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Wallet Security Best Practices

Why Security Matters 🛡️

Your crypto wallet is like a bank account. But unlike traditional banks:

  • No password reset option
  • No customer support to recover funds
  • No insurance for lost tokens
  • No way to reverse transactions

Choose Your Wallet Type 💼

Hardware Wallets (Most Secure)

These are physical devices that look like USB sticks:

✅ Recommended for:

  • Storing large amounts
  • Long-term holding
  • Maximum security

Popular options:

  • Ledger Nano X/S
  • Trezor Model T/One

Software Wallets (More Convenient)

Apps on your phone or computer:

✅ Good for:

  • Daily transactions
  • Smaller amounts
  • Regular use

Trusted options:

  • Keplr (Web/Mobile)
  • Cosmostation (Mobile)
  • Leap Wallet (Web/Mobile)

Seed Phrase Protection 🔑

What is a Seed Phrase?

  • 12 or 24 words that give access to your wallet
  • Like the master key to your crypto
  • Cannot be changed or reset
  • Must be kept absolutely secret

How to Store Your Seed Phrase

✅ DO:

  • Write it on paper (multiple copies)
  • Store in waterproof container
  • Keep in secure location(s)
  • Consider a metal backup

❌ NEVER:

  • Store digitally
  • Take a photo
  • Email to yourself
  • Share with anyone
  • Store in cloud

Example Setup:

  1. Write seed phrase on paper
  2. Make 2-3 copies
  3. Store in:
    • Home safe
    • Safety deposit box
    • Trusted family member's safe

Practical Security Steps 📱

Setting Up a New Wallet

  1. Clean Environment

    • Use private space
    • Close unnecessary apps
    • Disconnect from internet (for seed phrase creation)

  2. Installation

    • Only download from official sources
    • Verify website URLs carefully
    • Check app signatures/hashes

  3. First Setup

    Example steps for Keplr:
1. Install from Chrome Web Store
2. Create new wallet
3. Write down seed phrase
4. Verify each word carefully
5. Test with small amount first

Daily Security Practices

1. Device Security

  • Use device password/PIN
  • Enable biometrics
  • Keep software updated
  • Use antivirus

2. Transaction Safety

Before sending:
1. Double-check addresses
2. Verify amounts
3. Check network fees
4. Use our verification bot:
   /tx_h {transaction_data}

3. Access Protection

  • Enable 2FA where available
  • Use strong passwords
  • Don't share screen during transactions
  • Lock wallet when not in use

Red Flags to Watch For 🚩

Common Scams

  1. Fake Websites

    • Look similar to real ones
    • Slight URL differences
    • Asking for seed phrase

  2. Suspicious Messages

    • "Verify your wallet"
    • "Claim free tokens"
    • "Update required"
    • "Support" in DMs

Example of Real vs Scam:

Real: wallet.keplr.app
Scam: wallet-keplr.app
Real: Never asks for seed phrase
Scam: "Verify your wallet by entering seed phrase"

Emergency Procedures 🚨

If Your Wallet Is Compromised:

  1. Immediate Actions

    1. Don't panic
2. Create new wallet immediately
3. Transfer remaining funds
4. Document everything

  2. Contact Support

    • Report to relevant teams
    • Document incident
    • Save all evidence

  3. Recovery Steps

    1. Set up new wallet
2. Use different seed phrase
3. Review security practices
4. Update all passwords

Emergency Contacts

Security Checklist ✅

Daily:

  • Lock wallet when not in use
  • Verify addresses before sending
  • Check transaction details
  • Use secure internet

Weekly:

  • Check for wallet updates
  • Review recent transactions
  • Monitor authorized apps
  • Update device security

Monthly:

  • Security audit
  • Check backup status
  • Update passwords
  • Review connections

Common Questions ❓

"How much should I keep in a software wallet?"

Only what you need for regular transactions. Main holdings should be in hardware wallet.

"What if I lose my hardware wallet?"

Your funds are safe if you have your seed phrase. Buy new device and restore.

"Should I store seed phrase digitally if encrypted?"

No. Any digital storage increases risk. Stick to physical backups.

Remember: Security is ongoing. Stay informed, stay cautious, stay safe!

Need help? Join our Telegram or Discord