During 2022 it seemed there was a hacking scandal almost every week; unfortunately, they are on the rise again. What can you do to stop this dangerous trend? In the past, investors would choose secure currencies like Monero (XMR) and Zcash (ZEC); storing your tentative tokens in Lockyourcrypto.com could be the new solution.
I want to say that I’m good with my money, but unfortunately, I’m notoriously bad. If I put my cash into a bank, I take it out immediately the next day and spend like there’s no tomorrow. With Lockyourcrypto.com, you can safeguard your tokens and limit your access to ensure you don’t pay silly during times you probably shouldn’t.
Hack is Back in Town
Last year seemed like the year that Hackers decided to up their game and get to work; the most significant security breach that springs to mind was the Ronin hack back in March last year. A North Korean-linked Lazarus Group expropriated around $620m worth of the Ethereum native coin ETH and USDC from the Ronin Network. Most recently, hackers have stolen nearly $200 million from UK crypto lending start-up Euler Labs causing its native coin EUL to nose dive. It may be time we start to review our options.
Zcash and Monero Encrypting Your Crypto
Zcash is a privacy-focused blockchain-based payment system utilizing a network with zero-knowledge proofs (ZKPs) that helps to shield transactions for its investors. The idea is that this process will help make all transactions private, even when utilizing public exchanges. Zcash was founded by The Electric Coin Company (ECC) and aimed to have transactions fully encrypted.
Monero was created as a grassroots movement and launched in 2014 with no VC funding or pre-mine to aid development. In the early life of Monero, they were a part of Bytecoin but forked into two versions to help the open-source format deal with any faults. What makes Monero so successful is the anonymization data processing technique, which helps to secure the transaction sender and recipient. The solution looks to help users interact securely and anonymously.
Lockyourcrypto.com: Giving You Peace Of Mind
Some crypto commentators have suggested that cryptocurrency technology developed faster than the technology around it to safeguard our investments. Many have countered that Blockchain is as safe as many banks, if not more so. The race between the robber and security is no new thing; cryptocurrency is just a digital representation and continuation of security innovation fighting against naughty bright sparks. Lockyourcrypto.com has entered this battle and offered an exciting solution to the security issue.
Statistically, many crypto hacks occur during transactions on exchanges with limited security functions. When investors are nervous and move their currency around during times of market tension, users are putting their investments at risk. Lockyourcrypto.com offers an encrypted solution with a timed safe to help you keep your tokens safe at an assigned duration. You can, of course, retrieve your coins in the case of an emergency designated at the point of transfer.
Lockyourcrypto.com has realized that only some are born crypto geniuses, so they have supplied an easy-to-use step-by-step guide on its website so you can get straight to secure your currency. When locking away your chosen amount of tokens in the safe, you can select any time frame you like; it’ll be there waiting for you to delve back into the market.
Unfortunately, hacking culture will not be going away anytime soon, so the race between security innovators and the web’s dark corners will be something to be mindful of for some time to come. As crypto projects continue to invest in safety measures to help improve investor confidence, Lockyourcrypto.com could help you have a nice break from worrying.
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