I’ve shared lots of information during this online privacy and security series.
I’m stacking the information in a way that hopefully makes it easy for you to take the steps necessary to protect yourself no matter what you are doing online.
So, if you have not already read our previous online privacy/online security info, here are the links so you can go back and get informed: Online Security 101, Data Breaches Put your Personal Info At Risk, Your Options Once Personal Data Is Compromised, Credit Monitoring & ID Theft Protection, Data Brokers – Who Is Collecting Your Data & Why, Think Online Security With Your Cell Phone, and Censorship of Free Speech & Ideas.
The Need For Increased Protection
It’s never been more important to optimize the way we do online transactions.
What we’ve seen from our favorite websites and online banking is a failure to protect user privacy and security.
Password leaks… identity theft… and poor authentication are problems that are only going to become larger in an increasingly online world.
The old ways of data protection simply don’t work.
Crypto is not immune… hosted wallets fall victim to many of the same faults that your banks and websites do.
If you think your favorite website has the ability to secure your data… you’re mistaken.
Facebook just last year had three-fourths of a billion accounts leaked due to poor security. Microsoft had 250,000,000 accounts leaked in the same year…Instagram had about the same…
Even the US Government had 200 Million data breaches… and the problem is getting worse.
In 2024, the National Public Data breach exposed the personal information of hundreds of millions of people, with up to 2.9 billion records, including Social Security numbers, addresses, and phone numbers, being leaked on the dark web… the company has since filed for bankruptcy.
Many people use the same passwords or variations of it on multiple sites, so a leak on one account could mean danger for dozens of other accounts, making these types of leaks especially damaging.
Introducing the Hardware Security Key
With all this chaos going on, what can we do to stay as safe as possible?
Might I suggest using a hardware security key… it adds another layer of privacy and security to your online data to make you totally secure.
A hardware security key is a form of data protection used by millions of people all over the globe… from internet companies protecting their data… even your grandparents doing banking… to social activists wishing to protect their privacy from an authoritarian government… the needs are endless…
The industry leader is YubiKey, which has zero account compromises in over a decade.
Being a physical “key,” it cannot be remotely hacked.
Hardware security keys feature one-tap, two-factor authentication using no passwords.
This makes it easy and convenient while still being secure enough to protect your online privacy… ultimately much safer than the alternatives.
The FIDO2/WebAuthn Standard
How do these keys work so seamlessly?
They are built on an open standard called FIDO2/WebAuthn.
This standard… backed by Google, Apple, Microsoft & the FIDO Alliance… allows hardware keys to replace passwords entirely.
Instead of sending a password over the internet, the key performs a cryptographic handshake with the website to prove your identity.
This means your actual password is never entered, and therefore can’t be stolen in a phishing attack.
This is the future of authentication, being built into all major browsers and operating systems.
Why Old Methods Fail
Desktop wallets [LINK – DESKTOP WALLETS] fall victim to many of the same scams that centralized sites do… especially due to phishing scams as most of your data can be accessed online.
Cold wallets [LINK – COLD WALLETS], while safer than the other alternatives, are more difficult to use, making them unappealing for business… their requirement of keeping all cryptocurrency offline also makes them inconvenient for a lot of situations…
Paper wallets [LINK – PAPER WALLETS], while arguably the most secure, can equally be considered the worst form of data protection available… they are easily misused and misplaced and can be accidentally destroyed at any time.
All of the above methods of data encryption for cryptocurrency have the potential for human error… either yours or the carelessness of someone you don’t even know.
A hardware security key doesn’t.. take your security into your own hands… I use & recommend Tangem (Save 10%)
How a Hardware Security Key Works
A hardware security key simply works as a flash drive that you plug into your device.
You verify your identity instantly by tapping the golden button on the key… you now have access to all of your social media, email, password managers, banks, and cryptocurrency.
It really is that easy… it even fits on your keychain!
It does this by creating a one-time password that verifies your identity on your favorite websites… even for websites that don’t support the device… it allows you to store a normal password on the drive that you can use to log in automatically with a single touch.
Hardware Security Keys & Crypto
Hardware security keys offer many solutions to cryptocurrency concerns.
I call it: “crypto for your crypto.”
Cryptocurrency is already the de-facto “currency of the internet”… so it’s worth taking the plunge to keep your money secure.
Security keys are supported by many of the largest crypto exchanges on the web… Kraken, Gemini & Coinbase here is the U.S. for example.
The bottom line, these keys help protect your cryptocurrency transactions at the exchange level.
Coinbase, one of the biggest endorsers of hardware keys, states one of the biggest reasons to use one is because of the frequency of attacks that steal user data, saying:
“While high-profile attacks on cryptocurrency companies make the biggest headlines, determined attackers know that the vast majority of theft is due to human error. Even the most vigilant security professionals can get fooled by phishing attacks, and phone porting attacks designed to intercept SMS verification codes still occur far too often.”
Securing Your Self Custody Wallet
This is the ultimate security upgrade for anyone holding their own crypto… remember… “not your keys, not your coins”
You can use a hardware security key to secure a self-custody software wallet [LINK – HOT WALLET] like MetaMask.
By using the key as the master signing device for your wallet, you create an air-gapped system… even if your computer is infected with malware that steals your screen password… an attacker cannot steal your funds because they cannot physically touch the hardware key to approve the transaction.
This is the gold standard for self-custody.
Hardware Security Keys for Business
Using a hardware security key at a physical location would do everything to boost your business.
If you have a tech-based clientele, using one to accept Bitcoin transactions would help build and guard your reputation, leading to more customers.
It reduces the risks of cryptocurrency transactions, builds name recognition and brand awareness while still protecting company data.
Not only is supporting a hardware security key for your business the secure route to go, but it’s also convenient and easy… you don’t need any extra hardware to accept it.
The one-tap feature makes it easy for your customers as well… 9 out of 10 of the biggest internet companies use some form of data protection similar to this, including Google, Facebook, GitHub & Salesforce.
Even governments use it, including the UK.gov & U.S. Department of Defense.
Taking Action
In an increasingly online world, it makes sense to take a step to protect your online data and privacy..,. this is especially true as we move to Web3.
Using a hardware security key to protect your online data is the modern, smart way to go… your online privacy and security is something you must take control of.
Take your security into your own hands and protect your own data.
