Crypto can be interesting. Crypto can be captivating. Crypto can be fun. These are especially true when you minimize the chance of getting rekt. You can avoid common cryptocurrency security errors 2 ways:
a. learning from your mistakes
b. learning from other people’s mistakes
The latter is suggested. Below is a list of anti-rekt tips to help you have a fun and safe crypto experience.
1. Never share your seed phrase. Not with anyone. This should be safety tip # 1, #2, and #3 since ignoring this tip can be highly perilous. Write down (do not copy/paste it into a computer file) your seed phrase and don’t show it to anyone. Stash your seed phrase in a secure spot. Remember where you stashed it. If you lose your seed phrase and you lose access to your wallet, your crypto is gone forever.
2. For certain wallets you are NOT REQUIRED to write down your seed phrase. Do this anyway. If you have a wallet that did not require your seed phrase initially, find your seed phrase and write it down asap. Your pen and paper are waiting.
3. When you initiate, confirm or verify transactions, be sure to look closely at the website urls, wallet addresses, and contract data. You want your tokens, NFTs, etc to go to their intended locations, correct? Double check wallet addresses and transaction info prior to hitting “confirm” or “send”. Also, the more you pay attention to these details, the more your will learn about crypto. The more you learn, the more you will appreciate the beauty of the blockchain and have fun in the world of cryptocurrency.
4. Stay away from DMs unless you know the person. Most strangers who hit up your DMs are either spamming, shilling or simping. Some may be more malicious. Avoid communicating with someone from your DMs and definitely avoid opening links or files from unknown users.
5. Consider getting a hardware or “cold” wallet. A hardware wallet stores your private keys away from your desktop or phone. Since computers and devices are the target of hackers, keeping key information on a hardware wallet will put you on a path to increased safety. There are a number of hardware wallets on the market. Choose which one works best for your situation.
Crypto is fun. To make sure it remains fun, be sure to take safety precautions. Use the 5 tips as a starting point. These do not constitute financial or cybersecurity advice. Read articles, watch youtube videos, listen to podcasts and seek information from professionals. Learn as much about safety and security as you can. Be alert, be aware of potential pitfalls, but above all, have fun.
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