What You Must Know Before Investing In Cryptocurrencies

Here are some of the things you absolutely need to know before you begin to make any transaction or investment

  • Understand the concept of your public and private keys
  • Understand the difference of having custody and not having custody of assets
  • Some people especially so-called purists will tell you to never have your money on an exchange or trust anyone even a reputable institution with your private keys. But some people want to have their assets managed for them. If you chose to have a company have custody of your assets make sure they are reputable, have impeccable security and also insurance.
  • Understand the whole concept of a digital distributed ledger
  • Understand the basic mechanics of any blockchain that you will be using and it’s advantages and disadvantages compared to other blockchains
  • Understand wallet addresses
  • Know how to track transactions
  • Know the different types of wallets such a paper wallet, hardware wallet, cold and hot storage
  • Know all the best practices on how to store private keys
  • Know how to use the different interfaces safely
  • Know best practices for using devices such as laptops or phones safely
  • Have a contingency plan in case an unfortunate event happens to you and you want to leave assets to someone

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FINXFLO - Trade Smarter

FINXFLO - Trade Smarter

FINXFLO is a crypto trading platform focused on security, strict regulatory standards, and deep liquidity across global markets. All via a single access point.