The high rate of increase in Cryptocurrency scams makes it necessary for you to find ways to protect your Crypto. Thankfully, the Coin Dispute Network has been established to ensure that you can rest assured while performing your crypto transactions by helping you to fight against these crypto scammers.
Although the Coin Dispute Network has been created to combat crypto scams, you also have a role to play. The Coin Dispute Network has outlined eight steps to keep your Crypto safe.
How You Can Protect Your Crypto
Avoid Public Internet
One significant step to keeping your crypto safe is to avoid public Wi-Fi networks when performing crypto transactions. They leave you susceptible to hacking, spying, etc. Thus, it would be best to connect to a private network to complete crypto transactions.
Use Strong Password
Another step that you should take to keep your crypto safe is to ensure that your password is strong. Don’t use passwords that can easily be guessed or related to you. Avoid using your name, nickname, spouse’s or children’s, or your pet’s name.
If you need help remembering long passwords, use a Password Manager instead of writing them down. Your Password Manager will create strong passwords for your account and wallet, and you only have to remember the password for the Manager.
Use Two-Factor or Multi-Factor Authentication
Two-factor or multi-factor authentication requires more than one verification process to ensure your identity when you log in to your crypto account or wallet. This makes it harder for your account to be accessed by scammers even if your password has been compromised.
Make Use Of Cold Wallets
Cold wallets are offline wallets that store your cryptocurrency. Instead of keeping all your funds in your online wallet, transferring some of them to the cold wallet is best. This will prevent you from losing all your funds if your online wallet gets hacked.
Cross-check URLs Before You Use The Website
Always make sure you cross-check a website’s URL to check its authenticity. This is due to scams that include impersonating other websites. The lack of a letter “s” in the “HTTPS” portion of the website’s URL indicates that the website in question is not secure.
The spelling will be incorrect if it is a site pretending to be another. If you are unsure of the legitimacy of a website or software, it is best not to enter any personal information into it.
Avoid Investment Scams
Investment scans require you to invest your Crypto in a business opportunity that will bring you great returns. Avoid such schemes as they are always fake. The sign is always great returns for little risk.
How To Track Down Crypto Scammers
Only Purchase Crypto From Reputable And Safe Exchanges
No matter how good the other deal might seem, it would help if you bought your Crypto from a well-known exchange. This will save you the trouble of losing funds to a fake exchange source. You can also check reviews from other users before using any website or downloading the application.
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