Here’s how to make your computer safe for crypto trading, crypto trading.
Crypto trading
“the first step,” he told decrypt, is not dousing your computer with bleach, but rather ensuring that “your existing pcs and networks don’t have any existing infections that could be used for logging keystrokes, capturing passwords, or downloading further malware infections.” the issue, said lopatin, is that crypto exchanges hold custody over your coins, if you’re storing your funds on an exchange, you’re trusting that the exchange won’t get hacked or run away with your funds.
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But since they sometimes do, “it is not recommended to store cryptocurrency on exchange wallets,” advised lopatin. ”delegating responsibility for storing cryptocurrencies to exchanges is one of the most common mistakes made by beginner crypto traders,” he said. To keep your bitcoin safe and secure, it's best to use your own bitcoin wallet , whether that's a software, mobile or hardware wallet.
Here’s how to make your computer safe for crypto trading
The crypto space is full of risks as well as rewards. Here's the experts' advice on making sure your computer is prepped for safe crypto trading.
Crypto traders need to secure their computer against attack. Image: shutterstock
In brief
- If you're thinking of trading cryptocurrency, you should consider an audit of your cyber-security.
- First-time crypto traders should protect their private key and transfer address.
- You should also take steps to protect against ransomware attacks and phishing attacks.
Sure, bitcoin trading sounds fun, but trading cryptocurrency comes with a whole host of cyber-security risks that could prove just as disastrous as a price crash. Equally as important as stacking sats is ensuring that your computer is protected against hackers, and that you aren’t vulnerable to phishing attacks, ransomware bots or scams.
So, how to gear up for your adventure down the digital yellow brick road? Decrypt spoke to security experts to identify the chinks in your virtual armor and how to prepare for the worst.
What’s at risk?
“there are two primary things that first-time crypto traders should protect: a private key and transfer address. If a crypto trader can keep these two basic things safe, the possibility of becoming a victim of scammers reduces significantly,” evgeny lopatin, an anti-malware research security expert at kaspersky, told decrypt.
A private key is a 64-character key that's used to sign crypto transactions. And the transfer address is analogous to an email address that can send or receive bitcoin.
There’s more to keep an eye on, too. Among other things, you also need to protect your seed phrase, a string of (usually 12 or 24) words that functions as a backup to your private key, as well as any login details that grant you access to crypto exchanges or wallets. Also at risk are any email accounts, cloud storage services, phones or computers in which you’ve stashed any seed phrases, passwords or private keys.
First things first: practice “cyber-hygiene”
Before eying up bitcoin, ian porteous, a director of security engineering at cybersecurity firm check point, recommends that crypto traders practise good “cyber-hygiene.”
“the first step,” he told decrypt, is not dousing your computer with bleach, but rather ensuring that “your existing pcs and networks don’t have any existing infections that could be used for logging keystrokes, capturing passwords, or downloading further malware infections.”
Hackers often go for the low-hanging fruit, he said. Instead of targeting individuals, many hackers “create large networks of infected pcs to maximise their chances of being able to steal credentials and data: for them, it’s just a numbers game.”
How to avoid the meat grinder? “use a reputable anti-malware package, ensure it is running the latest malware signature updates, and do a full scan of all your machines,” he said. Any of the popular home anti-malware packages, such as (porteous’s) zonealarm, malwarebytes and AVG, all regularly update to check for the latest virus signatures. Moreover, consider using a browser extension that can block zero-day malware downloads and phishing sites, said porteous.
Finally, porteous advises that you review all of the passwords you use for important accounts, like your bank accounts, crypto trading accounts, and wi-fi passwords, to make sure you don’t re-use the same password. Use two-factor authentication where possible, since “it minimizes the risk of hackers being able to access your account even if they have the password,” he said.
How to protect against crypto scams and hacks
Ah, but hackers target those very things, and they’ve spent decades perfecting special tricks to con even the most cyber-hygenic traders. As soon as you expose sensitive information to hackers, it’s game over.
There are two really obvious, common attacks. The first threat is ransomware attacks, which encrypt your PC or your cryptocurrency wallet until you pay a ransom—usually in crypto. “in this case, you will lose access to your wallet while fraudsters will receive all its data,” said lopatin.
In october 2020, research from check point showed that the number of ransomware attacks increased by 50% in july, august, and september of 2020 compared to the first half of the year. In the US, the number of ransomware attacks increased by 98% in the same time frame. And phishing email volumes have spiked recently, too. In november 2020, black friday triggered a 13-fold increase in sales and discount-related phishing attacks, check point found.
The majority of ransomware attacks rely on the victim clicking a link or opening an attachment, said porteous. “so, it’s wise to be wary of emails with attachments that you weren’t expecting, even if you recognise the sender,” said porteous. If in doubt, trust the anti-malware program.
To avoid ransomware attacks completely, lopatin recommends the use of hardware wallets. A hardware wallet is a cryptocurrency wallet that isn’t connected to the internet and stores your private key offline. They are “almost impossible to hack,” he said.
The second type of threat is phishing attacks. Phishers cast a variety of different nets, but lopatin said that one of the most popular targets are crypto exchanges or wallets. Recently, hardware wallet manufacturer ledger was the victim of a hack that exposed the personal details of a million customers, leaving them vulnerable to phishing attacks designed to steal their seed phrase.
Phishers trick victims into clicking on links that promise to bring them to an exchange or wallet, whereas in reality it’s a fake version of the website created by the hacker. These websites need not be complicated: a log-in screen may be the extent of the site, but even that’s enough to con some people into entering sensitive information such as passwords or seed phrases.
�� WARNING: STAY VIGILANT OF ONGOING PHISHING SCAMS! ��
Remember that ledger will never ask for your 24-word recovery phrase or PIN. Never share it!
Check out this page to verify if the communication you have received is a scam: https://t.Co/9cri0ake6v#stopthescammers
Much the same precautions for avoiding ransomware attacks also apply to phishing attacks. Lopatin advises to “to double-check the authenticity of visited websites.” he said, “we recommend that you are skeptical about any generous offers and promotions.” unsure? Bookmark the verified link to your crypto exchange or wallet of choice in your browser. Lopatin recommends using “trusted wallets with a good reputation. If you’ve received an email about new, appealing cryptocurrency wallets, always remember that if something looks way too good to be true, it is most likely fake.”
Ting-fang yen, director of research at datavisor, told decrypt that crypto traders should stay away from “non-reputable third-party apps [and] services, and avoid sharing account information and private keys,” since the crypto industry is largely unregulated and full of bad actors. “ideally, keep your wallet offline when not in use, such as in a disconnected external hard drive or other forms of offline storage,” he said.
Lopatin points out that crypto exchanges are frequently attacked. Just this winter, hackers stole $281 million from kucoin. Even binance, one of the largest crypto exchanges, was hacked for $40 million in 2019. Lots of these exchanges have insurance policies in case of a hack, but many more don’t, and there’s little you can do to get your crypto back if the exchange won’t reimburse you for lost funds.
In response to the recent kucoin security incident, kucoin global CEO johnny lyu @lyu_johnny hosted a livestream at 12:30 (UTC+8) on september 26, 2020, and announced more updates regarding the incident.
The issue, said lopatin, is that crypto exchanges hold custody over your coins; if you’re storing your funds on an exchange, you’re trusting that the exchange won’t get hacked or run away with your funds. But since they sometimes do, “it is not recommended to store cryptocurrency on exchange wallets,” advised lopatin. ”delegating responsibility for storing cryptocurrencies to exchanges is one of the most common mistakes made by beginner crypto traders,” he said. To keep your bitcoin safe and secure, it's best to use your own bitcoin wallet , whether that's a software, mobile or hardware wallet.
Lastly, lopatin advises “double-checking the departure address” when sending cryptocurrency. Here, lopatin’s guidance is straightforward. If you don’t recognize the address to which you’re wiring cryptocurrency, you could send crypto to the wrong person. And in the wild west of crypto, there aren’t any second chances.
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Among the numerous websites providing bitcoin exchange services, the positive reputation of CEX.IO makes it worth the trust of the users all over the world. With the customer base of over 3,000,000, the platform can be recognized as the one that can be relied on. Starting your bitcoin trading on a platform with substantial history, you will benefit from a deep understanding of the market and customersвђ™ needs. We are constantly working on enhancing the security, ensuring the high level of customer support, and providing our users with new opportunities for trading on the bitcoin market. CEX.IO is regularly considering the addition of new coins, which was not so long the case with dash, zcash, and bitcoin cash. Still, every cryptocurrency has to pass a thorough check to be listed. Our due diligence and concerns about the quality of the service yield results. Now, we are moving forward to achieve the status of the best cryptocurrency exchange.
Best cryptocurrency exchange: what does it mean for us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice. 1. Service safety and security. It is critical to ensure that your data will not be leaked to any other parties. Thus, the availability of certificates, like the PCI DSS, serves as the proof of serviceвђ™s safety. Besides, the regulation of exchanges is also important. For example, CEX.IO.
- Is officially registered in the UK;
- Has a money services business status in fincen;
- Complies with the legal requirements of the countries where it functions.
Cryptocurrency trading volumes hit record $68.3 billion following bitcoin rally, research shows
Bitcoin hit a record high $34,800 (roughly rs. 25 lakhs) on sunday.

Bitcoin's record high came less than three weeks after it crossed $20,000 (roughly rs. 14.6 lakhs)
- Ethereum also on monday hit its highest level since january 2018
- World's biggest cryptocurrency more than quadrupled in price last year
- Bitcoin's advance reflects expectations it will become mainstream payment
Trading volumes on major cryptocurrency exchanges hit a daily record on monday of over $68 billion (roughly rs. 4,97,200 crores), research showed, highlighting the trading frenzy that has accompanied bitcoin's charge to an all-time high.
Bitcoin hit a record high $34,800 (roughly rs. 25.4 lakhs) on sunday, building on a 2020 rally that saw it more than quadruple as bigger US investors jumped into the market. It then fell sharply on monday amid volatility in highly leveraged futures markets, before recovering losses.
The second-biggest cryptocurrency, ethereum, which tends to trade in tandem with bitcoin, also on monday hit its highest level since january 2018, touching $1,170 (roughly rs. 85,600).
Overall daily trading volumes in cryptocurrencies hit $68.3 billion (roughly rs. 4,99,600 crores), the data from UK research firm cryptocompare showed on tuesday. Daily volumes had averaged $13.1 billion (roughly rs. 95,800 crores) in 2020, the data showed.
Bitcoin's record high came less than three weeks after it crossed $20,000 (roughly rs. 14.6 lakhs) for the first time on december 16.
Fuelling bitcoin's rally has been the perception it can act as a hedge against the risk of inflation as governments and central banks turn on the stimulus taps to counter the COVID-19 pandemic. Its potential for fast gains also attracted demand.
Crypto trading volumes regularly spike during periods of extreme price swings, highlighting the central role for speculative traders in digital currency trading.
What will be the most exciting tech launch of 2021? We discussed this on orbital, our weekly technology podcast, which you can subscribe to via apple podcasts, google podcasts, or RSS, download the episode, or just hit the play button below.
South korean government to start taxing crypto trading profits in 2022

The south korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers.
New rules impose 20% tax on crypto profits
Per asia today, the legislative notice details that the amendment will be enacted in february, and profits from buying and selling cryptos in south korea will be taxed at 20%. However, the rule is applicable only to crypto holders with annual income of over 2.5 million won ($2,300).
The ministry of economy and finance said the enforcement decree is scheduled to be promulgated after meetings with the central government’s cabinet. The amendment is being applied to the country’s existing 2020 revised tax rules.
Although it will be enacted in the next month, the legislative notice clarifies that the new rule will start applying in 2022, according to government documents. The amendment also covers new tax rules for stock transactions.
In fact, transactions of listed shares will also be part of the 20% taxation rules for profits of over 50 million won annually, which is substantially lower than the one imposed on crypto gains. Stocks transactions will be taxed at 25% for annual profits of over 300 million won.
Korean government kept delaying crypto taxation plan
Reports of the south korean government delaying the launch of a new tax framework for crypto profits made headlines several times in 2020. In november, the national assembly asked to delay the process, which was originally set to take place in october 2021. In december, the planning and finance committee of the national assembly announced that it will postpone the new tax rule until 2022.
Moreover, the korea blockchain association requested on oct. 14, 2020, that the regulators postpone the 20% crypto tax plan until 2023. The group argued that local crypto firms need “a reasonable period” of time to comply with the new rules.
What do you think about south korea’s new crypto tax plan? Let us know in the comments section below.
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Key words
Mark cuban says recent crypto trading is ‘exactly like the internet stock bubble’
Weston blasi
Billionaire mark cuban thinks bitcoin can ‘survive and thrive’
Mark cuban.
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Billionaire mark cuban said that recent trading of bitcoin BTCUSD, -14.39% and other cryptocurrencies reminds him of the internet stock bubble of the late 1990s.
“ watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. ”
Cryptocurrencies have been on a meteoric rise in recent months, as the market cap of bitcoin and other cryptos topped $1 trillion last week, according to coindesk.
Bitcoin, which has risen nearly 300% in the past 12 months, was mentioned by cuban as an equity that could survive a potential bubble bursting among cryptocurrencies — similar to how companies like amazon AMZN, -1.66% and ebay EBAY, -0.89% survived during the internet stock bubble.
The internet stock bubble, also known as the dot-com bubble, saw U.S. Internet-based company valuations grow exponentially in the 1990s before entering a bear market in the early 2000s. At that time, many dot-com stocks plummeted and the technology-dominated NASDAQ COMP, -0.81% crashed.
Cuban sold his company broadcast.Com to yahoo at the height of the dot-com bubble in a deal valuing the company at over $5 billion.
Cuban’s comments come as the U.K.’s financial regulator issued a warning about the rise of bitcoin and other cryptocurrencies, saying people should “prepare to lose all your money.”
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Scott berg of T. Rowe price has been successful following a 'durable quality growth' strategy.
FCA ban on retail crypto derivatives trading will be in full effect today
The financial conduct authority (FCA) ban on crypto products will officially be in full effect today.В the authorities had earlier announced the ban around october last year, stating that crypto-based products were not suited for retail customers because they lack a reliable valuation, are prone to price volatility, are known to be prevalent for crime, as well as the fact that retail customers lack proper understanding for such products.
FCA: this decision is to protect customers
According to the FCA, customers were prone to suffering from unexpected losses from these crypto products due to their lack of knowledge.
The ban by the authorities covers the sale, marketing, and distribution of crypto derivatives like futures and options too. Moreover, the FCA noted that any firm caught making sales of such products after the ban would be labeled as a scam and would be sanctioned appropriately.
The acting executive director at FCA, sheldon mills, noted that the outright ban was needed as a means of protecting the users. According to him, the ban reflects the view of the authorities on how they feel the products are harmful to their retail customers.
Crypto proponents took jabs at FCA
The FCA’s decision to ban crypto derivates in the country received a lot of criticism across the industry.
Jason brown of komodo derided the UK for not getting its decision across the board with authorities in the US, stating:
“when the ban was passed by the UK government in october, there was no coordination with officials in the US, EU, or any other regions around the world.”
He went on to add that the authorities in the US had already been regulating the derivatives market for both retail and professional users for the past three years now. And that blockchain regulations need to be consistent “across jurisdictions”.
Dermot oвђ™riordan of eden block had opined that the authorities’ inability to properly regulate the industry is likely the reason why they chose the easy path, which is an outright ban.
“FCA has chosen to abdicate rather than lead.”
Dermot went on to note that the retail customers the FCA are trying to protect could still move toward platforms that were unregulated, thereby, leaving the authorities’ decision looking all the more wrong.
However, the FCA predicts that their decision is necessary for the greater good of retail customers, as it would save them over $68 million thanks to the ban.
So, let's see, what we have: the crypto space is full of risks as well as rewards. Here's how to make sure your computer is prepped for safe crypto trading. At crypto trading
Contents
- Top forex bonus list
- Here’s how to make your computer safe for crypto trading
- The crypto space is full of risks as well as rewards. Here's the experts' advice on making sure...
- What’s at risk?
- First things first: practice “cyber-hygiene”
- How to protect against crypto scams and hacks
- Discover HOW to invest & trade cryptocurrencies
- Take control
- Free cryptocurrency course
- Learning crypto courses
- Get ALL our courses here
- Learning crypto premium
- We are being serious.
- £10/month
- Try for 7 days
- What our students are saying
- Crypto trading
- Cheaper GBP deposits HOT
- Margin trading
- CEX.IO staking
- Buy crypto with a card
- Best cryptocurrency exchange: what does it mean for us?
- About traders of crytpo
- Crypto trading
- Cheaper GBP deposits HOT
- Margin trading
- CEX.IO staking
- Buy crypto with a card
- Best cryptocurrency exchange: what does it mean for us?
- Cryptocurrency trading volumes hit record $68.3 billion following bitcoin rally, research shows
- Bitcoin hit a record high $34,800 (roughly rs. 25 lakhs) on sunday.
- South korean government to start taxing crypto trading profits in 2022
- New rules impose 20% tax on crypto profits
- Korean government kept delaying crypto taxation plan
- Marketwatch site logo A link that brings you back to the homepage.
- Key words
- Mark cuban says recent crypto trading is ‘exactly like the internet stock bubble’
- Billionaire mark cuban thinks bitcoin can ‘survive and thrive’
- Mark cuban.
- Referenced symbols
- Read next
- Read next
- This fund manager says amazon and other large-cap tech companies will make lots of money for...
- FCA ban on retail crypto derivatives trading will be in full effect today
- FCA: this decision is to protect customers
- Crypto proponents took jabs at FCA
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