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Using a wallet safety practices

  • Always download the wallet app through the legitimate provider’s website. Scammers may try to use phishing scams to have you download a malicious wallet.
  • Make sure to know safety practices to avoid hacks. A majority of scammers operate through phishing attempts.
  • If the wallet you use does not simulate the transaction to help you visualize the results before you sign it, always try a test transaction (with a small amount like $1) before sending large amounts.
  • Only interact with wallet support on the official website. Do not answer so-called support unsolicited phone calls.
  • Never give your private keys or seed phrases to anyone for any reason.
  • Do not enter your seed words on a website. Browser-extension wallets such as Metamask, Coinbase wallet, or Brave wallet will ask for your seed words only the first time you set it up. If you are being asked for your seed words on a window that looks like a browser-extension wallet, it is likely it is a phishing malicious website.
  • Use a hardware wallet for significant amounts (not small ones) if you can. A hardware wallet has no Internet connection, so it’s extremely difficult for an attacker to infect it with malware. Hardware wallets also have PIN codes, so the attacker would still have a hard time getting your crypto if your wallet is physically stolen.
  • Back up your seed words correctly. If you do not back up your seed words, you will lose access to all your cryptocurrency when your device crashes. Do not rely on your memory, even if you are extremely intelligent. We have seen too many users lose access to their seed words. Back up your seed words on a physical piece of paper and keep the backup safe where it cannot catch fire or get water damage. Do not keep plain text copies or screenshots of your seed words on your PC; hackers could access them.  Keep the location of your physical backup a secret.
  • Never take a picture or screenshot of your seed phrase. Scammers may steal it.
  • And as always, do not assume it is true; verify with platforms like Chainabuse.

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