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The decentralized cryptocurrency model largely transfers autonomy and power to users, which is why many users are drawn to it. However, with that power comes the responsibility of maintaining the privacy of your security keys. Effectively, by having complete ownership of your funds, you become solely responsible for their security.
As more crypto hacks happen periodically, it's common for traders and investors alike to ask how to keep crypto safe. This article will explore various best practices for practical user security.
Key Takeaways:
Different crypto wallets serve different purposes — from hardware wallets for long-term crypto storage to hot wallets and exchange wallets for daily transactions, and web3 wallets for decentralized app interoperability.
Always stay informed about the latest scams and anti-phishing practices, and practice consistent, uncomplicated security habits to secure your wallets.