Three general security principles you should be following: 🔸 Maintain your privacy 🔸 Protect yourself 🔸 Be your own bank
Cryptocurrencies have brought lots of exciting possibilities, but they are also full of risks and dangers for the inexperienced. Follow the three main security principles outlined below to mitigate some risks associated with using, holding, and trading cryptocurrencies.Thanks to the nature of the internet, information can propagate very quickly, and sometimes, in undesirable directions.
Be vigilant. Learn about common phishing tactics, find out what keyloggers are, and get to know common threats described in Binance Academy. Getting familiar with these dangers will help you keep your coins secure. ‘Measure twice, cut once’ says the proverb many of us heard from our parents. When it comes to using and protecting cryptocurrencies, it becomes increasingly relevant.To ensure the availability of your coins and maximize your security, it is recommended to hold your private keys offline. Although exchanges are generally much safer than ever before, it is still recommended to keep substantial amounts on the exchange accounts only if you are an active trader.
The types of cryptocurrency wallets designed to hold your private keys vary in their security, ease of use, number of use cases, and even availability. Consider your options and choose a type that fits your needs.
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