Wallet Protection

Friendly Tips to Protect Your Investments

Unsolicited Links

A general rule of thumb for all investors, should be to never click a link they were not expecting, or is unsolicited. Bad actors are becoming increasingly advanced and link action by an unsuspecting user, may allow a third-party remote access to the user’s device.

A bad actor will send a message, which appears to show familiarity with the receiver. This leads to the receiver dropping some of their “guard” and typical security measures. Any shortened URL is an absolute red flag.

Seed Phrases

Seed phrases should never be shared with anyone, for any reason, under any circumstance.

Your seed phrase is the security measure to access and recover your wallet. If a bad actor obtains your seed phrase, they can drain all of your investments.

Do not screenshot your seed phrase when creating a new wallet. A third-party gaining access to iCloud, or your device, will give them access to your screenshots and in turn, your funds.

Seed phrases should be written on paper and stored in a secure location, or memorized. Additional cipher methods exists to further encrypt your seed phrase, even in written form.

Trust Wallet

Trust Wallet is a very widely used product, which allows users a store for their cryptocurrencies.

Trust Wallet offers some security features, which lessen the likelihood of a bad actor gaining access to your wallet.

Your Trust Wallet home screen should look like the above. To ensure you’re best protected, access the settings option in the bottom right corner.

Selecting the settings option, will provide you a screen that looks like the above photo. From here, select “security.”

Within the security settings, ensure that you toggle the app lock and transaction signing requirements to “on.” By utilizing these options, a remote attack from a nefarious group, is made much more difficult.