#CryptoSecurity101 What does security mean in cryptocurrencies?

Crypto security refers to protecting funds, wallets, accounts, and private keys from unauthorized access, phishing, scams, and accidental loss. Cryptocurrencies are decentralized, so you are responsible for their security.

🧱 1. Crypto wallet: the right choice

🔹 Types of wallets:

• Hot wallets (online): fast but more exposed (e.g., MetaMask, Trust Wallet)

• Cold wallets (offline): the safest (e.g., Ledger, Trezor)

• Paper wallets: QR code and keys written on paper – secure, but at risk of physical loss

Recommendation: for large amounts, use a hardware cold wallet.

🛡️ 2. Private keys and seed phrase

• Seed phrase = the supreme access key. Do not store it digitally.

• Write it down on paper and keep it in at least two secure places.

• Do not send it to anyone, not even the “support” from exchanges. They never ask for this.

🔍 3. Authentication and passwords

• Enable 2FA (Two-Factor Authentication) on all platforms (Google Authenticator, not SMS!)

• Use unique and complex passwords for each account

• Use a reputable password manager (e.g., Bitwarden, 1Password)

🧠 4. Beware of attacks and scams

⚠️ The most common attacks:

• Phishing: fake emails or cloned websites

• Airdrop scams: false free offers that steal your keys

• Pump & dump on Telegram or Discord groups

• Malicious smart contracts: you connect your wallet and lose your funds

✔️ How to protect yourself:

• Check the website address (https, spelling)

• Do not connect your wallet to unknown sites

• Do not sign transactions you do not understand

• Do not install dubious extensions/browsers

🏛️ 5. Centralized exchanges vs. DeFi

CEX (e.g., Binance, Coinbase)

• Easier to use

• But “Not your keys, not your crypto” – you do not own the private keys

DeFi (e.g., Uniswap, Aave)

• Total control, but requires more responsibility.