How to invest in cryptocurrency and keep your wallet safe.


No doubt cryptocurrency is becoming more popular and acceptable means of payment online.

Hence,investing in cryptocurrency is one of the best investment you can go into online but you have to be careful so that you won't loose your hard earned money.

Before you invest in any type of cryptocurrency,you have to observe these 5 tips to make good investment and keep your wallet safe.

1.You need to know the type of digital currency you intend to invest in.

There are different types of cryptocurrency wallets ranging from hardware,software and paper. So you need to decide which one you want to invest your money in, do a lot of research and understand the pros and cons of the cryptocurrency . From our findings we confirmed that hardware wallets which wallets are stored with private keys are the most safe ,secure and popular. Nevertheless, if you lose your wallet keys there is no way to get it back.


 2.Don't ever invest in just one type of cryptocurrency.

 Even in a real life investment you will agree with me that putting all your money in only one business is not advisable so as to manage and spread risk.

This also applies to digital currency,always invest in different types of the popular cryptocurrency so as to reduce risk.
Just in case the exchange rate of one fall, you will be able to minimize loss and protect your investment.

However this requires a lot of knowledge on how to track and monitor your investment.

3. Use wallets from known source.

 Everyday a lot of wallets keep surfacing on the internet since cryptocurrency is becoming more popular and acceptable globally.

Some of these wallets are liable to hacking and most times the companies that produce this wallet are going through financial crises.

And it's crucial to know that some of these companies are not audited by startup or any financial regulators.


4. Save your wallet keys in a private and safe place.

As stated earlier cryptocurrency are liable to hacking. Therefore you need to keep your wallet keys private and safe.

To minimize chances of your wallet being hack make use of more than one keys to accredit your  transaction.

And always use a very strong two factors authentication method in your transaction.

5. Use a very strong password.

Always protect your wallet with back up and a very strong password.

An uncrackable password must have at least 64 characters.

These character should contain Uppercase and lowercase letters,numbers and symbols.

In conclusion don't ever forget your back up seed phrase so it is advisable to keep it in a safe  and private place.

Happy Investment and Happy new months.

Comments

Post a Comment

Popular posts from this blog

WARNING : Beware of this latest POS Scam.

Image
If you generally pay with POS instead of cash when you make a purchase, you need to read this. Scammers are getting sophisticated day by day and they are desperate to do anything to scam you of your hard-earned money. A business analyst, @oderathekid has brought to the notice of the populace the latest POS scam that many are unaware of it. According to him, "S o there's a POS Scam going on( not sure it's new) with some vendors. You finish your purchase and present your ATM Card for payment." "Once it shows APPROVED, they will remove your card without letting it print out a receipt, hence, the POS will revert to DECLINED." " If you complain they will tell you to contact your bank, that they will reverse the payment. Because that's the general expectations, anyone nearby (even other customers) will join them in saying the same thing" " Once you fall for that scam and pay again, your money is gone. The bank /merchant w
Read more

6 easy steps to upgrade Windows 7 to Window 10 FREE.

Image
Few days ago Microsoft stopped supports for windows 7 which means your PC is now exposed to hackers, malware and security risk if you are still using it. But you can easily upgrade to windows 10 for free using the steps below. WARNING : Upgrading from window 7 to window 10 could clean your settings and softwares. How to upgrade your Windows 7 to Windows 10 Step 1:- Back up all your essential documents, softwares and data. Step 2:- Navigate to Microsoft Window 10 download site. Step 3:- In the create Window 10 installation media choose " Download tool now" and run the software. Step 4:- When prompted, select "Upgrade this PC now" Step 5:- You will now be asked if you want to maintain your personal files or start new one. Mind you this doesn't mean that all the softwares and documents won't be erase of the window 10 upgrade. Step 6:-  once the upgrade is finished you should get a digital license for Windows 10 which you can se
Read more

How to get new MTN 9GB data plan for N2000 valid for 30 days.

Image
If your current data plan don't last up to 7days. You can now enjoy the new MTN data plan 9GB for N2000 valid for 30 days but only through MyMTN APP. You can get this plan by following the steps below. => Load your MTN SIM CARD with N2000 airtime. => Open MyMTN APP on your phone  or download it here if you don't have it. =>then click on MEGA DEAL. =>Crack the egg with 2 Bu ndle and you will see a message like this  "Get Double Data when you buy 4.5GB at N2000.You get 4.5GB + Extra 4.5GB data bonus. Data valid for 30days" => Accept and you will get 9GB of data Let's know your thoughts at the comments section.
Read more