Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me.
The crypto industry is becoming too scary to safe funds, no where isn't safe no more,
Topic: Secure your crypto wealth by not having it all in crypto - page 2. (Read 473 times)
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me.
The crypto industry is becoming too scary to safe funds, no where isn't safe no more,
I wrote this in my notes app when I became aware of ledger library exploit. All this writing was spontaneous, and you should definitely heed it.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
Well, that's true. Even tho BTC is my main crypto, I don't keep all my savings in crypto. Only most of it, lol. It's not that much anyway, it's not millions or even dozens of hundreds of dollars.
Firstly there's no investment that's 100% safe in this world, anything concerning money will always look risky and scammers will always find a new way out, even new projects now serve as a scam scheme to show how risky crypto investment sounds that's why its advisable to stay out from new tokens if you don't want to bear risk. The idea of having multi investment choice sounds great and everyone should at least be care before investing, secondly invest what you can afford and never put a huge sum of amount when you don't have much. The issue with scam and hackers is nothing new and investors should always be careful not to fall into the hands of scammers, concerning the issue of hackers I don't really know if those people involved can be track or not but no one should experience such in their investment that's why crypto investment should be protected by all means.
Crypto scam and hacks are very much difficult to understand having experience one, it appears like a movie played in front of you with little or no knowledge on how it happend.
This hackers now are pretty good with their job so it is left for us taking precautions for our own protection and benefits.
Holding any crypto as a store of value rather than Bitcoin is Abad idea but regardless it should be stored with maximum protection and can be divided into separate wallets.
This hackers now are pretty good with their job so it is left for us taking precautions for our own protection and benefits.
Holding any crypto as a store of value rather than Bitcoin is Abad idea but regardless it should be stored with maximum protection and can be divided into separate wallets.
it comepletly against true crypto guys mood. They will never sell and take profit. However, we all need to do this at least once or it all pointless
Before I never sold and took profit but now I do. I guess you learn eventually.
...This is why we've seen people who are really that more trusting with those non custodial wallets...
Atomic a "non-custodial" wallet was hacked too.
Although it would really be still up into your choice on how you would gonna deal up with this
matter because there's still that a huge demand and recognition about hardware wallets when it comes to long term holding.
matter because there's still that a huge demand and recognition about hardware wallets when it comes to long term holding.
True, last hack was merely due to connecting ledger to dapps, it was user's mistake if you call it, if you treat hw as cold storage, I guess you will be fine for the most part.
just use paper wallet and you're set you frequently investing in many cryptos for long term i think thats not gonna be a problem, but if you need constant interaction with smart contract then i guess there's no truly way to be safe from those scammers , even i've seen so many wallet draining happening in every dapps scene and it happen quite consistently means the scams are exploiting the loophole and really good at it.
the recent problem with ledger also shown to be really critical the hacker attacking directly through the npm package of ledger speaks a lot about the security that it might look strong from the outside but if its getting attacked inside its done for even worse that problem only found out after a while.
i do agree though aside from keeping all the money in crypto, diversifying them might be better, but honestly i've never ever got my money stolen in my life maybe because i don't recklessly interact with some random smart contract.
the recent problem with ledger also shown to be really critical the hacker attacking directly through the npm package of ledger speaks a lot about the security that it might look strong from the outside but if its getting attacked inside its done for even worse that problem only found out after a while.
i do agree though aside from keeping all the money in crypto, diversifying them might be better, but honestly i've never ever got my money stolen in my life maybe because i don't recklessly interact with some random smart contract.
Op you are quite correct, the risk in crypto shouldn't be underestimated because, it is capable of increasing ones BP. If an investor losses his coin to a scammer, that would be a very painful experience and you can imagine loosing all his life savings in one sport. It is not advisable to keep all of your investment in crypto. Most especially when that is your life savings and you used all for crypto investment. There are some motivational speakers who can hype the market and convince you to buy, you can find such person on X. But honestly speaking it's not advisable to keep all your eggs in one basket.
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Most of the known rich men in the world today do not have their money on one asset alone. One rule of investment and growing wealth is "never put all your money in just one place." The reason is because unexpected things usually happen. There was a footballer in my country who died of cardiac arrest after the company in which he had all his investments went bankrupt. There are many other examples to set, but the advice always says, "Never carry all your eggs in one basket."
Some people have millions of dollars invested in Bitcoin and some other ICO; the same person may also have some other investment. In stock, bonds, real estate, gold, etc. That's actually how some people became very rich. They invested in other assets and were getting profits from them.
Crypto investment is risky in the sense that if an investor mistakenly exposes their wallet secret information, they could end up losing everything they have been accumulating for years. I agree with what you said.
Some people have millions of dollars invested in Bitcoin and some other ICO; the same person may also have some other investment. In stock, bonds, real estate, gold, etc. That's actually how some people became very rich. They invested in other assets and were getting profits from them.
Crypto investment is risky in the sense that if an investor mistakenly exposes their wallet secret information, they could end up losing everything they have been accumulating for years. I agree with what you said.
Yeah, crypto is pretty risky, and even riskier for people who do not know how to safely hodl their assets and the coins to buy, the thing is, quite a lot of people only think about the ROI they can make through crypto when they buy it, they do not care to think about how to ensure that they do not lose it. Of course it is bad to put 100% of your money into one asset/investment, if anything happens to that asset, you are going to lose everything.
Having said that, diversification should be in assets that are not intrinsically connected, if you buy Bitcoin, then buy gold and real estate, do not buy Bitcoin and then go ahead and buy only altcoins and think that you have diversified your assets.
Very well said and clearly explained, because alot of times I have seen some forks who just bought Bitcoin and other altcoins and then thinks their are diversifying, anyways it very important to space out you diversification net outside your immediate investment field just like what you mentioned in form of gold or real estate but also we have to take into considerations the relevance of those other assets in our immediate environment that can make investing in them profitable, because just like real estate, it business is not profitable in all the country only a few country have a blossom real estate market, many others have a relatively poor real estate market or may be the government provides adequate housing for they citizens this make real estate to have limitation when considering real estate as an alternative investment. Having said that, diversification should be in assets that are not intrinsically connected, if you buy Bitcoin, then buy gold and real estate, do not buy Bitcoin and then go ahead and buy only altcoins and think that you have diversified your assets.
But Gold on the other hand have a greater chances of gaining the global attention and since gold has been around for a while we can say that gold is the best option when it comes to expanding your portfolio.
A lot of hacks have happened and being able to see a known hardware wallet be exploited because of a security hack makes it more troublesome. You need to know how to keep yourself secure and understand how you can prevent those possible hacks.
I do hope that if you have that kind of money in crypto, make sure that you have secured it in a way that it cannot be compromised. Less usage of it could lead you to a great position. And having that making you millions should mean that you can probably afford a lot. Better be diversified and not all in crypto.
The kind of significant figures I've made from crypto, I'm never relenting in my actions to gather more, no stopping till I've gain quite significant amounts to aides my services push through difficult times. Cryptocurrency are mainly not for everyone, we just exists to keep attempting to ensure securing profits becomes very easy and straightforward. Hackers exists in the system just to wrecked the accounts of these top whales and the life of a common trader. I'm never going to put all my lifesaving in crypto, I've experienced numerous incidents were traders doesn't care about the possibile outcome other than there profits. I do hope that if you have that kind of money in crypto, make sure that you have secured it in a way that it cannot be compromised. Less usage of it could lead you to a great position. And having that making you millions should mean that you can probably afford a lot. Better be diversified and not all in crypto.
I wrote this in my notes app when I became aware of ledger library exploit. All this writing was spontaneous, and you should definitely heed it.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
It would be always that your own responsibility when it comes to the overall safety of your assets and this is why you should really be that sensible or really that mindful even on the slightest security measures on which you would really be needing to be done to protect your assets on which it is really that true that even buying up some hardware wallets doesnt really assure out that overall safety. Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
We've seen those exploits and security issues about those hardware wallets on which it would really be leading out with that kind of hesitance in speaking about overall secueirty.
This is why we've seen people who are really that more trusting with those non custodial wallets and saving up their own phrases on a piece of paper on which it is really just
that something gives out that confidence rather than on storing into those hardwallets. Although it would really be still up into your choice on how you would gonna deal up with this
matter because there's still that a huge demand and recognition about hardware wallets when it comes to long term holding.
I wrote this in my notes app when I became aware of ledger library exploit. All this writing was spontaneous, and you should definitely heed it.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Thank you.
Most of the people came to crypto market to make profits like they make investment in stock and forex market. So if an investor made profit from their investment then the profit should be reinvested in other business ideas. This is not only true for crypto but other investment sector like forex or stock because market can anytime.
it comepletly against true crypto guys mood. They will never sell and take profit. However, we all need to do this at least once or it all pointless
Op is not simply a warning about asset protection, although I acknowledge that the opportunities to make money in this market are many but I also like that there is no need to get complicated about asset diversification assets with gold, fiat, real estate, stocks,... it can be felt that crypto is still a very modest investment environment in scale. There are many risk issues about users easily having their assets stolen, but not everyone in any field will encounter that situation, so anyway, it's a matter of trying to improve your skills and balance your assets consistent with what people find reasonable in life.
With cyberspace, this environment is even more complicated when most users lack the skills to protect themselves against attacks. They use it as they feel it is okay and do not anticipate the risks. And to access the crypto market, many people do not need to learn basic knowledge, simply how to buy, sell and store, so the risk is created by us.
With cyberspace, this environment is even more complicated when most users lack the skills to protect themselves against attacks. They use it as they feel it is okay and do not anticipate the risks. And to access the crypto market, many people do not need to learn basic knowledge, simply how to buy, sell and store, so the risk is created by us.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Yes, you are right, that's what I'm sure is also experienced by many altcoin holders who are very happy to see their portfolio turn green, even by hundreds or thousands of percent and continue to keep it because they are not satisfied with the profit they will get if they sell it at that time, but the story changes when in a short time the coin have no value at all, often what makes them not sell it is because they think the price will continue to rise but because we don't know what the developer is planning behind these coins and so on, we don't have a true picture of the coins. Changing it into a form of investment in gold, property or investment in a form we can hold will be much better.You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Correct, even if dev isn't planning anything shady, market can take a downturn and that particular alt may not rise even with a significant update/news.
It's always wise to take profit. Myself have given up plenty profits accured in alts by holding them for long time, with the hope that they will continue to rise further and further but market takes a hit and most of them turn to ashes or go to depths to never recover from.
Crypto is wild west. Scams/hacks, all the new ways to get compromised never ceases to amaze me. Yet, it remains one of fastest way to build one's portfolio, once you have made enough, secure it, diversify in real estate, gold, etc.
You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
Yes, you are right, that's what I'm sure is also experienced by many altcoin holders who are very happy to see their portfolio turn green, even by hundreds or thousands of percent and continue to keep it because they are not satisfied with the profit they will get if they sell it at that time, but the story changes when in a short time the coin have no value at all, often what makes them not sell it is because they think the price will continue to rise but because we don't know what the developer is planning behind these coins and so on, we don't have a true picture of the coins. Changing it into a form of investment in gold, property or investment in a form we can hold will be much better. You could having million dollars worth crypto in your wallet and next moment, puff it's gone.
If the fund is not in crypto, than it's not a crypto wealth actually. I do agree that we should diversify our investment, and I mean not only split between altcoins or bitcoin, but split into many other instruments like stock, bond, etc. And to be honest I have never meet anyone as in an Individual who own 1 Millions of crypto assets. Maybe some investments company owns 1 Million USD worth of crypto but that's belong to their mulitiple clients not one individual.
Yes, crypto makes someone become rich but the idea of keeping all our money in it is somewhat carries a huge risk of losing them all in an instant. Indeed, it was not a safe investment, and many stories we have heard that many had lost their money due to scams and hacking. We should anticipate such a thing before experiencing it because there is no way of turning back the time and getting our money. That is why I only invest 50% in crypto and 50% in local investment. I couldn't say that I was not a risk-taker but I'd just think about the security of my investment as this is what matters most if you are in this field, not just about earning money (huge).
If you know you are not sharing your apartment with anybody in your society, and you know you don't dispose your personal details on social media or friends, I don't think you have anything to worry about your coins in your wallet. If you want to invest in other business by selling your altcoins, I believe it will be bringing more income to you to invest in crypto to have more good business in the future. I think, this advice you gave is no longer a new advice to users in the community, because many users have succeeded in established different investments all over their environment because they don't want to depend on crypto investment alone.
A lot of hacks have happened and being able to see a known hardware wallet be exploited because of a security hack makes it more troublesome. You need to know how to keep yourself secure and understand how you can prevent those possible hacks.
I do hope that if you have that kind of money in crypto, make sure that you have secured it in a way that it cannot be compromised. Less usage of it could lead you to a great position. And having that making you millions should mean that you can probably afford a lot. Better be diversified and not all in crypto.
I do hope that if you have that kind of money in crypto, make sure that you have secured it in a way that it cannot be compromised. Less usage of it could lead you to a great position. And having that making you millions should mean that you can probably afford a lot. Better be diversified and not all in crypto.
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