In 2023, investors lost an estimated $2 billion to scams, rug pulls, and hacks.
While technology improves, Smart Betting Guide offers insights on safeguarding your crypto in 2024.
1. Avoid Cloud Storage for Passwords and Seed Phrases
– Store passwords and seed phrases offline to prevent hacking.
– Don’t save on cloud platforms; instead, write down or engrave on a secure medium.
2. Opt for Hardware Wallets Over Exchanges
– Hardware wallets offer offline storage, preventing online attacks and exchange collapses.
– Consider potential physical loss or damage as a drawback.
3. DYOR – Do Your Own Research
– Investigate projects before investing to avoid rug pulls.
– Check developer credibility, whitepaper quality, liquidity lock, and external audit.
4. Verify Apps and Exchanges
– Avoid searching for crypto apps directly from app stores.
– Verify app developers, check reviews, and beware of spelling mistakes.
5. Implement Extra Security Measures
– Never click on suspicious email links.
– Set up Two Factor Authentication (2FA) for added security.
– Exercise caution with popups, links, and messages promising quick money.
Smart Betting Guide emphasizes shared responsibility in fortifying the foundations of cryptocurrency against threats, ensuring a secure and trustworthy financial future.