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Author Topic: How do I keep my cryptocurrency safe?  (Read 326 times)
sakib.bro
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March 18, 2018, 10:50:42 AM
 #1

I think it will  help all the beginners to improve there security in crytocurrencies..............

The safest way to store your airdrops are hardware & cold storage wallets. These wallets store your coins offline, and therefore protect them from being hacked. There are a number of hardware wallets available. We would advise to use the Ledger Wallet Nano S or Trezor.

Not all cryptocurrency can be stored in hardware wallets. We advise you to store your crypto in wallets where you control your private keys. You don't want your free crypto to be stolen!

To avoid scams we have a few general rules:

    Never give your private keys! beware of it
    Use 2 Factor Authenticator on your wallets. it safest way to protect
    Be careful downloading wallets of smaller projects. (make sure every thing or double check it)
    Never click on links redirecting to wallets .............. its very dangerous
    Don’t use your main email address to apply for airdrops
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March 18, 2018, 11:08:37 AM
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Use a nano ledger and keep the code and the ledger at a safe place
https://www.ledgerwallet.com/products/ledger-nano-s?gclid=EAIaIQobChMIqOCl39312QIVzrXtCh2FrAI0EAAYASAAEgJGvfD_BwE

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March 18, 2018, 12:16:59 PM
 #3

For those staying in countries that a nano ledger or hard wallet isn't readily available, the best practise is to be highly security conscious.

I cannot over stress the importance of 2fa.

Also, we shouldn't forget to backup, your Cryptos can be safe but inaccessible because you forgot to backup.

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loginov
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March 18, 2018, 02:39:08 PM
 #4

I think it will  help all the beginners to improve there security in crytocurrencies..............

The safest way to store your airdrops are hardware & cold storage wallets. These wallets store your coins offline, and therefore protect them from being hacked. There are a number of hardware wallets available. We would advise to use the Ledger Wallet Nano S or Trezor.

Not all cryptocurrency can be stored in hardware wallets. We advise you to store your crypto in wallets where you control your private keys. You don't want your free crypto to be stolen!

To avoid scams we have a few general rules:

    Never give your private keys!
    Use 2 Factor Authenticator on your wallets
    Be careful downloading wallets of smaller projects
    Never click on links redirecting to wallets
    Don’t use your main email address to apply for airdrops
    Don’t re-use your passwords when you register on a website
    Don’t send small amounts of crypto to receive your airdrop

In addition to the methods you mentioned, you can also spread your investments in multiple exchanges to remain safe. In case one exchange is hacked, your investment in other ones will be safe.
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March 18, 2018, 11:46:35 PM
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In addition to the methods you mentioned, you can also spread your investments in multiple exchanges to remain safe. In case one exchange is hacked, your investment in other ones will be safe.
A loss is still a loss to me though, it'd be better to store your coins/tokens/altcoins on a Desktop wallet.
Only send amount that you are going to trade, otherwise keep it inside.

To avoid scams we have a few general rules:
Never download/install anything suspicious to add to the list
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March 19, 2018, 04:57:11 AM
 #6

To avoid scams we have a few general rules:

Invest in paper or hardware wallets.
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March 19, 2018, 05:44:25 AM
 #7

To avoid scams we have a few general rules:

General rules are one thing, second is to avoid proactive'ly.
The more you know about whole "computer world" the less likely you will get scammed.
Learn, learn and one more time learn. That have biggest chance to keep you safe.
Even computer experts are hacked, but its 0,01% chance compared to average person.

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March 19, 2018, 09:55:16 AM
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I highly highly recommend the Ledger Nano S Hardware wallet. It holds up to 5 different cryptocurrency slots, swap in/out with over 20 cryptos without losing anything, and it's the most secure cold storage hardware wallet solution on the market right now. Never had a problem with it, works flawlessly.
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March 19, 2018, 01:37:42 PM
 #9

Any crypto coin is owned by the individual/entity is they are holding the private key of the same so it is necessary to keep private key under our own control without sharing it with others including web wallets/exchanges etc. One can use securely generated paper wallet or reputed hardware wallet to store funds offline to prevent it from unauthorized access.

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March 19, 2018, 07:05:37 PM
 #10

Here's a post which covers securing your crypto-assets comprehensively - https://steemit.com/bitcoin/@notsofast/4-ways-to-secure-your-bags-bitcoin-altcoins-cryptoasset-tokens-whatever-a-notsofast-security-primer
Highly recommended.

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March 19, 2018, 07:07:30 PM
 #11

I think it will  help all the beginners to improve there security in crytocurrencies..............

The safest way to store your airdrops are hardware & cold storage wallets. These wallets store your coins offline, and therefore protect them from being hacked. There are a number of hardware wallets available. We would advise to use the Ledger Wallet Nano S or Trezor.

Not all cryptocurrency can be stored in hardware wallets. We advise you to store your crypto in wallets where you control your private keys. You don't want your free crypto to be stolen!

To avoid scams we have a few general rules:

    Never give your private keys!
    Use 2 Factor Authenticator on your wallets
    Be careful downloading wallets of smaller projects
    Never click on links redirecting to wallets
    Don’t use your main email address to apply for airdrops
    Don’t re-use your passwords when you register on a website
    Don’t send small amounts of crypto to receive your airdrop

Here is an updated list of available hardware wallets. https://bitcointalk.org/index.php?topic=3066531.0

Rule of thumb if you want to be super safe. Keep everything off line and never talk about it.

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March 20, 2018, 12:01:41 AM
 #12

Diversify your exchange platforms but also your wallets. This might apply a little more to someone who holds a large amount of different coins, and is tech savvy, after all managing your wallets is a skill that takes time to learn. Whatever a beginner might do, the main point should be to avoid the habit of leaving their currency on the actual exchange site. Learning coin ownership is a must, and it requires having an understanding of what an address really is and everything a transaction entails.

Paper wallet for optimal cold storage, for everything else a hardware wallet like a trezor or nano--then maybe a mobile wallet for convenience/liquidity--if necessary.

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Paractor
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March 20, 2018, 01:28:58 AM
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 #13

Even a ledger nano can get hacked into.

I haven't heard of anyone having their trezor getting hacked yet.
But it could probably happen too since it gets plugged into the internet at some point.

Best to just use a paperwallet. Wink

Andatello
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March 20, 2018, 06:42:20 AM
 #14

I highly highly recommend the Ledger Nano S Hardware wallet. It holds up to 5 different cryptocurrency slots, swap in/out with over 20 cryptos without losing anything, and it's the most secure cold storage hardware wallet solution on the market right now. Never had a problem with it, works flawlessly.

I would agree with this, I have been very impressed with the ledger nano s and its ease of use.

Also might seem obvious but ensure your computer is secure, up to date virus and malware protection. Never open and click on links within emails that you don't expect or look suspicious.
jseverson
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March 20, 2018, 08:11:17 AM
 #15

Even a ledger nano can get hacked into.

I haven't heard of anyone having their trezor getting hacked yet.
But it could probably happen too since it gets plugged into the internet at some point.

Best to just use a paperwallet. Wink

Hardware wallets haven't been hacked remotely yet. They're designed in such a way that private keys never leave the device, so it shouldn't matter if it has been plugged into the internet. That being said, they could be tampered with if a hacker gets their hand on it in person. They're 100% safe so far otherwise. This is why you should never trust hardware wallet resellers.

But yeah, paper wallets are a little inconvenient, but could be just as safe, if not safer, if set up correctly.

dmitrij77
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March 20, 2018, 06:50:50 PM
 #16

Diversify your exchange platforms but also your wallets. This might apply a little more to someone who holds a large amount of different coins, and is tech savvy, after all managing your wallets is a skill that takes time to learn. Whatever a beginner might do, the main point should be to avoid the habit of leaving their currency on the actual exchange site. Learning coin ownership is a must, and it requires having an understanding of what an address really is and everything a transaction entails.

Paper wallet for optimal cold storage, for everything else a hardware wallet like a trezor or nano--then maybe a mobile wallet for convenience/liquidity--if necessary.
fully agree, the best is to keep your funds in different wallets/exchanges, nano s is one of the best option, check out this guide https://www.coininvestmentreview.com/best-bitcoin-wallets/ it provides up to date info on best wallets to store your bitcoins/altcoins
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March 20, 2018, 11:13:13 PM
 #17

Hardwallets will be more secured when you are using metamask extension because it will prevent you to enter to phishing sites you will get prompt not to enter because the site is a potential scam,plus metamask extension adds up some extra layer or protection whenever you are using decentralized exchanges,you private keys will be encrypted inside the mask so that these phishing sites and hackers wont have any chance of getting your keys.

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March 21, 2018, 03:50:27 AM
 #18

I find myself more comfortable and secure with hardware and cold storage wallet  because it can protect my currency from hackers and thief. Preferably ledger nano S or trezor can be used.
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March 21, 2018, 04:03:05 AM
 #19

I think the problem is safe to store the crypto is very difficult. In addition to personal protection measures like privacy. used for hardware is the best solution. but be careful and meticulous that is the main problem.
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March 21, 2018, 06:00:20 AM
 #20

Hi, I hope this will help. Find a wallet that you know have a lot of good reviews, for me it's myetherwallet. Then if you already have, don't give out to other people your private key. Save it or right it somewhere that no one can see it. Don't trust anyone. And never ever give your personal information or download anything suspicious to avoid being hacked.
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