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Author Topic: Self-custody is truly necessary for everyone.  (Read 806 times)
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Today at 01:49:37 PM
 #121

Depends on how you do that.

Like do you use different strong passwords for your wallets?
If you use different strong passwords, risk of losing all of your wallets on a same device is smaller.
However, if you store your wallets on different devices, that is better than storing all of them in only one device.

If you use different wallets, either web wallets or hardware wallets, you minimize risk of losing all fund by a hack on one wallet brand.

Of course, the wallet diversification needs to be done carefully, firstly with choosing good wallets to use, then other later steps from creation, backup to storage and practice with your devices, wallets, transactions and other activities offline and online.
A much preferred precautionary measure I would recommend is to have completely separate device for your wallet(s), if you wanna have different wallets, that’s okay, but let them be in a device that’s completely different from the one you use for your everyday life, like the one you use to surf the internet, make your phone calls, in fact your everyday use. This way you potentially reduce the risk of hack or malware attack, of course as long as you also avoid storing your wallet information online, you should be safe.

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