If you have any money invested in Crypto and are waiting for the bull cycle to start, you should use this time to educate yourself and up your Crypto Security,
Don’t be that guy that waits until their Crypto is worth 100X + and gets scammed,
- Airdrops - Never interact with random tokens that turn up in your wallet or click on random links and connect your wallet, learn how to find verifiable sources before interacting with any token/site
- Self custody - Always take off your coins from central exchanges after transacting. Every so often a new catastrophe comes along and causes panic in some part of the ecosystem. The recent, rapid crash of Luna was a result of failing to address the hidden risks of investing in the purportedly reputable project. A more obvious time bomb that none of us can afford to ignore, is that the custodians we buy from aren’t holding our bitcoin, they’re just promising us some of theirs.
- Revoking permissions - Learn about revoking approvals you’ve allowed to your assets
- Connected Sites - Learn how to disconnect your wallet from websites
- Seed phrase management - Learn how to store your seed phrase in safe locations on Fire and Water resistant materials
- Hardware wallets - Learn about hardware wallets and passphrases for additional security (never store or enter your seed words on a digital device or keyboard). Use a front-end wallet (like Metamask) to attach your hardware wallet account. Never share your passphrase or private key.
- Use a secure browser - keep your crypto activities separat from your daily tasks. Use a secure browser for your crypto transactions. We recommend Opera, Brave or Onion Browsers. Avoid installing browser add-ons on them. The websites you are using for your crypto transactions should be bookmarked. Do not use google search or search engines if possible. Keep your email separate from the browser you use for crypto
- Password managers - password managers are good choice. if your operating system does not provide one, use a separate app. the ultimate password security you will get using passkeys not passwords (like apple is providing on their OSX).
- Contingency plan - Learn about contingency plans for your assets should something ever happen to you (never trust a lawyer or even family with your seed phrases but have contingency plans in place)
- Multiple wallets - Learn about risks involved when you allow protocols access to your assets and consider using multiple wallet addresses to store your assets I.e one for ‘main storage’ that you only send and receive from, never connecting it to a website or DeFi protocol. Use a burner wallet to interact with new sites or to mint NFTs or protocols which you want to test.
- Wallet approvals - Learn how to read approvals you sign in your wallet before signing them. Learn what it means, what you read on the screen.
- Staking - If staking assets like $HEX for a period of time consider staking them on a separate wallet to reduce the risk if a wallet of yours should ever be compromised in the future
- Taking your time - ALWAYS double check before sending or swapping assets I.e check it’s the correct contract address of a token or check that the wallet address you have entered is correct
- Final thoughts - if you are crypto fan and have significant funds in crypto, don’t tell anybody, don’t brag about it. Don’t share with anybody. If you are interacting with social media about crypto, don’t dox yourself, don’t even share your wallet addresses publicly.
Even experienced Crypto users have fallen victim to scams and exploits, protect your assets and help educate your community as much as possible before there is more at stake to be lost. There is no undo button or support team in blockchain.
Stay Safe ♥️ we wish you all health and the maddest of gains this cycle.