Protect your Bitcoin!

Hi Steemians!

As I was thumbing through the New York Times this morning I stumbled across an interesting piece on hackers and the risks of holding virtual currencies. There are some really critical points to take away from this that one should keep in mind as the market continues to expand. I know it's the NYT and they are probably behind the curve on crypto etiquette, but the cautionary tales described in this piece are very real and scary as all hell. The link is below, but I thought I would highlight my main takeaways from the piece.

1. Try not to hold any value in exchanges. Use a cold wallet, if possible. Considering how quick and easy it is to transfer tokens to exchanges - especially with the high performing currencies such as XRP - there is really no need to keep your exchange accounts liquid unless you are a day trader. And honestly, day trading crypto is so unpredictable. I wouldn't recommend it, personally. The whole point of crypto is the decentralization of value, right? So why trust an exchange when you can lock your crypto into an impenetrable cold wallet? Don't just talk the talk on decentralization - walk the walk.

2. Don't use your phone number as a security measure. Two step verification can mitigate the risks, but nothing is off limits once a skilled hacker has access to your phone. This includes bank accounts and potentially incriminating information e.g. fetishes, naked photos, etc. Think blackmail, people. And these hackers are very persistent. They will call your cellular company hundreds of times until they find a customer service agent that is just stupid enough to hand them the keys to your life. Try to keep crypto as detached from your day-to-day life as possible.

3. Nobody is immune from a potential attack. Hackers are targeting highly visible crypto fanatics as well as randoms who boast about crypto on social media. Keep a low profile.

Here is the article. It's a good read! Stay on your toes, and keep safe.