Why Security Matters in Crypto
Unlike traditional banking, cryptocurrency transactions are irreversible. If your funds are stolen, there's usually no way to recover them. This makes security absolutely critical.
Common Attack Vectors
- Phishing: Fake websites and emails stealing credentials
- Malware: Software that captures keystrokes or private keys
- Social Engineering: Manipulation to reveal sensitive information
- Exchange Hacks: Centralized platforms being compromised
- SIM Swapping: Hijacking phone numbers for 2FA bypass
Personal Security Measures
Strong Passwords
- Use unique passwords for each account
- Minimum 16 characters
- Mix of uppercase, lowercase, numbers, symbols
- Use a password manager
Two-Factor Authentication (2FA)
Recommended (in order of security):
- Hardware keys (YubiKey)
- Authenticator apps (Google Authenticator, Authy)
- SMS (avoid if possible)
Wallet Security
Types of Wallets
Hot Wallets (Online)
- Convenient for frequent transactions
- Higher risk of compromise
- Use for small amounts only
Cold Wallets (Offline)
- Hardware wallets (Ledger, Trezor)
- Best for long-term storage
Conclusion
Proper security practices are essential for protecting your cryptocurrency investments.
