5 Ways To Protect Your Crypto.
I have heard stories of people’s crypto leaving their wallets and not getting it back.
It's either they sent it to a wrong wallet address, or clicked on a wrong link, or they got a fake message and shared their personal information.
I remembered a friend of mine, who got an email saying her account was hacked and she had to click on a link, which wiped out all her crypto. This left her heartbroken for a long time, because all her life savings went into thin air within a blink of an eye.
Day in, day out, these complaints keep increasing and it sometimes discourages those who don't know much about the crypto industry or how it works, and they might start calling it a scam.
The truth is online scams will always continue, but you can get familiar with the ones that are common and try to avoid them.
In this article, I pointed out five(5) ways on how you can protect your crypto.
- Do not share your private keys/ key phrases.
Never ever share your private keys with anyone, not even to the point of showing it. No crypto community managers, Twitter personality, a website or a crypto project should ever ask for your private keys/ personal information.
2. Have a unique password for every account.
Avoid repeating passwords whenever you want to open a new account or using a very simple password ( i.e birthdays, a name etc). Do not take screenshots of your password or private keys. You can also change your password regularly.
3. Use a cold wallet.
Cold wallets are also known as hardware wallets. It’s an offline wallet unlike hot wallets ( which uses the internet). Cold wallets do not connect to the internet, which makes them not prone to cyberattacks.
When you store your private keys in cold wallets, it makes your crypto safer.
4. Avoid clicking unknown links(phishing links).
Many scams do come through links in ads and emails and they are the most rampant in the Cryptocurrency space.
Before clicking on any link, cross check it and make sure it’s from a trusted source.
5. Create multiple wallets.
When creating crypto wallets, there's no limitation. It helps you to diversify your cryptos and manage your portfolio. You can also use different wallets for different purposes ( i.e daily transaction, airdrops etc).
It is your sole responsibility to protect your assets, because the crypto industry is growing and evolving everyday. Ensure to update yourself with the latest prevention method, security tips and other happenings in the industry.
#Day 3 of my consistency challenge.