If you are looking for some awesome tips related to ETH/BTC cryptocurrency trading, you have landed in the right place. You can either use platforms such as Crypto Trader or you can follow these tips, which might help you while trading.
Avoid Talking About Your Trades On Social Media Sites
Operational security is of utmost importance in the realm of crypto. The last few years witnessed people becoming victims of home invasions, individuals getting kidnapped, getting robbed for everything, and $5 dollar wrench attacks. All this bascule they needed to brag on social media websites. This must be avoided on a high notice. This is similar to like painting your back with a big red target.
People can find out where you are on many social media profiles. They can also know who your friends and family are and where you live. Not the type of data you want the bad actors to have, particularly when they view you publishing about how much profit you made. Hence, avoid posting on social media such as Facebook about your trading.
Don’t Fall Prey To Paid Groups Or Trading Signal Scammers
The last few years also witnessed a number of trading experts pop up out of the blue moon providing trading signals, courses, and paid trading signal groups. These people are fake and bogus. If they were spinning profit, they would not be selling courses or signals.
You can know how to trade by reading free ebooks about trading, taking free courses, or practicing on platforms such as Crypto Trader. Don’t shell out pennies to a bad actor who is just taking benefit of new traders.
Keep Your Currency Offline In A Hardware Wallet
One more operational security to consider as a trader is that you must keep your cryptocurrency in a hardware wallet offline. You can keep the recovery seed and hardware wallet in different, but safe locations. Ransomware and hacking is an online epidemic, and keeping your currencies off your device, in a hardware location is a simple method to simply eliminate the danger of losing money this way.
A bad actor can still probably steal or hack your coins using a $5 wrench attack, hence you have also got to consider a secure method to fill your hardware wallet, but keeping your currencies in such a machine is way more defensive as compared to a device link to the Internet.
Now that you know these tips, make sure you trade securely and make some profit.