Avalon Labs (AVL) revolutionizes Bitcoin finance with BTC-backed stablecoin lending, CeDeFi & DeFi solutions. Borrow, stake & earn with BTC-based assets.

 (BTC)’s financial ecosystem, known as 

, has experienced significant growth over the past few years, with a number of sidechains, rollup platforms and cross-chain applications helping users leverage their BTC funds for 

 (DeFi) operations. One of the newer BTCFi solutions on the market is Avalon Labs, a multi-chain platform focused on Bitcoin-backed 

Avalon lets users borrow stablecoins by providing collateral in BTC or BTC-related assets, such as Bitcoin-pegged tokens and 

 of Bitcoin. Users can access funds at fixed repayment rates, ensuring stability in the otherwise volatile crypto finance world. This stability, in turn, drives the more active use of Bitcoin-backed assets in the 

Importantly, Avalon Labs has secured access to billions of dollars in accessible stablecoin funds from centralized finance (CeFi) institutions, helping it act as a key bridge between the worlds of traditional and crypto finance.

 (AVL) is a decentralized BTCFi lending platform that lets users borrow stablecoins by supplying collateral in the Bitcoin cryptocurrency or in BTC-related crypto assets.

 The platform also provides opportunities to earn yield by supplying crypto funds to several liquidity pools. The platform's flagship asset is the USDa stablecoin, backed by Bitcoin.

Avalon also offers other lending opportunities via two primary modes: CeDeFi and DeFi. The CeDeFi offering allows users to access funds in the 

 (USDT) stablecoin, while the DeFi component is made up of three lending and borrowing pools — based on BTC and BTC's liquid staking derivatives, 

Avalon Labs has implemented a series of risk mitigation measures in order to protect its users and ecosystem. Measures focusing on the lending mechanism include the requirement for overcollateralization of all loans, and a rigorous liquidation procedure activated when the 

 (LTV) ratio drops below sustainable levels. Platform-wide risk mitigation measures include regular internal and external security audits, and AI-driven 

Avalon Labs operates on multiple blockchain platforms, including 

, with plans to expand to more decentralized networks in the future.

The project conducted its seed round fundraising in March 2024, and actively entered the BTCFi niche in November 2024 with the launch of its USDa stablecoin. As of the time of writing in early February 2025, the platform is preparing for the launch of its native token, AVL.

USDa is Avalon’s Bitcoin-backed stablecoin, designed to help BTC holders put their funds to active use in the DeFi ecosystem. By providing Bitcoin-based collateral, borrowers can mint USDa, which is freely exchangeable with the USDT stablecoin at a 1:1 ratio. As such, USDa is indirectly pegged to the U.S. dollar via a fixed-rate USDT conversion mechanism.

By locking their collateral and requesting USDa, users create so-called collateralized debt positions (CDPs) — an overcollateralized crypto debt instrument first popularized in the DeFi industry by 

Besides the stable, USD-pegged rate, USDa boasts several other benefits. First, borrowers can access fixed-rate interest repayments for their debts, enjoying certainty in planning their payments to the platform. Secondly, early finalization of debt doesn’t carry a financial penalty. Importantly, USDa can be put to use across different chains, thanks to its utilization of the 

CeDeFi Lending is a major component of Avalon Labs' focus on Bitcoin-backed loans. The project claims to have secured access to billions of dollars in USDT and 

 (USDC) funds at traditional finance institutions. This allows Avalon users to borrow funds in these popular stablecoins at fixed rates of 8 –10%. As of late January 2025, Avalon's CeDeFi lending component allows you to borrow USDT by providing collateral in Ignition FBTC (FBTC), a Bitcoin-pegged omnichain cryptocurrency. Other collateral and borrowing assets (e.g., USDC loans) might also be introduced in the future.

Avalon Labs’ DeFi lending component is represented by three main types of liquidity pools, against which users can lend and borrow assets. The BTC LSD Pools are made up of BTC and BTC-based liquid tokens, with each liquid token isolated to its own independently operating pool. There are also RWA Lending Pools, which consist of RWA tokens and stablecoins. The third type is the General Pool, containing mainstream assets like BTC, ETH, popular stablecoins and more.

The platform separates each asset, such as each liquid token or RWA, into its own isolated pool. Pool isolation helps structure risk mitigation measures carefully tailored to each asset.

For the first few months on the market, Avalon has operated without a native token. The project is currently gearing up for the introduction of its 

, AVL, to be launched sometime in Q1 2025. AVL will support not only governance but also a range of other functions. One of these is staking. By staking AVL, users will be issued sAVL, an asset that will be used directly for governance processes. sAVL holders will participate in votes to decide the rules and future direction of the platform. Staking will also let them accrue crypto rewards in AVL tokens.

Additionally, AVL will provide access to exclusive features, perks and fee rebates on its platform.

The AVL token will be issued with a total supply of 1 billion. Planned supply allocation shares are as follows:

 platform. Bybit Pre-Market Spot is an over-the-counter (OTC) trading platform that allows you to acquire promising new cryptocurrencies before listings on Bybit's main Spot trading market, letting you access these assets at potentially discounted rates.

The AVL listing on Pre-Market Spot lets you speculate on the new token's potential. Naturally, before investing in any asset (whether it's offered via Pre-Market Spot or other trading environments), you’re encouraged to 

 on the project's background, operational details and future potential.

The sphere of financial solutions for the Bitcoin blockchain is quickly gathering pace, with several projects in the cryptocurrency market aiming to help Bitcoin holders put their funds to active use. Avalon Labs is a key initiative within this niche of the cryptocurrency industry, offering a much-needed service — stablecoin issuance backed by the security of Bitcoin. 

Early indicators suggest that this project has significant potential within the Bitcoin ecosystem, as well as within the wider crypto ecosystem. Of particular importance is the project team's claimed access to billions of dollars in USDT and USDC funds at traditional institutional finance providers. A thorough risk management framework — supported by regular audits, AI-driven monitoring, and sound debt collateralization and liquidation mechanisms — also provides further assurances to the user community.

The benefits offered by Avalon Labs are clear-cut, but more details on access to the billions of dollars at traditional finance providers would certainly contribute to user trust in the platform, something that's always helpful for any young web3 startup. Currently, however, the main focus is on the platform's imminent native token launch. AVL's token generation event (TGE) will be a significant evolutionary step in the life of this promising BTCFi project.

Intermediate

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Avalon Labs (AVL): Driving Bitcoin’s Financial Evolution

Helium Mobile is revolutionizing telecom with three new plans, including the Zero Plan.

Daily Top Performer — Ampleforth (FORTH)

The S&P 500 rose 0.72% on Tuesday, but futures fell on Wednesday after Alphabet’s weak earnings while investors await more earnings reports. Gold hit a record $2,845.14 as U.S.-China tariffs fueled safe-haven demand. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 4.35%, with Bitcoin and Ether dropping by 2.52% and 6.25%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is FORTH, which surged nearly 49.1% following the announcement of Ampleforth’s Evergreen Cycle, a decentralized solution for resilient DeFi treasuries.

Ampleforth (FORTH), founded in 2018, is a stablecoin that adjusts its supply daily through “rebasing” to maintain price stability, ensuring holders keep their proportional ownership. Ampleforth 

 AMPL and SPOT as decentralized alternatives for DeFi treasuries, reducing reliance on centralized stablecoins. AMPL’s elastic supply and SPOT’s low volatility offer DAOs a resilient treasury strategy through the "Evergreen Cycle"—buying AMPL in bullish markets and rotating into SPOT during downturns. This system enhances liquidity, mitigates market cycle risks, and enables DAOs to act as decentralized “micro central banks,” reinforcing long-term stability in DeFi.

Check Out the Latest Prices, Charts, and Data of 

Helium Mobile is revolutionizing telecom with 

, including the Zero Plan, which offers free mobile service (3GB data, 300 texts, 100 minutes) while rewarding users with Cloud Points for sharing anonymized data. These points can be redeemed for gift cards and experiences. Other plans include the Air Plan ($15/month) for 10GB and the Infinity Plan ($30/month) for unlimited data. Helium Mobile combines community-powered networking with the nation’s largest 5G coverage, making mobile service more affordable, flexible, and rewarding. The plans are currently invite-only, with a waitlist available.

Yesterday, BTC Spot ETFs recorded $91.7M in total inflows, with $72.2M from non-GBTC and $19.5M from GBTC.

, a decentralized social network platform, is hinting at a potential airdrop for users. To increase chances of receiving the airdrop, users should sign up on the platform, create a Town, deposit ETH, and join other Towns to earn points. Towns raised $25.5M in funding and operates on the Caldera network. Tipping others and daily engagement may boost rewards.

Beginner

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Helium Mobile Introduces Free Plan and Rewards for Staying Connected

Haedal unlocks liquidity for staked SUI by converting it into haSUI tokens, enabling users to earn rewards while freely participating in DeFi activities.

vWhat if you could earn staking rewards and keep your crypto liquid? Haedal, a pioneering 

 blockchain, turns this possibility into reality. Haedal eliminates the trade-off between 

 and accessing liquidity by transforming staked SUI tokens into haSUI — a yield-bearing asset usable across 

 (DeFi). This article explores how Haedal simplifies staking, enhances capital efficiency and unlocks superior returns while fueling the growth of the Sui ecosystem.

Haedal is a liquid staking protocol on the Sui blockchain that allows users to stake SUI tokens, mint haSUI (a yield-bearing 

) and earn additional rewards through DeFi integrations. It simplifies participation in staking while maintaining liquidity for decentralized finance activities.

Haedal was created by a group of anonymous blockchain enthusiasts and experts who recognized the need for a more efficient and secure way to stake SUI tokens on the Sui blockchain. Their vision for Haedal was born from the desire to improve the DeFi ecosystem by offering a simple, one-click liquid staking solution. This approach allows users to earn rewards while still keeping their assets flexible and liquid.

Haedal bridges the gap between staking and decentralized finance, making it easier for users to participate in various DeFi activities without sacrificing security or efficiency. By doing so, Haedal boosts user engagement within the Sui ecosystem and also helps strengthen and expand the broader DeFi ecosystem, paving the way for greater blockchain adoption.

Haedal seeks to address the major issue of lack of liquidity in traditional staking models, whereby users must lock their assets for fixed periods. This restricts their ability to use those funds for other investments or DeFi activities, such as 

 or governance participation, reducing flexibility and deterring engagement. 

Another barrier is the complexity of staking management. Selecting validators, monitoring performance and handling technical processes can overwhelm newcomers — and even experienced users. This steep learning curve limits broader adoption and discourages participation in ecosystem growth. 

Also, many staking systems suffer from inefficiency and security risks. Outdated practices or centralized control can expose users to asset loss and/or downtime, while fragmented platforms make participation cumbersome. These vulnerabilities erode trust and hinder the scalability of decentralized networks. 

 technology to tackle liquidity constraints, simplify user experience and enhance security, aiming to create a more accessible and efficient ecosystem for staking and DeFi integration.

Haedal deploys the following advanced mechanisms to make staking SUI tokens more flexible and user-friendly. 

haSUI is a versatile token that unlocks liquidity for users who stake their SUI tokens through Haedal. When users stake SUI, they receive haSUI at a 1:1 ratio, acting as a dynamic “receipt” for their staked assets. Unlike 

, in which funds are locked and unusable, haSUI retains liquidity, allowing users to trade, lend or use it as collateral in DeFi apps while their original SUI continues earning staking rewards. 

Over time, haSUI’s value grows as it accumulates rewards from validators securing the Sui blockchain. This dual functionality bridges the gap between passive income and active participation in DeFi, letting users maximize their crypto holdings without compromise. 

Haedal streamlines staking by automating the entire process. Users deposit SUI tokens into the protocol, which then delegates them to trusted, high-performing validators on the Sui network. This eliminates the need for users to research validators or manage technical details manually. The system continuously monitors validator performance, reallocating stakes to optimize returns and minimize risks. 

Unlike more rigid staking models, Haedal’s protocol imposes no lockup periods, so users can unstake at any time by swapping their haSUI back to SUI. This flexibility, combined with automated efficiency, makes staking accessible to everyone, from newcomers to institutions, while ensuring their contributions actively support Sui’s network security. 

The Random Vault adds an element of chance to traditional staking, creating a fun and community-driven experience. Users deposit SUI into the vault for one week, during which their funds are delegated to validators. At the end of the week, all staking rewards generated by the vault are pooled and distributed to five randomly selected participants. This gamified approach injects some excitement while also diversifying risk by spreading stakes across multiple validators automatically. 

Participants enjoy a hands-off experience, requiring no active management, while gaining exposure to potential bonus rewards. The Random Vault democratizes staking, offering both seasoned users and casual participants a fresh way to engage with the Haedal ecosystem. 

The Haedal Market Maker (HMM) ensures seamless trading and liquidity for haSUI tokens, addressing common challenges in DeFi: price volatility and accessibility. HMM operates by providing deep liquidity pools for haSUI trading pairs, which stabilizes prices and minimizes slippage during trades. This means users can buy or sell haSUI quickly and at fair market rates, even during periods of high demand. 

HMM maintains a tight peg between haSUI and SUI and enforces trust and usability, making the token practical for everyday DeFi activities, such as swapping, lending and/or collateralizing loans. This infrastructure not only benefits individual users, but also strengthens the broader Sui ecosystem, encouraging adoption and enabling institutions to participate confidently in the decentralized finance realm. 

Haedal has achieved significant milestones, including launching its liquid staking protocol, growing its 

Looking ahead, the project aims to expand its product offerings, improve scalability and strengthen its role in the Sui ecosystem. 

Haedal redefines staking on Sui by merging liquidity, simplicity and innovation. By transforming staked SUI into yield-bearing haSUI tokens, it unlocks DeFi opportunities without sacrificing rewards or security. Features such as automated staking, gamified vaults and robust liquidity solutions empower users to maximize earnings while supporting network growth. 

With a clear road map and a community-driven ethos, Haedal is positioning itself as a catalyst for accessible, efficient decentralized finance, bridging traditional asset holding with the dynamic potential of blockchain.

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Haedal: Unlock Superior Returns With Sui Liquid Staking

Loopy is a Sui-based meme coin inspired by a beaver with a distinctive pink hue that’s featured in the Pororo the Little Penguin cartoon. Learn more here.

If you want a comprehensive crypto portfolio, it pays to check out 

. Though these coins might not be worth as much as major cryptos, their potentially drastic price swings can result in big profits for investors. One intriguing 

 meme coin to check out is Loopy, a cartoon-themed coin (inspired by a popular television show) that’s had an interesting growth pattern of late. To see if Loopy is the right investment for you, we’ll take a look at its tokenomics and pricing trends. 

 is a meme coin based on the Sui blockchain. It's inspired by a beaver with a distinctive pink hue that’s featured in the 

 cartoon. Much like the character herself, the Loopy coin hopes to showcase the values of friendship, hope and harmony.

On a technological level, Loopy works similarly to other meme coins. Loopy uses the Sui blockchain as the foundation for its system. This delegated 

 network is known for its scalability and speed. Loopy takes advantage of Sui's features by using its standardized 

 and token creation protocols. Since Loopy doesn't have to run its own blockchain, it can focus more on the marketing side of operating a cryptocurrency.

In order to increase its token's market capitalization, Loopy has heavily integrated itself into social media. Loopy runs both a Telegram channel and a 

 where it interacts with its audience. These sites post memes about gentlehearted Loopy, encouraging users to share their own. 

In addition to marketing the Loopy coin, these social media sites also help to operate the entire Loopy community by tracking member participation and using these metrics to determine eligibility for 

Loopy's token, with the symbol LOOPY on most exchanges, is a traditional meme coin that has no utility outside of entertainment. Its sole purpose is to appeal to fans of gentlehearted Loopy in 

 The Loopy coin does have a somewhat higher supply than many other tokens, with a 

. Half of the tokens were distributed to community members in an 

, while the other half were used for token liquidity. The majority of these tokens are circulating now, so the coin's current circulating supply is close to its total supply of 1 trillion tokens.

Loopy was released back in October 2024, so it's already been the subject of a few newsworthy events. The coin was initially selling for around $0.000012, but a decline in trading volume led to a sudden price drop, to around $0.0000035 in early November 2024. Fortunately, fans of the beaver with the distinctive pink hue rallied behind it, and it surged to an impressive all-time high (ATH) of $0.000013 by mid-November. 

When the Loopy token’s price increased by over 763% in just 24 hours, it began receiving a lot of attention. The coin's market cap reached $17 million, and it was briefly one of the top Sui meme coins. Since its heyday, the Loopy token has had some struggles. Starting in January 2025, coin prices dropped to as low as $0.00000004 as its market cap plummeted. 

However, these unusually low prices have been just as noteworthy as the coin's ATH. Loopy fans who were getting priced out of owning the token have been expressing interest in it once again, due to its more affordable prices. The trading volume of Loopy might look a little low now, but it's no longer in free fall, as it was in early January 2025. Some market analysts even suggest that LOOPY’s price may reach 

LOOPY tokens have a high current circulating supply, but not all exchanges support this token yet. It's primarily available through smaller, decentralized exchanges. However, if you prefer a more convenient experience, check out the 

. This service provides access to DEX offerings, while maintaining the same great service that all Bybit users can count on. Purchasing LOOPY through Bybit is as simple as checking the current price, entering the number of LOOPY you want to buy and confirming your purchase. 

LOOPY's market cap and 24-hour trading volume have certainly declined from the coin’s heyday, but it still holds some promise for investors. The low current price means that it's possible to buy a lot of LOOPY without spending much money. This can result in big profits if the coin experiences even minor price increases. Furthermore, most pricing analyses suggest that LOOPY's market cap could recover in the future.

However, don't forget that this sort of investment can be risky. Some meme coins generally fail to return to their ATHs after brief enthusiasm during their launches. Loopy's team hasn't been promoting their coin as much lately, so whether or not LOOPY can recover will rely mostly on the coin's fanbase. While investing a bit of extra money you have in LOOPY could be fun, it’s not recommended that you invest money you can’t afford to lose. Meme coins are always volatile, and it’s essential to use some caution and 

 any time you invest in tokens such as LOOPY.

While LOOPY tokens might not have the highest 24-hour trading volume anymore, this meme coin is still backed by a dedicated community. Its ability to appeal to 

fans with positivity and humor has helped it stand out from other Sui meme coins. Loopy is a great example of how a simple yet fun concept can end up appealing to thousands of investors.

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Loopy (LOOPY): The Most Adorable Meme Coin on Sui

Crypto

Keeping your assets safe is of paramount importance to anybody who owns crypto. In this article, we'll go through the steps you should take to do just that.

The decentralized cryptocurrency model largely transfers autonomy and power to users, which is why many users are drawn to it. However, with that power comes the responsibility of maintaining the privacy of your security keys. Effectively, by having complete ownership of your funds, you become solely responsible for their security.

As more crypto hacks happen periodically, it's common for traders and investors alike to ask how to keep crypto safe. This article will explore various best practices for practical user security.

Blockchain is the underlying technology that keeps crypto secure, due to its decentralized and cryptographic nature. Since decentralization means there isn’t a single point of failure or control, it’s unlikely that hackers can compromise a blockchain network without exhausting their resources. In addition, all cryptocurrency transactions are recorded in blocks and “chained together” in a publicly recorded ledger, so it’s relatively challenging for malicious actors to attempt to alter past transactions without altering any subsequent blocks.

In addition, public key cryptography adds another layer of security, ensuring only a rightful owner with the private key can access or authorize a transaction, and pseudonymous crypto transactions help preserve anonymity.

Still, cryptocurrency has intrinsic value and can be stolen and diverted to new owners instantly and irrevocably, creating a considerable incentive for hackers to target users who don’t take their security seriously. In fact, 

 crypto investors lost nearly $4 billion to crypto hackers and scammers in 2022. Like any investment or financial asset, cryptocurrency comes with its own set of risks and considerations. 

While cryptocurrencies have gained in both popularity and adoption in recent years, it's essential to be aware of the potential risks before investing, and to consider if they’re suitable for your specific circumstances.

All financial assets are susceptible to market volatility, due to their inherently speculative nature, in addition to regulatory oversight and changing political landscapes. The security of crypto may also appear as a double-edged sword for traders due to its irreversible nature. Let's say you send crypto funds to the wrong address, or fall victim to a scam. It may be challenging (if not impossible) to recover your lost funds. In addition, the technical complexity may be challenging for those unfamiliar with blockchain technology and digital assets.

Cold Wallet vs. Hot Wallet vs. Exchange Wallet vs. Web3 Wallet

A cryptocurrency wallet allows users to store, send and receive digital assets, such as Bitcoin, Ethereum or other cryptocurrencies (known as 

). These wallets are secured by private keys, so that only the wallet owner can access, control and manage the assets in the wallet by authorizing transactions.

 to suit different purposes. A cold (offline) wallet isn’t connected to the internet, and is typically in the form of a hardware wallet or paper wallet. These types of wallets are the most secure option for storing cryptocurrencies, as the private keys aren’t exposed to potential online threats and unauthorized access. The trade-off to using an offline wallet is that it requires careful handling to avoid permanent damages, such as accidentally throwing out the offline wallet or misplaced private keys.

On the other hand, a hot (online) wallet is connected to the internet and takes different forms, such as a web-based, desktop or mobile wallet. Compared to an offline wallet, hot wallets are more accessible but at the expense of heightened security infiltration.

An exchange wallet is typically a custodial wallet provided by a crypto exchange to users whenever they create an account on the platform. These custodial wallets are assigned with a unique wallet address to a user, so that they may deposit and withdraw funds. In other words, users entrust their funds to be saved in these wallets, and the providers hold and manage the private keys on behalf of the users.

 (or decentralized) wallet is one of the latest additions to the crypto space, designed specifically for users to interact with decentralized applications (

) on the Ethereum blockchain and other web3-compatible blockchains. These wallets are usually integrated directly into a web browser, allowing seamless interaction with blockchain-based DApps without using external plug-ins.

Ultimately, choosing a crypto wallet depends upon your specific needs and preferences.

Regardless of the type of wallet you choose, remember to practice proper security measures, such as enabling two-factor authentication (

), using strong passwords and keeping backup copies of your wallet's private keys or 

What Happens If I Lose My Wallet’s Private Keys?

As much as we want to keep our wallets safe from prying eyes, accidents are inevitable, regardless of how careful we are. And losing access to your wallet's private keys can have serious consequences, such as permanent loss of funds and access to your account. For example, losing your private keys without a backup means you’ll no longer be able to access the wallet that stores your crypto. These funds may be stuck on an exchange or in a wallet, depending upon the type of wallet you use.

The first thing we’re likely to do when we lose access to our private keys is to look for a backup. However, cryptocurrencies operate on decentralized networks, so there’s no central authority that can help you recover your lost private keys or reset passwords for you. Hence, it’s always advisable to keep a record of your private keys or seed phrases as a backup. 

In rare cases, there are specialized companies that can help you retrieve lost private keys when there’s sufficient information and verification to recover them.

Remember that in the world of cryptocurrency, you alone are responsible for safeguarding your private keys. Being proactive in protecting and securely managing your keys can prevent the distressing experience of losing access to your valuable digital assets.

10 Best Security Practices for Cryptocurrency Users

1. Change your perception of cybersecurity

One steady truth throughout the ages is that we pay fees for the security of the funds in our bank accounts (though “security fees” will never appear on bank statements). Unlike traditional centralized banking financial institutions, decentralized systems such as cryptocurrencies transfer the control and responsibility of security to individual users.

With cryptocurrency, even when we might be excited to complete our first cryptocurrency transaction, we shouldn’t forget there are no longer any security service providers like the ones banks have, and there may not even be regulations in place to provide any protection (depending upon the national or regional regulations in the holder’s location). Therefore, it’s crucial that cryptocurrency users have rigorous security practices in place, such as buying simple and easy-to-use hardware security devices, mastering security protocols and implementing best security best practices, such as those recommended in this article.

2. Choose a trusted crypto trading platform with reliable security incident compensation or insurance mechanisms

The most apparent risk faced by cryptocurrency holders is the theft of coins. Assuming most individual users hold coins on cryptocurrency trading platforms, choosing a trusted platform is of the utmost importance.

There is no benchmark for international security standards or third-party agency ratings for trading platforms in the cryptocurrency industry. Therefore, it’s necessary to properly understand a platform’s security mechanisms before you register, such as the company’s current security investment. Also, it’s important to check if the platform offers any user account security insurance or guaranteed compensation for security breaches.

3. Always stay informed about anti-phishing practices and scams by completing the safety test

Phishing is the most common scam. To avoid being viewed as a “fish” in the eyes of perpetrators, make sure that you’re equipped with knowledge about common “bait-the-hook” techniques.

One example of a phishing email is when a URL that invites you to click on a link is a fake domain name that’s similar to a trusted one — e.g. 

). It could even be a clone website of a commonly used trading platform, such as a phony MetaMask wallet website that “looks real” and tricks you into entering your seed phrase so scammers can instantaneously pick your digital pocket, draining your funds.

, around 65% of organizations worldwide experienced some kind of phishing attack in 2022. If your email has been compromised or if you previously had a compromised account, then phishing emails will be carefully designed to target you. According to statistics, around 96% of phishing attacks come from email.

A reliable method for crypto holders is to complete an anti-phishing security test. The Google online test is a good benchmark (you can take the test 

 It comprises a total of eight questions and requires just 10 minutes of your time. If your score falls short, that means you need to increase your security awareness and try again.

Other common phishing methods include sending gifts or bonuses through fake official social media and community channels, posing as customer support personnel or cloning trading platform CEOs' social accounts. 

4. Always use two-factor authentication (2FA) 

The good news is that most cryptocurrency trading platforms, including 

 or other wallet service providers, require you to use two-factor authentication, such as Google Authenticator or Authy. The trade-off is the hassle of using these tools.

2FA is an additional layer of security used to ensure that only legitimate owners can access their accounts. This “extra” layer means that, in addition to standard passwords and PINs, a platform’s security will also verify a second layer (hence, two-factor). This second factor can be something you own, such as the Google Authenticator app installed on a mobile phone that you carry, or a one-time password sent to your mobile phone via SMS or hardware tokens. These features are used on top of your existing mobile security features (such as fingerprints, iris and/or facial scanners, etc.).

When you install Google Authenticator directly on your computer, you give up an extra layer of protection every time you copy the verification code instead of using a smartphone app. It’s very likely that once a hacker (remote) or a person who has physical access to your computer gains access, your existing layers of protection will be penetrated.

At Bybit, users can bind their accounts with Google Authenticator. The best time to bind your Google Authenticator is immediately after your first login to your Bybit account.

 to learn how to bind your Bybit account to Google Authenticator.

5. Use strong passwords independent of other funds accounts

It’s always the most economical choice for a hacker to try to target a cryptocurrency account with a user’s compromised account and password. Knowing this, a savvy cryptocurrency holder will take the following preventive measures.

First, register a new email account for the cryptocurrency platform to circumvent any previous digital footprint that would allow anyone to hack or clone your account successfully. Secondly, don’t use weak or common passwords.

, a blockchain certificate company, 65% of the Know Your Client (

) verification processes in the world’s top 120 cryptocurrency trading platforms are weak. This means that once your crypto account password has been cracked, a hacker can easily obtain your crypto assets on a trading platform and transfer them to their wallet address, thus leaving little to no chance of retrieving your assets. 

6. Divide assets 70-20-10 to diversify your risk

In addition to trading on platforms using your accounts and cryptocurrencies, it’s common for traders to store crypto assets offline, as one would with cash in a safe. Personal crypto assets — whether in hard wallets, physical storage, desktop wallets or mobile APP wallets — are best allocated to cold, warm and hot wallets in the ratios of 70%, 20% and 10%, respectively, depending upon your individual needs and preferences.

Would you carry your entire net worth around in your wallet?

Most people would consider that reckless — and yet, cryptocurrency users often keep all their crypto in a single wallet. Instead, users should spread the risk among multiple and diverse cryptocurrency storage wallets. Prudent users will keep only a small fraction, perhaps less than 5%, of their cryptocurrency in an online or mobile wallet as “pocket change.” The rest should be split between a few different storage mechanisms, such as a desktop wallet and offline (cold storage).

7. Use a physical wallet that represents future trends

Because most users are far more comfortable with physical security than with digital security, a highly effective method for protecting your cryptocurrency is to store it in a physical form. Cryptocurrency keys are nothing more than long numbers, which means they can be stored physically, printed on paper or etched on a metal coin.

Securing one’s keys becomes as simple as physically securing a printed copy of them. A set of cryptocurrency keys printed on paper is called a “paper wallet,” and many free tools can be used to create them. For example, I would keep most of my cryptocurrency (99% or more) stored in paper wallets, encrypted with BIP-38, with multiple copies locked in safes. Keeping cryptocurrency offline (cold storage) is one of the most effective security techniques.

A cold storage system is one where the keys are generated on an offline system (one never connected to the internet) and stored offline on paper or on a physical device, such as a USB memory stick.

In the long term, cryptocurrency security will increasingly take the form of hardware-tamperproof wallets. Unlike a smartphone or desktop computer, a cryptocurrency hardware wallet has one purpose: to securely hold cryptocurrency. Without general-purpose software to compromise, and with a limited interface, hardware wallets can deliver an almost foolproof level of security to non-expert users.

8. Balance the risk of excessively complex protection to prevent asset loss

The main risk addressed in the many security measures mentioned above is that of stolen crypto assets, whether pilfered on a trading platform or physically stolen. However, overly complicated security measures can actually pose a greater risk.

Data files get lost all the time, and if they’re compromised, the losses are more substantial. For example, in July 2011, a well-known cryptocurrency awareness and education project lost almost 7,000 cryptocurrencies. In their efforts to prevent theft, the owners had implemented a complex series of encrypted backups. In the end, they accidentally lost the encryption keys, making the backups worthless — and losing a fortune as a result.

One important crypto security consideration that’s often overlooked is mortality, especially in the context of incapacity or death of the key holder. Cryptocurrency users are told to use complex passwords, and to keep their keys secure and private, not sharing them with anyone. Unfortunately, that practice makes it almost impossible for a user’s family to recover any funds if that user is no longer available to unlock their assets.

If you have a lot of cryptocurrencies, consider sharing access details with a trusted relative or lawyer. A more complex survival scheme can be set up with multi-signature access and estate planning through a lawyer specializing in “digital asset execution.”

9. Be aware of personal data protection and cryptocurrency-related privacy issues

Personal data protection is a sensitive subject. In the encrypted world, a single trace can identify and associate your personal information (PI) with your cryptocurrencies. Examples include your usernames/IDs on crypto community forums, IP address, smartphone device information, personal info trading platforms, or even inadvertently mentioning on social media the type and quantities of crypto that you own.

Information about a particular wallet address, the crypto service provider (trading platform or wallet) you use or your attendance at a private cryptocurrency conference are all examples of personal data that can potentially be obtained by unscrupulous individuals looking for easy targets.

Guarding your privacy is a logical part of protecting the security of your cryptocurrency assets, but it’s also the only way you can avoid conflict between the encrypted virtual world and the real world.

10. Living in the cryptocurrency world, you’ll need a security expert friend

“My deposit went to someone else’s address.”

“The trading platform’s customer support said that I was caught in a clipboard hijacking malware, and I’ll need to use anti-virus software and check the browser plug-in immediately.”

“What exactly is a clipboard hijacking malware, and what should I do?”

Users in the digital world face problems similar to those in the real world, especially security issues. They have so many questions, with no answers and nobody to turn to. Perhaps having a security expert friend in your daily life would make things much less complex.

Is It Safe to Keep Your Crypto on Bybit? 

Bybit has never been hacked, offers unparalleled security and is among the most reliable crypto exchanges. The platform strongly encourages its users to secure their assets using Google 2FA and setting up anti-phishing code built into the platform. This helps to notify users if there’s suspicious activity — for example, non-matching codes.

 feature to restrict any newly added withdrawal address from being used for a 24-hour period. This helps to prevent any unauthorized withdrawals, should your account be compromised.

The internet is filled with prying eyes, and there will inevitably be websites that attempt to impersonate Bybit. We recommend you use the 

 feature to ensure the legitimacy of any Bybit-related domains or sources of information (such as emails, phone numbers, URLs or social media accounts).

Cryptocurrency is a completely new, unprecedented and complex technology. Over time, we’ll develop better security tools and practices that are increasingly easy for non-experts to use. For now, cryptocurrency users can take advantage of the many tips, such as those listed in the article above, to enjoy a secure and trouble-free cryptocurrency experience.

How to Keep Your Bitcoin and Cryptocurrency Safe (Updated)

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