Topic: Stay Safe in Trading Crypto (Read 104 times)

This is the first step in trading and should be on the top.
You should thoroughly research and evaluate any exchange before trusting them with your funds --it is also recommended to start with small trades and gradually increase your investment as you gain experience and confidence in your trading strategy.
The rest of you have said was right, stay safe in trading, and always remember not your keys, not your coin.

Only trust yourself indeed but be sure you are eqipped in the first place with knowledge of what you are doing. If not, it is okay to follow others and just manage the risk as well as amount you would engage with. It is a part of learning;experience and looking at the works of those who are more knowledgeable than you are. Eventually, once you've learned that much for sure you can go on your own. That is only when trusting oneself, would be advisable. But even at this point, even if I am here in this industry for years, I still tend to consider other's opinion especially majority and compare it with mine. In such way, it allows me to conclude with a more efficient action in terms of investment and trading.

Yeah and it's even recommended by exchanges themselves, however if I'm not mistaken, there are hacking groups right now the created a much sophisticated account that they can executed and steal our crypto even with 2FA activated. They can intercept it without the real owners knowing.

Of course it is still better than no 2FA at all.

And all that we have learn from the past, whether it was us or someone, should be taken into account by many traders.

2FA is no longer just an option these days but it's a must. It's like having another lock to your safe vault and those that don't use it are the ones more prone to hacking.

When someone breaches your trading account or online wallets but you have activated the 2FA feature, aside from they'll not be able to access your funds, they'll have hard time accessing it.

And instead of continuing and pursuing for it, they might just give up and that's why this second layer of protection is a must.[/list]

Yeah, there's a lot of things to do to be safe in crypto. In the beginning, we really don't know what to do, some of us becomes a victim, we feel from bitcoin doubler, anything that this cyber criminals will do to get our money.

And I will say as well that if we fell victim early, I think it's going to be good for us in the end.

Experience is the best teacher, just saying.

Here are some tips for keeping safe when trading crypto:
1.Use a trusted exchange
2.Use 2FA
3. Use a strong password
4.Never share personal information
5. Protect your device
6. Stay alert to scams
7. Manage risk wisely
the tips above are based on personal experience when trading crypto trading is a high risk, I suggest you do your own research, don't believe too much what people say on the internet, just trust yourself.

General Rule
•Only trust yourself

This is the thing i could say for those who do tend to dive in with this crypto space.Yes, there are lots offerings out there or services which does give out those
kind of usage or comfort and accessibility but some of them are just total scams and frauds. Dont make yourself believe about easy money because
if this one would put up into your mind then this is where you would be making yourself that desperate which is something that bad for someone who
do engage on crypto market.

1-3 are basically the same.  If something sounds too rediculous or too good to be true it typically is.  If anything promises a crazy return it's 100% a pyramid scheme.  Funny thing is most people who put theor money in know it is but are too greedy to just sit on the sidelines.  This makes these projects viable and we will forever be in the circle of pyramid schemes. 

Many newbies are becoming a victim of pump-and-dump schemes. That's giving them the impression that the crypto market is just a quick phase market where it's all about being quick and rushing with the profits. They don't understand that they're having it the wrong way and that's going to burn their money so fast. It's good to ride the hype and trend but it wouldn't last long and that's why when it's still there, make sure that you'll be able to ride it and then take your profits as much as you can. Our emotions will tell us that we should stay longer and we'll get more profit but based on the experiences of many, it's better not to neglect your profit taking because you'll never know if it's still gonna be a good time to sell when the dump comes.

While the world of cryptocurrency has been booming in recent years with a high number of crypto investors and traders, it's important to remember that there are risks associated with any investment - and cryptocurrency is no exception. That's why it's important to prioritize safe trading when investing in crypto.

Common scams to be aware of

Scams, hacks, and fraud are typical occurrences in the bitcoin realm, and here are some examples of what scams we could meet when trading crypto:

1. Investment Scams
2. Pump & Dump schemes
3. Free giveaways and social media impostors
4. Phishing & Email scams
5. Fake mobile apps, fake exchanges, fake communities, threats from insecure public WIFI, unsolicited phone calls and messages from people claiming to be from an exchange, etc.

How to stay safe trading crypto

Even though there are scams and security issues to be aware of, the world of cryptocurrency is unquestionably safer and simpler to grasp than ever before. Staying secure while trading cryptocurrency is simple if you:

• Double-check the wallet address before sending
• Do your own research (DYOR)
• Don't make decisions based on a fear of missing out (FOMO)
• Take your time. Never rush into anything in crypto
• Choose a trusted & secure exchange to trade with

Find your trusted Crypto Exchange

Depending on what type of trading you want to do, it is usually a good idea to consider a few various possibilities before making a decision. Nobody wants their money stolen, therefore you should make sure the exchange you choose has:

• 2-factor authentication (2FA) - an excellent first step in preventing password hacking
• A website address that begins with https (NOT http)
• Sophisticated multi-layered protection that is routinely updated to deal with the newest threats and attacks
• Frequent security audits
• Complete disclosure of their location

On FMCPAY Exchange, we recognize that trust is essential when it comes to investing in cryptocurrencies. That is why we ensure to give our consumers a secure, dependable, and user-friendly cryptocurrency buying and selling platform. Not only meet all of the above criteria, FMCPAY Exchange, by inking licenced in the US, but the exchange has also surmounted one of the greatest hurdles digital currency trading startups face as the US is one of the regions with the strictest regulations. This milestone resounds with the legitimacy of FMCPAY and the safety of users who choose to trade on the exchange.

But that's not all; at FMCPAY, we're also dedicated to giving our consumers the finest trading experience possible. Our platform provides low trading fees, high liquidity, and rapid transaction times, as well as a diverse choice of trading cryptocurrencies to meet your specific requirements and preferences.

Closing thoughts

There are frauds and hacks to be careful of in every new sector expanding at rapid speed. Fortunately, investing in this fascinating new resource has never been safer with a little common sense and understanding of the crypto industry. If you want to find a trustworthy and reliable crypto exchange to start your journey, FMCPAY Exchange is one of the best for you.