For the time being, the crypto market appears ready for an uptrend after a bleak winter lasting almost 2 years. So what should you, the average trader, do to prepare yourself well for the coming war?
Always move money out of the exchange every time a transaction is completed
Cryptocurrency exchanges are notoriously insecure, with users facing issues such as hacker attacks, exit scams, or annoying anti-money laundering / KYC requirements. That is why in the past few years, the slogan “You don’t keep the keys, you don’t keep Bitcoin – Not your keys, not your Bitcoin” has been strongly supported by the crypto community.
Trade-in silence, don’t go online to boast to do anything
In fact, there have been ransom kidnappings around the world because of too much rhetoric about his crypto investment process. Of course, the subject of this advice would not include influencers in the crypto market, because showing others that you trade is their job. However, if you are just an ordinary investor, you should consider it before showing off anything online.
From Facebook or Zalo, people can find out where you are, how your home is, how your friends and family if they are determined to go looking. And there is nothing good for those who want to dig through that information. Here is a list of crypto-related attacks.
Keep coins in a hardware wallet
Storing money in a hardware wallet is an investment against undesirable risks. Hacking and ransomware is an incredibly infectious epidemic on the internet and taking your money off your laptop and hard wallet is a simple way to avoid the risk of losing money for this silly reason.
Stay away from the paid “VIP group”
During the booming market growth in 2017, if you get the basket quickly, you will have to get dozens of “traders”, “trading masters” or “master shares”, and then a bunch of courses. learn to teach a trade, trading signals to trick inexperienced investors. Before you lose money on this nonsense, ask yourself if those “teachers” are making hundreds of thousands of dollars a month from trading, do they need 2ETH / month of you?
Currently, there are many sources of trading materials to refer to, the study by yourself, and make your own decisions do not waste time because of the unnecessary.
Do careful research before deciding to invest in any project
Crypto is never lacking, this is an almost unregulated market, with assets priced in the sky. This fertile land attracts the most immoral people on earth. If you have enough experience in this industry, you will understand what I am talking about.
We can talk all day about scams, fake projects, ghost contracts, flip-flops, stealing investors money, unregistered securities issuances, Ponzi schemes, multi-level, etc. clouds and clouds. Basically every scam you can imagine, someone in the crypto industry has done it before.
Invest your knowledge and make sure that you are fully aware of what you are investing in. Good luck!