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🛡️ Staying Safe
"Not your keys, not your crypto."
But what does this mean, really?
It means that whoever has access to the private key of your wallet — or equivalently its seed phrase — has absolute control over the funds inside, whether that's you, your friend or your family member, a custodian like a centralized exchange, or in the worst scenario: a scammer or a hacker.
The empowering freedom that comes with taking full ownership over your assets and finances, comes with a new level of responsibility as well. Staying safe is an continuous individual endeavour.
Nonetheless, the great news is that with adequate security measures — and a spice of experience and conscious habit formation — you can significantly minimize the effort required for a safe self-custodian experience:
- Be extra cautious with your wallet(s). Triple-check funds are sent to the right address, as malicious agents can be surprisingly ingenious. Ensure you never approve access to unrecognized applications! And if you ever do, take care to revoke access as soon as possible.
- For optimal & effortless security, consider using cold wallets with your Metamask or Firefly, especially when holding large amounts of funds.
- Stay aware of phishing scams, where fake websites pose as real ones. Bookmark or always check you are on the official tangleswap.exchange domain.
- Be mindful of intricate social engineering tactics, malicious actors can sometimes get quite sophisticated.
- Consider using hardware 2FA authentication on sensitive and/or valuable digital accounts.
- DYOR (Do Your Own Research) before investing in any project or team. Make sure you develop an intimate understanding of the project's value proposition, including how it relates to competitors and how the team plans to execute. Learn risk management before allocating significant portions of your portfolio.
- Only download software from original sources. If in doubt, always cross-reference on official platforms.
NEVER, under any circumstance, should you share your private key or seed phrase with anyone, unless you would want that person to have full control over your funds. Immediately block and report any account that asks for your seed phrase, even if it would appear to come from a trustworthy source.