How to Minimize the Risk of Losing Your Assets?

nomad

Very Familiar
Member
Jun 22, 2022
11,297
517
Dex
$2.700
Raw Dex
$0.772
Even though there are multiple decentralized exchanges and wallets, most of us are using centralized wallets and exchanges because of the features and ease of use. When you are using a centralized system, you are always at risk of losing your assets. Well, in order to minimize the risk, you will have to use multiple wallets and exchanges. When you lose your assets on some, you will still have assets on other platforms.
 
AgoraForo - Digital Marketplace & Freelancer Forum

Suba

Notable
Member
Nov 11, 2022
3,879
471
Dex
$0.000
Raw Dex
$1.585
I agree with you, to reduce the risk of losing your crypto, you need to divide your crypto storage into several crypto wallets and exchanges, so that all your crypto is not on one platform. This strategy is carried out especially if you only use a hot wallet.
 

Etini Willie

Notable
Member
Nov 22, 2022
3,617
93
Dex
$0.000
Raw Dex
$0.201
You have to set a two factor authentication before transactions can be completed in case someone gains access to your wallet. You have to be sure that you protect your private keys from intrusion.
 

Blessed19

Notable
Member
Mar 1, 2023
1,728
105
Dex
$0.000
Raw Dex
$0.000
This is surely the best way one would be able to minimize the risk loss should in case anything happens to the centralized wallet exchange that the asset us being kept.
 

Bisolami

Very Familiar
Member
Sep 19, 2022
17,833
1,539
Dex
$0.000
Raw Dex
$0.078
I agree with you, to reduce the risk of losing your crypto, you need to divide your crypto storage into several crypto wallets and exchanges, so that all your crypto is not on one platform. This strategy is carried out especially if you only use a hot wallet.
A fried told me about it a few days ago and I think it really makes sense so that I will not lose all my money inside one wallet whenever something goes wrong with the wallet
 

Suba

Notable
Member
Nov 11, 2022
3,879
471
Dex
$0.000
Raw Dex
$1.585
A fried told me about it a few days ago and I think it really makes sense so that I will not lose all my money inside one wallet whenever something goes wrong with the wallet
We actually store crypto on the blockchain, a wallet is only a means to access the blockchain, the risk of losing all your crypto will occur if you lose access or private keys, when your mobile or desktop is damaged, or you are exposed to a phsing attack so that your private is leaked into the hands of hackers,
 

Rubz

Notable
Member
Sep 12, 2022
1,612
15
Dex
$0.000
Raw Dex
$0.008
One can minimize the risk of losing one's assets by; keeping your private keys very safe, also by using two factor authentication which can add extra security to one's account.
 


Write your reply...
Back
Top