juissynft
2023/03/17 12:11
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Many of our subscribers are still "new to cryptocurrencies". And especially for you we prepared a post with basic rules of handling and storing your crypto.
1️⃣ Seed-phrase
We all know that when we create a wallet, we get a Seed-phrase that gives us access to the wallet on any device. But are we handling it correctly?
We can assume that most of you have the seed-phrase stored in your notes on your phone or computer. You should not do so, because your phones can also be attacked. And we're not just talking about hacking.
Your phone or laptop can be stolen, and if there is information about your crypto-purse inside, the loss can greatly exceed the value of the device itself.
In our opinion, the most correct way to keep a seed-phrase, even in spite of the digital age, is a piece of paper, which you leave in a safe or other secluded place. You can learn it, of course, but we wouldn't recommend being so sure of your memory.
2️⃣ Hardware wallets
An additional safeguard against hacking and stealing funds from your wallet can be the use of so-called "cold" wallets, which are not online and are offline until you need them. They are ideal for storing your tokens. You can always plug in the wallet and make the transactions you need, and the rest of the time your tokens will be safe.
We would recommend choosing between Ledger and Trezor.
Buy cold wallets only from official manufacturer sites. Marketplaces, online stores (even large ones), classifieds sites, and even more so used devices can pose a risk to your funds.
3️⃣ Exchanges
Let us mention that you should not keep large amounts of their funds in the centralized exchanges. At any time the exchange can be subject to hacking, or any failure, or the exchange can impose restrictions on your account, thereby blocking your funds.
Keep on exchanges only necessary minimum for trade/exchange, and use only trustworthy and large exchanges.
The major exchanges are Bi nance, Huobi, ByBit, Gate.
4️⃣ Stablecoins
We all use stabelcoins until we decide to invest somewhere else. Our main advice is don't keep all your money in one type of stabelcoin.
Split the amount among several stabbles, thus diversifying the risks (even though the risks are minimal, but we all remember the UST case.).
❔ In the first part of this post, we only covered the basics. We can prepare the second part, in which we will tell about spam from projects to personal messages and Email, fake sites of projects, deception on OTC-platforms and etc. Would you be interested in such content?
👍 - Yes
👎 - No
#Money hack: Soaring crypto#LUNC has started the next round of epic rise#HTX Talks
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