A beginner friendly guide to secure your (Metamask) cryptocurrency / NFT wallet, the correct way.
Seed phrase / Secret recovery phrase
Almost all crypto wallets use a seed phrase / secret recovery phrase. A seed phrase is generated when you create your wallet, and grants access to all accounts on the wallet.
The seed phrase is generated locally from 12 random words, meaning that there's no backup online anywhere. It's really important to write this phrase down somewhere secure.
It's important to store the seed phrase somewhere physical / offline, because it can get stolen if you download a virus or if your cloud account login is hacked.
- The seed phrase is the only way to recover a Metamask account!
- Don't share your seed phrase with anyone!
- The Authic team will never ask for your recovery phrase!
Please get in touch with our support team if someone asks for your seed / recovery phrase.
Hardware wallets (Cold wallet)
Using hardware wallets has it pro's and cons, generally it is advised to use a hardware wallet if you have larger amounts of cryptocurrencies or NFTs.
They have better security due to the fact that they are not connected to the internet, and you need access to the physical device to authorize any transactions.
- Never buy a used / second-hand hardware wallet.
- Some reputable hardware wallet providers are:
Be very careful when you are required to authorize / sign a transaction, or when you have to connect your wallet to a service / dApp.
The website you're trying to connect your wallet with could be a fake copy, always check the website url.
Someone with bad intentions could also through complex smart-contracts create a transaction which would send all of your cryptocurrency and NFT assets to his wallet when you authorize the transaction, so do not authorize transactions on unknown websites / services.
You also should be mindful with keeping previous authorizations open if you do not use the service any more, there's a small, but unnecessary risk.