Differences
This shows you the differences between two versions of the page.
| Both sides previous revisionPrevious revision | Last revisionBoth sides next revision | ||
| security [2020/02/10 19:12] – boot2thrill | security [2020/02/10 19:15] – boot2thrill | ||
|---|---|---|---|
| Line 34: | Line 34: | ||
| By far, the riskiest method to store your cryptocurrency is on exchanges. The cryptocurrency golden rule is **NOT YOUR KEYS, NOT YOUR FUNDS**. Storing your crypto on exchanges keeps control of your funds in the hands of a third party. The exchange is holding your crypto in their wallets. They control the private keys, they control the recovery phrases. There are many examples of exchanges being hacked and clients losing their crypto. | By far, the riskiest method to store your cryptocurrency is on exchanges. The cryptocurrency golden rule is **NOT YOUR KEYS, NOT YOUR FUNDS**. Storing your crypto on exchanges keeps control of your funds in the hands of a third party. The exchange is holding your crypto in their wallets. They control the private keys, they control the recovery phrases. There are many examples of exchanges being hacked and clients losing their crypto. | ||
| - | Short-term storing of your crypto on exchanges for trading purposes is understandable. However, long-term storing of your crypto on exchanges should never be considered a secure option. Remember, **NOT YOUR KEYS, NOT YOUR FUNDS** | + | Short-term storing of your crypto on exchanges for trading purposes is understandable. However, long-term storing of your crypto on exchanges should never be considered a secure option. Remember, **NOT YOUR KEYS, NOT YOUR FUNDS**. |
| ===Enable two-factor authentication (2FA)=== | ===Enable two-factor authentication (2FA)=== | ||