Crypto Wallet Security: A 10-Point Checklist

Your Keys, Your Crypto

In the world of decentralized finance, you are your own bank. This freedom comes with the responsibility of securing your own assets. Follow this checklist to keep your funds safe.

The Essential Security Checklist

  1. Use a Hardware Wallet: For any amount you can’t afford to lose, store it on a hardware wallet from a reputable brand like Ledger or Trezor.
  2. Secure Your Seed Phrase: Write your seed phrase on paper or metal and store it in multiple secure, offline locations. Never store it digitally (no photos, no text files).
  3. Never Share Your Seed Phrase: No legitimate support team or developer will ever ask for it.
  4. Bookmark Official Sites: Avoid clicking on sponsored links or social media posts. Navigate directly to exchanges and dApps using bookmarks.
  5. Use a Dedicated Crypto Browser/PC: If possible, use a separate device or browser profile exclusively for crypto transactions to minimize malware risk.
  6. Scrutinize Transactions: Before signing any transaction, carefully read what permissions you are granting.
  7. Revoke Token Approvals: Regularly use tools like Revoke.cash to remove permissions you’ve granted to dApps you no longer use.
  8. Beware of Public Wi-Fi: Avoid making transactions on unsecured public networks.
  9. Use Strong, Unique Passwords: Secure your exchange accounts and software wallets with robust passwords and enable 2FA (Two-Factor Authentication).
  10. Test Your Recovery Plan: Periodically practice restoring your wallet using your seed phrase to ensure your backup is correct.

References:

  1. Ledger Academy: Security
  2. Trezor Blog