10 TIPS FOR SECURING CRYPTOCURRENCIES

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Recently, I have noticed an epidemic of cryptocurrency theft from OG cryptans and tokenheads of all stripes: Influential twi inflows with 50k+ subscribers, GP venture capital companies, developers with many years of experience in crypto and other users. The theft amounts to millions of dollars.

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Common mistakes are often made when storing cryptocurrencies. I decided to share non-trivial tips for storing cryptocurrencies from personal experience. Users often ask the question: How to safely store cryptocurrency?

1. Diversify your assets: use: “combat wallet” or several “combat” wallets, depending on your activity, to connect to applications, tests, giveaways, drops. And don't store cryptocurrencies in combat wallets, except for what is required to pay commissions and small expenses.

2. Use hardware wallets with a strong and unique password as your primary storage.

3. To further enhance protection, you should create a multisig wallet. Set up a multi-signature to send transactions from the storage according to the scheme: 2+1. Metamask from which the transaction is carried out + a hardware wallet as the 2nd signature for sending the transaction (analogue of 2fa). + Another hardware wallet as a spare in case you lose access or private keys. The transaction is made only after the signature of the owners of 2 wallets. First, study how multisig works and what are the risks. Using a multisig will greatly increase security, but there is also a risk of losing access to the wallet forever if the configuration is incorrect.

4. NEVER! Do not connect a hardware wallet to applications. This is your offline storage.

5. Store keys offline. You may have once saved your private key to an online document or note like Evernote. Check and remove it. Or change your wallet if you're not sure.

6. Use unique email passwords that you use. If your mail password is repeated with any password in the food delivery service, applications or anywhere else, change your password immediately. Create a password storage system. If you use password managers, then look for the most reliable provider. In memory, many compromise LastPass.

7. Do not tell anyone how much cryptocurrency you have.

8. Do not use cryptocurrency trackers installed on your smartphone. Your smartphone can get to third parties and then the entire amount that you can take possession of will be known. Nobody needs to know the whole amount. If there is a need to track the estimated value of the portfolio, then use the web version of the trackers.

9. Do not add an ENS domain to the main store and do not link the main store to social profiles.

10. Optional: if you are not sure where you store the seed phrase or private key, you can encrypt it. Write incompletely or replace any part, but on the condition that you have a backup of this part and do not rely only on memory. In case there is a possibility that you forget, then one of your relatives should know the hint on how to find the backup, but at the same time not have access to private keys. Keep the recording separate from your computer and other devices. Safe in a safe place. This may mean, for example, that if you have paper media, then make sure that it does not burn or get wet.

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