Protecting your trading and investment portfolios means being as safe and secure as you can be online. There are a few simple steps to achieve this, but there are also more advanced methods you can use for extra protection.
Protecting your portfolio is essential if you buy crypto, have started FX trading, or have a small stock investment. Whether big or small, it is still your money, and you want to secure all of it.
Constantly Update Your Devices
While it may seem annoying, all the updates on your PC, laptop, phone, and tablet are very important. One of the most vital features of these updates is that they fix security threats that have arisen since the last update.
Always run these updates and keep your devices up-to-date; it is a tiny change that offers a massive layer of protection.
Have Strong & Diverse Passwords
One of the quickest and easiest things you can do is to update and change your passwords constantly. Someone with the right tools can hack an easy password in no time, which becomes even more of a problem if you use the same password for multiple sites.
Use a password manager to store all your passwords; this allows you to have different passwords across all sites and services without remembering them all.
Ignore Spam Emails
Spam emails are commonplace nowadays, but they are much harder to spot than the “send money to a prince” ones from years ago. Your FX platform, stock exchange, or crypto trading site won’t ever send messages asking to confirm credit card details or anything similar.
If you ever receive an email that seems fishy, never reply and report it to the site the email is trying to impersonate.
Use Secure Internet Connections
While public Wi-Fi is incredibly convenient, it can be easily hacked by anyone with even the slightest bit of knowledge on how to do it. Public Wi-Fi doesn’t have the same protections as private internet, and many people have had their data stolen because of this.
Instead, avoid the public internet provision and use your smartphone’s data or a dongle. Once again, it can be a minor inconvenience, but it makes a difference.
Use a VPN
A VPN is an amazing way to hide your online presence and make it harder for data thieves to find you and break into your systems. They are easy to use and install, and since they hide your IP, it is near impossible to track you.
VPNs cost a bit of money, but their security is well worth the investment. There are also numerous options available, as well as different plans that suit all kinds of budgets.
Store Offline When Possible
While this isn’t an option for several things, you can store your crypto wallet and portfolio offline. Your wallet is technically your investment portfolio, and you can keep all of the critical information on a hard drive or flash drive.
You still need to protect this offline portfolio, and one of the best ways to do this is to not take it anywhere with you. Hide it in a drawer, put it in a safe, or stick it under your bed.
Monitor Your Credit
There are several services available that allow you to track your credit usage online. While this is a valuable tool in general, it becomes incredibly useful if you are the victim of a data breach. The service will immediately notify you if any suspicious activity needs your attention.
You can also add a credit freezing tool, which is exactly what the name implies; much like a stop loss tool when trading, a credit freezing tool will stop all credit activity until you approve it again.
Don’t Brag About Your Investments
Finally, don’t brag about your investments and portfolios online. Nowadays, bragging about your assets has become commonplace, but this also makes you a target. Instead, keep your investments and portfolios a bit of a secret.