Crypto Security
Crypto investing faces significant security challenges, including a steep learning curve, lack of traditional advisor support, and market volatility. In 2022 alone, $3.8 billion was stolen in crypto hacks, with decentralized finance (DeFi) platforms being primary targets. To protect oneself, it is recommended that you remain cautious of too-good-to-be-true opportunities, conduct thorough research, and avoid publicizing profitable trades. You should also use strong, unique passwords and enable two-factor authentication for all accounts; avoid clicking on suspicious links and never share or reuse passwords. When trading on exchanges, it’s in your best interest to choose reputable ones like Coinbase, Kraken, Bitstamp, or Gemini. Finally, it’s ideal that you don’t keep all your crypto holdings on exchanges and consider moving funds to hardware wallets or cold storage. By following these precautions, investors can better safeguard their assets in the crypto landscape.
Ehrlich, Steven. 2023. “Crypto Security: A Beginner’s Guide.” Forbes, May 8. READ: https://bit.ly/3wOeMDp
