Here Are The Best Bitcoin and Crypto Security Practices Everyone Should Know, According to Top Trader Lark Davis
In a recent video, top trader Lark Davis discusses with his 394K subscribers the best security tips to protect their cryptocurrency.
“This is magic money and one hack can make all your funds disappear in minutes. There are people out there whose full-time job is trying to steal your crypto”.
Two Factor Authentication
“Two Factor Authentication on everything that can be put on. This is a critical step since it means that transaction or changes to your account only become possible with your phone”.
The trader also suggests using a hardware wallet as a 2fa device. Ledger, for example, has a 2fa app and the popular Yubikeyi is a cheap and reliable option.
Having a good password is another important issue. Davis recommends that traders should “never ever reuse a password for important sites”.
“You may also want to consider a password manager. And on that note, make sure you do not have a clipboard manager recording everything you copy. That’s a disaster!”.
Links & Downloads
“Be careful with links!”
Google is infested with phising sites trying to steal your passphrase and infest your computer with malware and key stroke loggers.
“The safest way to access links you use is to bookmark them”, the trader says.
He is also cautious with email saying that there has been some security breach or some other crisises on the accounts and provided with a link.
“Never click the links. 99% of the time it is scam. If there is some problems, go directly the access links you have always use”.
Another important note is never download from strangers.
“Conmen is everywhere on every social media platform. And in the same vein as not downloading from stranger, also never ever send crypto to strangers or those saying that they are your favorite influencers”.
According to Davis, hardware wallets are by far the safest option for storing cryptos. Using an old USD drive is not acceptable.
“Devices like Trezor or Ledger have unique features which make them ideal crypto storage device. You are playing with fire if you are not using one!”.
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