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Expert tips for secure crypto trading

2 min read

Secure crypto trading is an issue for every other trader. The rising cases of successfully carried out cyber thefts are shockingly worrying and a threat to any and every consumer owning a smart tech product. Better Business Bureau supports consumers across the US, Mexico, and Canada to find trustworthy digital businesses and even has a top-notch scam tracking system.

To widen knowledge of consumers across the board, BBB.org is gearing up to spread awareness on this lurking danger since October is National Cyber Awareness month.

BBB scam tracker reports the widening base of crypto scams through social media. The reports reveal the hazards of people without taking secure crypto trading measures.

At least 50% of reported incidents claimed to lose $1000, another 15% of incidents claimed more than $10,000, and a massive 91 percent of consumers reported scammer engagements while over 50 percent lost money. While a US department of justice report reveals that as much as $1.9 billion was lost to scams in 2019 largely due to a lack of secure crypto trading measures.

Tips for secure crypto trading

It is important to stay vigilant while being involved in digital dealing of all times to avoid falling prey to uncanny hackers and scams. Being in the field since 1912, BBB has some excellent advice for the laymen on how to stay secure from ghoulish tricksters and malicious scammers.

  • Be wary of too good to be true deals or advertisements on social media, and is best to verify through other digitized sources before clicking on them.
  • Cannot stress enough on keeping devices such as smartphones and routers software updated as well as keeping up with the latest anti-malware on smart devices.
  • Any crypto investment should be backed by a strong knowledge of the technology behind it as well as going through regulated crypto channels.
  • Owning a phone number specific to internet authentication can avoid exposure to risks involving home number details. Secure all logins through multifactor authentication.
  • Ensure verifying sources of files and apps before installation on any smart devices.
  • Long, strong. Complex passwords that are frequently tweaked are the way to go to avoid hacking ad staying digitally secure.

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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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