Written by: Tim Pace 2–10–2021
Hey everyone and welcome to the mind of Tim Pace. Today I want to discuss cryptocurrency security. Yes I know its not as flashy as profit and trading and lambos etc but cmon guys and gals. Lets get serious. The internet is a fantastic invention. But with the invention of the net came hackers that could break into nearly any hot connection (hot meaning “Connected to the internet”) With the growth of Bitcoin comes the growth of those that want to cyber pickpocket you from across the globe. It is so easy if you are flagrant with your money. I am going to attempt to cover a few things you should definitely watch for out in the wild. After all when I first got into crypto back in 2017 I remember the first guy I remember watching on Youtube that was crypto related told me that it was the wild west… How right he was. Allow me to elaborate…
Security is always ignored until it is too late. Unfortunately most people do not worry about things like being hacked until after it happens. It is just unfortunate. Perhaps as we drag our fellow humans into the 21st century and start using internet magic money we will see a rise in price. Everyone loves that right? Well with the rise of Bitcoin in terms of price brings the scammers out like roaches coming out after humans leave and the coast is clear. Scum. Garbage. Call scammers and hackers what you like but at the end of the day you are the best defense between you and a hacker or scammer. Simple knowledge can be the key between winning and possibly losing a situation like this.
“Tim, I hear there are loads of scams. How can I tell the difference between a legit offer and a scam?”
Unfortunately this is where you are going to have to use your better judgement no matter how much you do not trust it. You will learn to identify most scams pretty easily. The hackers tend to be more crafty. Let me explain exactly what I mean.
Hackers will be smart and pretend to be an exchange for example. Lets just say Coinbase for this instance. They will send you an email (“They” being the scammers) telling you that they need you to reset your password. That should automatically set off red flags. Ive used Coinbase for 3 years and they never ask for stuff like that. EVER. So its a scam most likely. They want your password. So if you were to not realize the scammer is not really Coinbase you very well could have “reset your password” which is a load of you know what. They will steal your money…
