How to keep your cryptocurrency safe

[troubled soul]

Disclaimer: I am no crypto safety expert and this post is aimed at people newer to crypto who may not know this.

1. Use a hardware wallet. A hardware wallet is a physical device that stores your cryptocurrency offline. This makes it much more difficult for hackers to steal your funds. Some popular hardware wallets include the Ledger Nano S and Trezor.
2. Beware of phishing attempts. Phishing attacks are a common way for hackers to steal your cryptocurrency. They will send you emails or text messages that look like they are from a legitimate source, such as an exchange or wallet provider. These emails or text messages will often contain a link that, when clicked, will take you to a fake website that looks like the real website. Once you enter your login credentials on the fake website, the hackers will steal them. To avoid phishing attacks, never click on links in emails or text messages from senders you don't know. Instead, go directly to the website of the exchange or wallet provider in question and log in from there.
3. Use strong passwords and enable two-factor authentication (2FA). Strong passwords are at least 12 characters long and include a mix of uppercase and lowercase letters, numbers, and symbols. You should also enable two-factor authentication (2FA) for all of your cryptocurrency accounts. 2FA adds an extra layer of security by requiring you to enter a code from your phone in addition to your password when you log in.
4. Keep your software up to date. Exchanges and wallet providers regularly release software updates to patch security vulnerabilities. To protect your cryptocurrency, you should always keep your software up to date.
5. Never share your private keys. Your private keys are the keys to your cryptocurrency. They should never be shared with anyone, not even customer support. If you lose your private keys, you will lose access to your cryptocurrency.
6. Store your cryptocurrency offline. If you are not planning on using your cryptocurrency on a regular basis, you should store it offline. This means storing it on a hardware wallet or in a paper wallet. Hardware wallets and paper wallets are not connected to the internet, which makes them much more secure than storing your cryptocurrency on an exchange or in a hot wallet.

If you have any more tips ...kindly share

 

[EliasIT]

Use a hardware wallet. A hardware wallet is a physical device that stores your cryptocurrency offline. This makes it much more difficult for hackers to steal your funds. Some popular hardware wallets include the Ledger Nano S and Trezor.

best advise ever, have been using the Nano S for years and happy to have chosen that device.

 

[uranium]

If you have like 1 million minimum in crypto then a custody account with bug banks like seba sygnum frick
Cost you like 1% custody in fees but you sleep well
You can get a loan against your crypto as well and a debit card

 

[void]

If you have like 1 million minimum in crypto then a custody account with bug banks like seba sygnum frick

if you're talking about multisig setup then (BIG) maybe
if full custody then it's a crazy idea

Cost you like 1% custody in fees but you sleep well

that's insane

 

[uranium]

if you're talking about multisig setup then (BIG) maybe
if full custody then it's a crazy idea


that's insane

1% a year

 

[void]

1% a year

I understand - still insane...

 

[uranium]

But safe

 

[JohnnyDoe]

If you have like 1 million minimum in crypto then a custody account with bug banks like seba sygnum frick
Cost you like 1% custody in fees but you sleep well

Very good example of a brainwashing victim

 

[uranium]

Very good example of a brainwashing victim

Suggest better idea if you have

 

[JohnnyDoe]

Suggest better idea if you have

Crypto=self custody=trustless
Fiat=third party custody=third party trust

You have a self trust problem to solve before thinking about money.

 

[troubled soul]

Crypto=self custody=trustless
Fiat=third party custody=third party trust

You have a self trust problem to solve before thinking about money.

True.....If you own crypto and still want bank......so what is the problem in tradition bank system...
Crypto give you financial freedom...by giving someone crypto for custody will remove that freedom..
Always remember weather It is swiss or usa company......or even Government service for crypto custody

Not your key Not your coin​

 

[uranium]

True.....If you own crypto and still want bank......so what is the problem in tradition bank system...
Crypto give you financial freedom...by giving someone crypto for custody will remove that freedom..
Always remember weather It is swiss or usa company......or even Government service for crypto custody

Not your key Not your coin​

I would trust a swiss crypto bank like seba sygnum swissquote but for big amounts.
If small better in wallet or maybe exchange
Don't forget that banks or exchange give option to convert your crypto to fiat with one click

Guys tell me why wouldn't you trust bank like swissquote
Its shares are traded in stock market

 

[EuroKiss]

I would trust a swiss crypto bank like seba sygnum swissquote but for big amounts.
If small better in wallet or maybe exchange
Don't forget that banks or exchange give option to convert your crypto to fiat with one click

Guys tell me why wouldn't you trust bank like swissquote
Its shares are traded in stock market

What’s the meaning of holding crypto then?

 

[JohnnyDoe]

Its shares are traded in stock market

are you serious?

 

[uranium]

are you serious?

Very serious
Swissquote Group Holding SA
SWX: SQN

What’s the meaning of holding crypto then?

Crypto custody
They hold your Crypto for you but you pay them a fee
Just like safebox at bank

 

[JohnnyDoe]

Very serious
Swissquote Group Holding SA
SWX: SQN


Crypto custody
They hold your Crypto for you but you pay them a fee
Just like safebox at bank

I think he is trolling us

 

[jafo]

if you're talking about multisig setup then (BIG) maybe

Can you explain this, please? What is (BIG)?

 

[void]

Can you explain this, please? What is (BIG)?

- I meant not just "maybe" but "big maybe" - in a sense that it's really questionable idea even if it's just a partial custody powered by multisig

 

[jafo]

Very serious
Swissquote Group Holding SA
SWX: SQN


Crypto custody
They hold your Crypto for you but you pay them a fee
Just like safebox at bank

What they are saying is that you pay for the service but it is NOT insured. If the bank goes under, and someone absconds with your crypto (e.g. swap BTC to XMR) there is little to no chance of getting it back (in reality...on paper everything is possible, but in practice things change).

As the "safebox" is concerned, please read the following: Safe Deposit Boxes Aren’t Safe (Published 2019)

It boils down to people and culture. In Switzerland or Monaco, you may be better protected "morally", but I wouldn't count on it.

- I meant not just "maybe" but "big maybe" - in a sense that it's really questionable idea even if it's just a partial custody powered by multisig

I thought it was an abbreviation for something I was unaware of . Well, next time I will wait before jumping on Google and DuckDuckGo, Baidu etc

Searching "BIG" really delivered things I was in no way prepared to "handle"

Thanks for the laugh!

PS. I also agree with you 100%. Had I done custodial services, the exchanges and banks would have CRSd me by now.

 

[void]

Very serious
Swissquote Group Holding SA
SWX: SQN


Crypto custody
They hold your Crypto for you but you pay them a fee
Just like safebox at bank

I suspect you're not serious and just shilling these services/companies here - right?