Ultimate Guide To Protecting Your Cryptocurrency

Discussion in 'Cryptocurrencies' started by MrKJoe, Nov 14, 2019.

  1. MrKJoe

    MrKJoe

    Cryptocurrencies run on the blockchain technology – making them highly secure, difficult to hack, immutable, and decentralized. But most exchanges are run by centralized servers and anything can happen. The history of cryptocurrencies depicts that exchanges have received the biggest form of attacks, with users waking up to the news of their digital assets swept away.

    Until exchanges become truly decentralized, traders and investors need to be vigilant in keeping their assets secure. Crypto investors and traders who would like to hold their assets for the long-term should only buy their crypto on exchanges and store them on either an online or hardware wallet like a Nano Ledger S or X.

    For short-term and day traders, it doesn’t hurt to have separate wallets for storing and trading crypto. However, the inconvenience of moving assets from one account to another during the day brings a whole new vulnerability and would require traders to be careful. This brings the second and probably the most important security measure for crypto investors and traders.
     
  2. maxinger

    maxinger

    Cryptocurrencies run on the blockchain technology – making them highly Insecure & easy to hack.

    Until exchanges become truly centralized, traders and investors need to be vigilant in keeping their assets secure.

    Cryptocurrency chief might even go somewhere say India and die and there goes the password.
     
  3. maxinger

    maxinger

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  4. MrMuppet

    MrMuppet

    all this is wrong on so many levels.....
     
    johnarb likes this.