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Do These 6 Things Before Buying Cryptocurrency (Part 2)

By Dennis#MD, 06/06/21
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Do These 6 Things Before Buying Cryptocurrency To Stop Hackers From Stealing Your Cryptocurrency! Cryptocurrency: Part 2

How to Safely Buy Cryptocurrency

1. VPN (PIA)

A PIA VPN is a MUST when operating in the crypto space, especially if you use public wifi, you’d be crazy to log into your crypto accounts without using one. A VPN can stop hackers gaining access to your computer, especially when using public wifi!

2. Post it notes & laminating machine

I know this is going to sound really old school, but I don't save any of my finance based usernames or passwords on my laptop or phone. I keep everything offline manually in 4 secret locations.

You’re going to have at least 3 complex usernames and passwords: Email, Authentication, and your crypto platform. And, if you use multiple crypto platforms you could have five or six of these complex usernames and passwords.

You also don't want to write on the Post-it note what the email and password is for. Instead, use a reminder so if the email and password is for your crypto account, you can use the letter C, or C1, 2, 3 for your different accounts. If it's for your authentication account use the letter A, and so on for your email account, using the letter E. This just gives that extra layer of security.

3. Encrypted Email

Don't use your normal email accounts for this please! You need to create a new email. I use Proton mail: which is an encrypted email. And also make sure to never use this email for anything else.

You also don't want to have your username be your name or anything you currently use. And definitely not the same username for your Gmail or Hotmail either, because I can assure you that with all of these large-scale data breaches over the last few years, there's a good chance your username and password is already out there.

4. Passwords

Whatever you do, do not use your normal password like your pet's name or whatever else you use… and definitely do not allow your laptop or your computer to save this in the keychain.

For me personally, I create my own passwords and I make them extremely long and complicated. And I know many people will say that's too much hassle to do that and you'll forget it, but that's the point.

You don't want to be able to remember this password, it needs to be very complicated. you want to use a mixture of capital and lower case letters and unique characters . And if you're thinking that you’re afraid to lose the piece of paper, that's why you have it in several locations and you don't tell anyone what it is.

I would recommend, 1 on you, wallet, 1 slipped inside a small book and then leave that book on a friends bookshelf, or just ask them to hide the post it for you. And one hidden somewhere random like slipped in between a picture and the frame.

5. TWO factor authentication:

I use both Authy & Google Authenticator. I'm not going to go through the entire tutorial on how to use authy and Google Authenticator because it would take me 20 minutes and there are already some really good tutorial videos on YouTube for this should you get stuck. But it's pretty straightforward.

6. Cold Storage:

Buy a cold storage device, I have linked to the device I recommend below in the description. The great thing about cold storage is that it allows you to secure your crypto with almost zero risk of anyone ever hacking your wallet and stealing your crypto because it’s 100% offline.

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