1. Use secure wallets: Crypto wallets are the most important tool for any crypto investor, so it’s important to use a secure and established one. Always be sure to double-check your wallet before sending funds to make sure that you are sending the correct currency.
2. Enable two factor authentication: Two-factor authentication (2FA) adds an extra layer of security for cryptocurrency accounts by requiring two separate pieces of authentication before sending funds. Use an app like Google Authenticator or Authy to set up 2FA on your wallet or exchange account.
3. Use cold storage: Cold storage refers to keeping cryptocurrency in wallets that are not connected to the Internet. This means that the funds are kept offline, which makes them much more difficult to access without physical access.
4. Don’t keep all your funds in one place: The best way to minimize losses is to spread your funds across multiple wallets and exchanges. This way, if one wallet or exchange is compromised, you will only lose part of your funds.
5. Double check addresses and confirmations: When sending funds, always be sure to double-check the receiving address and the amount. Also, cryptocurrency transactions can sometimes take some time to confirm, so be sure to wait for adequate confirmation from the blockchain before considering the transaction complete.