Across the last couple of years, the crypto sphere in Australia has taken off, drawing ever more Aussies to Bitcoin, Ethereum, and a host of altcoins. Yet, as a growing number are pouring money into digital assets, scammers, hackers, and other opportunists have raised the ante.
The truth? Crypto security is no longer optional. Whether you’re holding $200 or $200,000 worth of digital assets, your coins are a target. And the sad part is—most crypto losses happen not because of market crashes, but because someone got careless with security.
Now let’s discuss the vital crypto security guidelines every Australian cryptocurrency user needs to follow in 2025—ranging from activating 2FA to keeping funds in hardware wallets and steering clear of common pitfalls.
1. Be Sure To Use 2FA Across Every Platform
Two-factor Authentication (2FA) is like affixing a deadbolt to your cryptocurrency accounts. In contrast to relying solely on a password (which could be compromised), 2FA introduces a second layer of defense by demanding a one-time code that’s either delivered to your device or generated inside an app like Google Authenticator or Authy.
Anytime you log in to Binance Australia, CoinSpot, or Independent Reserve, two-factor authentication must be mandatory. But don’t stop there—enable it for your email account too. Why? Because if a hacker gets into your email, they can reset your crypto exchange password and drain your funds in minutes.
Pro Tip: Avoid using SMS-based 2FA when possible. SIM-swap attacks, in which scammers hijack your phone number, pose a serious threat in Australia. Rather, use an authenticator app or a hardware security key.
2. Store Your Cryptocurrency For The Long Term In A Hardware Wallet
If you keep your coins on an exchange, you’re trusting that exchange to keep them safe. And as history has shown, even the biggest platforms can get hacked. Remember Mt. Gox? QuadrigaCX? Even major exchanges in 2023 faced breaches.
For this reason, a serious investor must employ a hardware wallet—such as Ledger Nano X, Ledger Nano S Plus, or Trezor. By keeping your private keys fully offline, such devices shield themselves against online attackers, requiring a criminal to have both your hardware device and its PIN before they can acces them.
Put it this way:
- Hot Wallet (online) = Greater convenience, greater risk.
- Cold Wallet (offline hardware wallet) = Less convenient but MUCH safer.
If you’re holding coins for months or years, get them off the exchange and into a hardware wallet.
3. Never Share Your Private Keys or Seed Phrases
This one might sound obvious, but people still fall for scams where they’re tricked into giving away their recovery phrase.
Your seed phrase is basically the master key to your crypto wallet. If anyone has it, they have 100% access to your funds. No “reset password” button. No customer service to call.
Perforate your seed phrase on paper, store it securely out of sight—in a locked safe or safety-deposit box—and never store it as a plain-text file on any computing device.
4. Take Care To Avoid Phishing Scams
Phishing is when scammers pretend to be a legitimate service—like your exchange, wallet provider, or even the ATO—to trick you into clicking a link and entering your login details.
Phishing emails and fake websites have gotten scarily convincing. Some even buy ads on Google to appear at the top of search results for “CoinSpot login” or “Binance Australia.”
Safety tips to avoid phishing:
- Always type the exchange’s URL manually.
- Bookmark official sites.
- Do not follow login links arrived via email or social-media messaging.
- Make sure the lock icon appears and that you’re on the correct domain name before entering any details.
5. Keep All Your Devices Secure
Once a hacker infiltrates your phone or laptop, your cryptocurrency is on the line, too. Thieves can slip keyloggers—software that logs every keystroke—along with screen-grabbing apps and even remote access tools onto your device without you ever realizing it.
To protect yourself:
- Install antivirus software.
- Steering clear of downloads from suspicious sites.
- Carefully keeping the operating system and all apps up to date.
- Employing a robust password or relying on biometric authentication to log into your devices.
6. Stay Updated
Australia’s crypto-related regulations are shifting swiftly. Both the Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Securities and Investments Commission (ASIC) are steadily tightening their compliance requirements.
“What makes this so important from a security perspective?” Should anything gone awry when you trade on unregulated or overseas exchanges, you’ll essentially have no safeguard in place. Bringing your trading to licenced Australian platforms such as CoinSpot, BTC Markets, or Independent Reserve can mitigate your risk.
7. Use public Wi-Fi Cautiously
Wi-Fi in cafés, airports, and hotels is precisely what a hacker dreams about. Should you connect to your exchange on a public network, a third party might snoop on your transaction.
Whenever you’re obliged to use public Wi-Fi to log in to your account, make sure you first activate a VPN (Virtual Private Network) to secure your connection.
Also Check: How to Spot Fake Crypto Exchanges in Australia (2025 Guide)
8. Verify twice before you buy a deal that seems “too good to be true”.
If someone tells you you’ll receive free Bitcoin, or promises guaranteed returns or secret investment opportunities—head for the door. Instead of the classic lottery scam, today’s Aussie con artists are crafting ever more inventive schemes, from faked celebrity endorsements and bogus investment apps to Telegram-driven pump-and-dump schemes.
No legitimate crypto project will ask you to “send funds to double your money.”