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For example, Bitbuy recently removed its fees on deposits and withdrawals, making the overall trading experience significantly cheaper for users. I've personally used Bitbuy for over a year, so I've seen them consistently improve their platform over time. It's a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it's a highly safe and secure exchange that offers deep liquidity on all order sizes. To date, Bitbuy has processed more than $4 billion in trades across its 400,000+ Canadian users.
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It supports 25+ cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app. And seriously, if nothing else, don't lose that wallet seed.Bitbuy is, without a doubt, the best crypto platform in Canada in 2022.įor starters, Bitbuy has the lowest trading fees in Canada at just 0.1%. Luckily, you don't need to be a cryptography expert to take the basic security steps that will protect you against the majority of attacks. “The area is new and we need to support the people who are just finding their way in.” “Help newcomers to crypto with their security,” Cornell's Sirer says. The more secure the ecosystem, the less attractive a target it is to bad actors. The best way to defend against an attack like that (if your malware scanner doesn't detect the intrusion) is simply watching all transactions carefully, and taking steps to safeguard your assets so you know your data hasn't been exposed.Īnd once you have the basics in place, make sure your friends adopt the same mindset. If the victim doesn’t spot the change, the transaction goes through and the coins go to the crooks. When it sees a string of numbers that looks right, CryptoShuffler simply starts swapping the wallet ID the victim copied for its own malicious wallet address in payment fields. The malware works by lurking silently on a victim’s computer and passively monitoring their clipboard, waiting for the victim to copy a Bitcoin wallet address. It shows just how basic cryptocurrency scams can be. Take that CryptoShuffler trojan, which originally emerged more than a year ago and has been making the rounds again this week. The following won't defend against every conceivable attack on your digital doubloons, but it's a good place to start. Just as you might keep your cash out of plain sight, or stash your jewelry in a safe deposit box, it pays to put a little effort into how you manage your cryptocurrency. And a trojan called CryptoShuffler has stolen thousands of dollars by lurking on computers, and spying on Bitcoin wallet addresses that land in copy/paste clipboards.Ī few simple steps, though, can help cryptocurrency proponents-be it Bitcoin or Monero or anything between-guard against a swath of common attacks. Search engine phishing scams that tout malicious trading sites over legitimate exchanges have also spiked. Just this week, scams have arisen that divert funds from users' mining rigs to malicious wallets, because victims forgot to change default login credentials. But those measures don't make cryptocurrencies any less susceptible to the types of simple, time-honored scams grifters have relied on in other venues. They also validate everything on public, tamper-resistant blockchains.
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Whether it's a fake wallet set up to trick users, a phishing attempt to steal private cryptographic keys, or even fake cryptocurrency schemes, there’s something to watch out for at every turn.Ĭryptocurrencies can feel secure, because they decentralize and often anonymize digital transactions. The threats aren't just abstract or theoretical new scams crop up, and old ones resurge, all the time. Owning cryptocurrency isn't quite the Wild West experience it was at the beginning of the decade, but investors still face plenty of instability and risk.