Cybersecurity Takes Off Amidst the Rise of Cryptocurrencies
- June 12, 2017
- Posted by: Moise Louissaint
- Category: Security Guard News
Cryptocurrencies have been all over the news, especially financial news, for a few years now. Bitcoin is the most prominent form of cryptocurrency that people trade, but there are plenty of other forms of cryptocurrency as well, including Quark and other forms of altcoin. Essentially cryptocurrency is a digital form of currency that people use to purchase goods and services online, around the globe. Bitcoin has gone over the $1000 per BTC (or 1 coin = 1000) in the past, but generally trades at a rate between $250-$500 in value, so obviously there is a good deal of money tied up in bitcoin and other forms of cryptocurrency.
We live in a digital age and many people like the ease of using a digital currency, one that is not backed or printed by any particular government. But where there is money there is always an attempt to steal it. Money and trade attract crime. Cryptocurrency specifically attracts criminals because it is new, is independent of any specific government, and there is little regulation in regards to it or government protection of it to date. For this reason cryptocurrency is susceptible to many forms of criminal activity and cybercrime, therefore cybersecurity is more important now than ever before, especially to those who deal in cryptocurrency.
Here are a few ways that cybersecurity and good security firms can help protect people who accept or trade in various cryptocurrencies:
- Hacking: Cybersecurity can help prevent costly hacking attempts that can not only ruin hardware, but that can destroy or steal cryptocurrency, and once cryptocurrency is gone, it’s gone for good. Possession is 10/10ths of the law when it comes to cryptocurrency, by design.
- Identity Theft: Aside from having your bitcoin or litecoin or quark or other form of cryptocurrency stolen, which cannot be insured or replaced, when your cryptocurrency security is compromised information that can be used to steal your identity and destroy your credit will be compromised as well.
- Fraud: Many people buy cryptocurrency, or sell it, using other forms of payment, such as checks or money orders. These types of payment can easily be forged and used to steal cryptocurrency. A good cybersecurity team will explain the many dangers and pitfalls associated with buying and selling cryptocurrency.
- Enhanced Authentication: 2 step authentications can mean that every time you log into your crypto vault, only you know how, with a randomized generator that gives you a unique log in code that is used one time and then disposed of.
- Cryptovault Protection: Cybersecurity methods like secure firewalls and 24/7 security can help protect the vault that protects your cryptocurrency.
- Spyware: Yes, spyware and malware can be used to syphon and steal cryptocurrency from your hard drive or online vault. Top of the line cybersecurity can constantly update your system and protect your cryptocurrency and accounts from this dangerous threat.
Having a cyber security firm helping your data stay safe is absolutely vital for businesses big or small. If you need a professional service that has the skills and experience to protect your business from cybercrime or hacking to the extent it deserves call Fast Guard Service LLC.
Fast Guard Service LLC
(305) 981 0801