10 Crypto Security Mistakes That Will Send Your Portfolio To ZERO

Here are some critical crypto security mistakes to keep your coins safe!
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Lark Davis Crypto Portfolio & Disclosures

00:00 Intro
00:53 Hardware Wallets
02:05 Online Key Storage
02:39 Passwords
03:41 Two Factor
05:06 Burner Wallet
05:53 Dumb Contracts
06:14 Phishing Scams
09:07 Public Wifi
09:50 Wrench Attack
10:48 Lifestyle

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Disclaimer
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Quick question are you afraid of getting your cryptocurrency stolen are you afraid of getting scammed well it’s actually a pretty rational fear and you’re not actually alone every year thousands of people just like you get scammed they lose all their money I sadly get these emails far too often for

People just like you saying that they just lost it all because they clicked on a bad link or something like that and look whether you’ve been in crypto for years or days or minutes I guarantee that this video will be packed with value for you so watch the whole gosh

Darn thing if you want to take keeping your coins seriously because remember this simple fact stealing your coins is someone else’s full-time job and the video short it’s to the point don’t skip any of it because scammers rely on your laziness to steal your coins okay number

One not using a hardware wallet classic mistake if you have more than a few bucks worth of cryptocurrency then you need to get a hardware wallet straight up hot wallets are simply not good enough and exchanges they’re not Banks they’re marketplaces the best way to keep your cryptocurrency

Safe is by using a hardware wallet for your main portfolio Holdings anything you’re holding longer term not trading actively on Exchange put it on your Hardware wallet this keeps your coin safe makes them only transferable if you have the physical device on hand where you can click the buttons hey also along

Those lines a good bit of diversification probably doesn’t hurt either maybe for example you get two or three harder wallets you put your Bitcoin on one wallet your ethereum on another wallet for example obviously protecting your wallet’s passphrase is super freaking critical write it down use one of these things pen paper

Laminate protected from water damage or even Next Level buy a steel key store device to protect it from fires like Hammer the keys into it it’s pretty neat that leads me on to the second Point never ever ever and I do mean never keep your keys or passphrases

Online it will get hacked it will get stolen doesn’t matter how clever you think you’re being they will find it don’t keep it on your email don’t keep it in the cloud don’t DM it to yourself don’t put it on Evernote don’t even put it in some kind of super sophisticated key store

Encryption service they will get it they always do past phrases need to be kept offline at all times now let’s talk about passwords password one two three it’s not going to cut it ma’am hackers will use their software to crack that code in literally like one second but something like this

Capital P as s s369 sign sign word hashtag hashtag will take them six years to crack now look there are various methods to ensuring password security including using something like a password manager to make very very hard passwords for you you can also just make strong passwords

Manually and then again get the get this oldfashioned thing out and write them down uppercase letters lowercase letters special characters numbers make it like 20 characters long obviously never use the same password twice for the same things especially when it comes to anything that has money attached to it

Every exchange account unique hard password every wallet unique hard password social channels lock them down unique hard passwords again critical security here do not be lazy on this or you will get hacked next you need to have two Factor authentication on everything everything on your email on your social accounts on your exchanges

Everything everything you guys see the the professional movie with Gary Oldman everything anyway if you don’t they’re going to find they’re going to get your coins it’s all going to be gone okay the simplest route is using the Google Authenticator app now the worst route is using your phone to get text

Messages especially if you’re in the USA where something called Sim swap hacks happen all the damn time they get your phone they steal your phone because they call up the the phones provider and they just give it to them if you’re based in the USA you have to look into this so

You can keep yourself safe there are services that do cost money but they will keep it your phone safe and keep this from happening two Factor Med ation on a device that you have is safe is the best way to keep your coins safe okay use the authenticator apps critical step

Don’t fade it okay now before we get into the next critical security tip just a reminder for those of you who are looking for that sweet sweet money-making Alpha in crypto but maybe you’re a bit time poor you got the job you got the wife you got the kids you

Got the dog you try to have some kind of time to go to the gym whatever you need get signed up for wealth Master newsletter every single issue is packed with info on altcoins aird drops charts tutorials and much more it’s made for you we know you’re busy we pack it down

For you join our 100,000 plus weekly readers for free by using the link in the description next tip use a burner wallet if you are engaging with high-risk behaviors on chain use a burner wallet now if you’re doing airdrop farming use a hot burner wallet clicking on links that you’re not 100% certain

About use a burner wallet that’s a wallet that’s just a hot wallet you’re can put five bucks in there 20 bucks whatever if you’re trying new Farms do a small money before actually aping in more money from your main account wallet segregation alone can save you a lot of

Big headaches okay and I know it can be a pain in the butt you got all these damn different wallets you got this one over here and this over here and you got 10 pass phrases written down I get it it’s me okay but taking that extra time

Can save you from a potentially devastating hack because it happens it happens all the time to people just like you also keep in mind the next tip smart contracts of course the technology that underpin almost everything we do on chain p and make so much of crypto possible they’re actually kind of dumb

They should rename dumb contracts look your chance of approving a contract for a malicious site it’s pretty high there are a few main attack vectors that’ll allow hackers to steal your coins one’s the just the good old fashioned fishing link now this is pretty common around

Stuff like an airdrop so you’re going to go to social media and there’s GNA be all these accounts that look like the account you’re trying to get the airdrop from but it’s a fake link the hacker post a fake link to a fake website that looks legit you go there you connect

Your wall you Pro the fake contract to claim the airdrop and then your money’s gone number two is getting fake coins in your wallet so you can get a token named after something popular like a popular mean coin dumped into your wallet you’re like wow free money somebody must sent

Me this by accident this is so cool you go and approve it and then all your money’s gone be careful nobody send any free money just randomly also old contracts they can also get hacked so remember that defi protocol you’re using like two years ago yeah that just got hacked bad news and

Guess what you had approved an unlimited spend approval on chain for that app and now all your money’s gone use a website called revoke re v o k dotc it allows you to see all contracts that you have approved on that particular address into revoke the authority to those contracts if you’re

Not using something anymore revoke it also to expand on the topic of fishing scams let’s talk about non-smart contract fishing threats because they’re also super prevalent in crypto here are the two most most common types that we’re seeing right now there’s email and social email fishing scams will pretend

To be from a company like coinbase metamask binance whatever and they’re going to say something like you’re Accounts at risk there’s been an unauthorized login somebody’s trying to withdraw something you have to click here right now it’s super urgent do it right this very second or all your money

Is going to be gone well then you go click you enter your password whatever and then all your money’s gone because the scam and all your money has been taken by the scammer okay be careful always check email addresses always actually just go and log into the actual site if something’s

Actually wrong it’ll tell you on the website don’t click anything your emails okay and the second is social engineering scams this is when someone often someone really famous slides into your DMs offering you Bitcoin mining Forex Trading or some kind of like hot money-making bot that’s going to make

You 20% a day or some other too good to be true offer to be clear no one is going to send you two Bitcoin if you sent them one that’s not a thing it doesn’t happen Okay and AI has made this kind of scam with people like Elon Musk and Michael

Sailor being deep faked all the time to ask for that Bitcoin is it’s very prevalent you probably even see an ad for it on this video which is insane and no Elon Musk is not going to be up in your DMs asking you to send them a $1,000 doll for some Bitcoin Arbitrage

Thing like come on man use your brain and no that hot girl in your DMs trying to get you to learn Forex and deposit some money on exchange for big gains do not send that dude because it’s the dude money okay random thought as well the real world it’s also filled with threats

For crypto investors a a big one of course is public Wi-Fi when traveling abroad or in cafes or whatever never connect to public Wi-Fi either wait or buy a damn SIM card that free Wi-Fi that can cost you a lot if your phone gets hacked or if they manage to install some

Kind of malware some sort of malicious software like a keyboard stroke logger that’s going to capture your passwords when you enter them the risk is not worth it unless maybe you’re connecting a burner phone which is not connected to any of your email any of your socials or

Any of your crypto or any of your authenticator apps then maybe it’s okay but most people don’t have that phone the next one is something that will probably be more applicable to some of you than others depending where you live in the world but a $5 wrench attack it’s

A real threat ideally don’t make videos about cryptocurrencies and post them on the Internet anyway heck don’t tell anyone don’t wear a Bitcoin shirt don’t talk about loudly in cafes with your buddies oh I just made a bunch of money on this people are listening there have been far too many

Kidnappings far too many torture cases where people were forced to give up their crypto at the threat of well good old fashion wrench beating or worse or you can just move to Dubai not have to worry about any of stuff on the safest cities in the world no taxes on

Crypto anyway way but for people living in a lot of big cities around the world whether it be London or New York or thousand cities in between keep your personal security top priority and I hate to be paranoid but I can almost guarantee you that you are not being

Paranoid enough when it comes to your crypto final thought and perhaps even the most important one be careful of the lifestyle creep in this market if you do it right you’re probably going to make a lot of money again if you live in a city that has a crime problem it’s really

Something you got got to consider and be careful about I know getting the watches is tempting getting the cool cars is tempting right I get it I get it won’t play that game and I myself of partaking of some of that sweet sweet nectar but many places in the world it’s not safe

To do London for example has become famous for armed games uh ripping watches off people’s arms but in crypto those kind of symbols of wealth don’t just attract the wrong attention for somebody to come and take your watch and get your watch it’s pretty annoying but it actually becomes pretty unserious

Very quickly if those guys also figure out you’re a crypto dude like oh well we got your Rolex but now we see where wearing that Bitcoin sh sure you got Bitcoin let’s go to your house and take all that too stay safe remember it’s someone else’s full-time job trying to

Steal what you have and online it makes it even easier subscribe now be safe see you Later