Conceal Wiki

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revision Previous revision
Next revision
Previous revision
security [2020/02/10 19:10]
boot2thrill
security [2020/02/10 19:15]
boot2thrill
Line 22: Line 22:
  
 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**. ​
 +
 +Never, under any circumstance,​ should you ever share your Conceal wallet or recovery phrase with any person or software that you do not intend to take control of all of your assets.
  
 ===Never reuse passwords and logins=== ===Never reuse passwords and logins===
Line 32: Line 34:
 By far, the riskiest method to store your cryptocurrency is on exchanges. The cryptocurrency golden rule is **NOT YOUR KEYS, NOT YOUR FUNDS**. Storing your crypto on exchanges keeps control of your funds in the hands of a third party. The exchange is holding your crypto in their wallets. They control the private keys, they control the recovery phrases. There are many examples of exchanges being hacked and clients losing their crypto. ​ By far, the riskiest method to store your cryptocurrency is on exchanges. The cryptocurrency golden rule is **NOT YOUR KEYS, NOT YOUR FUNDS**. Storing your crypto on exchanges keeps control of your funds in the hands of a third party. The exchange is holding your crypto in their wallets. They control the private keys, they control the recovery phrases. There are many examples of exchanges being hacked and clients losing their crypto. ​
  
-Short-term storing of your crypto on exchanges for trading purposes is understandable. However, long-term storing of your crypto on exchanges should never be considered a secure option. Remember, **NOT YOUR KEYS, NOT YOUR FUNDS** ​+Short-term storing of your crypto on exchanges for trading purposes is understandable. However, long-term storing of your crypto on exchanges should never be considered a secure option. Remember, **NOT YOUR KEYS, NOT YOUR FUNDS**.
  
 ===Enable two-factor authentication (2FA)=== ===Enable two-factor authentication (2FA)===