Earnity, a San Mateo, California-based social-first crypto platform and marketplace led by Dan Schatt and Domenic Carosa, is different from all existing crypto and DeFi products because it is a social-first company. The Earnity team also realizes that information is key to a buyer’s success, so they impart as much knowledge as possible.
On that note, here are some expert tips on how to manage your cryptocurrencies safely and securely.
Use a strong password: The password is your first and most crucial defense line against hackers, so make sure it is strong and unique. Never use the same password on different websites or accounts.
Create a backup plan: You may lose all your funds if you lose your access key or cryptocurrency wallet. Always have a contingency plan in case the unimaginable happens. This could include writing down your access key and storing it in a safe place or creating a duplicate cryptocurrency wallet.
Be aware of scams: Many scams target cryptocurrency buyers. Be aware of these scams and do your research before buying any cryptocurrency.
Use a reputable wallet provider: Not all cryptocurrency wallets are created equal. Make sure you use a reputable wallet provider with a good track record of security and reliability.
Keep updated with what’s happening in the fintech industry at all times: Cryptocurrencies are constantly evolving, so it is vital to stay updated with the latest news and trends. Being in the know will lead you to make informed decisions and protect your assets.
Buy only equal to the amount of cash you can afford to lose: Cryptocurrencies are volatile and risky purchases, so don’t buy more than you can afford to lose. Always keep in mind that profit is not a guarantee.
These are just a few of the expert tips on managing cryptocurrencies. You can check out more of Earnity’s Domenic Carosa and Dan Schatt articles for more information and advice.