Guide: The market is going up, this means a wave of new users could lose their crypto. So I have made list of how to best protect your funds and other things to keep in mind.

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As new people enter the space the numbers of scammers and phishing websites increases, we can help the newcomers by educating them on how to better secure their crypto currency. Here are some points I thought were the most important:

1. Get a hardware wallet.

A hardware wallet is a special type of device that stores the user's private keys in a secure hardware device, signing each transaction from within the device itself, which means the private keys will never be exposed to external devices, so, even if your external devices were to get infected with crypto stealing viruses or keyloggers, the private key and funds would be secure inside the hardware wallet.

Two of the biggest companies that make hardware wallets today are Ledger and Trezor. Both are great.

2. Browser safety.

Always use bookmarks and never click links, it is also a good idea to install browser extensions like EtherAddressLookup that help protect you from known phishing sites.

3. Never enter your private key or word seed in any electronic device

The most common way for people to lose their cryptocurrency is by either having an infected machine/device where the attacker can locate and identify your private key/word seed and use it to steal your funds from you, this can easily happen if your computer or mobile device where to be infected. The same is to be said for websites that ask you to enter your private key, the most important thing that you need to remember is that the private key gives anyone entire access to all of your funds, do not risk storing it where anyone else could see but you.

4. Use 2FA wherever possible.

This not only applies to crypto, you should always activate 2FA where it is important that noone else has access to your account, if you have the option to use 2FA, use it, this will make it A LOT harder for hackers/phishers to get through and into your account even if they somehow got ahold of your login credentials, this mostly applies to funds you keep online, such as on exchanges, as a general rule, try to not keep funds on exchanges if possible.

5. Be mindful of where you store your keys/wordseed.

Similar as point 3, if you write your seed or private key in a piece of paper, make sure that noone but you will be able to find it. The general advice is to break the word seed/private key down in as many pieces as possible and store every different piece in a separate secure location, that way if someone gets hold of one of the pieces, that someone would still need the other pieces to steal your funds.

6. Always verify.

On a website? Check the url carefully. Phishers often use fake websites that look just as the real one, and domain names that look very close to the real one.

Doing a transaction? Triple check that the address you want to send to, and the address that you send to are the same address.

7. Never send the full amount at once to a new address if you are sending high amounts and you are not 100% sure.

If you are afraid that you may be doing things wrong, don't send high amounts of crypto at once, make sure you have got everything right by first sending a small amount, like $10, once you confirm that everything is ok, proceed and send the rest in a second transaction.

8. Use your brain.

Always stop and think.

Don't assume, ask.

Don't blindly follow, question.

Patience is truly a virtue.

If something seems too good to be true, it's likely not true.

submitted by /u/frostykuiper
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