How to protecting your crypto wallet.

[Olotu20]

As crypto currency gradually breaks, through the Nigerian society, and as more awareness is created when it comes to crypto currency especially the use of Bitcoin in our Nigerian society. This has led to a massive adoption rate in our society. But despite the gains of significant improvement in the areas of adoption there is equally a problem when it comes to protecting our crypto holding. Alot of investors has lost their crypto asserts which is their hard earned money.

Hence the need to pay attention when it comes to protecting our crypto asserts, because the first thing should be safety first. Safety is actually a word that is commonly used in the work place when it comes to companies which engage in construction and  to a large extent production companies which expose the worker to great danger in the place of work. This word safety first also applies to the crypto community because, the first thing that every crypto currency investor should learn and know is safety first. Investors should give attention to the security of their wallet just as the states safety first.

Steps to Protect Your Bitcoin Wallet

Secure Your Recovery Seed Phrase
Writing down your 12 or 24 words security phrase and store it offline in a safe place , this will be greatly appreciated. And never save it in screenshots, emails, or even cloud storage, because doing that is dangerous and you could potentially expose your wallet and making it vulnerable to hackers and even when your phone enters the wrong hands.

Use a Strong Password
Creating a strong and unique password for your wallet should be practiced .Another thing is always avoid to  reusing passwords from your accounts. This will help to confuse people who are close to you who may have gotten used to you. This is because we should not trust anyone when it comes to our crypto holding.


Enable Two-Factor Authentication (2FA)
Always don't forget about using Two factor Authentication, because it's extra security for you measure that applies to our wallets.

Use a Hardware Wallet
If you're holding large Bitcoin holdings, it's advisable to always use hardware wallet to keep your private keys offline. This is a more safer way of safeguarding your wallet.

Keep Software Updated
Always periodically update your wallet software and device operating system to protect against security bridges which may occur due to outdated versions of the software.

Beware of Phishing Scams
Never share your seed phrase or private keys. Verify website addresses and only download wallet software from official sources.

Protect Your Devices
Use antivirus software, screen locks, and avoid connecting to unsecured public Wi-Fi when ever you are on a public place this is because scammers has learnt and has upgrade you may not know the Wi- Fi you're using may actually be a trap set by scammers which they may use in breaking into your system.managing your Bitcoin. And most importantly please do as much as possible to avoid giving your phone or PC system to strangers to do work or use this is to limit or a way of protecting your system because, you don't know who you're handing over your system to.

[Wiwo]

Nice job, mate. There is a need to always remind ourselves of the importance of privacy and security, especially since your post covers wallets and their security, which is an important aspect of our cryptocurrency journey.

Most times, newbies focus on owning cryptocurrencies like Bitcoin as assets but do not pay much attention to the security of those assets, such as which wallet is more secure than the other.

A hardware wallet is the most secure and personally controlled option. Another way to add an extra layer of security when connecting to public Wi-Fi or connecting your hardware wallet to the internet is by using a VPN, as it provides an additional level of protection to your wallet.

[Myleschetty]

The best ways to give our cryptocurrency wallet robust security are those you mentioned. However, we also need to realize, especially the newbies, that no security measure is 100% reliable. Once we own cryptocurrency, we are susceptible to sophisticated phishing, so we should avoid human error that could leave us open to attack.

[SatoPrincess]

Na better advice you talk OP. The only thing way I go add to your suggestions na the use of air gapped wallets, e go help you avoid casala from phishing attacks.

[Churchillvv]

In Addition, you’re the first security of your wallet! Secure yourself first and foremost before you consider the wallet, most times it’s our vulnerability that leads to the vulnerability of our assets l, once you no fit hold yourself from some conversation you fit leak the security of your wallet with your conscious mind, so be mindful and then use air gapped device, and also it’s good we remember that security measures that are considered best today and be vulnerable tomorrow, so always update.

[Mr.leeemzy]

As crypto currency gradually breaks, through the Nigerian society, and as more awareness is created when it comes to crypto currency especially the use of Bitcoin in our Nigerian society. This has led to a massive adoption rate in our society. But despite the gains of significant improvement in the areas of adoption there is equally a problem when it comes to protecting our crypto holding. Alot of investors has lost their crypto asserts which is their hard earned money.

Hence the need to pay attention when it comes to protecting our crypto asserts, because the first thing should be safety first. Safety is actually a word that is commonly used in the work place when it comes to companies which engage in construction and  to a large extent production companies which expose the worker to great danger in the place of work. This word safety first also applies to the crypto community because, the first thing that every crypto currency investor should learn and know is safety first. Investors should give attention to the security of their wallet just as the states safety first.

Steps to Protect Your Bitcoin Wallet

Secure Your Recovery Seed Phrase
Writing down your 12 or 24 words security phrase and store it offline in a safe place , this will be greatly appreciated. And never save it in screenshots, emails, or even cloud storage, because doing that is dangerous and you could potentially expose your wallet and making it vulnerable to hackers and even when your phone enters the wrong hands.

Use a Strong Password
Creating a strong and unique password for your wallet should be practiced .Another thing is always avoid to  reusing passwords from your accounts. This will help to confuse people who are close to you who may have gotten used to you. This is because we should not trust anyone when it comes to our crypto holding.


Enable Two-Factor Authentication (2FA)
Always don't forget about using Two factor Authentication, because it's extra security for you measure that applies to our wallets.

Use a Hardware Wallet
If you're holding large Bitcoin holdings, it's advisable to always use hardware wallet to keep your private keys offline. This is a more safer way of safeguarding your wallet.

Keep Software Updated
Always periodically update your wallet software and device operating system to protect against security bridges which may occur due to outdated versions of the software.

Beware of Phishing Scams
Never share your seed phrase or private keys. Verify website addresses and only download wallet software from official sources.

Protect Your Devices
Use antivirus software, screen locks, and avoid connecting to unsecured public Wi-Fi when ever you are on a public place this is because scammers has learnt and has upgrade you may not know the Wi- Fi you're using may actually be a trap set by scammers which they may use in breaking into your system.managing your Bitcoin. And most importantly please do as much as possible to avoid giving your phone or PC system to strangers to do work or use this is to limit or a way of protecting your system because, you don't know who you're handing over your system to.

Crypto Currency in Nigeria is becoming popular and popular by the day as its keeps growing to an unimaginable length that most of the youth in the country now know one or two things about it and many willing to invest in it but with the mentality of our youth wanting to make fast many has made many not to see it as a future wealth just because everyone need fast money this days but it now known and understood by almost everyone now and not seeing as yahoo anymore, when Crypto Currency started breaking through to the public in Nigeria and most people didn't have the idea about it, they believe anyone who claim he is into Crypto Currency are all doing online fraud but at the moment Crypto Currency has each his peak and is being noticed, appreciated and known by almost everyone.

[Tetu100]

Nice one op. This is actually a quick reminder that protecting our asset is still very important and shouldn't be neglected for no cost. However, many investor has literally forgetten the fact that protecting our assets is still part of our various investment obligation and shouldn't be taken for grant else you risk losing all you have ever laboured for throughout your life.

And again, every investor reserve the right to benefit from his labour and the only way we can be ensure of that is to take security issues very serious by ensuring every neccesary measures is well intact.

[EarnOnVictor]

How to protect one's crypto wallet is a very long list, especially the dos and don't part. Still, you've iterated some of the most important parts that must be strictly adhered to. Crypto hacking and frauds, and even loss are happening daily, and most of the successful ones are because of people's ignorance and lackadaisical attitude. This is not our bank that we can entrust the security to, we are the custodians, so we should be responsible to how we handle it and be up and doing to ensure the needed keys/passwords are kept and updated so safekeeping/privacy and security are strictly observed.

I've never been a fan of keeping anything to safeguard my electronic unlocking online, as I prefer that to be kept offline 100%, and the 2FA should be sourced from a different gadget as well.

[letteredhub]

The best ways to give our cryptocurrency wallet robust security are those you mentioned. However, we also need to realize, especially the newbies, that no security measure is 100% reliable. Once we own cryptocurrency, we are susceptible to sophisticated phishing, so we should avoid human error that could leave us open to attack.

You pulled the string right there and it's exactly what some persons needs to have in mind especially as it seems like when these security gadgets are talked about it's made to sound like they're by themself unalterable by all means 100% as something set in stone. Nevertheless, we do have a role to play in edging the advanced security of these tool which by staying vigilant while surfing the internet, avoid tapping on unfamiliar links as that could lead you to fall into a phishing attack and never for ones stop doing your investigation on any offer before giving interest.base on your findings.

[Plutomanian]

OP just made us realized how important our crypto wallet is and how we can proceed in ensuring we keep our coins safe in our wallet. These days, we get carried away with how to accumulate profits and how to trade with TA and FA and forget one of the most important thing, our wallet. Do you know if our wallet is not safe, that means our money is not also safe, it's one of the most ultimate reason we should everything we're doing discreet and safe not everything should be noticeable by the public.

You know one can never tell who is really who in the space and these scammers are just here to devour of their prey, pray you don't leak vital information because they don't always end up in good terms. The market is vast and we do everything within our reach to ensure we're reaping quite significant bids when it comes to crypto.

[Charles-Tim]

Enable Two-Factor Authentication (2FA)
Always don't forget about using Two factor Authentication, because it's extra security for you measure that applies to our wallets.

Almost all noncustodial wallet do not support 2FA. Among them, Electrum, Blockstream wallet app and Cake wallet have 2FA. Electrum and Blockstream wallet app 2FA are multisigs, but Cake wallet 2FA is different as it will not require the 2FA when you want to recover your wallet.

Use a Hardware Wallet
If you're holding large Bitcoin holdings, it's advisable to always use hardware wallet to keep your private keys offline. This is a more safer way of safeguarding your wallet.

Paper wallet and wallet on airgapped devices can also be recommended for storage of huge amount of coins.

[promise444c5]

Writing down your seed on a piece of paper is a good method of Backup.. but multiple methods is better . You can  have multiple different type of backups which is better.

Having just a single type isn’t bad either but if you must then it should be multiple in different locations protected with a passphrase. Keeping it in a single location defeats the purpose of  multiple backups, just make sure you do the right thing in keeping your seed phrase.

Bitcoin wallet for holding should be a self-custody btw.. there’s no need of too much extra protection. Maintain cold storage and keep your seed phrase safe.. you will be fine!

[Hatchy]

Of all those you have listed, the best and most important way to protect your crypto wallet is by having a backup. Most people don't even know what a wallet back up is, that's why they end up leaving large amounts of coins in centralized platforms thinking it's safe over there. So many investors have lost their funds not because of scam, but because of their carelessness. You must take the security of your funds very very serious if you want them safe on a long term base. It's not really necessary to use a hardware wallet as they to have their flaws. Just a simple pen and paper backup can be very much reliable on a long term. Avoid installing third party softwares or apps on your mobile phone as well.

[Obim34]

A plus suggestion, if you don't use hardware wallets to store your coin, while making use of a hot wallet, it is good that both your wallet and seed phrase be kept offline, you can prepare a watch-only-wallet to track your balance. Optimum wallet security is important, it will reduces the risk of losing your assets over hacks, scams and phishing attacks.

[Rubuchi]

How to protect one's crypto wallet is a very long list, especially the dos and don't part. Still, you've iterated some of the most important parts that must be strictly adhered to. Crypto hacking and frauds, and even loss are happening daily, and most of the successful ones are because of people's ignorance and lackadaisical attitude. This is not our bank that we can entrust the security to, we are the custodians, so we should be responsible to how we handle it and be up and doing to ensure the needed keys/passwords are kept and updated so safekeeping/privacy and security are strictly observed.

I've never been a fan of keeping anything to safeguard my electronic unlocking online, as I prefer that to be kept offline 100%, and the 2FA should be sourced from a different gadget as well.

I will also advise that if we have loved ones we should try as much as possible to either give the most trusted one a particular hint which can make them recover the backup when you are no more alive. It will make no sense to me if your next of kin cannot access your coins after your death and although you owned it but that will sound a bit selfish to me. Advisably, tighten the security of the backup but make it easier for the next of kin to recover anytime there's need.