Hello guys, I have a new video for you! This time something different than a Bitcoin (BTC) analysis. In this video, I share four crucial tips for both newcomers to the world of cryptocurrency and more experienced investors. Despite their experience, I still see customers not implementing these basic security measures. This can lead to significant financial losses. Let’s go through these important tips.
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Implement two-factor authentication (2FA) on your crypto exchange account
The first and most important step is to set up two-factor authentication (2FA) for your accounts. This requires not only a username and password, but also an additional code that is updated every 30 seconds. This makes it much more difficult for hackers to gain access to your account, for example on Bitvavo.
There are several authentication apps available, including Google Authenticator and Authy. These apps generate a six-digit code that you need to log in. It doesn’t matter which one you choose as long as you enable 2FA.
Protect your crypto wallet’s seed phrase
A second important step is your security seed phrase. This is a series of 12 or 24 words that you get when creating a crypto wallet, whether it is digital or hardware.
Many users make the mistake of storing this seed phrase digitally, for example in a cloud service or Google Docs. However, these accounts can be hacked. Write down your seed phrase and keep it in several safe places.
Keeping your seed phrase safe ensures that you can always recover your wallet, even if you are hacked online. It is imperative not to store these online or share them via communication tools such as WhatsApp.
Curious about the rest of our tips to keep you safe in the wild but beautiful world of crypto? Then watch my video above!
Would you like to learn more about Bitcoin and other cryptocurrencies?
At Bitcoin Consultant you can take highly educational courses about Bitcoin, blockchain technology and how to invest in it. I even offer a free course for beginners! I also have a business page on our website where you can learn more about my services.
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