Disclaimer: This Inside South Florida segment is sponsored by Coinbase. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
Cryptocurrency is becoming a bigger part of the financial landscape, but many people still have questions about what it is and how to use it safely. Inside South Florida sat down with Jeff Lunglhofer, Chief Information Security Officer from Coinbase, to break down what crypto is, why it matters, and how to protect yourself when using digital currency.
Think of cryptocurrency as digital money. “It’s a quick and easy way to send $20 to a friend… or even send money overseas to family members… instantly, with low or no fees,” Lunglhofer explained. The key benefit? No bank required—a feature that makes crypto unique compared to traditional financial services.
While many people in the U.S. have bank accounts, credit cards, and access to loans, millions still don’t—and globally, that number is even higher. Cryptocurrency offers financial freedom, especially for those who lack access to traditional banking. “At Coinbase, we believe that unlocking and granting that financial freedom to people everywhere is a key part of people just being more free in their day to day lives,” Lunglhofer said.
While crypto offers convenience, safety is key. Lunglhofer shared three critical tips:
- Use a reputable company – Choose a trusted platform like Coinbase for security and transparency.
- Enable extra security features – Use two-factor authentication (2FA) and other available login protections.
- Never send money to strangers – If someone calls, emails, or texts asking for crypto, be suspicious and don’t send money.
As with any financial space, scammers are present in crypto. To stay safe:
- Ignore unexpected messages – Be wary of calls, emails, or texts claiming to be from your bank or a crypto exchange.
- Go directly to official websites – Instead of clicking links, visit Coinbase.com or your bank’s official site manually.
- Verify before acting – If someone asks for money, stop and verify by reaching out to the company directly.
With the right knowledge and precautions, cryptocurrency can be a powerful tool for fast, secure, and accessible financial transactions. For those interested in learning more about crypto and security, Coinbase offers articles and resources atCoinbase.com.
