If you own or are thinking of buying DGTX, you’ll probably also know that it’s vital to store your funds safely. With intelligence agencies such as CipherTrace estimating over $3 billion being stolen from cryptocurrency exchanges in 2019 so far, the importance of storing your DGTX safely cannot be overlooked. Plenty of people have fallen victim to a cryptocurrency hack; make sure it isn’t you.
Storing Your DGTX Safely
While it’s undoubtedly more convenient to keep your DGTX on an exchange, remember the above statistic. It’s fine to keep small amounts in a more convenient hot wallet, but you should never store large amounts of any crypto asset on an exchange. Even Binance suffered a hack earlier this year. The exchange compensated all the victims but that most certainly isn’t the norm.
Cryptocurrency exchanges will always be extremely attractive targets for hackers. This is why Digitex Futures has a long-term plan to provide our users with non-custodial accounts. That means that they won’t have to trust our exchange with their money and we won’t be attractive to hackers.
In the meantime, however, the best way to keep your DGTX safe is by using cold storage. This means investing in a hardware wallet such as a Trezor, Ledger, or KeepKey. MyEtherWallet using MetaMask is also a solid solution as long as you ensure not to fall for any phishing attempts.
Using Cold Storage for Your DGTX
A trusted way of preventing theft and storing your DGTX safely is using an offline cold storage wallet (otherwise known as a hardware wallet). There are now plenty to choose from for all budgets and tastes. Trezor has a color touch screen that may appeal to more people than Ledger’s clumsy buttons. But the latest Ledger Nano X comes complete with Bluetooth functionality.
This means that’s much easier to use on the go as you can sync it up with your smartphone with no need for a computer. Either device you choose, you’ll need to have a little patience. Setting up a hardware wallet can be an onerous task but it’s worth taking the time. You’ll need to create a backup seed and a pin code and be sure to keep them somewhere safe and separate from your wallet.
Never share your private keys with anyone as these are used for unlocking and approving transactions. If you store your DGTX safely in a hardware wallet and keep your private keys secure, your crypto will also stay secure and away from opportune hackers.
If your private keys are offline and not exposed to the internet, they are safe and in cold storage. However, this may not always be the most practical solution, especially for active traders. Over the years, a number of excellent software wallets have also emerged that allow users the convenience of speed without compromising on security.
Some of our favorites for storing your DGTX safely are Ethereum and ERC20 wallet TrustWallet, available on web and mobile, the Enjin blockchain mobile wallet, and desktop ETH wallet Atomic Wallet.
All of them allow users to view balances and transact–while keeping your own private keys and turning your device into a hardware-like blockchain wallet.
While Atomic Wallet also gives you the option to buy crypto with a bank card in a matter of minutes as well as provides instant exchange via Changelly.
Don’t Fall Victim to Phishing Attempts
The ICO era may be behind us and that’s probably a good thing. Too many companies were lax with their security when it came to token sales. Many projects and investors fell victim to elaborate phishing attacks. Phishing is when a hacker misrepresents themselves as the legitimate party in order to receive the funds.
There are plenty of occasions in which you will probably have received a false email from Digitex or seen a fake social media profile. These are phishing attempts in which hackers try to obtain your personal information, private keys, or even transfer ETH or DGTX with the promise of sending back more. Never fall for these.
No one at Digitex will ever ask for your private keys or ask that you send cryptocurrency to us. So, be sure to double-check the Twitter, Facebook, or Instagram account you follow to make sure you have the right ones.
Using MetaMask with MyEtherWallet
Using MetaMask and the MyEtherWallet extension is another good way of storing your DGTX safely. Just don’t get lax or fall prey to phishing attempts. You should always visit the site directly and never click on a link in an email. Also, check that the connection is secure by seeing the padlock sign.
It’s a good idea to bookmark the page so that you are sure of always getting the right one. Hackers may add in the tiniest of characters that are almost unnoticeable if you’re in a hurry and can cost you all your crypto.
Our Digitex Task Force plays an important role in helping to remove fake pages and weed out scammers. We want you guys to be safe online and safe with your DGTX. It’s not worth the risk of choosing convenience over security.
If you haven’t already heard, Coinexchange.io is closing down very soon, in fact, trading has already stopped. As a DGTX partner, there are still some 959K DGTX in its wallet. If you are holding DGTX on this exchange, you have until 15 December to withdraw it. And when you do, be sure to store it correctly and keep your hard-earned DGTX safe.
Lion Asset Management managed funds remain closed to new clients except by recommendation from an existing client. Our funds are exclusively offered ONLY to Professional Investor, Professional, Eligible Counterparty, High Net Worth or Sophisticated Investors dependent on your jurisdiction.
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