🔐 Security & Risk Management in Crypto
Learn how to protect your assets and manage risks while dealing with cryptocurrencies.
1️⃣ Security
- Use strong, unique passwords: Don’t reuse passwords and always enable two-factor authentication (2FA).
- Use hardware wallets: For long-term storage, hardware wallets like Ledger or Trezor provide top-tier security.
- Store private keys safely: Keep your seed phrase and keys offline in secure locations.
- Be cautious of phishing: Don’t click unknown links or download unverified apps/plugins.
2️⃣ Risk Management
- Diversify your portfolio: Don’t invest all your money in one coin. Spread across different assets to reduce risk.
- Set stop-loss limits: Protect yourself from large losses by using stop-loss tools on exchanges.
- Only invest what you can afford to lose: Crypto is volatile. Never risk essential funds.
- Stay updated: Follow crypto news and market trends to adjust your strategy timely.
🔒 Wallet Security
- Use cold wallets (hardware wallets) for large holdings.
- Enable password & biometric security on hot wallets.
- Back up your wallet and seed phrase in secure offline locations.
- Don’t store credentials on email or mobile notes apps.
🏦 Broker Account Security
- Use well-known, regulated exchanges like Binance, Coinbase, or Kraken.
- Activate email/SMS/2FA login confirmations.
- Review login history and access logs regularly.
- Withdraw funds to private wallet after trading.
🛡️ How to Keep Your Crypto Safe
- Use hardware wallets and multisig options if available.
- Never share your private keys or seed phrase with anyone.
- Beware of fake apps and scam coins.
- Regularly monitor your wallet for unusual activity.
