New to the crypto world? This explainer should help.
How to securely store your seed phrases?
People often note their seed phrases in documents or write them down on paper and keep them hidden somewhere. But ask yourself, how many such notes did you lose? What if your dog eats it?
It is worth taking the risk with your cryptocurrencies? Certainly not. It’s not a good idea to write down a seed phrase giving access to all of your funds and leave it unsecured.
The security-conscious crypto users prefer to use ngrave, ledger or trezor, or at least if you must write down your seeds or use a USB key, store it inside your safe or a bank’s deposit box.
Not even the teams building blockchains can help you recover your account or wallet if you lose your Seed Phrase. As long as you keep this phrase safe and sound, your wallet will be secure.
If you’re more of a visual learner, this quick video from Metamask should help.
This has been mentioned already, but it doesn’t hurt to be thorough: anyone who has your Secret Recovery Phrase or private keys could send any tokens out of your accounts.
Phishing attacks are unfortunately an all too common threat when using the internet. Cryptocurrencies aren’t an exception. Here is an excellent writing from NGRAVE to identify and avoid the most common ones.
Never share your Secret Recovery Phrase or private keys with anyone – not even with folks claiming to be from the team.
We will never ask you for this information. If anyone claims to be a project’s team member and asks you for this information, please report them immediately.