Hi Subscriber,
This week, bitcoin cash broke $4,300 shortly after Coinbase announced that it would let users buy and sell the world's third-most popular cryptocurrency.
That makes your digital coins an attractive target for scammers and thieves.
Here are important tips to safely keep your bitcoin cash. - Write down and securely store your backup/recovery phrase. Never give untrustworthy parties access to your backup phrase. A thief or hacker can use your phrase to access your wallet and steal your BTC/BCH. Moreover, do not screenshot or copy and paste your backup phrase onto your PC or other device. A hacker may look into your folders and steal passwords and backup phrases.
- Never allow remote access to your PC to receive technical support. An IT representative (or hacker pretending to be one) may ask you to run software and type in commands that could expose your private key.
- If you have a significant amount, do not store all your BTC/BCH on a mobile device or with an online service such as an exchange. Consider cold storage (offline storage) such as a paper wallet, and consider storing it in a safe deposit box, vault or other highly-secure location. Make sure that your wallet is safe from hazardous or weather conditions. (Consider putting it inside a sealed bag.) You can also use a hardware wallet.
- Watch out for scams. Fraudsters often target vulnerable or uninformed people. Research and understand best practices for safeguarding your bitcoin and bitcoin cash. Don't be fooled by get rich quick scams. If it's too good to be true, raise your suspicions.
- Don't send BTC/BCH to unknown or unreputable websites that claim to reward you with large amounts in the future. These sites or apps may also try to trick you into installing a browser plugin or software that contains malware and viruses.
Cryptocurrencies are seeing record valuations. You should assume that fraudsters are constantly scheming to steal your bitcoin and bitcoin cash.
You can use our wallet to store and protect your crypto funds.
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