Ultimate Guide to Keeping Crypto Safe: 20 tips everyone should follow!

CORRECTION: Apparently I found out after the fact that The Video was from a third-party content creator, Podcast Clips. This was not from Lyn Alden or Wolf of Wall St. His real YT channel is Scott Melker. Someone misappropriated Scott’s clip with Lyn and inserted the ad!

#CryptoSecurity #SecuringYourCrypto #KeepYourCryptoSafe #20PointGuide
DISCLAIMER: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss. Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.

Ultimate Guide to Keeping Your Crypto Safe: How to lock down your security 20 point guide.

0:00 RISKS (the biggest one is yourself)

0:30 Scammers Are Everywhere
For more info, check out my video:

1:00 Remember the Golden Rule
If it sounds too good to be true,
it probably is.
The Giveaway Scam over 130K views - rem it is always DEPOSIT FIRST AND THEN WE SEND YOU YOUR DOUBLE ETH :D

1:30 Watch Embedded Advertisements!
This one surprised me embedded ad not a google ad - deposit 10 BTC and we give you 10 BTC - not sure if it is a total scam but I am 99% they will swindle you some way or another thru terms and conditions. PS Love Lyn

2:45 I will NEVER follow or reach out to you.
This is NOT me.
I am INVESTANSWERS
on Instagram.

3:14 Step 1 Passwords
The world is moving away from PWs
Never use the same PW more than once
PW Strength is VIP
Password-crackers can rifle through 350 billion guesses per second. Use a random mnemonic generator to create a passphrase,

3:45 Step 2 Use 2FA
Raivo OTP for 2fa. Have separate 2fa for sign in and a separate one for funding/transfers

4:00 Step 3 Use Google Voice For 2FA
How do they get your SIM / One of the reasons SIM-swap attacks have been so successful is that many mobile phone carrier representatives are extremely easy to socially engineer.

4:30 Step 4 Social Media
Be careful what you post online (esp how much crypto you have)
Don’t let people how much crypto you own.

4:50 Step 5 Never Share Anything with Anyone
Social engineers, people pretending to be apple or google or Coinbase Eg Coinbase: you cannot reach customer support - do you think they have the time to call you?

5:20 Step 6 Never Let Anyone Control Your PC Remotely
Turn off remote access to your computer

6:00 Step 7 Check for Cryptojacking
Malware could be on your PC or phone. A quick list here on how to detect crypto-jacking

6:10 Step 8 Email Create a dedicated email for exchanges
eg protonmail
Dedicated Gmail on Yubikey
Lockdown your email eg with a Yubikey
Have a 2nd key or a passphrase (eg Google)

6:30 Step 9 Computer Dedicated computer for exchange trading

7:20 Step 10 Open Networks

7:40 Step 11 Network

8:10 Step 12 Centralized Exchanges
Centralized Exchanges like Ameritrade make sure they call you before any transfer happens
Configure U2F technology if they have it
If not use Google Authentication for CEXs
Banks and CEXs are insured, Crypto Exchanges are not. Hence targets

8:40 Step 13 Hardware Wallet (Cold Storage)
We are going to do a more detailed vid on this in the future

9:20 Step 14 Software Wallet (Hot/Desktop) eg Metamask
Best never to store anything on a hot wallet eg Metamask
But fine to use Metamask for transfers

9:49 Step 15 Risk Mgt: Transferring Crypto
Do a small test first
Check the blockchain
Whitelist your address book
When you make a transfer check the end address is the address you are sending to eg Ledger or Trezor it will show the address on the device

10:24 Step 16 Use Security Key
Yubico’s Security Key YubiKeyGoogle’s Titan Security Keys Thetis’s FIDO U2F SoloKeys’s to lock down your crypto exchanges and email

11:00 Step 17 Enable Address Whitelisting

11:30 Step 18 Beware of Fake Wallets
Famous ledger case - ledger customers now receiving fake wallets in the mail. Make sure you buy from reputable sources and have them mailed to PO Box

13:00 Step 19 Store Seed Phrases with Utmost Vigilance
Seed Phrases are your coins!!!!
A Bip39 seed phrase is that curious string of 24 words from which you can derive a private key.
Meticulously record your steps, so your loved ones can recreate

14:00 Step 20 BE PARANOID

[dimcho]

10:18 James makes great sound impressions as well

[LMartinez-cwzi]

Keeping us safe and informed! You're like a crypto dad lmao

[slimeslime]

Best crypto content on YouTube mate 🙌🏻

[sama.]

Thank you so much for taking the time to collect this information!

[ciarog]

I'll have to watch this one ten times. That was a lot of info!😂

[johorm]

Hi James. I discovered your channel about a month ago. Look forward to it daily. You’re a welcome and rare addition to the space. I hope you’re internal life is as good as your investment one. Take care.

[drew-vc]

_Really, very excellent professionalism with great humor on the video, _

[ddhgerlb]

Thank you for caring and sharing. Security can not be overrated. It would be great to either deep dive more into the details or maybe the community can suggest some more valid information videos from other security experts. 👍

[blueskiesNTF]

Thank you, James! Much needed and appreciated! You’re wonderful!!

[mikemalone]

Hey James, your a breath of fresh air in the space. No hype and no EGO. Would like to see your thoughts on QNT, Quant Network

[RGBTC]

Loved this video. I wanted to mention if you are using certain exchanges (Celsius, BlockFi, & Gemini that I know of) enable you to designate wallet addresses as the only wallets your crypto can be transferred to.

[likota]

I would add step#21 diversify: Spread your coins on several different wallets. If one gets hacked, you will not lose all your crypto.

[joshsousa]

Great video, you could do a multi part series on just these topics alone, emphasizing on the way we can actively protect with good practices. Love your stuff you have inspired me

[suunt]

Thumbs up in the first 2 seconds of any video you make. Great stuff. 👍👍

[natesantos]

On another video James mentioned something about calling your phone carrier and telling them something about the SIM. Unfortunately I have T-Mobile and I couldn't find the video where he mentioned it.

[DH-bcim]

Don’t forget Juice jacking... avoid free charging station in public!

[gerganamiteva]

Really appreciate the altruistic perspective you have it is very refreshing and inspiring.

[cryptolukeout]

I appreciate the info! Having been scammed 12k out of my retirement money less than a month ago I wish I had seen this video. New to crypto (as of 4/19/1021) and so it was a huge bummer needless to say.

I had heard about don’t give your pass phrase to anybody but I thought I was safe giving to a website and not a ‘person’. That’s where my error was. Great content mate 🙏🏻

[ChristinaChrisR]

So good. Thank you. Your channel/your approach is one a really appreciate.

[asakim]

Looking forward to you explaining the "whitelist your address" part you mentioned, in a later video...