Wallet Security & Best Practices
Keep your software up-to-date: Regularly updating your wallet software ensures that you have the latest security features and bug fixes.
Use strong and unique passwords: Avoid using easily guessable passwords such as 123456 or password, and use a password manager to generate and store unique and secure passwords.
Enable two-factor authentication (2FA): 2FA adds an extra layer of security to your account by requiring a second method of authentication, such as a one-time code sent to your phone, in addition to your password.
Use a hardware wallet: Hardware wallets, such as Ledger or Trezor, offer a high level of security for storing cryptocurrencies offline.
Keep your recovery phrase or seed words safe: Your recovery phrase or seed words are used to restore access to your wallet in case you lose your device or forget your password. Store them in a safe place and do not share them with anyone.
Be cautious of phishing scams: Phishing scams can trick you into revealing your private key or seed words. Always double-check the URL of a website and look for signs of a secure connection, such as a green lock icon, before entering sensitive information.
Keep a backup of your wallet: Regularly backup your wallet and store the backup in a secure location, such as a safe or a secure storage device.
Avoid storing large amounts of cryptocurrencies in a single wallet: Consider using multiple wallets and spreading your holdings across them to reduce the risk of loss in case of a security breach.
Sources:
Ledger: Which Crypto wallet is the best https://www.ledger.com/academy/basic-basics/owning-and-using-it/how-to-choose-your-hardware-wallet
Trezor: Security best practices (https://trezor.io/security-best-practices/)
