How to Stay Safe While Earning Crypto Online
The cryptocurrency world is full of exciting opportunities to earn digital assets, whether through faucets, Web3 social media, passive income nodes, or other methods. However, these opportunities come with risks such as scams, hacking attempts, and privacy concerns. Many people eager to earn crypto fall victim to these schemes or compromise their security without realizing it.
If you’re looking to earn crypto online safely, it’s very important to understand how to protect your assets and avoid the common traps that many newcomers fall into. In this guide, we’ll cover the safest ways to earn crypto, the potential risks you might face, and how to secure your digital assets. You can also find some of my favorite earning platforms at the end of this article.
Securing Your Wallet
The First Step to Online Safety
Before you even start earning crypto, you need a secure way to store it. Unlike traditional banks, crypto wallets are self-managed, meaning that if you lose access to your funds, there is no customer support to help you recover them.
A crypto wallet comes in two primary forms, hot wallets and cold wallets. Hot wallets, such as MetaMask and Trust Wallet, are connected to the internet, making them convenient but more vulnerable to attacks. Cold wallets, like Ledger or Trezor hardware wallets, store your private keys offline, making them significantly safer.
Regardless of which wallet you use, one rule is universal, never share your private key or seed phrase. Your private key is the equivalent of a password that grants full access to your crypto holdings. If someone gains access to it, they can drain your wallet instantly, and there’s no way to recover the lost funds.
Another critical security measure is enabling multi-factor authentication (MFA) whenever possible. This adds an extra layer of protection to your accounts, making it harder for hackers to gain access, even if they somehow steal your password.
You can also create your own secure wallet using Veracrypt and a wallet like Coinomi. I will be sharing a new article with a detailed step by step on how you can do this in the near future. I tried to cover it when I first starting writing articles like this but I think it is about time I created a new one and made it a little more detailed.
Recognizing and Avoiding Crypto Scams
As the crypto industry has grown, so have the number of scams targeting newcomers. These scams often promise high returns, claiming you can double or triple your money overnight. Unfortunately, many people have fallen victim to these fraudulent schemes, losing significant amounts of money in the process.
One of the most common scams involves Ponzi schemes, platforms that pay early users with money collected from new investors. These platforms appear to be profitable at first, but they eventually collapse, leaving later investors with nothing. If a platform guarantees unusually high returns with little to no risk, that’s a huge red flag.
Another common scam is phishing, where malicious actors create fake websites or impersonate legitimate projects to steal your credentials. These scammers often send fake emails or messages urging you to “claim a reward” or “verify your wallet,” leading unsuspecting users to enter their login details on fraudulent sites. Always double-check website URLs before entering sensitive information, and never click on suspicious links from unknown sources. If you ever get an email like this I always suggest checking who the sender was. You can normally tell if the email is legit or not by checking the sender. That is not a definite though so be careful and still be sure to double check URLs.
A good rule of thumb is to research any platform before using it. Look for community feedback on forums like Reddit, Trustpilot, and Twitter (X). Also, check whether the project has been audited by security firms such as CertiK or PeckShield. A legitimate Web3 project will have a public roadmap, a whitepaper explaining its purpose, and a transparent team behind it.
How to Safely Use Crypto Faucets
Crypto faucets are websites or apps that give away small amounts of cryptocurrency for free. While this sounds great in theory, many faucets are designed to trick users into downloading malware or visiting scam sites.
Legitimate faucets, such as Cointiply and Faucet Crypto allow users to complete simple tasks or captcha verifications to earn small amounts of Bitcoin or other cryptocurrencies. However, not all faucets are trustworthy, so it’s crucial to stay cautious. Even the ones you might think are safe might not be in the future. I suggest never holding to much funds on any of these websites. There are so many faucets it would take me forever to go over them all but the two above are my favorite right now.
One of the biggest risks associated with crypto faucets is malicious ads and pop-ups. Some faucet websites contain intrusive ads that, when clicked, can install malware on your device. To minimize this risk, consider using an ad blocker and a separate wallet for your faucet earnings. That way, if a faucet turns out to be fraudulent, your main crypto holdings won’t be compromised. I also suggest using a browser such as Brave browser. Not only does Brave keep you safe when surfing the web with its built in shield feature but you also earn Crypto from using it.
To be honest I have used well known earning websites and have had some pretty questionable free Crypto NFTs pop up in my wallet. Not sure where it came form so I can not name any websites right now but I have my guesses. If you ever get an NFT in your wallet saying you won a bunch of money do not click it or interact with it. Report it and keep on earning. Another reason why it is a good idea to use a wallet that is dedicated strictly to earning website. Keep your savings and your earning wallets separate at all costs.
Another thing to watch out for is faucets that require deposits before allowing withdrawals. No legitimate faucet will ask you to pay money upfront. If a platform demands payment before letting you withdraw, it’s most likely a scam and it is best to stay far away.
Staying Safe on Web3 Social Media
Web3 social media platforms, such as Tangled, The Arena, and BULB, allow users to earn crypto by engaging with content. These platforms are decentralized, meaning they give users more control over their data and earnings. However, they also introduce new security risks.
One major risk is phishing scams disguised as airdrops or giveaways. Scammers often impersonate popular Web3 projects and send fake links, claiming users have won free tokens. These links trick users into approving malicious transactions that drain their wallets.
To avoid this, always verify official project announcements before interacting with an airdrop. Also, consider using a burner wallet when connecting to new Web3 platforms. A burner wallet is a separate crypto wallet with minimal funds, used solely for testing and interacting with unfamiliar projects. If the platform turns out to be unsafe, your primary wallet remains secure.
Another smart practice is regularly reviewing wallet permissions using tools like Revoke.cash. Over time, you may unknowingly grant permission to various smart contracts, some of which could be exploited. By periodically revoking unnecessary permissions, you reduce your risk of losing funds.
Running Passive Income Nodes Securely
Many crypto enthusiasts set up passive income nodes, such as Nodle, Helium, and Mysterium, to earn cryptocurrency by sharing bandwidth, processing transactions, or contributing computing power. While these can be a great way to earn crypto passively, they come with security and privacy risks.
Some nodes require you to share a portion of your internet bandwidth, which could expose your network to potential cyber threats. If a malicious actor exploits the network, your IP address could be linked to suspicious activity. To mitigate this risk, consider running nodes on a dedicated device like a Raspberry Pi instead of your main computer.
Additionally, research node projects carefully before investing. Some fraudulent projects require expensive hardware purchases but fail to deliver promised rewards. Stick with well-established projects that have strong community backing and transparency.
Running nodes is a great way to earn a small passive income but I think it is very important to keep track of what information is being shared and what data is being collected. Some platforms might seem like they are worth the risk but in the end our data is worth more then gold these days. I suggest setting up an extra computer if you have one to dedicate to node platforms. Use a platform like Wireshark to watch the traffic going in and out of that computer. This will at least give you piece of mind of what is happening on your network. A good amount of these platforms do not allow you to use a VPN but if you are allowed then I always suggest doing that.
Protecting Your Privacy While Earning Crypto
Unlike traditional banking systems, blockchain transactions are publicly visible, meaning anyone can track transactions if they have your wallet address. This makes privacy a significant concern for many crypto earners.
To enhance your privacy, consider using a VPN when accessing crypto websites. VPN services like ProtonVPN or Mysterium VPN help mask your IP address, making it harder for attackers to trace your activity.
Additionally, avoid using the same wallet for both public transactions and personal savings. If you receive payments from multiple sources, it’s wise to have separate wallets for different purposes. This way, even if someone traces a transaction to your public wallet, they won’t have visibility into your private holdings.
Finally, always be mindful of social engineering attacks. Avoid sharing screenshots of your wallet balances or transactions on social media, as this could attract scammers pretending to be support agents or project representatives.
Final Thoughts
Earning cryptocurrency online can be rewarding, but it requires vigilance. Whether you’re using faucets, Web3 social media, passive income nodes, or other earning methods, always prioritize security. Never share your private keys, use reputable platforms, and stay informed about potential scams.
By following these safety tips, you can confidently navigate the world of crypto earnings while protecting your assets and privacy. In an industry filled with both opportunities and risks, knowledge and caution are your best defenses.
(This article was written by HattyHats and the help of AI)
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My favorite earning platforms
Tangled — Earn MLX social media (WMLX)
BULB — Earn BULB blogging (SOL)
The Arena — Earn AVAX social Media (AVAX)
Slice — Earn BTC watching YouTube and surfing the web (Lightning Network)
ZBD — Earn BTC playing games and taking surveys (Lightning Network)
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www.earnwithhatty.com
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