Security is one of the biggest concerns when it comes to cryptocurrency, but many investors still overlook some basic precautions.
It’s not just about having a strong password—it’s about securing your wallets, devices, and personal info.
Here are three common security mistakes crypto investors make and how to avoid them:
1. Leaving Funds on Exchanges
One of the most frequent mistakes people make is leaving their crypto on exchanges after they buy it. While exchanges make trading easy, they’re also prime targets for hackers, and even the largest ones have been hacked before.
What to do:
Use a hardware wallet: Move your funds to a hardware wallet like Ledger or Trezor, where you control the private keys.
Keep only what you need on exchanges: Leave only what you plan to trade in the short term on exchanges; the rest should be in your wallet.
2. Falling for Phishing Scams
Phishing scams are getting more sophisticated, with scammers pretending to be legit companies, exchanges, or wallet providers to trick you into giving them your login info or private keys. They often send fake emails, set up fake websites, or send you messages on social media.
What to do:
Check URLs and emails carefully
: Always double-check that you’re on the correct website. It’s a good idea to bookmark the official sites for your wallets and exchanges so you don’t accidentally end up on a fake one.
Turn on two-factor authentication (2FA): Add an extra layer of security by using an#url app like Google Authenticator or Authy. Avoid using SMS-based 2FA because it's more vulnerable to SIM-swapping attacks.
