The Top 10 mistakes that cryptocurrency users make. Part 2
From the mainstream, cryptocurrency has turned into a full-fledged payment instrument. It is used to store money on the blockchain and a profitable investment. 10 years ago, the presence of a digital wallet and trading on a crypto-exchange was surprising. Today it is a common occurrence.
Cryptocurrency cannot be stored at home, like dollars or euros, but it has a lot in common with fiat. For example, digital coins are easy to lose, like cash.
The popularity of cryptocurrencies is growing. Experts say that criminals have become actively interested in digital coins. With a probability of 99.9%, they will take advantage of the mistake made by the user and appropriate his money. To avoid this, you need to know how to secure coins.
CDLCONLINE24 gives several recommendations. The first part of the guide told about such mistakes that cryptocurrency users make:
- ignoring verification;
- ignoring two-factor authentication;
- lack of backups of private keys
- trading on one platform;
- storage of bitcoins and altcoins on a cryptocurrency exchange.
Let’s continue to review mistakes that cryptocurrency users make.
Public Wi-Fi networks are actively involved by hackers. Vulnerabilities in the system allow criminals to steal user personal data. This also applies to keys to cryptocurrency wallets. Is it dangerous to use public WiFi!
Otherwise, after sending bitcoins using a public Wi-Fi network, you will find trouble. All money will be lost from the cryptocurrency wallet.
Cryptocurrency transactions are irreversible. If you performed an operation on the blockchain, you cannot cancel it. When there are coins of different types, you need to store a lot of private keys.
There are already swaps (cross-platform transactions), but they have not yet received sufficient distribution. If you transfer Ethereum to the Bitcoin wallet, you may lose these digital coins.
This applies not only to cryptocurrencies. If you want to save your money, make sure that the password is strong.
The British National Cybersecurity Center recently conducted a study and named the most cracked passwords:
- 123456;
- first or last name;
- names of football teams, musical groups;
- names of fictional characters from films, comics, cartoons.
The password is especially important if you ignore two-factor authentication and. Remember that first of all, the safety of funds is up to you.
Using plugins in a web browser often helps out. However, when you install them, be careful. Remember that you must give permissions.
It is possible that a virus may be hidden in the plugin. Using malware, criminals will receive your private key. Take care of the security of digital money. To work with cryptocurrencies, you need a browser without any plugins.
Many people in the pursuit of money do stupid things. For example, participate in Ponzi. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. Most of these people lose all their money.
Selfsame some investors risk digital coins for fantastic returns. Cryptocurrency exists in digital form. However, this is real money. Bitcoin, altcoins can not be touched. You do not hear the ringing of coins.
CDLCONLINE24 team recommends not to lose common sense. This will save money and achieve financial success. And remember, it’s easier to learn from the mistakes of others than from your own!
Published at Fri, 15 Nov 2019 11:00:44 +0000
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