The most important thing is to
- own your private keys (which you must back up)
- use 2 factor authentication but not the SMS one, Google Authenticator is safer
- use a hardware wallet (like Ledger, Trezor) or a hot wallet with multi-signature set up (like BTC.com wallet has 2-of-3 key)
Topic: Stay safe - page 9. (Read 2561 times)
Digital currency has hacking problems. Bitcoin anonymity is for investors and also for hackers / thieves.
I always keep most of my coins in cold storage wallets like Ledger S Nano and just take out whenever I need it. Keeping a lot of money in exchanges is a big risk. As if dabbling in cryptocurrency is not risky enough. But you have to do what you have to do.
[I agree, to keep a lot of money on the exchanges is a very big risk!]
[I agree, to keep a lot of money on the exchanges is a very big risk!]
Actually, one advantage of physical gold, (and other valuables such as diamonds), is that they can be easily ferried around if one has to flee in an emergency. All throughout history, and even in the twentieth century, there were innumerable instances when this was required for survival. Of course, with Cryptocurrency, this process should become even more simple. Only, we haven't had that kind of distress affecting the holders of Cryptocurrency yet, (fingers crossed), in this century; so there's no way to be sure.
50 kilos Gold is some $2.5 million. How do you carry and move with 50 kgs ??
Obviously, one person can't! But when I wrote this, I remembered a panel discussion on CNBC I'd heard some time back, in which one of the panelists mentioned that when his grandmother was a five year old girl, their family needed to urgently escape a war zone, leaving all their possessions behind. They had gold bars fashioned into chain links, which they wrapped around their bodies and underneath their clothes. In their new place of refuge, they sold that gold for seed capital to start a new business.
Today, one can simply convert into Cryptocurrency and retrieve anyplace in the world. But, seriously, how many of those Syrian refugees used Bitcoin?! Most were just clothes on their backs, and maybe a few valuables that may well have been robbed from them on their escape journey.
I always keep most of my coins in cold storage wallets like Ledger S Nano and just take out whenever I need it. Keeping a lot of money in exchanges is a big risk. As if dabbling in cryptocurrency is not risky enough. But you have to do what you have to do.
I have just read a good article on security and I feel like it's worth sharing as the hacks keep happening over and over again. Read the basic principles and stay safe guys!
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
This is a very difficult issue for large trading floors. They always look for ways to protect investors' accounts, but hackers are smarter than they are. Many of these attacks have cost me money to buy cold wallets. Ledger Nano S is a great product and it has a very high level of security. I encourage everyone to use it. https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
If you have gold and silver in international vaults that is very safe. Digital currencies have this problem of hacking. Diversify your investment. Bitcoin anonymity is for investors and also for hackers/thieves.
Carrying and moving with 10 kilos is not easy.
Carrying and moving with 10 kilos is not easy.
yeah, and one day they can simply decide that you are a scumbag and block your account and not give your money back ever and you should run after them for years with a lot of lawyers and spend a lot of money to get it back or fail trying.
or they may not even be holding enough gold for all their users and may run a scam service that fails one day and they can run away easily and you can say bye bye to your money
all we can do is set up an two factor authenticator and other security purpose things dont bother for a little hard to log in that is for your own safety.
I have even heard of few people getting hacked with 2FA activated because they hadn't securely stored their 2FA backup key. Use of dropbox or google drive to store such information and other login info/private key is unsecure. 2FA doesn't make login hard, you will get a state of relax mind with it but making proper backup and storing it offline is as important as activating 2FA.
all we can do is set up an two factor authenticator and other security purpose things dont bother for a little hard to log in that is for your own safety.
Two factor authenticator security is the latest security system to avoid hack the system of inline exchange plaform, in my opinion need to continue searching to upgrade the security of the exchange because later on the 2fa trace of the hackers how to open.
I agree, 2fA securiry is almost impossible for the hackers to access such account. Specially if the code is being generated randomly by the wallet provider or the exchange and sent to your email. Now, the target of the hacker isnt only your wallet private keys but your email as well. As you noticed, there are people who complained about unknown log-in attempts from different places, well that would be enough to know hackers have a tough time hacking an account with 2FA.
all we can do is set up an two factor authenticator and other security purpose things dont bother for a little hard to log in that is for your own safety.
Two factor authenticator security is the latest security system to avoid hack the system of inline exchange plaform, in my opinion need to continue searching to upgrade the security of the exchange because later on the 2fa trace of the hackers how to open.
Just early today Bancor a Decentralized Exchange got hacked 24,984 ETH (approx $12 million), $1 million worth of NPXS and $10 million worth of BNT.
This month we got so many consecutive hacking on exchange. We really need a good security on exchange.
This is the reason why I dont stuck my coins in exchange if I won't trade them.
This month we got so many consecutive hacking on exchange. We really need a good security on exchange.
This is the reason why I dont stuck my coins in exchange if I won't trade them.
A lot of measures can be implemented for one to stay safe but I recommend keeping a backup of your wallet and making sure never to disclose your account details to anybody regardless of how you are pursued.
I have just read a good article on security and I feel like it's worth sharing as the hacks keep happening over and over again. Read the basic principles and stay safe guys!
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
Thank you for sharing this helpful tips to secure wallet and accounts. 2FA Authenticator is one of the best security to use in your account so that someone can't open your account easily. Hackers has a lot of tactics just to stool your wallet and identity but we can avoid it if we can do right on how to stay safe of our wallet and accounts.
I have just read a good article on security and I feel like it's worth sharing as the hacks keep happening over and over again. Read the basic principles and stay safe guys!
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
Yes Using an 2fa code is a most in cryptotrading , i have lost 2K USD with bittrex the past year because i was hacked by somene that has find my password and if i was using the 2FA i will have not lose this money
thanks for sharing. a cold wallet will always be the safest option. good stored private keys on paper and ledger nano and you are good to go.
Actually, one advantage of physical gold, (and other valuables such as diamonds), is that they can be easily ferried around if one has to flee in an emergency. All throughout history, and even in the twentieth century, there were innumerable instances when this was required for survival. Of course, with Cryptocurrency, this process should become even more simple. Only, we haven't had that kind of distress affecting the holders of Cryptocurrency yet, (fingers crossed), in this century; so there's no way to be sure.
50 kilos Gold is some $2.5 million. How do you carry and move with 50 kgs ??
all we can do is set up an two factor authenticator and other security purpose things dont bother for a little hard to log in that is for your own safety.
I have even heard of few people getting hacked with 2FA activated because they hadn't securely stored their 2FA backup key. Use of dropbox or google drive to store such information and other login info/private key is unsecure. 2FA doesn't make login hard, you will get a state of relax mind with it but making proper backup and storing it offline is as important as activating 2FA.
Carrying and moving with 10 kilos is not easy.
Actually, one advantage of physical gold, (and other valuables such as diamonds), is that they can be easily ferried around if one has to flee in an emergency. All throughout history, and even in the twentieth century, there were innumerable instances when this was required for survival. Of course, with Cryptocurrency, this process should become even more simple. Only, we haven't had that kind of distress affecting the holders of Cryptocurrency yet, (fingers crossed), in this century; so there's no way to be sure.
If you have gold and silver in international vaults that is very safe. Digital currencies have this problem of hacking. Diversify your investment. Bitcoin anonymity is for investors and also for hackers/thieves.
Carrying and moving with 10 kilos is not easy.
Carrying and moving with 10 kilos is not easy.
all we can do is set up an two factor authenticator and other security purpose things dont bother for a little hard to log in that is for your own safety.
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