Yield App

Top tips to avoid crypto fraud and stay safe online

7 min read
  • 2022 is set to be the biggest year for crypto heists and hacks, with $3 billion stolen so far.

  • There are a number of steps you can take to stay safe online, whether it is keeping your crypto account secure or protecting your email from unauthorized access

  • We share our top tips to keep your crypto account secure, including setting a strong password and enabling 2FA, if you haven’t already done so

  • Our recently launched Address book feature allows you to create a list of trusted withdrawal addresses for added security

  • Don’t forget, we also offer a Smart Lock option designed to let you temporarily lock your account for any period of time

As 2022 draws to a close, the number of hacks and exploits in the crypto space continues to rise. This year is set to be the biggest for digital asset heists, with $3 billion stolen by crypto hackers so far, according to Chainalysis. There are a number of steps you can take to safeguard your crypto assets and remain safe online.

At Yield App, your account security remains a top priority. In this blog, we share five tips to secure your crypto account, as well as best practices to remain safe online.

Don't forget, we recently introduced the Address book feature, which allows customers to create a list of trusted withdrawal addresses. We highly recommend that you turn on this feature for further protection of your crypto assets.

READ: Yield App adds Address book feature for extra security

How to avoid unauthorized access to your online accounts

  • Never use the same password for more than one account

This can help hackers gain unauthorized access to your online accounts, stealing your personal information, which makes it easier for bad actors to commit fraud. Always choose a unique, strong password for all your accounts.

  • Turn on Two-factor authentication (2FA) for your Google/Microsoft and other accounts

2FA is not just for crypto. It is worth setting up 2FA for all your accounts online to make it as difficult as possible for bad actors to gain access to your personal information.

  • Never click on suspicious links

If you don’t recognize the link – it could be a fraudulent account, created in an attempt to extract your personal information and commit fraud. Always check the links you are clicking on and never input personal information if you don’t trust the website.

The only genuine website you should be using to sign in to your Yield App account is yield.app. All other URLs are fraudulent.

  • Use only trusted devices

If a device is public, don’t use it to access your personal accounts or any other confidential information. This can provide access to fraudsters and scammers.

  • Keep your software up to date

Security vulnerabilities are often found in outdated software. By keeping your operating system and other software up to date, you can protect yourself from these vulnerabilities.

Five ways to keep your crypto account secure

1) Set a strong password for your Yield App account

A strong password, containing upper and lower case letters, as well as special characters (!$#§&), protects your account from unauthorized access.

Never use the same password twice for different accounts. In addition, consider changing passwords from time to time for added security.

Ideally, we recommend using a password manager, such as Bitwarden or LastPass. These help you create strong passwords and protect your crypto accounts by encrypting your login details so that they can be accessed only after entering a master password.

Our recently launched mobile app supports simpler fingerprint or Face ID login options so you can log in effortlessly and securely from your mobile device.

2) Enable Two-Factor Authentication (2FA)

2FA is an extra layer of security that requires you to enter a passcode in addition to your password when logging in or withdrawing assets from the platform. This makes it much harder for anyone to access your account and your crypto, even if they somehow get hold of your login information.

You can set up 2FA for your Yield App account in the dedicated Security section found under Settings.

READ: Best holiday destinations for crypto enthusiasts

3) Be wary of phishing attacks

If you receive an email or message from someone you don't know, be wary of clicking any links or opening attachments that this message contains. These could be phishing attempts. For example, a link could lead you to a fake website designed to gain unauthorized access to your login information.

Official emails from the Yield App Team will be sent from our own Yield App domain (@yield.app) and our Telegram admins will never contact you directly first. If in doubt, always reach out to one of our admins or our support team via [email protected].

Another good tip is to bookmark the sites you use often, such as Yield App, and access your accounts via these bookmarks. This way, you avoid the risk of clicking on the wrong link.

4) Turn on Address Book feature

Our Address Book feature allows you to create a list of trusted withdrawal addresses, so that your assets can never be withdrawn to an unauthorized wallet. Every time you add a new address to the list, there is a 24-hour waiting period before you can withdraw your assets to this address – giving you time to act if you are not the one who made the withdrawal request.

LEARN how to activate Address Book here

5) Regularly monitor your account activities and contact us if you have any concerns

If you ever have any doubts about the security of your Yield App account, don't hesitate to reach out to our support team via [email protected]. We're here to help you keep your account safe and secure.

By following these five simple steps, you can keep your crypto account secure from unauthorized access.

Activate Smart Lock for additional security

Our brand new Smart Lock solution allows you to choose additional security for your Yield App account. This feature allows customers to request a temporary lock on their Yield App account for any period of time.

READ: How to keep your digital assets secure

You can request two types of locks:

  • A full lock, which prevents anyone from logging into your account.

  • A withdrawal lock, which allows you to log into the platform and perform all other actions.

Both options ensure that no unauthorized withdrawals can be made during the specified period, even if your credentials are stolen.

To activate this feature:

  • Email [email protected] with a photo of yourself holding up your passport or another form of ID.

  • Specify the dates during which you would like your account to be locked.

  • Your account will be unlocked automatically on the day specified by you.

If you require access to your account earlier, simply email our support team again with a photo of yourself holding a form of ID to verify it’s you making the request. Your account will be unlocked immediately.

We pride ourselves on ensuring the highest level of security for our digital wealth platform and continuously bringing out new safety features to improve our product offering. Our mission is to help our valued customers sleep soundly at night, while their digital assets continue to earn yield.

Do you want to earn a secure and sustainable yield on your digital assets? Sign up for a Yield App account today!

DISCLAIMER: The content of this article does not constitute financial advice and is for informational purposes only. The price of digital assets can go down as well as up, and you may lose all of your capital. Investors should consult a professional advisor before making any investment decisions.


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