Tl;dr – We put together some of the most important tips for keeping your crypto assets safe – So you can stay Zen in the chaos of crypto 🙂
3 Tips for You:
We are humans – we tend to be emotionally-driven, trusting creatures. Don’t let scammers take advantage of our best qualities!
- Always ALWAYS check URLs when you are using your crypto wallet. Hackers will attempt to mimic website links from legitimate Web3 and NFT platforms like OpenSea and build malicious code to steal your assets.
Bookmark sites that you know are safe and keep a folder of the ones you use often. Only navigate using these bookmarks to help protect yourself!
- Before you sign a transaction: Read it CAREFULLY! Do you understand it? Are you sure you can trust it? If the answer is no – ask a friend or trusted source of information.
Certain malicious transactions will use confusing and lengthy transaction text to get you to sign without reading.
- Always verify that the transaction you are signing is in-line with what you prompted from the webpage. I.e. If you intended to swap $55.00 worth of a token and the transaction is asking permission to send $2000, then something is wrong; Reject it and leave the site.
If you use the ZenGo wallet, the Web3 firewall ClearSign is helping you fight against scams! It translates transactions into human-readable text, and lets you know if you’re about to perform a transaction that is suspicious.
We are human! We are all predisposed to wanting to take advantage of a really good deal, or a free gift. It is in our nature. Scammers know this and capitalize on it. No one is going to send you free crypto for nothing, so remember that and don’t fall prey.
Scammers try to play with our emotions: Creating a sense of urgency, of limited-time, or of scarcity (only #X to give away). Don’t let that get the better of you!
3 Tips for your assets:
- If you’re using a wallet with private keys: NEVER EVER give them away: If someone asks for it they 100% are trying to steal from you. Better yet: Securely store your assets in a crypto wallet like ZenGo, an on-chain crypto wallet with no private keys to lose or get stolen.
There is no use for someone else obtaining your seed phrase other than to steal from you, so don’t let them convince you of this. Sometimes scammers will pretend to represent trusted sources of authority (ZenGo, Coinbase, or Metamask support; or a mod from your community’s discord server). Some scammers will even manage to take over the social media account from a legitimate source! No matter the case: Never share your private keys if you have a wallet that uses them
To give users an alternative, we designed an amazing MPC-based wallet that doesn’t use seed phrases at all! Check it out on our site: zengo.com/mpc-wallet
- Don’t keep all of your assets in one wallet. In case you make a mistake, it’s always smart to have backup funds in more than one place. Always use (2FA) 2-Factor Authentication when available: for your precious accounts like email, financial apps, social media. Avoid SMS text 2FA as they aren’t as secure. Instead use authenticator applications like Authy or Google Authenticator.
Having your assets somewhat spread across 2+ accounts helps you have more confidence that even if you make a big mistake, you won’t lose everything.
- Revoke access to Dapps regularly when you’re done using them. It greatly decreases the risk of something taking advantage of permissions. Remember – disconnecting your crypto wallet from a Dapp DOES NOT mean you have revoked its access. Learn more about revoking Dapp access here and for ZenGo users, here.
Revoking costs a small amount of gas on the network (usually between $2-$10), but it is worth it to make sure you don’t allow organizations to have continued access to your funds after you’ve finished using them.
Bonus tip: There’s always more to learn!
- Education is the MOST important asset in Web3: Build trusted sources of information, strong friendships, and committed communities. We’re all here to support, empower each other, and grow together!
- Check out the Zen Crypto Show: Go from 0-to-crypto in minutes with insightful, friendly, and informative information about NFTs, Cryptocurrencies, and Web3 packed into 10-15 minute-long episodes!
- Learn and grow with Franco on our YouTube: Especially helpful for NFT newbies, this YouTube series is simple, accessible, and tutorial-focused for anyone looking to get started!
- Go deep with WhiteBoard Crypto on their YouTube channel.
- Starting with Bankless: an all encompassing “Starter guide” for anyone coming into crypto. The description on the YouTube video has tons of helpful resource links to more videos, podcasts, and articles!