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| security [2020/02/10 23:40] โ boot2thrill | security [2022/12/21 17:21] (current) โ lolitalollipop | ||
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| It is very important that you **secure your funds and take every single measure possible to ensure the safety of your currency**. This guide will go through some of the basic security measures every user should take. | It is very important that you **secure your funds and take every single measure possible to ensure the safety of your currency**. This guide will go through some of the basic security measures every user should take. | ||
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| ===Safely store your private key and never share your private key=== | ===Safely store your private key and never share your private key=== | ||
| - | When creating a new Conceal wallet, you will be provided with a **private key**. A private key allows access to your wallet and is the single most important | + | When creating a new Conceal wallet, you will be provided with a **private key**. A private key is the single most important |
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| + | Ideally this **private key** should be **written down on paper and stored in a safe place**. To make it more secure you can laminate it and store it in a vault. | ||
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| + | Another, less secure, alternative is to **copy the private key to the clipboard and store it electronically**. Be aware that some types of malware may have access to the clipboard which could lead to the private key being compromised. | ||
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| + | If stored on the same device as the wallet itself, the private key backup would be useless in the case of ransomware or hardware failure, which caused access to the wallet to be lost in the first place. So, **if an electronic copy is being used, storing the file on a USB drive would be a better approach**. | ||
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| + | Never, under any circumstance, should you ever share your Conceal wallet or private | ||
| ===Safely store your recovery phrase and never share your recovery phrase=== | ===Safely store your recovery phrase and never share your recovery phrase=== | ||
| - | When creating a new Conceal wallet, you will also be provided with a **recovery phrase**. This phrase allows you to recover the wallet if you lose access to it for any reason. Ideally this **recovery phrase** should be **written down on paper and stored in a safe place**. | + | When creating a new Conceal wallet, you will also be provided with a **recovery phrase**. This phrase allows you to recover the wallet if you lose access to it for any reason. Ideally this **recovery phrase** should be **written down on paper and stored in a safe place**. To make it more secure you can laminate it and store it in a vault. |
| Another, less secure, alternative is to **copy the recovery phrase to the clipboard and store it electronically**. Be aware that some types of malware may have access to the clipboard which could lead to the seed being compromised. | Another, less secure, alternative is to **copy the recovery phrase to the clipboard and store it electronically**. Be aware that some types of malware may have access to the clipboard which could lead to the seed being compromised. | ||
| If stored on the same device as the wallet itself, the seed backup would be useless in the case of ransomware or hardware failure, which caused access to the wallet to be lost in the first place. So, **if an electronic copy is being used, storing the file on a USB drive would be a better approach**. | If stored on the same device as the wallet itself, the seed backup would be useless in the case of ransomware or hardware failure, which caused access to the wallet to be lost in the first place. So, **if an electronic copy is being used, storing the file on a USB drive would be a better approach**. | ||
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| + | Never, under any circumstance, | ||
| ===Never reuse passwords and logins=== | ===Never reuse passwords and logins=== | ||
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| ===Use long, secure passwords=== | ===Use long, secure passwords=== | ||
| It might be a bit of a hassle to dig it up every time you want to login to trade or check your balances, but that process is much more seamless if you take advantage of secure, password managers that help you generate and remember every login/ | It might be a bit of a hassle to dig it up every time you want to login to trade or check your balances, but that process is much more seamless if you take advantage of secure, password managers that help you generate and remember every login/ | ||
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| - | ===Enable two-factor authentication (2FA)=== | ||
| - | This is the first thing anyone investing should immediately enable after you register on an exchange, or any location where you store your cryptocurrency. All exchanges have this option, so enable it! 2FA ensures that even if your login and password is compromised, | ||
| ===Exchanges=== | ===Exchanges=== | ||
| - | This is the riskiest | + | By far, the riskiest |
| - | There are countless stories about exchanges being hacked and losing funds of their clients. It is ok to have some of your funds on an exchange | + | Short-term storing |
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| + | ===Enable two-factor authentication (2FA)=== | ||
| + | This is the first thing anyone investing should immediately enable after you register | ||
| This is not an exhaustive list, but should be the very minimum of what you should be doing to secure your funds. | This is not an exhaustive list, but should be the very minimum of what you should be doing to secure your funds. | ||