During a wave of new users entering cryptocurrency, in a bull run market that is still happening, it is essential to note that the crypto world is not entirely safe.
This is because irresponsible people use crypto users who are less careful in securing their assets.
But of course, this can be prevented; how? Veronica Wong, CEO of SafePal, also shared three ways to secure crypto assets for beginners.
Don’t Pin to Others
The first way to secure crypto assets is not to give your key or pin to anyone, even to the exchange or wallet user uses.
Do not carelessly click on links provided by unclear sources, and be careful in filling out the questionnaire.
If a questionnaire asks you to fill out a Pin or Private Key, you should not fill it out even if it is requested directly by the support team. Always keep the private key to yourself and never give it to anyone else.
Store your Private Key in a Safe Place
Keep your assets in a safe place, one of which is using a hardware wallet. Generally shaped like hard drives, wallets tend to be more secure because they don’t have to be connected to the internet.
You can consider various hardware wallets, one of which is SafePal, which has affordable prices, is easy to use, and has high enough security.
Using a hardware wallet also allows you to maintain and be responsible for your assets. If you are already using a hardware wallet, you must keep it from being damaged, lost, and so on.
Backup Mnemonic Phrase
A mnemonic Phrase or mnemonic phrase is a secret group of words representing a wallet. When used sequentially, they allow access to the cryptocurrencies stored in them.
Mnemonic phrases are often 12 letters or more, created when a new wallet is designed to store cryptocurrency.
If the computer running the crypto wallet dies, gets lost or even gets stolen, you can use mnemonic phrases to recover the wallet and crypto you own. The words must be typed in the exact order in which they were created.
It is, therefore, essential to store phrases and back them up in various locations. You can save it on a piece of paper and keep it in a safe place, so it doesn’t get stolen.
That’s the way to secure crypto assets. Crypto asset investment requires us to be more responsible because once our assets are lost, it will be challenging and even impossible to recover.
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