A blog for crypto beginners

We hear a lot about hacked governments and companies. Most of us are not affected directly by them, so why should we care about it?

Well, it is enough to have your email or phone number to be compromised to lose access to most of your online services.

**Banking?** - *Gone*

**Phone?** - *Gone*

**Crypto exchanges?** - *Gone*

 ![Photo by Jason Pofahl on Unsplash](https://storage.googleapis.com/papyrus_images/e1016c9d2206f1f2f92f067dc27e3821)

So, the question is: what can the average person do, to minimize risks without a degree in computer science?

*Read on a find out yourself!*

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## Passwords

Passwords became a necessary evil in our lives. You need a password for everything. You know you should use a completely different password every time. On top of that, every service has its own criteria, like using numbers and special characters.

**Enter the scary but rewarding world of password managers.**

Password managers exist for a long time now and they are great! There are several different options or solutions, depending on your needs. Some can sync your passwords across your devices, some are offline, some are mobile-only. The best thing is, most have a password generator built-in.


:::tip
I will leave a few names of services at the bottom of the page for you to check out later. Try all of them and see which works best for you.

:::

Using password managers is very simple: unlock your database with a master password and then can copy-paste the password you need.

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## Selecting the master password

A good starting point for secure passwords: *make up a long sentence or use a bunch (12+) of words (separated or not), replace some of the letters with numbers, use capital and lower case, and add a few special characters (e.g: ! ? % &).*

Make sure to memorize this and only continue with the setup if you are sure that you remember the master pass correctly. It's a good idea to open your empty database a few times to be sure you got it right before continuing. *Most services don't store your master password for security reasons.* This means that if you forget it you won't be able to recover it.

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## How to set up a password manager for the first time?

Now you have your chosen app, let's see the workflow of getting all your passwords in.


1. Make a list of all the services you regularly use. Normally, managers need a name for the service, a URL, a username, and a password.
2. Then visit each service one by one and create an entry in your manager leaving the password part empty.
3. Once you have that done go back to the first entry in the password manager, create a new password with a password generator, and save it.
4. Then, go on to the service's settings page and change your password to the one you just saved into your database.

Repeat steps 3-4 until you have all your passwords changed and saved into your database.

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## 2FA

**2FA** or **Two-factor Authentication** is another great way to add extra security to your accounts on the internet. It adds another layer to verify yourself along with your password. Most companies offer 2FA by a generated one-time password (OTP) through text message, email, or by a third-party app.

Authentication with 2FA is simple: log into the service using the password manager, then input the 6-digit code (one-time password) from your 2FA app on the next screen and you are in. Every time you log in to a service you'll need to input your password and your OTP.

This sounds quite inconvenient for most people and it is sometimes. However, internet security is not about convenience!


:::tip
Also, worth noting that using an app or a security hardware key is better than the text message or email option.

:::

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## Let's set up 2FA on an account!


1. Find the security settings in the service you want to secure
2. Usually, under passwords you'll find the option to turn 2FA on. Click on it
3. In your 2FA mobile app: tap on add new entry
4. Scan the QR code with your phone
5. At the next prompt, verify that it is set up correctly
6. Done

That's it, you are set up now. There is one last step and most companies do this automatically: **get**ting **your backup keys for** the **2FA** you just set up.


:::info
You should get your security codes at the end of the set-up which you must save either on your computer, write them down or print them.

:::

Whatever you choose, make sure that you save them because if your 2FA app does not allow import-export those security keys will be your backup codes in case you lose access to the app on your phone.


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 ![Photo by Thanhy Nguyen on Unsplash  ](https://storage.googleapis.com/papyrus_images/e58941503401a4725aad634742f483f8)

## Email

Most people have an email address in 2021. It is easy to take it for granted, it's there, nothing bad happened since you have it, never been hacked.

Well, in the crypto world there are tons of scams going around, not to mention that there is a quite high chance that your email had been leaked at some point in the past, you're just not aware of it. You can check it yourself here: <https://haveibeenpwned.com>.

The point I'm trying to make, if you haven't guessed it already, is that you should set up a separate email you'll use for your crypto stuff only. Remember, *in crypto, you are your own bank*. *You also shouldn't trust anyone* (that's why I'm not recommending specific services here. You should do your own research).

There are many secure and free email providers out there, register an account with them, set it up with your password manager, and enable 2FA. Then go ahead and update your email address at your chosen crypto exchanges and services.

Do not use this account for anything else. No newsletters, no online services or games, nothing. Maybe register another one just for subscribing to different crypto accounts to try them or use an email alias service.

All this above may seem overkill, but think about it: your money is on the table. And as I stated before, you are your own bank in crypto. You control your coins once you have your private keys (post is coming soon) so it is essential to minimize risks as much as you can.


:::warning
This is also not a perfect solution. There is no such thing! But a good starting point for those who are not computer experts or starting out in this space.

:::

Once you gain more knowledge about security in general you'll understand how important it is to keep risks to a minimum when it comes to securing your accounts.


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As promised, here are some ~~links~~ services to check out:

**Password managers**

* LastPass
* KeePass
* KeePass XC
* Bitwarden
* Dashlane
* 1Password
* Padloc
* Psono
* Hypervault
* Enpass

**2FA apps**

* FreeOTP
* FreeOTP+
* Aegis
* andOTP
* Google Authenticator
* Authy
* AuthPass
* KeeWeb
* SoloKeys (Hardware)
* YubiKey (Hardware)
* OnlyKey (Hardware)

**Email services**

* Mailfence
* Protonmail
* Tutanota
* Fastmail


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If you enjoyed reading my blog, please consider subscribing to my newsletter to get notified when I publish a new post.

Thanks for reading and see you out there!

ChainHarvester

A note about security

 ![Photo by Olya Kobruseva from Pexels](https://storage.googleapis.com/papyrus_images/83b4d58914e5b1dee8dd02f73d48cb75)

Trying out something new is always intimidating, especially when your hard-earned money is on the table. I will not tell you what to buy or buy anything for that matter - I guess you made up your mind already about that.

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In this post, we will look at what you will need to make your first crypto transaction and how to do it.

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Let's get to it right away!

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## Exchanges

First things first, you'll need to choose an exchange. **A crypto exchange**.

Sounds obvious, right?

Yes, but which one? There are plenty out there. You'll eventually have an account with many (quite likely), but that is not a requirement.

 ![Photo by Alesia Kozik from Pexels](https://storage.googleapis.com/papyrus_images/7c8323b16085615dabe1d68c9175c484)

Take a look at Coinbase, Kraken, ~~Binance or Poloniex~~. These all have a long history in business and quite unlikely that they will go out of business or worse, run with your money. Do some research, choose one (not necessarily from the list above) which suits your needs and go ahead and register.


:::warning
Always make sure is that the URL is correct.

:::

For example here are the links for all the four I mentioned above *(no affiliates here, these are just some I use/used)*:

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Coinbase - https://www.coinbase.com

Kraken - https://www.kraken.com

~~Binance - https://www.binance.com~~

~~Poloniex - https://poloniex.com~~

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Always ensure that you have the correct URL in the browser and if not, navigate to the correct site. Alternatively, you could type the name of your exchange into Google and navigate from there.


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## **Register an account**

It is just as simple as on any other website however, you must make sure that you have a strong password for your account (more on that in a later post). Take the time and come up with a good password that satisfies the following: \n 

* **Long:** At least 16-20 characters
* **Never used before:** Self-explanatory. Do not use a password or passphrase you used for anything else.
* **Add in numbers and special characters:** replace letters with numbers, add an exclamation and/or question mark
* **Use upper and lower case** \n 

Make sure that you remember this password as it will be the key to your funds.


:::info
Note about security: You should always use different passwords for all your accounts, especially finance-related accounts, and email accounts.

You should also enable 2FA for extra security: try Aegis, Authy. andOTP or FreeOTP. You could use the standard Google Authenticator as well, but the ones above offer extra features, such as exporting or syncing your account with another device. (Alternatively, you could get a hardware key as well. More on that later.)

:::

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You will need to go through and authentication process (KYC) in order to be able to trade: exchanges normally ask for your address and a picture of your ID or passport.

Once your account is ready you can go ahead and start adding funds to it.


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## **Adding funds**

This is no different than purchasing something on a website or transferring money to another bank account. *Sometimes you need to add in a special code in the reference field on your banking app - just make sure you get that right.*


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 ![Photo by a Viktor Forgacsa on Unsplash](https://storage.googleapis.com/papyrus_images/a6a94fa86743f48d2b7d517f2073efb7)

## **Using the exchange**

~~Most exchanges offer OTC trading which means you can exchange your currency for your selected cryptocurrency for a small fee.~~

On most exchanges you can trade your fiat currency for cryptocurrency for a small fee. \n 

I would suggest doing this and with a small amount you are comfortable losing. Not that you will lose everything instantly, but *you should always treat any money that you put into crypto as lost.*

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> *Wait, this sounds insane. People make crazy money with crypto. What do you mean that my money is lost?*

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I hear you! As most crypto projects ~~are decentralized~~ aim to be decentralized **you are responsible for your own money.** There are a lot of scams out there. Sometimes things go wrong, exchanges exit and run away with the cash or a coin crashes after a pump & dump. But let's just focus on the transaction.

You should have your money loaded now on the exchange. Choose the coin you want to trade, enter the amount you want to exchange, and accept the transaction.

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:::tip
Note, that you don't have to buy a full coin! It is possible to buy a fraction of an asset, just be mindful of exchange fees.

:::

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Once the transaction is completed, check your portfolio and enjoy your cryptocurrency.


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## **HODL**

This is the ~~boring~~ exciting part - the waiting or as crypto people call it, **HODL**ing. It means exactly, what you think it means: doing nothing and enjoying the ride!

Cryptocurrencies are different from most other traded commodities or currencies. Trading never stops and that means price fluctuates all the time. You may have some gains or losses already but don't worry about that. It is scary sometimes (especially when everything goes red right after your transactions) but this is all about the long-term.

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Go on, read some blogs or crypto news and let your coins be.


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If you enjoyed reading my blog, please consider subscribing to my newsletter to get notified when I publish a new post.


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Thanks for reading and see you out there!

ChainHarvester

First Transactions

Welcome to my blog about general and basic crypto related topics such as getting your first coins, general security everyday crypto stuff.

What can you expect from this?

I want to focus on the "technical" aspects of crypto instead of talking about the history of BTC or discussing different chains and protocols.
There will be no price predictions or shilling coins but there will be a lot of how-to's and tutorials.

What makes me qualified to do all this?

Nothing, really. I am just a person who learned about BTC a long time ago and has been in this (on and off) for quite some time now.
I wouldn't claim to be an expert but I had my fair share of figuring things out about everyday stuff for example: what to do with my seed words or which exchanges are the most user-friendly.

Thank you for reading and see you out there!

ChainHarvester

A note about security

First Transactions

Welcome to the blog