I just saw a post about someone losing coins by clicking on a phishing link, and my heart sank. After years in the crypto world, I've witnessed too many 'instant wipeouts'—some lost coins because their recovery phrases were stolen, some accidentally clicked on fake links and emptied their wallets, and others tried to save money by buying tampered hardware wallets... most coin losses aren't due to how skilled hackers are, but because we ourselves stepped into those 'glaring traps.'
Today I'm sharing hard-earned security insights; these are lessons bought with real money. Newbies must read this, and veterans should revisit the basics.
Choosing the wrong wallet is like handing the keys to hackers.
Hot wallets are like the change you carry in your pocket—convenient, but don't keep too much in them. Common hot wallets like MetaMask and Trust Wallet are suitable for storing a little pocket money for everyday transfers or interacting with DApps. But never stuff your life savings in them; after all, they're connected to the internet, like a home door left unlocked; someone is always watching.
There’s a hard rule when using hot wallets: never let large wallets interact with unfamiliar websites. For new airdrop projects or flashy DeFi plays, it’s okay to test them out, but create a small wallet specifically for 'experimentation.' Especially when signing smart contracts, even with commonly used DApps, take a closer look—some phishing links clone pages, and after signing the contract, the coins in your wallet might belong to someone else.
The real 'safe' is a cold wallet. Hardware wallets like Ledger and Trezor feel hefty in your hand, and the sense of security doubles. They are not connected to the internet, and private keys are always offline; even if your computer gets a virus, hackers can't access your assets. Always buy cold wallets from official sites; don't be tempted to buy cheaper from third-party platforms—some have bought 'second-hand goods' with implanted malicious software, turning their funds into someone else's 'ATM.'
Recovery Phrase: 100 times more valuable than a bank card password.
The saddest coin losses I've seen: some people screenshot their recovery phrases and store them on their phones, and then their cloud albums get hacked; others store them in note-taking apps, and their phones get infected, leaking everything. Remember, recovery phrases = your money; don't store them on any electronic devices.
The clumsy method is the best method: get a hard-cover notebook and neatly write it down with a fountain pen; don't use a pencil (it can smudge), and don't write too carelessly (forgetting will be more troublesome). Then find a safe to lock it up, or like old players, engrave it on a stainless steel plate—it's fireproof and waterproof, and also thief-proof.
Never say, 'I have a good memory, I don't need to write it down.' I've seen people forget to back up when changing phones, leading to their wallets being rendered useless, with tens of thousands of dollars in coins lost forever. If you lose your recovery phrase, even a deity can't save you.
A second glance at the link can ensure wallet safety for a decade.
Phishing websites are becoming increasingly 'competitive,' looking almost identical to official sites. For example, the real official site is 'token.im', while the fake might be 'token1m' or 'tokem.im'; just one letter off can lead you to irreparable loss.
Develop a habit: save frequently used websites in your favorites. Exchanges, wallet official sites, commonly used DApps, confirm they are genuine the first time and then save them; access them from favorites in the future, don't click on links in messages or community posts casually.
Be wary of those 'get-rich-quick' schemes. This year, there was a particularly vicious scam: they cloned an entire Discord community, with identical admin avatars and chat history, even live-streaming 'airdrop benefits' to get people to click links for tokens. Once someone interacted, their wallet was instantly drained—remember, legitimate projects won't rush you to 'click quickly, or it'll be too late'; the more urgent the push, the bigger the trap.
Exchange Security: Don't let your account become a 'transparent person'
Using exchanges is essential in trading, so pay attention to the security details here.
Two-factor authentication (2FA) must be enabled, and it's best to use apps like Google Authenticator; don't rely solely on SMS (texts can be intercepted). Every time you log in on a new device or make a transfer, a second verification is needed, effectively putting a lock on your account.
Here’s another tip: when registering for exchanges and wallets, use a dedicated email. Don’t use the email you usually get spam in, and definitely don’t use the one associated with social platforms—once that email gets hacked, the hacker can easily trace your crypto assets.
Finally, a heartfelt statement.
In the crypto world, losing coins isn't embarrassing; who hasn't fallen into a pit? But continuously stepping into others' traps is your own problem. Spend 30 minutes checking: Is the cold wallet purchased from the official site? Is the recovery phrase handwritten as a backup? Are the commonly used websites genuine in your favorites?
A moment's lapse in security could lead to irreversible disaster. After all, we trade cryptocurrencies to make money, not to pay hackers' salaries, right?
What thrilling experiences have you had losing coins? Or do you have exclusive security tips? Share them in the comments to help others avoid traps—the sense of security in the crypto world relies on us to build.
Disclaimer: The content of this article is for reference only and does not constitute any investment advice. Investors should rationally consider cryptocurrency investments based on their own risk tolerance and investment goals, and avoid blindly following trends.