Safety of E-Currency using


Electronic money is actively gaining the financial market in every country of the world, regardless of the status of the country and the degree of its infrastructure development. It has become the primary payment methods for goods and services and replaced the paper money across the planet. Cryptocurrency has occupied a special place and competes with other electronic payment systems. Digital money is not necessary to carry, computer or mobile phone with Internet access is just enough to make a payment.


Using electronic money, one should be aware of ways to protect them from fraud. Simple rules for payments made in stores or online services will help to keep earned capital safety.


The main measures to protect the electronic money


Paper money is protected with signs. As per electronic finances situation is different:


Password, control code, PIN - defined sequence of characters. Sometimes multiple passwords are used, which are administered at different stages of the payment process. PIN consists of 4 digits, which are easier to pick up than the password consisting of letters with mixed case, numbers and special characters. For the PIN system gets locked after 4 incorrect entries.

Key files. They are received when registered in the system. Access to the purse is not possible without a key. Key files have their own password.

Screen keyboard. It helps to protect from keyloggers, programs that read the taps on the keyboard.

Passphrase is effective against phishing. If the passphrase is different from the set, the page is a fake.

Account Lock. After a call or SMS message the user prohibits any transaction with the account. Measure is crytical, but is also highly reliable.


How to secure the electronic money from the fraudsters?


Using a variety of methods of protection, though does not guarantee complete security of storage facilities on the account, but minimizes the risks. Here are the main ways of hacking the electronic purses and unauthorized withdrawals:


Phishing site. Scammers create a copy of the official websites on which one needs to enter electronic payment system details. Sites are almost indistinguishable on the first look. Fraudsters get passwords and wallets IDs, and there is no impediments for the money transfer from accounts. There is no reliable protection against phishing, because it is constantly "mutating".


Phishing app on Android and iOS. Fraudsters send fake messages to the user device to obtain personal information of the payment system. Fishing can be hidden under the guise of popular apps, emails or SMS from legitimate senders (banks, tax authorities).


To become secured against phishing, the following safety rules must be obeyed:


• Check the link of the web addresses. Even one letter change should alert.

• Before entering the login check connection protection. make sure that web address has https with the letter s (secure).

• References from friends and official bodies can also be harmful. Friend might have been cheated or hacked into his e-mail. Official letters can be forged. Scams are seen through the wrong hyperlinks.

• Instead of clicking on the link, it is better to type the address manually.

• Update anti-virus software in time.

In addition, it will be useful to self-establish the rules of use of wallets:


Keep the keys in the external storage. The goal of many viruses and Trojans are the files with the keys. keys can be preserved with renaming them or increasing their size.

Use protection codes. They will protect against the interception of money. The security code is available only to the sender and the recipient.

Adhere IP-address to the electronic wallet. This will improve safety and enable authentication to enter a single access point to the Internet.

Keep track of passwords. If it is difficult still for you to remember, then keep a record in a safe place. Enter a password via the virtual keyboard.

Use a personal computer to access. If you still have to use a common access computer, do not allow the browser to remember passwords.

Do not share your password under any pretext. Payment system never needs to tell the password. No factors that justify such requests. In case the password is lost, it will offer to create a new, and not send the old - it is not stored in the database.

Set a limit on withdrawals. Most payment systems have a similar function. Such a measure will help save some funds.

Do not enter your account in public places. Fraudsters make it easy to recognize the data entered during authorization.

Monitor the status of e-wallet account. In case of suspicious movements of funds immediately contact the payment server administration.


Cryptocurrency Protection


Cryptocurrency users are unidentifiable. Despite the high level of security, Bitcoin wallet can also be cracked. Cryptocurrency protection measures are as follows:

• Keep only small amounts in the mobile wallet. The rest is better to safely hide in the storage in your computer's hard drive.


• Create a backup of the purse in removable media.

• Use wallet encryption. Correct approach to personal data security and compliance with the above rules will help keep your digital money safely.