Crypto Scammers stole $14 billion from people last year.
Proper management of your crypto funds can stop that.
This was inspired by @thedefiedge. Check out his tweets to learn more about DeFi.
A public key = bank account number.
You can send and receive crypto using this address.
Your Private key = ATM Pin
Don't share it.
You get your seed phrases when creating a wallet for the first time.
Never share it, or you lose your coins for good.
These are physical devices that hold your private keys.
No transactions can happen unless you physically confirm.
Wallet and Hardware devices are the keys to your funds.
So if your Ledger gets lost, you still have access to your money with seed phrases.
Buy a @ledger nano S straight from the website, not from Amazon or resellers.If you can afford it, grab the Nano X over the Nano S.(More storage and a sleeker interface)
Most hot wallets like Metamask will allow you to connect with a device.
@Ledger has an advanced feature that lets you create a secret 25th password.
Don't store them on dropbox, a USB stick, or your password manager.
Note your seed phrases down.
There are cheaper options out there like an engraving pen.
You break your seed phrases into parts. Distribute them to different people/places.
It's kinda like Lord Voldemort broke his soul into different pieces and put them in the Horcrux.
Someone freezes his Seed Phrases in tomato soups, and stores them at the bottom of his deep freezer.p.s. safety deposit boxes are NOT safe
Use Google's Authenticator app only.
Don’t use SMS authentication. Hackers can get a duplicate sim card from your phone company. And then bypass your 2FA.
Eg. one main laptop to do everything, and a separate laptop just for transactions.
In case the main laptop gets compromised, all they can steal is the hentai collection.
But your coins will be safe.
VPN are like the condoms of the internet.
Never use public wifi without a VPN.
The most secure is @mullvladnet.
They keep ZERO information about you.
Think of it as a "shield" for your internet.Every incoming/outgoing action must be approved or added to the white list.Windows: Win10 has an amazing built-in FirewallMac: @littlesnitch
You can set limits with the Custom Spending Limit feature.
Use the official website to find the links to the official discords, telegrams, etc.
Common fake sites include:• Fake protocols• Fake exchanges• Fake wallet sites
You can buy coins from CEX's, but send them to your wallet as soon as possible.
- Elon's account was hacked last year.
- Hackers target official discords now.
Don't fomo into things. Verify with others first.
Crypto websites related websites are always getting hacked.
Create a new email just for Crypto.
You can use @protonmail
Send a little bit first and verify that it goes through to the correct address.Even @VitalikButerin does it.
Don't be lazy and verify just the last 4 digits of the address.Read and verify the whole thing.
If you receive unknown tokens out of nowhere into your wallet, it could be a dust attack.
There could be malicious code in the smart contracts.
Don't move it.Don't touch it.
A protocol gets exploited. You're vulnerable.
At that point, you should end the contract.You can use apps like @zapper_fi or @Rabby_io to revoke contracts or go to ecosystem scanners.For ETH, use @Etherscan
For AVAX, use @SnowTraceHQ
- Always make sure you're on the official website.
- Don't connect unless you have a specific reason to.
- Disconnect once you're done.
Two Popular ways:
- Fake YouTube Live Streams
- Fake Customer Support
You will never be too careful with your money management!
Learn more about funds protection in web3.