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How to protect your money and data: 5 simple tips from Crypterium

December 4, 2018

Don’t use your birth date, please!

123456, 12345, 12345678, password and qwerty. You might not believe it but these are the most common passwords people used for their accounts in the past year. Here are some more hard stats for you: 2 in 5 people reported that their account was hacked or their password was stolen. Is there a correlation between this results and weak passwords? Definitely yes.

Strong passwords are extremely important – they prevent unauthorized access to your devices and electronic accounts. If you choose a very long and complicated password, you will make it very difficult for anyone to hack it, whether by a brute-force attack (i.e., trying every possible combination of letters, numbers or special characters) or an automated machine attack trying hundreds of combinations per second to guess your password.

Importance of a strong password is known - safety and security. Unfortunately, creating such a password is not easy but if you will follow 5 simple tips, you can be reassured that your guilty pleasure of posting cappuccino and croissant pics every other morning will be seen by your friends only and will be safer than American presidential elections.

Tip 1: Applying password basics

  • Choose a password that no one will guess (not your name, birthday, family member’s name, etc).

  • Do not share your password with anyone

  • Make your password long enough, at least 8 characters.

  • Use at least 1 capital letter and 1 lowercase, for example

  • Use _ and/or spaces in your password.

  • Create different passwords for different accounts.

  • Make sure to memorize your password in any way possible (write it down, keep it in a safe place)

Tip 2: Passwords to avoid

  • As mentioned above, avoid default passwords like “password” “guest”, “user”, “admin”.

  • Avoid number sequences, even if they are complexed ones. 24508450 might be stronger than 12345 but it’s still weaker than Icelandic army. By the way, Iceland does not have an army.

Tip 3: Creating a secure password

  • Create a phrase or a sentence as the basis for your password. It can be both: complex to guess and easy to remember for yourself.

  • Create a complex but memorable sequence of letters and numbers. For example, if your family members are David, Michael, Kate, and Lauren - DaMiKaLa will be easy for you to remember. Add up their birth dates and you will get something like “Da23Mi14Ka30La02”

  • Use at least one number, letter and a special character in your password. We can make our example even stronger by adding # in the beginning and _ in the end: “#Da23Mi14Ka30La02_”

Tip 4: Using 2FA if possible

If possible, Use Two-Factor Authentication (2FA). With 2FA, you will receive a text message for login and password reset requests. You can choose between OneTouch, SMS, and TOTP (Time-Based One-Time Password) 2FA authentication.

Tip 5: Using password managers
 

Select a password management program. This software will generally allow you to automatically handle a variety of passwords by simply entering one "master" simplifying your organization and memorization responsibilities. Most well-known options include LastPass, 1Password, Dashlane, KeePass, and RoboForm. Additionally, passport managers can be downloaded or even created independently.

Treat your passwords like you treat your banking cards. You have a wallet or a cardholder where you keep all your cards, passwords also could use their own “holder”.

At Crypterium, we make sure that all our employees have secured passwords and we urge our app users to follow the suit. Additional, we want the famous Enigma (a de-centralized platform) story, where hackers managed to steal 500,000$ from users because of CEO’s weak password, to stay in history and never repeat itself.

Hackers will only continue to get better at their “job”. So If you want to protect your money, data, identity, and personal information - start thinking seriously about ways to strengthen your passwords.

About Crypterium

Crypterium is building a mobile app that will turn cryptocurrencies into money that you can spend with the same ease as cash. Shop around the world and pay with your coins and tokens at any NFC terminal, or via scanning the QR codes. Make purchases in online stores, pay your bills, or just send money across borders in seconds, reliably and for a fraction of a penny.

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