Crypto Security Checklist: 12 Things to Do This Week
Most crypto losses are not sophisticated hacks. They are preventable mistakes, and this list covers the ones that actually cause them.
- Never share a seed phrase — with anyone, ever
- Use an authenticator app, not SMS
- Give every account a unique password
- Verify contract addresses from official sources
- Bookmark exchanges and never search for them
- Timeframes: why the same signal means different things
- A short checklist to work from
- The mistakes that cost the most
Never share a seed phrase — with anyone, ever
No legitimate app, exchange or support agent needs it. Every single request for a seed phrase is a scam, without exception.
Use an authenticator app, not SMS
SIM-swap attacks make SMS the weakest common second factor. An authenticator app or hardware key removes that attack entirely.
Give every account a unique password
Reused passwords mean one unrelated breach compromises your exchange. A password manager solves this permanently.
Verify contract addresses from official sources
Fake tokens with real names are everywhere. Copy addresses from the project’s own site or a major aggregator, never from a reply or DM.
Bookmark exchanges and never search for them
Paid search ads impersonating exchanges are a common phishing vector. Your own bookmark cannot be spoofed.
Timeframes: why the same signal means different things
Timeframe selection is quietly the most consequential setting on any chart. A 5-minute chart is dominated by noise, execution and short-term liquidity. A daily chart shows genuine supply and demand. A weekly chart shows the trend that actually determines multi-year outcomes. None is more correct — but mixing them is how people end up taking a long-term position and managing it on a 15-minute chart.
Match the timeframe to your holding period. If you expect to hold for years, intraday movement is not information you should be acting on, and watching it will only cost you the position. If you are trading a multi-day move, the weekly trend is context rather than a trigger.
A useful convention: use the higher timeframe to decide direction and whether to be involved at all, and the lower one only to choose an entry once that decision is made. Alerts fit this naturally — set them on levels that matter on the higher timeframe, and you stop needing to watch the lower one.
A short checklist to work from
If you take one thing from this article, make it this list.
**Write the question first.** What specifically do you want to know? Vague monitoring produces vague results. **Define the condition.** A number, a percentage, or a relationship — something that is either true or false, not a feeling. **Decide the action in advance.** If nothing would change when the condition is met, do not set the alert.
**Size for the drawdown you can actually hold.** Not the one you hope for. **Check the market before reacting to the asset.** Most moves are not asset-specific. **Automate the watching.** You will not be looking when it matters. **Review monthly.** Delete what never fired and what you never acted on.
Seven lines, and doing them consistently will outperform almost any refinement of the analysis itself. The edge in this market is much less about knowing more than everyone else and much more about reacting worse than everyone else less often.
The mistakes that cost the most
Setting thresholds too tight. This is the single most common failure, and it destroys the value of the whole system: alerts that fire constantly train you to dismiss them, so the important one arrives already ignored.
Reacting to a move without checking what caused it. A fall that happens while the whole market falls is a different event from a fall that happens alone, and the correct response differs completely. Checking correlation first takes ten seconds and prevents most panic decisions.
Changing the plan mid-move. The level you chose while calm is better than the one you will choose while watching a candle. If you find yourself widening a stop or moving a target during volatility, that is the moment to close the app rather than the moment to act.
Never reviewing. Most people set up crypto security once and never look at whether it worked. A short monthly review — what fired, what you did, what you would change — compounds faster than any refinement of the setup itself.
Turning this into something automatic
Anything that depends on you remembering will eventually fail, usually at the worst moment. You will be asleep, in a meeting, on a flight, or simply not thinking about markets on the day it matters. That is not a discipline failure — it is the normal condition of having a life, and any system that ignores it is badly designed.
So convert every conclusion from this article into a condition that can be watched for you. A level you would act on becomes a price alert. A move size that would change your view becomes a percentage alert. A whole segment of the market you cannot follow coin by coin becomes one bulk rule that scans it and tells you when something unusual happens.
Set them, then close the app. The point of crypto security is not to make you watch more closely — it is to let you stop watching entirely and still be there when it counts. CoinPriceAlert sends push notifications for crypto, stocks, metals and forex, with quiet hours so nothing wakes you at 4am for a move you would not have traded anyway.
Why crypto security matters more in crypto than elsewhere
Techniques borrowed from equities often break here, and it is worth knowing why. It never closes, so there is no overnight gap in which to think — the largest moves routinely happen while your part of the world sleeps. It is far more volatile, so a position sized like an equity position behaves nothing like one. And it is heavily retail-driven, which makes sentiment swings sharper and reversals faster.
That combination is exactly why crypto security is worth getting right here specifically. Approaches that are merely helpful in a nine-to-five market become load-bearing in one that runs continuously and moves several times as fast.
It is also why automation beats attention. You cannot watch a 24/7 market; you can only decide in advance what would make you act, and arrange to be told when it happens. Everything below is built on that principle.
Risk, defined properly
Risk is not volatility, though the two are constantly conflated. Volatility is how much a price moves. Risk is the probability of a permanent loss of capital — of the reason you owned something ceasing to be true. An asset can be extremely volatile and low-risk for a patient holder, or barely move and be extremely risky if it is quietly failing.
The practical difference: volatility is survived with position sizing, risk is avoided with research. Sizing a position so that a 60% drawdown is uncomfortable rather than ruinous handles volatility. Nothing about sizing protects you from owning something whose thesis has broken.
Which is why both jobs need doing. Size for the volatility, research for the risk, and set an alert at the level where the thesis would be in question — so the review is triggered by the market rather than by whether you happened to be paying attention that week.
Never miss a move in the markets you follow
Set a price or percentage alert once and get a push notification the moment it triggers — free, with quiet hours so nothing wakes you at 3am.
Frequently asked questions
Do I need a paid app for this?
No. CoinPriceAlert is free to use for price and percentage alerts across crypto, US stocks, metals and forex. The paid tiers add the deeper analytics — trend and breakout detection, derivatives positioning, extended technical readings — and higher alert limits, but the core alerting that this article is about costs nothing.
Is any of this financial advice?
No. Everything here is general educational information about how markets and tools work, not a recommendation to buy or sell anything. Your circumstances, tax position and risk tolerance are specific to you — for decisions that depend on them, speak to a licensed professional in your jurisdiction.
What is a sensible alert threshold?
Wide enough that firing is unusual. Compare the threshold to the asset's typical daily range over the past month: if the alert sits inside that range it will fire constantly and you will stop reading it. For most large-cap crypto, 5–10% is a reasonable starting point; high-volatility assets need considerably more, and currencies need far less.
Keep reading
Sent Crypto to the Wrong Network? What Can and Cannot Be Recovered
Some of these are recoverable and some are permanently gone, and the difference comes down to whether anyone c…
SecurityTwo-Factor Authentication for Crypto: Not All Methods Are Equal
Enabling two-factor authentication is the standard advice. Which kind you enable matters more than the advice …
SecurityWhat to Do If Your Exchange Is Hacked or Freezes Withdrawals
This has happened repeatedly to venues that appeared entirely reputable. Knowing the sequence in advance is wo…
SecurityToken Approvals: The Quiet Way Wallets Get Drained
Most drained wallets were not hacked. The owner signed something that granted permission, and the drain happen…
