Keeping Your Wallet Secure: Best Practices for Ongoing Safety
Setting up your crypto wallet securely is the first step, but maintaining that security is an ongoing process. Remember the golden rule of self-custody: You are your own bank. This means you are solely responsible for protecting your assets. Here are essential best practices to adopt for long-term wallet safety.
1. Seed Phrase / Recovery Phrase: Guard It Relentlessly (Recap)
This is the most critical aspect:
- Keep it OFFLINE: Never digital (no photos, files, cloud). Write it down physically.
- Keep it SECURE:** Store physical copies in multiple safe, private locations.
- NEVER Share It:** No legitimate entity ever needs it.
(See the Wallet Setup Guide for full details).
2. Strong Passwords & App Authentication
- Use unique, strong passwords for wallet apps/software.
- Enable Biometrics/App 2FA if available for app access (distinct from seed phrase).
3. Secure Your Devices & Network
- Keep OS, Browser, and Wallet Apps Updated (Security Patches!).
- Use Reputable Security Software (Antivirus/Anti-Malware).
- Avoid Public Wi-Fi for transactions/wallet access. Use trusted networks or a VPN.
- Beware Malware: Be cautious with downloads and links.
4. Only Use Official Software Sources
Download wallet apps and updates **only** from official websites or official app stores. Verify publishers.
5. Bookmark Official Sites
Avoid phishing. Create and USE bookmarks for exchanges, DEXs, web wallets, and official project sites.
6. Use Hardware Wallets for Significant Holdings
- Why? Private keys stay offline, safe from online threats.
- Best for: Larger amounts, long-term holding ("HODLing").
- Strategy: Use hot wallets (mobile/browser) for small, active amounts. Store the majority safely on a hardware wallet.
7. Regularly Review & Revoke Contract Approvals (CRITICAL!)
When you use dApps/DEXs, you grant contracts permission ("approval") to spend your tokens. These approvals can remain active and pose a risk if the dApp's contract is exploited.
🚨 Check & Revoke Unnecessary Approvals! 🚨
Periodically check which contracts have permission to spend your tokens:
- Use reputable "approval checker" tools like Etherscan/BscScan Token Approval Checkers, Revoke.cash, Cointool App, Unrekt. (DYOR on these tools first! Ensure you are on the legitimate site.)
- Connect your wallet carefully to these tools to view granted allowances.
- Revoke permissions you no longer need, especially unlimited approvals or those for dApps you don't trust/use anymore. (Revoking costs a small gas fee).
This significantly reduces risk if a dApp you used gets hacked.
8. Stay Skeptical & Vigilant (Recap)
- Be wary of Phishing, Fake Airdrops, Impersonation scams. (See the Common Scams Guide).
- Assume unsolicited messages are scams. Question everything. Verify before clicking/connecting.
9. Consider Using Multiple Wallets
- A "hot" wallet (e.g., MetaMask on browser) for frequent DEX use with small amounts.
- A separate "cold" wallet (ideally hardware) for main savings/holdings.
- This compartmentalizes risk.
Conclusion: Security is Your Ongoing Responsibility
Protecting your crypto requires continuous effort. By implementing these best practices – guarding your seed phrase, securing devices, using hardware wallets, managing approvals, and staying vigilant – you significantly reduce your risk. Remember, in self-custody, the security buck stops with you.