Investing online is not without risks. You can become a victim of cybercrime, whether you are a stock trader or owner of an eCommerce website. Statistics also show the rate of cyber-attacks has increased many times since 2020.
As a result, it is essential to protect your online investments by focusing on data security. Otherwise, you can experience a data breach that can cost you $4.5 million on average.
Additionally, you can face threats from malware, viruses, ransomware, and more. Here is what you need to do to protect your investor account and online data.
Secure the Basics
Whether you are a crypto trader or an online seller, you first have to take care of the basics. This simple step will help you secure your data and investment account. Here is what you need to do:
Use Strong Passwords
Always use robust passwords that are difficult to guess for all your accounts. Use a combination of numbers, special characters, and upper and lower cases. It will prevent cybercriminals from accessing your individual investment account and personal information.
Use an Antivirus
Always use antivirus for your computer or laptop. Additionally, go for reliable brands and don’t waste your time with free products.
You need the top security for your online investment account.
Select Trusted Providers
Your online broker or website hosting provider plays a vital role in protecting your data. As a result, you should be careful while selecting a provider and look for excellent security. For example, you can choose Zignaly.com to trade cryptocurrency with enterprise-grade security.
Below are the signs you should look for in any provider:
- Data encryption
- Application and server firewalls
- HTTPS connection
- TLS or SSL certificates
You will never ask, “Is my money safe in a brokerage account,” if you secure the basics.
Protect Your Online Business
Entrepreneurs need to go an extra step to secure their computer investment and IT infrastructure. They should install a firewall on the servers and for their web applications. Additionally, secure your connection with HTTPS and robust data protection methods like encryption.
Moreover, use monitoring tools to keep an eye on your investment account and website. Business owners should also invest in regular security audits for detecting loopholes.
Protect Your Private Information
We need to reveal a range of details about our identity and finances while investing online. The data may include your bank details and other sensitive information. Data breaches can compromise your private data and even reveal your identity.
Even the safest brokerage accounts can suffer from data breaches.
Therefore, it is your responsibility to protect your data and security investment. But how is that possible?
You can use a virtual private network or VPN to invest online securely. VPN encrypts your internet connection and keeps cybercriminals at bay. Additionally, you can even become anonymous and protect your identity.
Proxy servers are another method to attain anonymity and ensure brokerage account safety. Here are some proxy server reviews to get you started.
Educate Yourself and Stakeholders
Many cybersecurity breaches are the result of human errors. For example, phishing is a cybercrime that can succeed if the victim clicks on a link in an email or message.
Likewise, humans use weak passwords that cybercriminals can easily guess or decode. As a result, everyone should be aware of the security best practices while investing online. The same applies to the employees of your online business.
Try to educate your employees and yourself on best practices like:
- Verifying the identity of the sender of emails
- Identifying suspicious links
- Using strong passwords
- Not sharing credentials and private information with strangers
Is online trading safe?
Online trading involves risks that you can avoid with more awareness. Always take the basic steps to protect your account and private information. Use strong passwords, use an antivirus, and stop clicking on suspicious links in emails or messages. Additionally, use a VPN to protect your identity and invest anonymously.