Why crypto traders are changing their passwords today

Why crypto traders are changing their passwords today
Why crypto traders are changing their passwords today

Today is a very special day. It is the international one “Change Your Password Day”. Today is a good time to check whether your passwords still sufficiently protect your sensitive information and to take action if necessary. What exactly can you do?

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The importance of a good password

Even if you are not active in the crypto world, your passwords are very important. But especially in crypto land, the importance of security cannot be underestimated. Unfortunately, data breaches regularly occur in the crypto sector. The chance that your password will become public is very small. But the chance that your username or email address will be leaked is greater. If this is the case, it is best to change your password as soon as possible to be on the safe side.

This link will take you to a website where you can easily check whether your email address appears in databases that have been leaked. If this is the case, change your password for accounts using that email address as soon as possible. Then at least you don’t have to worry about that anymore.

It is also important that you use a strong password. You have platforms that can help you generate a strong password. This is a good option. Names of pets or your name and date of birth are no longer allowed. Especially for crypto matters, you want your accounts to be optimally secured.

Beware of password apps!

Be careful with platforms where you save passwords. An example is the LastPass platform. This password app suffered a data breach early last year and passwords ended up on the street. Several victims were subsequently robbed of their crypto assets.

Moral of the story: never rely on an external platform to keep your passwords safe. Generate or make up a strong password and write it down in a booklet. Classic but safe. Just don’t lose your booklet!

Also a good tip is to use 2FA, two factor authentication. With 2FA, you are asked for a second authorization when logging in. This could, for example, be a text message check. So if someone has your password, they still cannot access your accounts.

So today is a good time to take a moment and take a look at all your accounts and assess whether they are still optimally secured. It’s a small effort that can potentially save you a lot of trouble.

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The article is in Dutch

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