🔸Protecting digital assets is an important task when dealing with cryptocurrency.
🔸The mandatory security tips used to secure digital assets from potential fraudsters include:
🔐Wallet Security
🔐Exchange and Trading Security
🔐Transaction Safety
🔐Back up and Recovery
1️⃣ WALLET SECURITY
🔸Use hardware wallets; Long-term digital assets need to be stored in a hardware wallet such as Ledger and Trezor instead of using online and software-based wallets.
🔸However, it is highly recommended to use secure software wallets such as Exodus, Trust Wallet, and MetaMask.
🔸Users are encouraged to keep private keys offline to prevent an unauthorized access and keys should not be stored in emails, cloud storage, and notes.
2️⃣ EXCHANGE AND TRADING SECURITY
🔸Never keep funds on exchange; Users should keep funds on exchange only when trading and withdraw to a secure wallet when not in use.
🔸Enable Two-Factor Authentication (2FA); A good example is using Google Authenticator or Authy when accessing wallets and exchange accounts.
3️⃣ TRANSACTION SAFETY
🔸Verify wallet addresses before sending funds by double-checking addresses because spyware and malware can alter copied addresses.
🔸Use secure emails for crypto accounts and monitor suspicious activities.
4️⃣ BACKUP AND RECOVERY
🔸Write down seed phrases and store them offline in a waterproof and fireproof location.
🔸Saving phrases online is not recommended betof potential cyber attacks.
