Beware of phishing emails and other messages of suspicious origin, especially those that contain links or attachments. You can also use a physical hardware device, also called a security key, so hackers need to steal the device to compromise an account.Ĭonsider using an encrypted email such as Protonmail. Instead, enable two-factor authentication (2FA). One easy tip is to remove all backup emails and phone numbers used for verification. Secure your email : If an attacker compromises your email account, they can quickly recover or change passwords to access your exchange account. Check your home router frequently, as you never know if your neighbors are trying to sneak through your connection. Use a VPN when using a public internet connection. Network safety : Don’t be that guy that gets their crypto stolen at Chipotle. Cold wallets are ideal for long-term storage and almost impossible to hack. Use a hardware wallet (cold storage) : Cold wallets are air-gapped devices that store your private keys and are never connected to the internet. Do not back up your keys in the cloud or email them to yourself, as servers can get easily hacked. The following is a set of recommended tips and best practices to guarantee the safety of your valuable tokens.īacking up your private keys : always write down the seed phrase and store it in a safe spot from which (only) you can retrieve it. The main threats for crypto users will generally come through their wallets or exchanges. Any third party who gets access to a wallet’s seed phrase would gain control over the assets. In the case they lose it, most of the time, their cryptocurrency is lost forever. The owner of a wallet should never share their seed phrase with anyone else. Seed phrases are also known as mnemonic or recovery phrases.
Your seed phrase is your private key in a different format and consists of 12–24 random words generated by your wallet when you set it up. Since private keys are typically made of a long string of characters, seed phrases are used as a user-friendly substitute for cryptocurrency wallets.
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Think of the private key as the password to access your email account. At the same time, the private key is needed to access the funds held in the public address and determine the actual ownership of the assets. Public keys work as the holder’s address, visible to anyone to receive tokens (just like anyone can share their email address to receive messages). Self-custody is crucial as it means that the only person who can access your account and the assets within them is no one other than you.Īny time you create a wallet, you generate a private key, along with a corresponding public key. Let’s say you are planning to hold your recently bought crypto for many years to come. This article will describe a set of strong security habits to help users keep their tokens safe for a lifetime. Far too often we hear stories of people losing their crypto to hacks, phishing attempts or by simply losing access to their wallets.
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