Random highlight for Newcomers #6: Crypto Security
Many of our support requests come from people who in various ways have lost access to their funds. This can be avoided if following a very simple but strict rule: **Keep your crypto keys safe!**
It cannot be stressed enough, even if you hold little value today doesn't mean it's worth the same in the future. The most common problem has been people losing funds in exchanges, web wallets and mobile wallets. Exchanges have been hacked, web wallets end of lifetime and mobile phones lost.
**What you SHOULD do:**
* Get the majority of funds off any exchange. What you don't need for daily trading does not belong in there.
* If owning large amounts, store majority of them in an ultra-secure wallet (hardware wallet or paper wallet). See it as your bank account Vs wallet in your pocket. But be aware of as soon as you use the paper wallet key anywhere online, it's potentially exposed already. Hence, I always recommend hardware wallets or offline signing (more in the articles below).
* Keep a backup of your master key (Nano seed or Ledger passphrase) OFFLINE and if possible physically separated from the wallet. Preferably also a backup of the backup. Even a password manager can be lost you know. This applies to ALL wallets, except exchanges.
* Keep a backup of your mobile 2FA recovery phrase if applicable
* Only trust yourself or maybe a close physical friend
**What you should NOT do:**
* Trust exchanges. A big exchange doesn't mean it's safe from disaster. They own your keys.
* Trust developers of wallets and that they will work flawlessly and forever with 24/7 support. Most of them are NOT run by a company that promises to keep your money safe.
* Think that other people owe you help for YOUR actions. It's your money and responsibility. The help you get from this community is voluntarily and NOT guaranteed.
Learn this and you will be fine. We don't want to read about your post here 5 years in the future complaining your phone is dead and you lost a fortune.
**That being ...
Juuuuuust kidding. But we did dive into the more plausible attack vectors and the current issues with the fatest crypto out right now as well as all the great things it's accomplished to date. Thanks...