How to trade cryptocurrencies safely?

Cryptocurrency trading is all the rage right now.

All controversy aside, the truth is that cryptocurrencies have proven to be very profitable for many investors. That is why there are specialized brokers, such as Margex, where you can use them to trade with them, and even obtain leverage in cryptocurrencies.

However, before investing, you need to understand how to operate safely, since, although the blockchain is extremely secure, it is easy to fall for scams and all kinds of tricks that usually appear on the internet and that take the most unwary off guard.

5 tips to trade cryptocurrencies safely

In this article, we tell you 5 tips to keep in mind before trading cryptocurrencies.

Let’s see what they are!

Do not click on links sent by social networks or email

Not even if you trust the source, as it is likely that someone has managed to steal your contact’s phone and is sending you to a phishing page via a fraudulent link.

These types of cheats used to be easier to detect, but the techniques have been greatly refined and nowadays it can be impossible to distinguish between a fraudulent website and the official one, at least not without looking closely.

In this way, when in doubt, it is better not to follow these links.

Use certified brokers

They must be regulated in countries with strong legislation or by trusted entities, their code must appear in the broker’s footer and, when redirecting, you must be able to consult the code of this broker.

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It is very common that you can fall into scams if you are not careful with this detail.

Also, make sure to check the internet for opinions about the broker in question, so that you can have clear ideas about it.

Base your trades on your own conclusions

Trading based on the opinions of others is very risky, since that person may be wrong. Even if you are an expert, remember that the markets are very volatile, and cryptocurrencies are especially unpredictable.

Always do your own in-depth analysis and never trust what others tell you too much. You can use them to understand certain movements or to learn new strategies, but the responsibility for your money should be yours alone.

Save your cryptos in your Wallet and in a trezor

Keep in mind that most exchanges, despite being safe, can fail. In other words, by having your cryptocurrencies in a Wallet that is not strictly under your control, it is possible that someone who gets hold of your email and password could steal all of them.

In this way, always have your cryptos in a safe place.

Tracers are devices in which you can store and encrypt them within the blockchain chain with your private key. In this way, no one will be able to access them and they will be safe.

Store your passwords somewhere off the network

By this we mean a place where no one can remotely access and steal them, for example, a computer connected to the internet.

The best thing in this case is to play the old-fashioned way and write them down in an agenda that you will not take to the street, this is the best way to ensure that your passwords do not fall into the wrong hands.

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