(As more individuals enter into using the blockchain, and earning digital assets like; Cryptocurrency, NFT’s, Web 3.0 domains, and other digital collections, you are hearing about SCAMMERS taken advantage of people. Most commonly being some sort of manipulations to gain access to your digital wallet, or have you providing information. Allowing them to transfer digital assets from your address into their digital wallets)
Don't Be "E-Mugged" Online. Scammers Are Preying On Individuals To Steal Your Cryptocurrency & Digital Assets.
(Scammers tend to pose as a customer service rep, or clone site to look same as actual site. This physically better than actually being mugged on streets, it's what I consider "E-Mugged")
Now, to get down too, how do you protect your crypto assets and digital wallets? Currently, the number one thing you need to understand is; Don't Share Your Seed Phrase, or Secret Key! This is your strongest defense to protecting your wallet. If you must give that information; Double Check Their An Actual Rep For Company By Making Contact With Said Company For Verification!
Just in case your wondering what are your seed phrase and secret keys? They are the information you were asked to back up when creating your digital wallet. Which, brings me to a common mistake people tend to make relating to backing up that information.
Most individuals only create Hot Wallets (Online or installed app that is used with active trading.). When you first register an account and asked to back up seed phrase/secret key, how do you or did you back tht information up? If you answered, Copied and saved on device created account with, then you have just created a vulnerability that can be exposed.
Scammers E-Mugg You, While, Hackers Will Break In, Robbing You & Spreading Malicious Software. Once The B&E Been Executed, They May Retrieve Your Seed Phrase/Secret Key To Your Hot Wallet!
When you register a new account with your digital wallets, its best to do one of the following:
- Physically write down on notebook piece of paper, or ledger similar to those checkbooks your parents use to track their account balances. ;-)
- Copy in file, transfer to flash drive, and ensure to eject from device to store somewhere safe (ie; Fire proof safe).
So, if you can remember these few simple tips above, your Hot Wallets will be secured better than most individuals right now being scammed. ;-)
What do you say we move on to Cold Wallets?
Cold or hard wallets are digital wallets that stores your crypto assets offline. These wallets can be connected to the blockchain by USB or BlueTooth. To protect your crypto assets where you don't lose everything if, there was something to happen with your hot wallets, cold storage in a hard wallet is your best option.
Now, remember that you will need to keep a portion or percentage of assets online to trade with. When your taking profits or assets sitting there, its better to move those assets into your cold wallet. 70/30 is a nice spread to store/trade.
So, there you have it. A few quick and simple ways for you to protect earnings and crypto assets. You are now able to calm them nerves and keep an eye out to spot them scammers.
If you found this article to be of some value and helpful, please show appreciation and reward yourself too. If confused or wondering where to get your hard wallet for cold storage, below is to of the best choices currently available on Amazon.
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Ledger Nano S - Perfect Mini Cold Wallet
SecuX W20 - Most Secure Crypto Hard Wallet w/BlueTooth & Large Screen
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