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#criptosecurity101 HOT VS COLD WALLETS, PERSONAL SAFETY & SAFU PRACTICES
In the world of crypto, security is everything. With the rise in digital assets comes the rise in threats. Whether you’re a new trader or a seasoned investor, understanding how to protect your funds is critical.
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🔥 HOT WALLETS
Hot wallets are connected to the internet, making them fast and convenient for daily trading. These include:
Mobile apps (e.g., Trust Wallet)
Browser extensions (e.g., MetaMask)
Exchange wallets (e.g., Binance wallet)
Pros::::
Easy access
Great for frequent traders
Cons::::
Vulnerable to hacking, phishing, and malware
Must be secured with 2FA and strong passwords
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❄️ COLD WALLETS
Cold wallets are offline wallets, offering the highest level of security. Examples include:
Hardware wallets (e.g., Ledger, Trezor)
Paper wallets (printed private keys)
Pros::::
Safe from online attacks
Ideal for long-term holders (HODLers)
Cons::::
Less convenient for quick trades
Risk of physical damage or loss
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🛡️ PERSONAL SECURITY TIPS
1. Enable 2FA (Two-Factor Authentication)
2. Avoid clicking unknown links or email attachments
3. Use strong, unique passwords
4. Regularly update apps and wallets
5. Do not share private keys or seed phrases
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🏦 WHAT IS SAFU?
Binance created SAFU (Secure Asset Fund for Users) as an emergency insurance fund to protect users in extreme cases like hacks. A portion of trading fees goes into this fund to enhance user protection.
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✅ FINAL THOUGHT
Always remember: “Not your keys, not your crypto.” Security begins with awareness and action. Know your wallets, protect your keys, and trade smart.