How to Secure Our Wallet to Prevent Being Hacked!

[Rana590]

We store our valuable cryptocurrencies in various wallets. In this case, it is important to ensure the security of our wallet. I have come up with some points that can help you to secure your wallet:

1. Hardware Wallet
It is better to use hardware wallet because it is more secure than software wallet. Yes, we have to pay for this but if you think about safety of your assets, you'll be ready to buy hardware wallet like Ledger Nano S/ TREZOR.

2. Install/ Download Chrome Extension
We can prevent being hacked if we download and install chrome extension. Mew chrome extension and MetaMask chrome extension are available to install.

3. Bookmark Original Website
We can bookmark all the important/legit websites that we have to access regularly. We can use those bookmarked website safely without input manually.

4. Check Balance
It is not necessary to check our balance everytime by entering our private key. We can easily be able to check our balance and transaction from:

(a) https://etherscan.io/
(b) https://bscscan.com/
(c) https://tronscan.org/
(d) https://www.blockchain.com/explorer

At the time of transaction, we can use our private key. If possible, store private key offline.

5. Don't Trust SSL Only
Just because a website uses an SSL certificate does not mean that the website is completely secure. Buying an SSL certificate is not a complicated matter. We should double check the website before entering private key.

6. Don't Click on Attractive Offers
At the time of browsing, we see many interesting offers that we should not click on because no one will give you free money without doing anything. Sometimes we get such kind of shit offers on gmail/social media. Also, we should more conscious about downloading any app or file.

7. Enable 2FA
It is important to enable 2fa if our wallet serve this feature. We can use google authenticator, mobile number and gmail as 2fa method.

8. Free Wifi
We shouldn't use free wifi at all and by using free wifi, we can lose valuable personal data. Hackers can collect those data for entering your wallet.

Lastly, we should use our brain. Awareness can keep us safe on the internet.

"I might be wrong, please pardon my mistakes."

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[Charles-Tim]

Making use of hardware wallet keeps the private key offline, but paper wallet and wallet on airgapped devices also keep private key offline. For convenience and frequently transactions, hardware wallet can be used. To hodl, paper wallet or airgapped wallet can be used, also hardware wallet is still highly recommendable for holding as well.

Chrome itself is a broswer, and online, chrome extension wallets like matamask wallet and myetherwallet wallet do not support bitcoin (correct me if wrong), also they are just web wallets, web wallets are most vulnerable in design, and private key is online.

Why checking balance on blockchain explorer? To even sum up the whole total balance, master public key will be required, inputting that on a website that can track your IP address or other such things will not be recommended, why not just check your balance on your wallet directly. Also, I have not seen how private key will be so necessary to check balance when you can do that on your wallet directly, or making use of watch-only wallet for the purpose.

Noncustododial wallet most likely not requiring 2fa like custodial wallets and exchanges. The noncustododial wallets that support 2fa (which is not compulsory) is also a way to protect the wallet in case, but there are other three ways to create a wallet on electrum that do not require 2fa, viz: standard wallet, multisig and cold electrum wallet with its watch-only. 2fa can help in security and safety, but reading the feeassociated with it is very important.

[mk4]

Making use of hardware wallet keeps the private key offline, but paper wallet and wallet on airgapped devices also keep private key offline. For convenience and frequently transactions, hardware wallet can be used. To hodl, paper wallet or airgapped wallet can be used, also hardware wallet is still recommendable for holding as well.

True. I think we should kinda stop mass recommending paper wallets to literally everyone though. Creating a paper wallet sure is easy as heck, but creating a paper wallet correctly and securely most probably isn't especially for those who barely know anything about security. Hardware wallets are still the better sort of 'mass recommendation' option in my opinion.

[bitmover]

Making use of hardware wallet keeps the private key offline, but paper wallet and wallet on airgapped devices also keep private key offline. For convenience and frequently transactions, hardware wallet can be used. To hodl, paper wallet or airgapped wallet can be used, also hardware wallet is still recommendable for holding as well.

True. I think we should kinda stop mass recommending paper wallets to literally everyone though. Creating a paper wallet sure is easy as heck, but creating a paper wallet correctly and securely most probably isn't especially for those who barely know anything about security. Hardware wallets are still the better sort of 'mass recommendation' option in my opinion.

Fully agree.

I think paper wallets are very dangerous for newcomers. A lot people will just unplug the computer and generate their keys in some random website.
I have seen a lot of people here talking about losing their coins using paper wallets and asking for help here.

Hardware wallets are safe. They are not 100%, but you only lose your coins if you store your seed in your Gmail or something idiot like that. The vulnerabilities are ridiculous, like the "evil hacker maid", and will only happen in movies.

There are far too much more attack vectors in a paper wallet generation than in a hardware wallet.

Paper wallets are safe only if you know exactly what you are doing and make a lot of research before doing it. Hardware wallets are expensive now, they are not as cheap as they used to be (at least in my country) but they are the best option imo.

[Bitbtc8]

I have a fam that use metamask to store some BTC and he lost it all when using in crime browser, for someone who actually know about phishing and spywares he was so careful, well the fact is using wallet in browser add-on can never be 100% safe, when you start using that browser to go into different websites anything is possible

[tranthidung]

2. Install/ Download Chrome Extension
We can prevent being hacked if we download and install chrome extension. Mew chrome extension and MetaMask chrome extension are available to install.

I don't want to use wallet extensions and if I have other wallets to use, I will not install any extension on my browsers.

Perhaps I am too paranoid about risks and I admit that I don't have skills to verify any extension. Consequently, I would prefer to make prevention as it is better than cure.

[ranochigo]

We can prevent being hacked if we download and install chrome extension. Mew chrome extension and MetaMask chrome extension are available to install.

No. Chrome extensions are why people are getting hacked.

It is not necessary to check our balance everytime by entering our private key. We can easily be able to check our balance and transaction from:

(a) https://etherscan.io/
(b) https://bscscan.com/
(c) https://tronscan.org/
(d) https://www.blockchain.com/explorer

At the time of transaction, we can use our private key. If possible, store private key offline.

5. Don't Trust SSL Only
Just because a website uses an SSL certificate does not mean that the website is completely secure. Buying an SSL certificate is not a complicated matter. We should double check the website before entering private key.

Please DO NOT key your private key into any website.

Storing your private keys offline doesn't make anything more secure. You'll probably be looking at making an air-gapped wallet in this case.

7. Enable 2FA
It is important to enable 2fa if our wallet serve this feature. We can use google authenticator, mobile number and gmail as 2fa method.

2FA is not perfectly bulletproof against malware attacks. There are many variants of malwares which seeks to exploit the user differently and the most common one is a clipboard malware which your 2FA won't protect unless you double check your transactions.

[ZaebaloRegitsa4]

The hardware wallet has a distinct advantage: this forms a transaction within itself. Your keys never enter the PC's memory. Any other wallet will require you to enter your keys / phrase / password into your PC. And it can be intercepted.
The recipient's address can also be swapped. Viruses have become so wiser that they choose a visually similar address that will be swapped. If you are not careful, you can send crypto to someone else's address. The hardware wallet offers a check on the display. If you are attentive, it excludes the swap.

[Upgrade00]

The hardware wallet has a distinct advantage: this forms a transaction within itself. Your keys never enter the PC's memory. Any other wallet will require you to enter your keys / phrase / password into your PC. And it can be intercepted.

If you own two devices, you can initiate a transaction without your keys being exposed to an internet connection.
One device would hold the actual wallet; this should be an airgapped device.
The other would contain the watch only wallet, this does not have to be airgapped.

If you initiate a transaction on the watch only wallet, you can copy or scan the raw transaction into the other device for signing and then send it back to the watch only to be broadcasted.

You would of course still need to be extra cautious when making transactions, but the potential risk is reduced.

[Welsh]

True. I think we should kinda stop mass recommending paper wallets to literally everyone though. Creating a paper wallet sure is easy as heck, but creating a paper wallet correctly and securely most probably isn't especially for those who barely know anything about security. Hardware wallets are still the better sort of 'mass recommendation' option in my opinion.

I agree, its usually not a requirement for everyone. However, theoretically it is more secure to create a offline paper wallet, or a offline wallet than use something like a hardware wallet. Despite, them being pretty good, and pretty sound they still have a way of attack. Whereas, paper wallets, and offline wallets are only ever compromised through user mistakes, usually upon creating them or losing the credentials.

So, although I do agree, it entirely depends on the needs of the person. If you are storing large amounts, then a offline could be the better solution. Its goal specific as with anything.

[mk4]

I agree, its usually not a requirement for everyone. However, theoretically it is more secure to create a offline paper wallet, or a offline wallet than use something like a hardware wallet. Despite, them being pretty good, and pretty sound they still have a way of attack. Whereas, paper wallets, and offline wallets are only ever compromised through user mistakes, usually upon creating them or losing the credentials.

So, although I do agree, it entirely depends on the needs of the person. If you are storing large amounts, then a offline could be the better solution. Its goal specific as with anything.

True. It's just that a very very small minority(probably sub 1%) has the knowledge to create a paper wallet correctly. Though I'd like to think of myself as a decently(definitely not an expert-level) technical person, I still don't have THAT much of a confidence to create one correctly.

[Charles-Tim]

True. It's just that a very very small minority(probably sub 1%) has the knowledge to create a paper wallet correctly. Though I'd like to think of myself as a decently(definitely not an expert-level) technical person, I still don't have THAT much of a confidence to create one correctly.

Although, some people do think paper wallet are only the wallet generated from sites like bitaddress, some sites like that have even been turned scam in the past, which increase the risk of generating such paper wallet, but although bitaddress remains one of the legit ones as of the time I post this. But, paper wallet in my opinion have gone beyond that, if I have an offline or airgapped phone, downloaded electrum wallet, transferred to the offline or airgapped phone, and I open the wallet to generate seed phrase. Having like five addresses with me, and I deleted the wallet after I backup the seed phrase on paper, I think that is still a paper wallet which you pretty have good knowledge about. But people only think of sites like bitaddress when thinking of creating a paper wallet.

[ZaebaloRegitsa4]

If you own two devices, you can initiate a transaction without your keys being exposed to an internet connection.

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

[Refrumatrix]

Paperwallet, written seeds on stainless steel, backup inside mail or buying hardware wallet, all these doesn't mean your coins are safe because it still depends on the users themselves, you can't be careless and using a crypto wallet you will eventually do the most stupid thing on day, you can to be a disciplined person to handle your wallet

[dihari]

Hardware wallet is the most secure and recommended way to store your crypto right now. Even a newbie can use hardware wallet like ledger nano.

I have made similar topic about how to keep your bitcoin secure sometime ago. Maybe it will give people more references on how to secure their crypto. Check it out https://bitcointalk.org/index.php?topic=5322794.msg56528845#msg56528845

[Oshosondy]

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

Try to read the post very well, having a cold wallet offline generating digital signatures for transactions and watch only wallet for tracking the transactions and balance is very safe, it is even one of the safest ways to make use of online wallet in an offline way.

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

Ledger nano is not a paper wallet. How can someone outsmart himself while using paper wallet? That is not clear at all.

[lovesmayfamilis]

Paperwallet, written seeds on stainless steel, backup inside mail or buying hardware wallet, all these doesn't mean your coins are safe because it still depends on the users themselves, you can't be careless and using a crypto wallet you will eventually do the most stupid thing on day, you can to be a disciplined person to handle your wallet

I agree. In addition to all the rules that were advised above, do not forget about your behavior on the network. You shouldn't tell anyone about the amount of your cryptocurrency, thereby stirring up interest in your funds among hackers.
In addition, your systems must be constantly updated.  Your applications must be up to date. And of course, don't turn your back on antivirus software. I would not spare money to purchase a licensed antivirus that regularly updates its antivirus databases.
Your mail should only be used for specific purposes. You shouldn't use it for every need. Likewise, passwords must be complex and have the correct storage.
As for the Chrome browser, its store is full of extensions that have been caught spying on users, which can lead to further loss of funds. I prefer the Firefox browser.
And these are just some ways to keep your wallets safe. It is always necessary to remember that only you are responsible for the safety of your wallets. And how you feel about it will be an indicator of your safety.

[HashingTower]

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

Try to read the post very well, having a cold wallet offline generating digital signatures for transactions and watch only wallet for tracking the transactions and balance is very safe, it is even one of the safest ways to make use of online wallet in an offline way.

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

Ledger nano is not a paper wallet. How can someone outsmart himself while using paper wallet? That is not clear at all.

Been careless is not outsmart, it's true that some people are so freaking careless, even if they use hardware wallet they can still lose their assets in many different ways, there are crypto mobile wallets users that never lost their assets for many years you know

[posi]

Chrome itself is a broswer, and online, chrome extension wallets like matamask wallet and myetherwallet wallet do not support bitcoin (correct me if wrong), also they are just web wallets, web wallets are most vulnerable in design, and private key is online.

Metamask does support Bitcoin but it require some technical elaboration and it done through BEP2.0 (BSC) integration.
About myerherwallet have once seen a buying Bitcoin option on it but I never try it out so I don't if support it or not.

[Charles-Tim]

Metamask does support Bitcoin but it require some technical elaboration and it done through BEP2.0 (BSC) integration.
About myerherwallet have once seen a buying Bitcoin option on it but I never try it out so I don't if support it or not.

BEP2:- Binance Chain
BEP20:- Binance Smart Chain (BSC)

I believe you meant BSC (BEP20)

But the normal bitcoin we meant is the one that its addresses starts from 1, 3 or bc1 which makes use of bitcoin blockchain for its storage and ledger, not a smart contract.