Top 5 crypto mistakes that you should not make
As we move into 2022 I want to share some of the things I have got wrong in the past and some of the things that I see new people entering the space constantly doing wrong. At the end of the day we want to make sure that we are making money and more important, make sure that we are not losing it. Therefore in this short article I will tell you about my top 5 crypto mistakes that you should not make.
Security is extremely important for anyone operating in the crypto space. There are a number of things you need to understand to stay safe.
The seed phrase is like a key to your vault, so the writing down of the characters/words and storing it safely is the thing that basically controls your assets. So every time you open your wallet you are going to be given an opportunity to write down your seed phrase. Make sure that you do!
Where you store that seed phrase and password around the access to that wallet are also extremely important. One of the most easily made mistakes is either the loss of the password or seed phrase.
You could use a hardware wallet such as a Ledger, plus there are also multi-sig wallets. Which option you choose will depend on the size of capital that you own.
One of the top tier mistakes that people often make is around the failure to write down their seed phrase correctly, a lost seed phrase or a forgotten or lost password. If you do this its effectively like losing all of your assets and you certainly want to avoid this at all costs.
# 2 Hacked Accounts
Hacked accounts usually happens through email phishing, repeatedly weak passwords, not using 2 Factor Authentication and something like a SIM swap where you get into close proximity to someone and they steal your data.
Email phishing is quite easy to spot; don't open any weird links, don't fall