Funds are SAFU: 5 tips on how to keep your crypto safe

Security comes first, especially when it comes to your crypto assets. Offering you a reliable and secure trading platform, we are constantly striving to improve. But first and foremost, every crypto investor should be aware of a few important security tenets.

In today’s article you will find some effective tips to help you protect your valuable crypto-assets in 2022.

Separate accounts, such as email and phone numbers, must be used for crypto-assets. In this case, even if public data is matched, your funds on crypto accounts will be safe from fraudsters. It is crucial to keep personal data private from the public domain, e.g., on social networks, messenger apps, or blogs.

Two-factor authentication will give you added security to your account! When used in combination with other security measures, it can significantly increase the level of account security.

It would help if you used the maximum of security features:

SMS confirmation, anti-phishing code, two-factor authentication, and email verification code.

We often use one password on all sites and applications. If your password contains your available personal information or an ordinary digital password, it will be easy enough for an intruder to crack it with simple brute force or software.

Therefore, use secure passwords:

  • BIG and small letters
  • Special characters
  • Numbers
  • Passwords should be at least 12 to 20 characters long.
  • Use a complex password generator
  • 1 wallet = 1 password.
  • Keep passwords in a safe and inaccessible place.
  • Never share your passwords with anyone.

Do not store the whole seed phrase in one place. The best and most sensible practice is to divide it into two parts and store them in different safe places.

(Seed-phrase is a set of random 12,18 or 24 English words, which is used to restore a cryptocurrency wallet);

Be careful about wallet updates, if the update is fraudulent, you can instantly lose your funds;

Before you start actively using the wallet, it’s worth trying to delete it and restore it through a phrase.

We also recommend dividing your cryptocurrency portfolio into different vaults to reduce the risk of losing more funds. For example, you can consider using a mix of crypto exchanges and crypto wallets.

Previously, we have written a blog post for our users on the pros and cons of hot and cold wallets. You can read it here.

The expansion of the cryptocurrency market is leading to new waves of cyberattacks and fraud, which is why we have been working with cyber security market leader, Hacken Security, since last year.

Hacken advises FMFW.io on improving security based on extensive experience and best practices, and we have successfully passed Hacken’s penetration test.

It is crucial for our entire FMFW.io team to educate our traders on the importance of adhering to such rules. Asset protection should be on the pedestal of every exchange.

Let’s summarize!

Today, blockchains offer many solutions to protect your cryptocurrency funds. To keep yourself safe when trading, storing and using funds, it’s best to trust in simple but effective ways, and choose a storage medium with the advantages and disadvantages of each option in mind. Be sure to research all available information before depositing your money or cryptocurrency anywhere.

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FMFW.io does not provide financial, legal, accounting, or tax advice. Any statement regarding such matters is explanatory and may not be relied upon as definitive advice. All users are advised to consult with their financial, legal, accounting, and tax advisers regarding any potential investment or trading activity.

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Cryptocurrency exchange on a mission to Free the Money, Free the World