As an investor, you’re concerned about the number of checks and balances in place. The key is to always keep your digital currency under your control to avoid crypto fraud.
Becoming a ‘hard target’ will make your digital currency less appealing to hackers. Having no global crypto regulation has its advantages and disadvantages. Crypto has seen rapid innovation, but security hasn’t been standardized. You’re responsible for managing it as a user. So, you can take some steps to keep your cryptocurrency safe, including crypto-age precautions.
Here’s how to keep thieves, hackers, fraudsters, and scammers out:
1. Invest in reputable, safe exchanges
Buying and selling cryptocurrencies takes place on exchanges, just like stock trading. There are many crypto exchanges with substantial trading volumes, and there’s always more. Kraken, Gemini, Coinbase, Crypto.com, and Binance are arguably the safest and best crypto platforms. Kraken covers 99% of the world and has a devoted cybersecurity team.
The New York Department of Financial Services regulates Coinbase and Crypto.com, while the Federal Reserve regulates Gemini. Cryptocurrency exchanges like those above have solid cybersecurity infrastructure and store user crypto at geographically distributed, heavily monitored, and armed storage…
