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Chris
Chris

Posted on

Crypto Safety

Ok Serious talk..

as exciting and rapidly evolving as the crypto space is, there are still always the select few out to spoil the party however they can, yes im talking about scammers.

I've seen just about every scam going, from fake BTC giveaway wins over direct message in discord.. to the more elaborate social scams with people posing as 'Support' for a company like Opensea in a fake server.

Im going to teach you the most important ways to combat scammers and make their job a hell of alot more difficult.

1) When you make a new wallet, you are often provided with a 12-24 word seed phrase, this is basically a recovery method incase you lose a device/need to add the wallet to a new device. NEVER give your seed phrases to another soul or keep them stored in any online documents. Yes, im telling you to revert back to the old parchment and quill =). you can even get them laminated and store them in a fireproof lockbox!

2) Buy a Hardware wallet, if you revert to this posts picture you will see a typical hardware wallet supplied by https://www.ledger.com/ they are the most popular hardware wallet on the market and cost between £54-£110 (NEVER buy from anywhere other than their official site as there has even been reports of amazon reselling returns and people having their crypto stolen!). The ledger should always be factory sealed and untampered with, this is not a time to try and save £5 buying elsewhere =)

you might decide while you're still a low cap investor its not worth the outlay.. which of course is fine, just please keep it in mind once you feel you need to protect what you have.

So what does it do? a ledger is basically a 'cold wallet' it remains offline and is connected to via bluetooth to sign transactions. Transactions cannot be made without the ledger, which makes scammers jobs extremely.. physical lets say! you use an app called 'Ledger live' which just acts as a window to your coins

3) Trust nobody, no matter how nice somebody seems.. you never truly know their motives.. don't trust strange links sent to you privately as some are designed to try and get you to connect to your wallet and steal your Crypto/NFTs. Once again there is never any reason to give your seed phrase to anybody or let them know your QR code or login details.

Happy to answer any questions, please ask and don't risk becoming a victim

Discussion (1)

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Lee Wynne

NEVER buy from anywhere other than their official site as there has even been reports of amazon reselling returns and people having their crypto stolen!

Wow!!!