rate, so does the threat from hackers and online data security breaches. Cryptocurrencies are no exception when it comes to matters of online data security and protection.

Coinhako takes user security very seriously and we actively seek to further protect our user funds.

Meanwhile, we would also like to remind our users of the importance of keeping watch of their online information and that they also play a key role in combating the threat from unlawful online activities. Here are some security advice and best practices that we would like to share to minimize their exposure to such risks:

Password Management

1. Password Basics

  • Never share your password(s) with anyone else
  • Do not use password(s) that are related to anything personal (ie. Your name, Birth date, family member names or anything easily identifiable with yourself)
  • Never repeat password(s) on different sites

2. Use longer password(s)

Longer passwords help to further secure your account in that it is always harder to guess passwords with longer characters.

Coinhako strongly recommends having a password which is at least 13 characters long to minimize the potential of unwanted access by other parties.

3. Keep your 2 Factor Authentication (2FA) Enabled

Coinhako has always made it a point for our users to utilize 2FAs for all transactions and matters related to us.

2FA is a highly recommended, additional layer of security that comes after your Username and Password(s). This measure greatly lowers the chance of funds being misappropriated by another party.

It is fairly commonplace that users – who have requested for their 2FAs to be disabled – leave their 2FAs disabled for a substantial amount of time or even in some cases, not re-enabled at all. We would like to reiterate that having your 2FA enabled is very important as this a key security measure in ensuring that your funds with Coinhako do not get compromised.

If you would like to find out more about 2FAs kindly refer here.

4. Password Managers

Technological innovation for data security has not been lagging behind either.

We highly recommend users to use Password Manager Applications to manage their passwords. Many of these are able to assist you in creating more secure passwords in addition to acting as a database for Password storage.

There are many Password Managers that you can easily find online. We recommend users to look out for Password Managers that have had a strong amount of reviews such as the ones here.

**Protecting your Online Information
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5. Watch out for fraudulent and unsecured sites

While browsing the internet, always check the URL of the site(s) you are visiting. Make sure that:

i) There are no discrepancies in spelling

Please note that Coinhako’s URL is https://www.coinhako.com. If you see any other sites that might bear a slight resemblance to Coinhako’s URL and you are not entirely sure of, kindly contact us. Do not provide any information on such sites and it is highly advisable to totally avoid them.

ii) The website has an encrypted connection

How websites are shown to be encrypted varies across different browsers.

For Google Chrome:

Encrypted connections would always possess the “https://” protocol on the address bar.

A Green lock sign will appear next to the word “Secure” and the “https://” protocol will also be Green

For Safari:

A lock sign will appear before the URL of the website.

These indicators vary across browsers. We recommend that users do some research about it before using any new browsers.

It is strongly advisable not to provide any personal data and/or information on sites that do not possess any of these indicators.

6. Be careful with browser plug-ins

Always check for credibility and legitimacy of any plug-ins that you wish to install.

Fraudulent plug-ins have the ability to install malicious software(s) into your device. These might result in your device being affected by viruses and/or online identity theft.

7. Suspicious links and messages

While browsing the Internet, always watch out for links, advertisements or messages that look suspicious. It is highly advisable not to click on links that you are uncertain of.

8. Avoid Unsecured and/or Public Wifis

We strongly recommend not utilizing Public Wifis for any Coinhako-related matters. It is also never advisable to key in any personal information while using networks that might be unsecured. Such networks greatly increase your risk of data theft or breach of data privacy.

Always utilize a network that you can trust before sharing any personal information.

9. Handle your Information with care

Never share data on places that you are uncertain of.

Coinhako would never ask you for your password. We will never send out any emails, pop-ups and/or SMSes requesting for such information.

If you are unsure about any requests that might seem related to Coinhako, kindly check with our support team before carrying on.

10. Monitor your online data

There are various methods to help ensure that your online data is not compromised.

We highly recommend that you check your online data at https://haveibeenpwned.com/ every once in awhile to ensure that nothing has been compromised. Haveibeenpwned.com is a free website developed for people to quickly assess if any of their user data may have been compromised. It was built by renowned online security personnel (Check the ‘About’ Section) and is very easy to use.

Any other recommended data protection programmes should also be considered to further ensure that your personal data is not compromised in any way.

Additional Information

11. Increasing Capabilities of Malicious Technology

The capabilities of Malicious Technology to disrupt and steal is constantly evolving.

Malware programmes now have the ability to identify Bitcoin/Ethereum addresses when you “copy”, and replace them with their own just when you are about to click send – in addition to stealing online data. Hackers are also known to have capabilities to generate online information from data that they might have gathered on other sites.

It is highly advisable to take extra precautions to prevent such software and applications from infecting your devices.

Some basic security advice includes:

  • Keeping all your device & online security measures up to date
  • Regularly Scanning your devices.

Cryptocurrency-related Risks

Knowledge is the best defense.

Everyone should always be aware of the Risks related to any piece of technology or product that they use. Cryptocurrency is a new and exciting technology but it is not risk-free. While we are actively seeking ways to minimize our users’ risk, we kindly ask that our users do some research on risks that they might be exposed to with the adoption of Cryptocurrencies.

Many regulatory sites have shared articles that discuss and identify risks that might be related to using Cryptocurrencies.

The Singapore Police Force had shared a statement on some risks of Cryptocurrencies on the Monetary Authority of Singapore’s (MAS) website. We also recommend that everyone consult with any other relevant regulatory bodies and sources before registering with any Cryptocurrency related companies.

Disclaimer: Please note that this post is purely informational. Should you have any further enquiries please do not hesitate contact our support team at hello@coinhako.com.