Crypto trading has been in the foreground lately. It was ecstatic to start a business that played to our strengths and, more importantly, made all our impossible dreams look plausible. However, while we interacted with our audiences and customers, I realized that even though they were interested in jumping into this new attractive world, there were many conclusions everywhere. I saw worry and confusion while investing their hard-earned money. And thus, before our customers or even potential customers were ready to take the leap, we wanted to make sure they were following a safety protocol to keep their money safe. We don’t just want our community to fall prey to phishing or frauds; we also want them to be well-aware of the crypto world. So, here are a few tips and tricks I want our community to follow meticulously before starting their crypto journey:
Select a secure and trustable exchange platform.
India is seeing growth in the crypto world, and honestly, it’s awe-inspiring. But it’s crucial to understand its risk and the risk management. So selecting a trustable exchange platform should be the first thing on your list before starting your crypto journey. The platform must provide security, transparency, and immediate customer support, just like the VIPS Finstock. Look for these basic things in an exchange platform, and we promise to provide far more than that.
Assess your risk appetite and finances smartly.
Anywhere your finances come into play, knowing the pros and cons will put you in a higher place. Without making yourself well-versed, one is simply inviting unknown troubles for themselves. The best policy to adapt here is DYOR (Do Your Own Research).
Strong Passwords and 2FA
You won’t be able to enjoy your investment journey if it isn’t secure. So, start by setting a strong password, which is a combination of alphabets, characters, and numbers. Also, do not write them down anywhere or give them to anyone who asks for it. Instead, treasure it like you would treasure your favorite piece of jewelry or a brand new car.
2FA is another blessing in the digital world. Since one factor is easy to decode and we are in 2022, 2FA is an absolute must. Do not proceed with your transactions until you’ve set up your two-factor authentication.
Awareness of investing in crypto assets
Yes, crypto is and will change the world. It brings tons of advantages with it. However, to make yourself well-aware and knowledgeable in the field is most important, to say the least. Knowing and understanding the trends instead of simply following them will help you enjoy the benefits even more.
Steer Clear of Phishing emails
Be careful and vigilant of the emails asking you for your credentials or personal information or asking you to redirect to an external link. Trust the emails that come from your exchange platform ONLY and never share your passwords with anyone.
Unbiased Analysis Before Every Transaction
Even if the closest ones suggest you make a particular transaction, make sure you make your own analysis. The key is to make predictions by considering all the data points. While checking the data, the platform you are relying on must also present it to you unbiasedly.
At VIPS Finstock, we all believe in creating an environment where our community feels comfortable, secure, and insightful. We aim to cover all these points and so much more. The VIPS Finstock is a one-stop destination for all our communities’ problems and requirements, where they can buy, sell, stake, or hold their precious crypto assets. I strongly believe in “to survive it to adapt,” and that’s what we incorporate into our business; we adapt to the changes and mold with our communities’ requirements. It’s a platform made in India and made for India because we want #cryptoforIndia.