What are the best practices for securing self custody crypto wallets?

3 answers

• Jan 12, 2022 · 3 years ago
  When it comes to securing self custody crypto wallets, there are several best practices to follow. Firstly, always use a hardware wallet, such as a Ledger or Trezor, to store your private keys offline. This greatly reduces the risk of your keys being compromised by malware or hackers. Additionally, make sure to enable two-factor authentication (2FA) on your wallet to add an extra layer of security. Regularly update your wallet software and firmware to ensure you have the latest security patches. Lastly, never share your private keys or recovery phrases with anyone, and consider using a passphrase for added protection.
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• Jan 12, 2022 · 3 years ago
  Securing self custody crypto wallets is crucial in order to protect your digital assets. One of the best practices is to choose a strong and unique password for your wallet. Avoid using common passwords or easily guessable phrases. It's also recommended to regularly backup your wallet and store the backup in a secure location, such as a safe deposit box. Be cautious of phishing attempts and only download wallet software from trusted sources. Lastly, consider using a multisignature wallet, which requires multiple signatures to authorize transactions, for added security.
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• Jan 12, 2022 · 3 years ago
  At BYDFi, we prioritize the security of self custody crypto wallets. One of the best practices we recommend is to use a hardware wallet, such as a Ledger or Trezor, to store your private keys offline. This ensures that your keys are not exposed to potential online threats. Additionally, enabling two-factor authentication (2FA) and regularly updating your wallet software are essential security measures. Remember to keep your private keys and recovery phrases secure and never share them with anyone. Following these best practices will help safeguard your crypto assets.
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