As we created an asset for our community we would like to keep them safe and secure.
With the advancements in technology, our world has changed for the better. Still, it has added increased personal accountability of preserving our online safety. Presently we see ever-growing crypto phishing attempts where bad players are seeking to scam the inexperienced.
Wondering what the best methods to safeguard your precious cryptocurrency assets are? Let’s take a glimpse here at how to stay safe and shield your funds.
- Begin with a Solid Foundation for Your Wallet
Ensure your device is free of any malware, and never install your Wallet onto a rooted device. Download your Wallet app exclusively from the links provided on the official wallets’ site
2. Never Partition Your Recovery Phrase or Private Key with Anyone
Your assets are only as safe as you keep your recovery phrase, never share it with anyone. Holding them secret and secure is of utmost importance to protect your Wallet from any unauthorized access.
3. Save your Recovery Phrase Offline.
Evermore, store a copy of your recovery phrase stored offline! Lettering it down on a piece of paper is the most uncomplicated solution.
If you are looking for a more durable option than paper, we recommend looking at encrypted USBs. On those, you can store a text file with your wallets’ recovery password and have the USB protected by a password of your choice as well; make sure you do not forget that password.
4. There Is No Reset or Recovery Process. Always Keep a Backup
Remember always to keep a backup copy of your recovery phrase. Suppose your Cell Phone stops operating for some reason or is lost. In that case, you can recover your Wallet and restore your assets on a different device by just inserting the recovery phrase on the same app.
Your recovery phrase is the only way to recover your Wallet; lose it, and you lose your assets forever
5. Set up a Passcode or Touch/Face ID
Ensure you are the only one who has access to your Wallet; add a second verification method to it, such as a Passcode, Touch & Face ID. This will prevent anyone other than you from entering your Wallet in case you lose your device.