Cybersecurity in cryptocurrencies

Crypto Security

One of the most important things to do when managing and holding crypto currencies is their storage. Security is the most important part of holding bitcoins, etherums, etc

Paper Wallet

A Paper wallet is the most basic form of a cryptocurrency wallet. It is simply a piece of paper upon which the private and public keys of your cryptocurrency are written/printed on. These are incredibly cheap and easy to create and can result in an incredibly secure wallet if done correctly because the wallet does not touch the internet and is not hosted on a server or on a potentially infected device. However, it is tedious to move funds around using paper wallets and they are prone to damage and loss.

Software Wallet

A software wallet is a wallet client that is hosted either on a computer, or on a mobile device. Software wallets allow for much more complex wallets with multiple private and public keys all linked to your master account. This makes it easier for you to move funds around and harder for potentially malicious third parties to track the movement of those funds. With most software wallets, your keys are created and stored only on the device where the wallet is installed with a recovery phrase given to you in case of device theft or loss. Software wallets make sending and receiving transactions incredibly easy, however the wallet is only ever as secure as the device it is installed on. A compromised computer or mobile device can result in a compromised wallet.

Online Wallet

Online wallets are similar in function to software wallets in that they also allow you to have multiple private/public keys. However they have the added feature that you can log into your wallet from any computer that has internet access and you do not need to worry about what happens if you lose your computer. While this added feature makes them more user friendly than even software wallets, it comes with added risk. Online wallets often keep a copy of your keys or manage the keys for you (giving you a simple username and password to access your account) resulting in a greater risk of hacking. In addition, because you have to access the wallet through a web browser, there is always the risk of phishing attacks.

Hardware Wallet

A hardware wallet is a device built specifically to create and manage cryptocurrency keys in the most secure manner possible. These small devices are engineered to be incorruptible to the point that they can be used on fully infected computers with no risk of being compromised. To make them tamper-proof, they are often built deterministically meaning any change in hardware would result in the entire device not working. Backups for your device come in the form of a recovery phrase so even if you lose it, your actual funds can be restored on another device. Hardware wallets are easier to use than paper wallets, however they are still tedious for making quick transactions due to the extra layers of security and the fact that you need to plug the device in to use it.

Hybrid Wallet

Hybrid solutions also exist, combining elements from multiple wallet types. You could choose to create a paper wallet but instead of printing out the keys, you save them on an encrypted file which you store on a USB device or make multiple copies and store them in a few different places. You can install and use a software wallet on a clean air gapped computer (never touches the internet) to create a semi-hardware wallet. You could use an online wallet but link it up with other online wallets to create a multisignature wallet (multiple keys required to spend).

With so many options out there, it can be hard to decide what type of wallet is right for you. Once you have chosen the wallet type there is also the question of which specific brand or software to go with. Our security specialists here at the AlphaBlock Financial Group are highly trained and always ready to help you find the best fit for your needs.  

What we offer

Security Services We Provide

Securing our clients and our clients cryptos is our top priority. For this reason we use the most trusted hardware / hybrid wallets and storage devices for all crypto funds.

Basic Wallet Setup

If you are new to cryptocurrency and you are not sure how to get started or which wallet to choose, this service is for you. We will guide through the installation of software or online wallets for all your cryptocurrencies, show you how to use them to send/receive funds, and we will teach you everything you need to know to keep your wallets as secure as possible. Whether you are a total beginner or an enthusiast looking to change set ups, our security experts are highly knowledgeable and will have no trouble guiding you through the process.

Offline Wallet Setup

For those who want to keep their cryptocurrency as safe as possible without relinquishing control to anyone, we offer our services in setting up offline cold storage and hardware wallets. Our team can help advise you on the best hardware wallets to purchase and guide you through the process of setting them up. We can also help you create customized offline cold storage using securely created paper (metal) wallets and/or various air gapped solutions.

AlphaBlock Vault

It can be harrowing to be solely responsible for keeping your cryptocurrency safe, especially when it grows from a small fortune into a large one. Managing your various wallets and backups can quickly become a nightmare, even for the most organized and meticulous a person. If the thought that you might lose your wallets and their backups drives you mad then storage in our secure vault is exactly what you need. We offer the opportunity for you to store your paper wallets, hardware wallets, and/or backups in a vault with 24/7 online surveillance, live streaming, and cutting edge biometric security. Keep your device or backup with us and rest easy.

Full Security Audit

You may already have a method for storing your cryptocurrency, but are you sure you
are doing everything possible to keep it secure? Let our experts do a full audit on your current setup to find potential security flaws and ways to improve it. We can then work with you on custom tailored solutions that fit your particular needs.

Whatever your needs, we at the AlphaBlock Financial Group are dedicated to providing you with the best service possible to ensure your cryptocurrency security needs are fully met.

Interested in any of our Services?

Contact us to get a quote, book an appointment or inquiry about our security packages.

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