Most crypto losses don’t come from clever hacking. They come from small, avoidable mistakes: a leaked recovery phrase, a rushed click, the wrong address. These seven habits cover the ones that matter most.
1. Guard your recovery phrase
If you use a self-custody wallet, it gave you a recovery (or “seed”) phrase, usually 12 or 24 words. Whoever has those words controls your money.
- Write it on paper and keep it somewhere safe and private.
- Don’t take a photo of it, save it in your notes, or store it in the cloud.
- Never type it into a website, and never give it to anyone. No genuine support person will ever ask for it.
2. Turn on two-factor authentication
Add a second step to every account that holds or touches your crypto. Use an authenticator app rather than SMS where you can, because text messages can be intercepted if someone takes over your SIM card. Never share a one-time code (OTP) with anyone, even someone who says they are from support.
3. Use strong, different passwords
Reusing one password means a leak at one website can open all your accounts. Use a long, unique password for each account, and keep them in a password manager so you don’t have to remember them.
4. Check the address and the network, every time
Crypto transfers can’t be reversed. Before you send, check the address and the network. Copy and paste instead of typing, and compare the first and last characters of the address after you paste.
- For a large amount, send a small test first.
- Watch out for “address poisoning”: scammers send tiny transfers from addresses that look almost identical to ones you have used. Don’t copy an address from your transaction history without checking it.
Our guide on how to send USDT to someone explains networks step by step.
5. Slow down on links and messages
Most scams try to rush you. Fake support accounts, prize offers and “your account will be closed” messages all push you to click before you think.
- Type the website address yourself or use a bookmark, instead of tapping links in messages.
- Be careful when someone messages you first, even if they use a familiar name or logo.
- Promises of guaranteed profits or “double your money” are always a warning sign.
6. Be careful what you approve or sign
With some wallets and apps, connecting to a website or approving a transaction can give it permission to move your tokens. Only connect to sites you trust, read what you are approving, and remove old permissions you no longer use.
7. Keep your devices clean and your savings separate
- Keep your phone and apps updated, and only install apps from official stores.
- Don’t use public Wi-Fi for anything involving your wallet.
- Keep only what you need for everyday use in a wallet on your phone. For larger amounts you plan to hold, consider a hardware wallet, a small device that keeps your keys offline.
Quick answers
What is a seed phrase?
It is a list of words that works as the master key to your wallet. Anyone who has it can take everything in the wallet, so it must stay private and offline.
Do I need a hardware wallet?
Not for small amounts you use often. For larger amounts you plan to hold for a long time, it adds a strong layer of protection.
Is it safe to keep crypto on a platform?
It can be, if the platform is trustworthy and your account is well protected with a strong password and two-factor authentication. Only keep what you are comfortable having there.
Stay safe with VersusTrade
When you trade with us, a real person guides you in chat, so you can ask before you send anything. Start from the buttons on our website, check every address and network twice, and never share your password, codes or recovery phrase with anyone. You can also read our FAQ for more on staying safe.