Celsius Wallet Security 101
The most important thing to do is to secure your crypto wallet. Here is a comprehensive guide to keep your Celsius wallet secure and safe from hackers and cybercrime.
Cybercrime and hacking have always been around since the beginning of the internet. Today, this costs people and companies an estimated $12 trillion per year worldwide. As such, it is imperative for every Celsius user to secure their wallets as best as they can. Here are some steps for you to follow, called the Celsius Wallet Security 101 guide.
Please remember that Celsius will never ask for your confidential information. This includes your password, HODL Mode code, private codes or seed phrases. They will also never ask you to send any funds to them under any circumstance.
Tip #1: Use a Unique Email Address
An often overlooked yet important step in creating a financial account of any sort is to try and use a unique email address that you currently don’t use for other online accounts.
There are so many scams and phishing attempts everyday designed to gain your personal information and access to your accounts so using a unique email address when creating your Celsius wallet would help in the short and long term.
Tip #2: Choose a Strong Password
This is one of the most obvious but oftentimes overlooked step when creating your new Celsius wallet. When choosing your password, you could either generate a ‘random password‘ using one of many online tools, or you could ‘design’ your own using some of the following parameters:
- Don’t use words that exist in a dictionary, even if you use numbers before or after the word
- Don’t use ‘password’ or ‘12345’ or any variation of these
- Make your Celsius wallet security password long (at least 12-15 characters if possible)
- Use lowercase and uppercase letters and mix them up
- Use numbers
- Use special characters and symbols (like ! or _)
- Don’t use memorable keyboard paths
- Use a different password than any other online account
Check out this HIVE systems infographic that shows you how quickly and easily a cybercriminal can crack a password… amazing and scary!
Time it takes for a hacker to crack your Celsius password
Tip #3: Storing Your Password
After you choose a unique and strong password, it is also important to store your password safely by following these steps:
- ‘Refresh’ or change your password often. When we say often, probably at least once a year, if not quarter (3 months).
- Do not store your password on your computer, unless using an encrypted password manager.
- Whenever possible, write down you password on 3 Post-It Notes and put them in 3 secure places in your home.
- Never text message or email your password to anyone.
Tip #4: Biometric Authentication
Secure all of your devices (mobile and desktop if available) with biometric authentication. Not all devices have this feature. This include the following:
- Retina (eye)
Tip #5: 2-Factor Authentication
This is an extremely important step in securing your Celsius wallet. 2-Factor Authentication, or 2FA, provides a second layer of security for your devices. You can activate 2FA via an authenticator app. Here are some options:
- Google Authenticator
- Duo Mobile
- LastPass Authenticator
- Microsoft Authenticator
- Twilio Authy
- Aegis Authenticator
Tip #6: HODL Mode
One of the unique features of the Celsius Network platform is the ability for a Celsian to activate what is called ‘HODL Mode’. When in HODL Mode, ALL outgoing withdrawal transactions are deactivated (including withdrawing assets and even CelPay). When a user switches ‘HODL Mode’ ON, they get a 8 digit (numerical) code. In order to turn it OFF, a user needs to enter the correct 8 digit code again. Remember to:
- Write down your 8 digit HODL Mode code on 3 Post-It Notes
- Put them in 3 secure places in your home
- Don’t ever disclose your secret code to anyone, including Celsius staff
Tip #7: Whitelist Withdrawal Addresses
Another great feature that is unique to the Celsius wallet is the ability for Celsians to whitelist their withdrawal addresses for each asset. This ability to lock a single withdrawal address per asset gives another extra level of security. In addition, after adding a whitelisted withdrawal address, a user must wait 24 hours before they can withdraw that asset… another layer of security that Celsius Network has built into their system.
Tip #8: General Security 101 Tips
When it comes to your Celsius wallet, oftentimes just follow your intuition and common sense. Here are some general tips for Celsius wallet security:
- Don’t use public or unsecured WiFi networks (or use a VPN)
- Don’t use public or shared computers or devices
- Use anti-virus software on your digital devices
- Protect your personal email accounts from SIM SWAP attacks
- Always log off when you are finished
- If it looks an feels like a scam, it probably is
- If it looks and feels like a phishing attempt to gain access to your personal data and accounts, it probably is
- Don’t click on any strange links, especially if sent via email, posted on Twitter or social media or texted via mobile.
- Always verify the source of the information or link or message.
- Don’t ever provide personal or confidential information unless you have the individual or company verified first
- Check to see if your personal data has been leaked
The only effective way to ensure cyber readiness is to have a commanding view across the organization, and a clear picture of one’s internal and external threat maps.
Here are some keys points for Celsius’ security protocols:
- top tier privacy and data protection
- use of Multi Party Computation (MPC) and other unique and proven tech to provide top level security and asset protection
- cyber intelligence
- incident response experts
- crypto and cryptography innovators and experts
- global multidisciplinary group
- bug bounty
- staff training and awareness
- immutable audit trail
- 24/7 security operations centers (SOC)
- backup and retention protocols
- incident response drills and dedicated teams
- disaster recovery
We hope you enjoyed our Celsius Wallet Security 101 Guide. Stay hungry but stay safe!