As the popularity of cryptocurrencies continues to grow, so too does the risk of scams and fraud within the industry. In this article, we will focus on how to stay safe in the world of crypto and minimize your risks while conducting transactions.

Personal Wallet

If you use a personal wallet instead of an exchange, one of the most important things to remember is to keep your secret phrase password in a secure location that nobody else can access. Your secret phrase is a combination of 12-24 randomly generated words that serves as your password. If you need to access your wallet from another device, you'll need to write down your secret words in the exact same order that you received them at the beginning. It's best to write down your secret phrase password on a piece of paper and store it in a safe location rather than on your computer. Additionally, make sure that you do not connect your wallet to any suspicious sites, and always verify whether your wallet has remained connected to any apps, even those that you trust. It's always better to disconnect your wallet from any app that you're not actively using.

Crypto Exchange

If you use a crypto exchange to keep your funds secure, you'll have multiple layers of security for signing transactions and transferring your crypto to other wallets or exchanges. Google Authenticator is an excellent tool for signing transactions. Every minute, it generates a new 6-digit password that you must enter to sign a transaction. You can also provide your phone number to receive an SMS code for every transaction you want to sign. Fingerprint scanning is another common layer of security.

Although there are different ways to keep your crypto safe, we prefer to keep our funds in a personal wallet, as the saying goes: "Not your keys, not your crypto." By using the tips outlined in this article, you can ensure that your crypto remains safe and secure, and avoid falling victim to scams and fraud.