Cryptocurrency Basics: A Beginner’s Guide to Digital Currency — Part 5: Preparing to Trade Cryptocurrency Safely | Posted by Freia Skogstad | Coins | February 2024

Welcome back to “Cryptography Basics”! We covered the blockchain basics along with the required security measures, visualized the blockchain as a city, and clearly explained public addresses, private keys, seed phrases, and wallets. Now we set up a secure environment for cryptocurrency trading, which is the basic step for safe and efficient transactions in the cryptocurrency world.

It is important to establish security settings before engaging in cryptocurrency trading.

1. Dedicated computer or user profile: Minimize online threats by using a separate computer for cryptocurrency transactions. If not possible, dedicated user profile An existing computer used solely for cryptographic activities can be used as an alternative. Remember, this isn’t as secure as a separate device, but it’s a step toward increased security.
2. Cryptocurrency-specific email address: To minimize the risk of phishing and keep your cryptocurrency transactions separate from your personal or work emails, we recommend setting up a new email address for your cryptocurrency transactions. I use and trust Proton Mail, which offers strong privacy features. It’s worth noting that Proton Mail includes a free plan, making it a great option for those just getting started with cryptocurrency.
3. Use a VPN: A VPN is essential for online privacy and security when trading cryptocurrency. Encrypt your connection and hide your IP address. With strong encryption and a free plan, Proton VPN is a good choice.
4. No public Wi-Fi: Avoid using public Wi-Fi for cryptocurrency trading due to security vulnerabilities. Always use a secure, private network.
5. No Bluetooth: Avoid using Bluetooth for cryptocurrency transactions to avoid the risk of data interception. A wired connection provides better security.