The Mistakes That Make You LOSE Your Cryptocurrencies

[00:02] most common crypto security mistakes that leave you with nothing. I'm not going to talk to you about the basics. Save your funds, verify addresses, and use wallets. You already know that. I'm going to talk to you about things that you can only learn over

[00:15] time, with experience, and sometimes by losing money. A while back I made one of these mistakes and lost everything I had in that wallet. We'll start with the least delicate and move on to the most dangerous.

[00:30] Let's begin. One of the most common mistakes in Crypto Security is using your personal email for everything. The same email you use for social media, shopping, and subscriptions. You also use it for currency exchange, wallets, and

[00:43] financial platforms. When someone compromises your email, they not only have access to your inbox, they can also try to reset your email passwords and passwords for crypto platforms. The

[00:56] solution is to use an email address dedicated exclusively to cryptocurrencies. That email is not used for anything else. No social media or weird registrations, just for crypto. I personally have several email addresses: one for my

[01:11] buy something at the store, one for social media, one for cryptocurrencies, and another for financial platforms. That way, if something goes wrong, the damage is contained and doesn't spread to my entire digital ecosystem.

[01:25] Another very common mistake is managing your finances and cryptocurrencies from your personal cell phone. The cell phone you take to the street, to work, to the gym, everywhere is the same one where you keep your valuables. That device

[01:38] is constantly exposed. It can get lost, it can be stolen, it can get infected with Melware, or it can simply fall into the wrong hands. Here in Mexico, express kidnapping is common, where they don't release you until they empty your

[01:51] financial accounts. The solution is to use a device dedicated solely to finance and crypto. A cell phone that stays at home well protected and that you don't use for social networks or browsing the internet. That phone you see here

[02:07] is the one I carry with me on the street, but on this device I only manage or have enough money to survive for a couple of days. With a dedicated device, you greatly reduce physical risk and separate your finances

[02:21] from your daily life. Another very serious and common mistake in crypto is trusting messages that claim to be from a cryptocurrency platform. Emails, text messages, Telegram, WhatsApp, or even phone calls claiming to be

[02:36] from platform support are scams. Some people fall for it because the message sounds urgent, professional, and very convincing. When someone impersonates support staff, they almost always have one of two

[02:48] objectives. The first is that you yourself reveal sensitive information, access, passwords, security codes or even the private keys of your wallets. The second is to lead you to a fake link so that you install malware

[03:03] on your devices without realizing it. In both cases, the problem is not a direct hack, but rather that the user ends up opening the door voluntarily. As for the solution, the rule is simple. Support doesn't come looking for you, you come

[03:17] looking for support. If you need help, always do so from the official app or website. Never do it from links that are sent to you by message, email or calls. To give you an example, I frequently

[03:30] receive messages supposedly coming from treso. For example, here they are supposedly telling me that they detected a recovery attempt in the cloud and inviting me to visit a link, which I obviously am not going to do when I receive

[03:43] this type of email. I know they're scams, but if I want to be sure, I check where the email is coming from. For example, I know that an official Tresor email address is [email protected]. And as you can see, this email isn't even

[03:57] from Tressor. Even if the mail comes from Trésor, I wouldn't trust it. One thing I do is check that email or update on the company's official social media channels, and even if I find that it is indeed an update there, I don't

[04:10] social networks can also be compromised. When I want to portfolio, I always do it from the official website or from the application by connecting my wallet. In the world of cri, urgency and fear never end well.

[04:26] Another very serious mistake is copying addresses from your wallet history. Many times you have just sent funds to a wallet. Then you log into your wallet and then go to your

[04:38] wallet history. You see one of the latest deposits that arrived. So you log in, copy the address where you received the money, go to send funds you have there, enter the address you copied from your

[04:50] recent history and click send, but for some reason the money never arrives at its destination. This happens because of something known as trap deposits or das Attacks. What these scammers do is send you minimal amounts of

[05:04] crypto like the ones you see here. These deposits are in cents or ridiculously small amounts. The goal of these scammers is not to steal from you directly with these types of deposits, but to put their address on your

[05:18] recent history. If you ever carelessly go to your recent history and for some reason copy the address of your last deposits, instead of sending the money to yourself, you will be sending that money to the scammer. The solution is very

[05:31] simple, but practical. I never copied addresses from your wallets' recent history. Always copy the address directly from the exchange or wallet you want to send to. And if you see several

[05:44] small deposits like these that I have here, just ignore them, don't move them, don't interact with them, just leave them there . Before continuing with the tell you about our sponsor, You. Holdler. This is a crypto platform

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[06:52] before creating your account, you will receive 50 free sparks. With them you can view more blocks and earn more Bitcoin from day one. Let's continue. The next very common mistake is using a single wallet for everything. The same wallet you

[07:05] connect to new sites, test protocols, farm airdrops, and sign contracts with is the same one where you keep your assets. It might seem convenient to have only one wallet, but that's where risks that shouldn't be

[07:19] mixed come into play. Every time you connect a wallet to new sites or sign contracts, you are increasing the level of risk. If you grant permissions to a malicious website or sign something you don't understand, everything in that

[07:33] understand, everything in that wallet is exposed. The solution is to have at least two different wallets, each with its own clearly defined purpose. You can have a wallet for higher-risk things, such as a

[07:47] wallet like MetaMask. This is the wallet I use to farm airdrops, connect to defi sites, and do just about anything else . Which, by the way, I made a big mistake with in this wallet. A while ago , when the NFT craze was at its peak

[08:00] , I ended up signing a contract, which I didn't fully understand, and they ended up emptying this wallet of mine. Luckily, I had already corrected this error before and didn't lose that much money. Well, I lost something like 100, but I could have

[08:14] lost more. And that's why in this wallet I only manage enough capital to interact with these protocols. I also use a wallet like the one I showed you a while ago, the Exodus.

[08:27] I use this wallet to make and receive payments. Money that I am constantly moving. But to safeguard your assets, serious amounts of money, I recommend that you use a physical wallet, a cold wallet,

[08:40] something like these devices that I have in my hands, which I'm going to tell you about in a moment. This way, if something goes wrong with my everyday wallet, such as MetaMas or my wallet, Exodus, the damage is limited

[08:52] only to what I have in these two wallets. And speaking of wallets, another common mistake when you already have a considerable amount of money in crypto is to keep all your assets in a single wallet. Even if

[09:05] that wallet is physical or you hardly ever use it, it's still a single point of failure. The problem with concentrating everything in a single wallet is that everything depends on nothing going wrong. A human error, a loss,

[09:19] physical damage, or an accident can affect everything at the same time. It's not that it's common, it's very unlikely, but when it happens the impact is total. The solution is to diversify risk, not just diversify assets. That

[09:34] means distributing your funds across more than one wallet. Of course, this is provided you have considerable capital. For example, I personally keep my assets in three physical wallets. The Tresor, which is this device

[09:48] you see in my hands, I use it solely to store Bitcoin. The Layer that comes in this little box, and is this device that you see in my hands, I use it to store altcoins, other cryptocurrencies that are not Bitcoin.

[10:01] little box, which are those cards you see in my hands, I also use it to store Bitcoin and other assets. These devices aren't free, they have a cost, but hey, if you have some capital I think it's worth

[10:14] getting at least one of them. For example, the 3or One, which is the one I have, costs about $60. And with this device, you simply download an application to your computer and use it from there with

[10:26] a cable. The Ledger Nano X. This device is also available for used via Bluetooth and costs 99. Tangen, which consists of three cards, is an

[10:38] application that you download and use exclusively from your mobile device. Those cards are worth around $69. And on those platforms I have a discount that might be useful for you, which I'll leave in the description so you can get it.

[10:51] For example, the Tangem for $55. If you're interested in any of these wallets, I'll description. A wallet with a lot of money, even if it's a physical wallet, is a single point of failure, and if something goes wrong, you can lose everything. That's why,

[11:06] if you already manage a significant portfolio, you can get one or more of these devices. Another very common mistake is storing everything in the same place. Some people keep backups, wallets,

[11:20] physical devices, all in the same place. This may seem safe and practical, but in reality you are concentrating all the risk in a single point. If someone physically gains access to that place, they have everything they need to rob you. A robbery, an

[11:35] incident, a flood, or any unforeseen event can mean total loss. It doesn't matter how good your digital security is here, the problem is physical. The solution here is a separate location. The seed phrase in

[11:50] one place and the devices in another, and if possible, don't even have them in the same house. In my case, here at home, I only have the physical devices, but you can't do absolutely anything with them. The

[12:04] seed coins for these wallets are not here in my house, they are stored in a separate location. In security, physically separating the pieces is what prevents irreversible losses. You have no idea how many people I've had to

[12:18] look at on Twitter lately who have lost hundreds or thousands of millions simply by falling into some of these mistakes. These are things that aren't talked about much, and they can happen to anyone. So from my point of

[12:31] view it's best to take precautions. If you enjoyed this video, I would greatly appreciate it if you shared it with someone who might need it. And if you'd like to continue learning, I invite you to join the Seven Incomes community. You

[12:43] can follow us on Instagram for short educational content, join our Telegram channel, or become part of our new WhatsApp group where you can continue learning and interact with other investors. I'll leave you the

[12:56] the other links mentioned in the description of this video. And you'll also see a couple of related videos here . Here I'll show you everything you need to here I'm going to talk about one of the wallets we discussed in this video,

[13:09] the Tangen Wallet. I'm going to say goodbye here for today.