Volatility is not the biggest threat to your cryptocurrency investment, but security of your invested funds is. Many of us still keep our funds on exchanges although, large part of fast learners have shifted to hardware wallets like Ledger Nano.
As it’s next to impossible to set up your own individual wallets, the most suitable option is as above, though it is definitely not one of the best practices.
The biggest threat here compared to shutting down these top cryptocurrencies exchanges is getting hacked as a result of bad security systems and personal negligence.
Cyber criminals have conducted stealing of more than $225 million worth of Etherum in 2017 only by the use of Website Phishing according to Chainanlysis. This spoof website looks similar to the original website.
There’s a 1 in 10 chance that you’ll end up being the victim of the above kind of theft while being involved in ICOs ,according to Bloomberg’s stunning revelation.
So it’s very important that we all are very attentive and careful while we are investing in crypto and cybersecurity should be made our first priority.
One of the most powerful ways in cybersecurity is 2FA(Two Factor Authentication) which we have all been negligent of, should be carried out.