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Security & Safety

Estimated reading: 3 minutes
I am new to crypto & lost here

If you are a newbie in the cryptocurrency world, do not worry, just remember that everyone has been there and felt the same upon entry to this extraordinary realm.

Even the Novoos team had to start somewhere and the CEO & Founder of the $NOVO Ecosystem, K Lux, has been a victim himself of phishing, hacks and rugs when starting in crypto.

The great news is that you are not alone, Novoos has this side of the Wiki dedicated to you and others in your position, to ensure you have as much information and resources avavailable to protect yourself.

It shouldn’t be the case for an individual to learn the hard way without any direction and assistance.

Helpful Tip

The Novoos Wiki also has a Glossary which contains many different synonyms and other useful resources with definitions, you can also check out the Glossary Categories too for more information.

New crypto investors information

Cryptocurrencies are on the rise, and many people are purchasing them for the first time ever. However, whilst new investors see this as a fantastic opportunity, so do those that want to take advantage of this opportunity which includes fraudsters, hackers, con artists, and other criminal networks who view these new investors as simple pickings to make a profit.

While there are a number of problems to watch out for when investing in cryptocurrencies which is quite broad in itself, keeping your money secure is unquestionably a top priority at any given moment.

In August 2021, a breach on the cryptocurrency exchange Liquid resulted in the loss of nearly $97 million in cryptocurrency which is a vast amount to put in perspective.

In another example of this kind, $30 million in Bitcoin and Ethereum were taken from the American exchange Crypto.com in January 2022 even though Crypto.com is huge in popularity and have the resources, this proves that anybody can be a target, even the biggest players in the space.

You might be wondering how to strengthen your online security and prevent your cryptocurrency from being stolen in light of all the attacks on cryptocurrency investors.

Much will be covered in this section and many resources will be provided to ensure you have the knowledge on staying safe and not falling prey to scams.

This part of the Novoos Wiki will go over the ways that hackers can steal your cryptocurrency and the precautions you can take to make it virtually impossible for you to become a victim of a scam and lose any funds.

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