Simple tips to keep your crypto safe.

Updated: Nov 3, 2021

Many people can’t fathom the gains that are possible from crypto investing; literally thousands of percentage point gains are not unheard of and many people have had their lives changed as a result of making the right investment decisions.

Sadly however in a space where people are making life changing money it attracts the most despicable types of people who are happy to exploit a lack of knowledge or naivety.

In holding digital assets one has to face up to the fact that individual responsibility is a prerequisite. This requires some understanding, education and common sense to safely manage one’s digital assets. The crypto space can be a safe place to operate in, however hackers and scammers will do everything they can to exploit any weakness; at the end of the day they want your crypto coins!

In this short article I will lay out some of the simple things that you can do and you should know about in order for you to not fall foul of these nasty individuals who lurk in the darkest recesses of the digital arena.

Seed Words

Hackers, scammers and online thieves will try all manner of devious tactics to try and get you to give them your seed words.

Your seed words, which you should most definitely have made a careful note of and are being stored in a safe place having gone through the setting up of your crypto wallet, are 12 or 15 randomly generated words. These are unique to your wallet and they are essentially your key to your vault that holds all of your crypto; so anyone who has those words can access all of your money.

Allowing someone to have access to your seed words is akin to giving a complete stranger your bank card with the pin number written on the back!

How are they going to do that?