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A lot of scams are ongoing in cryptoland and I wanted to share some ways to ensure you donāt become a victim and go about your life worry-free.
It is more likely you will be indiscreetly scammed than your account will be hacked. Most the time, nothing can be undone if your funds are withdrawn out of your wallet. Therefore, the onus is on you to protect your investments.
Here is a list of things I currently implement. If you think this is going overboard, donāt invest in crypto. You run a high risk of being another statistic in this sub posting something like āI was hacked and my funds are goneā.
Use a fresh email address for every wallet and exchange account you open
Mitigate the risk of your email being compromised. If a scammer, hacker, malware, whatever compromises your email, donāt let that be the endgame for everything you do and own. Putting all your eggs in one basket isnāt smart. Do not use the email you opened up 8 years ago, extensively used it for your entire online life, and shared its existence with thousands of websites. Data breaches occur all the time. The fewer links to your crypto accounts, the better. Enable 2FA. Use Gmail Advanced Protection Program if you require it.
Use strong passwords coupled with 2FA
If your password is āhornymonkeyā go and change it. Use lower and uppercase letters, numbers, and characters. Eg. ā69%HorNYm0nk3y#ā Write all your passwords down. Donāt use the same password as social media accounts. Fucking everybody is selling your data. For the love of God, donāt use the same password on everything you own! Every account password should be unique.
2FA stands for 2 Factor Authentication. It is a one-time, time sensitive code that is sent to you when logging in. Do NOT use SMS or email 2FA. Your email can be compromised, your number can be spoofed. Buy a Yubikey. Use a second Yubikey as a back up. Research what a Yubikey is. Donāt be cheap.
Bookmark legit websites
Pishing links download malware on your device. Donāt click on 3rd party links, scam emails, or anything asking you to enter your account login or seed phrase.
Use a dedicated computer
If you canāt afford this, then create a dedicated user account.
Buy the best antivirus you can afford
Bitdefender or Norton antivirus are the industry leaders. Both have the best malware detection. Couple this with a VPN. I researched this a lot, other companies just donāt have a high enough virus and malware detection rate.
Think twice about using your phone as your crypto wallet
A ton of accounts being drained are through hot wallets on phones. This could be due to phishing links, honeypot websites, public wifi, or some porn website. Use a cold wallet instead. I only use Metamask temporarily, or couple it with Ledger for staking.
Buy a Ledger or Trezor cold wallet
We have all heard the phrase āNot your keys, not your coinsā. If you are serious about security, this is extremely important. Exchanges can go insolvent in bear markets, or get hacked. Even if your computer is somehow compromised, a hardware wallet will keep your crypto safe. Unless you forget or share your seedphrase, your coins wonāt be lost/stolen.
Write down passwords and your seedphrase
Donāt type your passwords in Notes on your phone. Donāt take a picture of your seedphrase. No digital copies of these things should exist anywhere.
Do test transactions before sending 100% of your coins
Send small test transactions first. This ensures you donāt have active malware auto-entering a scammerās address instead of your own.
Feel free to add or share more. Do as many of these as your budget allows. Obviously if you are investing $20, then utilise everything that is free.
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Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio youāre using to start.
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