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Author Topic: How safe are crypto wallets??  (Read 295 times)
Trapezium
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July 05, 2022, 08:00:36 AM
 #21

I agree with the OP’s point to divide the investment because it’s never good to keep all your eggs in the same basket. Half of my crypto investments are with capital wallet and another half with kraken. I’ve enabled an extra layer of security in both because I can’t take any chances.
xSkylarx
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July 06, 2022, 03:42:26 PM
 #22

Is anybody using multiple wallets here? If yes, then which ones are those, and how good are their safety features?

I use multiple wallets for different purposes. For solana network, I use phantom and sollet. For multiple-network supported wallet, I use metamask and trustwallet. Their securities are just normal for a crypto wallet. As long as you are the only one who knows its seedphrase/private key, then your assets are safe. If you really want to have a secure crypto wallet, then having a hardware wallet is your best option.
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July 06, 2022, 04:21:02 PM
 #23

If you have a lot of crypto assets, you should buy yourself a hardware wallet, there is no 100% guarantee when using a hardware wallet but it is the safest wallet available today. You can also split assets into different wallets, which will reduce the risk of being hacked by hackers.

Which wallet to use and how much is part of protecting your assets, the most important thing is how to best secure your private keys. It depends on how you store and keep them.

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July 06, 2022, 04:57:25 PM
 #24

For multiple-network supported wallet, I use metamask and trustwallet. Their securities are just normal for a crypto wallet. As long as you are the only one who knows its seedphrase/private key, then your assets are safe.
Metamask or trustwallet both are hot wallet, connected directly with online. I don't think they are safe enough. There are hundreds of example of people getting tricked because they use this kind of hot wallet to store their crypto. These are indeed one of the most risky wallet. No matter what, as long as your wallet is in online, it's nit anymore safe.
I use this types of wallet only for regular transaction purpose with a small amount of crypto asset but never used to store my asset for long term nor to store even a decent amount for few days.

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July 06, 2022, 05:11:44 PM
 #25

yes you can use multiple security. but the attacker cant get in if you dont shere your secret kye Whit him. last week my friend lose his all founds from trust wallet because he shere his phrase to unknowns website. just dont shere that one thing
Its the worst thing a user would do and why would you share a key to your gold treasure? It means a total 0 balance to that wallet. How to add multiple layer of security when there is common one to use. 2fa, mobile and different authentication is good but sometimes this can still be compromised. Users can enable this for additional layer but it doesnt mean we are totally safe with that.

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