How Not to Lose Cryptocurrency?

Here we will look at 8 tips on how to protect yourself and not lose your cryptocurrency…

1. Strong password.

Let it be the most basic, but it’s always better to keep it in mind. Create a complex password — a long string of characters that mean nothing and have no logical connection, which means they are difficult to guess. The worst passwords are ordinary words or a combination of several simple words.

2. Work on a device with an installed antivirus.

Install an antivirus on your device, or use the one built into your device.

3. 2FA — two-factor authentication.

2FA is a relatively reliable additional level of protection for your account, not only by entering a login and password, but also by using a code that comes as SMS, mail or in a separate application.

4. It is strictly forbidden to use free WiFi.

These networks are weakly secured — there is no encryption or password. Fraudsters intercept your logins and passwords, including those from a mobile bank, payment details, passport data.

5. Be sure to check the address bar.

A lot of people do not drive in the address in the browser directly, but do a Google search and habitually follow the first link. Fraudsters can completely copy the site, buy a similar domain and use Google ads to keep it in the first place.

6. Write down the seed phrase and password in a safe place.

Writing in a notebook or on a separate sheet is an unreliable option. They are easy to forget, lose, or someone can take them. There is a risk of not making out your own handwriting.

7. Distinguish what and where to send.

Each currency has its own special wallet. Before sending crypto, you need to check if the wallet is suitable for receiving this currency. Otherwise, the crypt will go nowhere and it will not be possible to restore it. As an example, send ether to a bitcoin wallet.

8. Do not send a large amount at once.

Divide a large translation into several smaller ones. Wait until the first transfer arrives and only then send the rest.

If you follow these simple tips, then you will reduce to zero the risk of losing your cryptocurrency.

If you decide to try your hand in the world of cryptocurrencies, do it with a trusted and reliable partner — Binance .

CoinShark is not responsible for the content, accuracy, quality, advertising, products, or any other content posted on the site. This article is for informational purposes, and not a proposal for action, prepared on the basis of materials and information from open sources.

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