A strong start to 2023 has been followed by a sudden reversal in early March, with Bitcoin down under $20k from a high of over $25k in mid-February. Top authorized crypto wallets and accessories retailer The Crypto Merchant announces an overview of the current crypto market – and emphasizes the importance of crypto security during bearish market cycles.
Driven by recent events including an unexpectedly strong inflation report and the crypto-focused lender Silvergate Bank’s collapse on March 8, the recent bearish trend is part of a fairly predictable series of ups and downs that have kept the crypto market highly volatile over the past 24 months, explains the company.
And while asset holders prioritize security during bullish cycles, the opposite dynamic emerges during slower markets – which increases overall vulnerability to crypto theft, according to The Crypto Merchant.
2022 has seen a record high in crypto theft, with close to $4 billion in stolen assets, according to a Chainalysis report – and it’s no surprise that it all came in a relatively slow year for Bitcoin, says the New York crypto e-store.
The Crypto Merchant urges crypto traders to follow the basic principles of crypto protection and minimize their risk in 2023.
The e-store recommends:
?” using a strong, unique password to protect one’s digital assets’
?” using two-factor authentication on their preferred exchange
?” backing up their seed words on secured devices
?” investing in robust crypto hardware wallets
The Crypto Merchant is an authorized retailer for Ledger, Trezor, Billfodl, and other top crypto security brands, offering a wide range of products and expert customer support.
“We want to help people avoid the horror stories, and have peace of mind when storing their hard earned assets,” said a company representative. “All of our products are brand new, ship from our secure warehouse facility, and are sourced directly from our brand partner’s factories with full warranty included. We keep an extremely close eye on every step of the process. Because of our long standing partnerships with the top brands in crypto security, our wallets are guaranteed 100% authentic and verified secure.”
About The Crypto Merchant
Since 2017, the New York-based cryptocurrency e-store has been providing crypto wallets, seed phrase storage kits, cases, and accessories from leading brands including Trezor, Ledger, and Exodus. The Crypto Merchant offers a curated selection of products and a comprehensive database of authentic product reviews.
Interested parties can find more information at https://www.thecryptomerchant.com/collections/caes-accessories
The Crypto Merchant
609 South Ridgewood Avenue
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.
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