As a cryptocurrency trader and holder, the longer I am involved in this world the more I recognize the dangers of being potentially extorted for the amount of wealth someone may accumulate as a result of smart trading. As a matter of fact, it is indeed happening as we speak. Just a few days ago on 12/28/17, an operator of EXMO a crypto-exchange with over 94000 investors was kidnapped by a group of armed individuals outside of Kiev in Ukraine. This group of individuals have extracted over a million out of him before his release. It is easy to ignore the dangers and the following are some of my recommendations as fellow cryptocurrency holder to help you stay out of trouble:
If you have money, keep you mouth SHUT - The louder you bark, the more attention it attracts. If you believe in the cryptocurrency revolution, spreading the word about cryptocurrency is very different then telling people how much your total networth is. There is a reason why I don't ever post any youtube videos about cryptocurrency and instead I write posts about my thoughts. Yes I won't be an affiliate millionaire, but at the same time I also won't be held against my will someday at gunpoint. The idea of cryptocurrency is to stay anonymous and let's all keep it that way. Satoshi Nakamoto is smart, had he came out and tell the world....HAY I am that guy! Can you imagine the amount of people that would want to line up and rob him?
Keep your cryptocurrency inside a secured wallet - Whether it is My Ether Wallet, or a hardware wallet like the Ledger Nano S, keep them spread out so in a case where hackers have access to one of your wallet that damages done to you is minimized
Ensure your passwords are sophisticated and is stored at a secured location - Too many times do I see people get hacked for simply being stupid. You don't have to be that one guy that loses a ton of cryptocurrency then cries about it, put the time into securing your cryptocurrencies safe is the best policy.
If you own a lot of cryptocurrency, take the time to ensure that security is the number one priority. Don't let one careless mistake messed up your entire cryptocurrency portfolio, there are other dummies out there...don't let that be you. If you are smart with cryptocurrency, you have to protect yourself and if that means to get a few computers or a few wallets DO IT. I know it is tempting to show the world that you've made it, but honestly no one cares about how much you've made from those around you that care about you. Those that DO care about how much you've made is usually ones that's looking to harm you. Be smart!
Your Fellow Crypto-Knight,
- mastaz -
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Yes I agree, keep your crypto gains to yourself, no good comes of telling the world how much money is sitting in your crypto wallet! lol
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I’m not at a point where I’ll have to worry about much of this, but keeping to yourself is usually safer. Can you recommend a hardware wallet? I’m not at a point yet where I need one, but I really like the idea of buying one using the profits I’ll make with investments in the future :)
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I highly recommend using a Nano Ledger S, greatest investment ever! :)
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Cheers, I’ll have to spend some time comparing it to the Trezor. I like that it’s open source, not sure how the Nano Ledger S compares in that regard.
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