DeFi Q&A #5
Q. What are some safety / security tips for people getting started with #DeFi.
A. A bunch of tips below π
[1/x]
Q. What are some safety / security tips for people getting started with #DeFi.
A. A bunch of tips below π
[1/x]
1/
β’ Keep your seed phrase safe. Don't lose it or let anyone get access to it, or you could lose all your money.
β’ Don't send your crypto to a project without understanding it first.
β’ Check if project smart contracts have been audited by a reputable auditor.
β’ Keep your seed phrase safe. Don't lose it or let anyone get access to it, or you could lose all your money.
β’ Don't send your crypto to a project without understanding it first.
β’ Check if project smart contracts have been audited by a reputable auditor.
2/
β’ Send a small amount first when sending to a new wallet or protocol. If you can't withdraw from the protocol, that's a major red flag.
β’ Using a hardware wallet is usually the safest way to store your crypto.
β’ Set up 2FA on exchange accounts.
β’ Send a small amount first when sending to a new wallet or protocol. If you can't withdraw from the protocol, that's a major red flag.
β’ Using a hardware wallet is usually the safest way to store your crypto.
β’ Set up 2FA on exchange accounts.
3/
β’ Split your funds across several wallets and protocols
β’ Be on the lookout for phishing / social engineering attacks. Be careful when clicking on links in emails. Don't believe someone because they call you and tell you they're from your bank.
β’ Split your funds across several wallets and protocols
β’ Be on the lookout for phishing / social engineering attacks. Be careful when clicking on links in emails. Don't believe someone because they call you and tell you they're from your bank.
4/
β’ Back up your Google Auth codes:
β’ Back up your Google Auth codes:
https://twitter.com/shivsakhuja/status/1476126710424752128?s=20
5/
β’ Make yourself aware of common scams in the space. I have a video about this too:
β’ Make yourself aware of common scams in the space. I have a video about this too:
6/
β’ Learn about common mistakes people make in DeFi (and avoid them):
β’ Learn about common mistakes people make in DeFi (and avoid them):
https://twitter.com/shivsakhuja/status/1479879576427778048?s=20
β’ β’ β’
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