What are the unspoken rules with cryptocurrency?


#1

the block chain has pre-set laws and protocols, and the governments can set the regulations, but what are the other adopted rules by crypto holders set by the people themselves? E.g , don’t share yer private key


#2

Never share your private key is of course #1.

But I’d want to take the security a bit further:

  • Never use a wallet that you’re not 100% sure of.
  • Keep the bulk of your balance in cold storage.
  • Never leave all your crypto holdings on an exchange - even a big one like Binance.
  • Store your wallet passwords and private keys in your own encrypted password vault.

The main thing is that you want to retain control of your private keys. Using an exchange means that they hold your keys, and they control your funds.

Be your own exchange, and keep it safe :slight_smile:


#3

Good advice. That recent Cryptopia hack has really spooked people.


#4

Don’t tell people how much crypto you own!