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Do you think you have secure passwords? The survey showed unflattering results!

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One of the biggest mistakes in the world of trading is undoubtedly the insufficient security of their accounts. A very interesting survey was recently conducted in the USA, which showed that out of 1,021 cryptocurrency owners, up to a third flew in cryptocuperies via e-mails, various websites and fake applications.

Safety comes first

Probably the people who know how easy it is to lose their portfolio are best aware of the importance of passwords and security. A recent survey in the US by Cryptovantage entitled “Storage Security” was designed to find answers from respondents to security questions.

1021 respondents took part in the survey. Most said that the stock exchange itself was the safest place for them. Crypto exchanges came first Coinbase with almost 35%. A wallet from the  exchange was placed on other rungs Binance and Robinhood with about 25%, respectively. 26%.

Do you have a secure password?

The biggest effort of the survey was to draw people’s attention to the importance of securing their accounts. Finally, up to 61% of respondents believe that they have strong and unbreakable passwords. On the contrary, 12% of respondents do not see their security as safe.

How do you keep your passwords?

The survey also included questions about password storage. The four most common methods of storing passwords were password managers with almost 27%, handwritten notes with 18.6%, password safes with 15%, and screenshots with 10.3%.

Recover lost data

The study entitled “Coin Storage Security: A Closer Look at Cryptographic Storage and Passwords”Shows that 39.7% of cryptocurrency owners had lost their password at some point. On the bright side, 95.6 %% were able to regain access to their crypto investments, but on average, those who couldn’t access their passwords lost more than $ 2,000.

Survey Shows 40% of U.S. Crypto Owners Forget Password, 20% Write Passwords on Paper

Of the total number of respondents, up to 85.7% have used a recovered or forgotten password in the past. The survey also confirmed that the risk of fraudulent projects is still largely successful. Approximately 33% of the respondents flew through the cryptoscams, which was targeted especially for emails, websites and fake mobile applications.

Crypto scam characters.  Source: Google
Crypto scam characters. Source: Google

According to researchers at, the average loss for an individual being duped by a crypto scam is around $ 538.
Survey Shows 40% of U.S. Crypto Owners Forget Password, 20% Write Passwords on Paper

What to add at the end. You need to have a careful choice of your password, not only when it comes to trading, but in general. If you already have a well-thought-out password, you also need to think about storing it. However, never give your login details to anyone, even if you think it’s safe!

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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