With so many attack vectors, including phishing, impersonation, and malware, even the most careful individual in crypto can slip up.

With that in mind, here are ten commandments that should always be memorized. Print them out, set them as your wallpaper, or jot them down—whatever helps you to recall them.

• Never, ever give your private key or seed phrase to anyone.
• Do not store private keys or seed phrases on your computer.
• Use a cold wallet to store significant amounts and a hot wallet for everyday shenanigans.
• Verify the links and apps you interact with. The best way to find the website is to use the project’s Twitter(X) page.
• Send a test transaction before sending significant amounts of money.
• Be mindful of where you send your funds and what information is necessary. For example, some blockchains require a memo alongside a wallet address.
• Periodically sign out of applications that you’ve given access to. This can be done through a software wallet’s interface. For EVM-based blockchains like Ethereum, use this tool to sign out of all applications automatically.
• Preferably, use a dedicated computer only for crypto to minimize the chance of getting malware. If not possible, avoid installing sketchy software.
• Team members will never DM You first.
• Never connect a device that holds Your crypto to public wi-fi networks.

What is a hot and cold wallet?

Consider interacting with crypto applications like playing GTA. Just as committing misbehavior in the game attracts more police attention, connecting your software wallets, such as Rabby or Metamask, to a crypto application increases the risk of losing your funds.

It’s essential to segregate long-term holdings from active trading positions using hot and cold wallets.

A hot wallet is a software wallet used daily for trading memecoins or engaging with new and untested DeFi protocols. Your funds are immediately lost if a malicious actor gains access to this wallet.

A cold wallet is mainly utilized for storing significant amounts and is accessed infrequently, usually only when asset transfers or sales are necessary. Using a cold wallet alongside a physical hardware device such as Ledger or Trezor is advisable, as this device necessitates your approval for each transaction and acts as a two-factor authentication tool.

Two of the most common scams in crypto

Phishing scam

Although simple, a victim seemingly falls prey to a phishing scam every day. This scam usually manifests as a malicious link or website pretending to be a popular project.

Because all crypto applications require a signing transaction before you can interact with them, malicious actors use this to their advantage. The second You sign this transaction, Your funds are gone.

On paper, avoiding this scam seems simple—do not connect your wallet to a malicious website or sign a transaction from a website you have not verified. In practice, however, it’s much harder to keep track of.

Since daily crypto operations involve having numerous tabs and windows open while searching the internet for new and exciting opportunities, user fatigue often leads to mistakes.

Phishing scams lurk everywhere, so here are the most common places to find them:

• Sponsored links on the Google search bar pop up before the actual site
• Ads promising an airdrop, giveaway, etc.
• Discord or Telegram groups

Social engineering

Another type of scam is social engineering, in which scammers pretend to be someone they’re not, usually in the form of someone from the project’s team or ‘’help desk’’.

Typically, scammers will answer a problem or question you ask in the official group chat or on Twitter. After that, they will ask you to hand over your seed phrase or private key, promising to solve the issue.

Remember one of our commandments- Never give out Your seed phrase or private key.

Another more sophisticated scam usually involves a person reaching out to you and offering a job or partnership with very lucrative pay. After striking up a friendly conversation and offering an interview, they will pressure You into downloading malicious software to compromise your funds.

The arena

The crypto market can be likened to the Wild West, where gunslingers freely roam and bounty hunters seek to capture them. The challenge is that there are only a handful of bounty hunters in crypto, and their resources are limited.

When venturing into this arena, you must be highly vigilant and discerning about the individuals you encounter and the trust you place in them.

It's essential to rely on common sense and be cautious of deals that appear too good to be true, as they often are.