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  • Wallets
    • Guide: Crypto Wallet Tips 101 - Do's and Don'ts
      • Review: Metal Bitcoin Seed Storage by jlopp
  • Coins
    • Ethereum: ETH
      • 🛡️EthPillar: one-liner setup tool and node management TUI
      • 🥩Guide | How to setup a validator for Ethereum staking on mainnet
        • Overview - Manual Installation
        • PART I - INSTALLATION
          • Step 1: Prerequisites
          • Step 2: Configuring Node
          • Step 3: Installing execution client
            • Nethermind
            • Besu
            • Geth
            • Erigon
            • Reth
          • Step 4: Installing consensus client
            • Lighthouse
            • Lodestar
            • Teku
            • Nimbus
            • Prysm
          • Step 5: Installing Validator
            • Setting up Validator Keys
            • Installing Validator
              • Lighthouse
              • Lodestar
              • Teku
              • Nimbus
              • Prysm
            • Next Steps
          • Monitoring your validator with Grafana and Prometheus
          • Mobile App Node Monitoring by beaconcha.in
          • Monitoring with Uptime Check by Google Cloud
        • PART II - MAINTENANCE
          • Updating Execution Client
          • Updating Consensus Client
          • Backups Checklist: Critical Staking Node Data
          • Uninstalling Staking Node
          • Finding the longest attestation slot gap
          • Checking my eth validator's sync committee duties
          • Checklist | Confirming a healthy functional ETH staking node
        • PART III - TIPS
          • Voluntary Exiting a Validator
          • Verifying Your Mnemonic Phrase
          • Adding a New Validator to an Existing Setup with Existing Seed Words
          • Switching / Migrating Consensus Client
          • 🛡️Switching / Migrating Execution Client
          • ⚡Using Node as RPC URL endpoint
          • Using All Available LVM Disk Space
          • Reducing Network Bandwidth Usage
          • How to re-sync using checkpoint sync
          • Important Directory Locations
          • Improving Validator Attestation Effectiveness
          • EIP2333 Key Generator by iancoleman.io
          • 😁Geth - Enabling path-based state storage
          • Disk Usage by Execution / Consensus Client
          • Dealing with Storage Issues on the Execution Client
        • Join the Community
        • Credits
        • See Also
        • Changelog
      • ⛓️Guide | How to setup a validator for Ethereum staking on testnet HOLESKY
        • Overview - Manual Installation
        • Step 1: Prerequisites
        • Step 2: Configuring Node
        • Step 3: Installing execution client
          • Nethermind
          • Besu
          • Geth
          • Erigon
          • Reth
        • Step 4: Installing consensus client
          • Lighthouse
          • Lodestar
          • Teku
          • Nimbus
          • Prysm
        • Step 5: Installing Validator
          • Setting up Validator Keys
          • Installing Validator
            • Lighthouse
            • Lodestar
            • Teku
            • Nimbus
            • Prysm
          • Next Steps
        • Maintenance
          • Updating Execution Client
          • Updating Consensus Client
          • Backups Checklist: Critical Staking Node Data
          • Uninstalling Staking Node
      • 💰Guide | MEV-boost for Ethereum Staking
        • MEV Relay List
      • 🔎Guide | Recover Ethereum Validator Mnemonic Seed
      • 🦉Update Withdrawal Keys for Ethereum Validator (BLS to Execution Change or 0x00 to 0x01) with ETHDO
      • 📜Archived Guides
        • Guide Version 1 | How to setup a validator for Ethereum staking on MAINNET
          • PART I - INSTALLATION
            • Step 1: Prerequisites
            • Step 2: Configuring Node
            • Step 3: Setting up Validator Keys
            • Step 4: Installing execution client
            • Step 5: Installing consensus client
            • Monitoring your validator with Grafana and Prometheus
            • Mobile App Node Monitoring by beaconcha.in
            • Security Best Practices for your ETH staking validator node
            • Synchronizing time with Chrony
            • Monitoring with Uptime Check by Google Cloud
          • PART II - MAINTENANCE
            • Updating your consensus client
            • Updating your execution client
            • Uninstalling V1 Staking Node
            • Finding the longest attestation slot gap
            • Checking my eth validator's sync committee duties
            • Pruning the execution client to free up disk space
            • Checklist | Confirming a healthy functional ETH staking node
          • PART III - TIPS
            • 🛡️Switching / Migrating Execution Client
            • Voluntary Exiting a Validator
            • Verifying Your Mnemonic Phrase
            • Adding a New Validator to an Existing Setup with Existing Seed Words
            • Switching / Migrating Consensus Client
            • Using All Available LVM Disk Space
            • Reducing Network Bandwidth Usage
            • How to re-sync using checkpoint sync
            • Important Directory Locations
            • Hosting Execution client on a Different Machine
            • Adding or Changing Graffiti flag
            • Improving Validator Attestation Effectiveness
            • EIP2333 Key Generator by iancoleman.io
            • Disk Usage by Execution / Consensus Client
            • Dealing with Storage Issues on the Execution Client
          • Join the Community
          • Credits
          • See Also
          • Changelog
        • Guide Version 1 | How to setup a validator for Ethereum staking on testnet GOERLI
          • Step 1: Prerequisites
          • Step 2: Configuring Node
          • Step 3: Setting up Validator Keys
          • Step 4: Installing execution client
          • Step 5: Installing consensus client
        • Guide Version 2 | How to setup a validator for Ethereum staking on testnet GOERLI
          • Step 1: Prerequisites
          • Step 2: Configuring Node
          • Step 3: Installing execution client
            • Nethermind
            • Besu
            • Geth
            • Erigon
          • Step 4: Installing consensus client
            • Lighthouse
            • Lodestar
            • Teku
            • Nimbus
            • Prysm
          • Step 5: Installing Validator
            • Setting up Validator Keys
            • Installing Validator
              • Lighthouse
              • Lodestar
              • Teku
              • Nimbus
              • Prysm
            • Next Steps
          • Maintenance
            • Updating Execution Client
            • Updating Consensus Client
            • Backups Checklist: Critical Staking Node Data
            • Uninstalling Staking Node
        • Guide | Ethereum Staking on Zhejiang Testnet
        • Guide | Besu + Lodestar | Most Viable Diverse Client | Staking Ethereum on Kiln testnet
        • Guide | How to setup a validator for Ethereum staking on Pithos testnet in 10 minutes or less
        • Ethereum Merge Upgrade Checklist for Home Stakers and Validators
        • Guide | Operation Client Diversity: Migrate Prysm to Teku
      • Guide: How to buy ETH
    • Cardano: ADA
      • Guide: How to Set Up a Cardano Stake Pool
        • PART I - INSTALLATION
          • Prerequisites
          • Hardening an Ubuntu Server
          • Setting Up chrony
          • Installing the Glasgow Haskell Compiler and Cabal
          • Compiling Cardano Node
        • PART II - CONFIGURATION
          • Downloading Configuration Files
          • Configuring Legacy Stake Pool Topology
          • Configuring an Air-gapped, Offline Computer
          • Creating Startup Scripts and Services
        • PART III - OPERATION
          • Starting the Nodes
          • Accessing Built-in Help
          • Generating Keys for the Block-producing Node
          • Setting Up Payment and Stake Keys
          • Registering Your Stake Address
          • Registering Your Stake Pool
          • Verifying Stake Pool Operation
          • Configuring Legacy Network Topology
          • Setting Up Dashboards
          • Configuring Slot Leader Calculations
          • Securing Your Stake Pool Using a Hardware Wallet
        • PART IV - ADMINISTRATION & MAINTENANCE
          • Checking Stake Pool Rewards
          • Claiming Stake Pool Rewards
          • Delegating to a Stake Pool
          • Issuing a New Operational Certificate
          • Updating Stake Pool Information
          • Upgrading a Node
          • Retiring Your Stake Pool
          • Auditing Your nodes configuration
          • KES Key Rotation / Operational Certificate Companion Script
        • PART V - TIPS
          • Submitting a Simple Transaction
          • Transferring Files Using SSH
          • Updating Configuration Files
          • Enabling Peer-to-peer Network Topology
          • Uploading Pool Metadata to GitHub Pages
          • Obtaining a PoolTool API Key
          • Configuring Glasgow Haskell Compiler Runtime System Options
          • Reducing Missed Slot Leader Checks and Improving Cardano Node Performance
          • Increasing Swap File Size
          • Setting Up an External Passive Relay Node
          • Setting Up WireGuard
          • Monitoring Node Security Using OSSEC Server and Slack
          • Resetting an Installation
          • Fixing a Corrupt Blockchain
          • Verifying an ITN Stake Pool
          • Fixing the Mnemonic Staking Balance Bug
        • Appendix A - Best Practices Checklist
        • Appendix B - Cardano Resource Index
        • Telegram Chat Channel
        • See Also
        • Credits
      • Guide: How to buy ADA
      • Guide: How to stake ADA
    • Monero: XMR
      • Guide | How to run your own Monero node
      • Guide: How to mine Monero
      • Create a XMR paper wallet
      • External Reading Material
        • Movie: Monero Means Money
        • Guide: Zero to Monero
        • Book: Mastering Monero
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On this page
  • Getting Crypto Super Powers
  • The Do's and Don'ts of Crypto Wallets
  • 1. Using Wallets
  • 2. Managing seed phrase and private keys
  • 3. Securing your internet, browser & devices
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  1. Wallets

Guide: Crypto Wallet Tips 101 - Do's and Don'ts

PreviousDisclaimerNextEthereum: ETH

Getting Crypto Super Powers

Becoming a crypto super hero can be an exhilarating and rewarding journey.

It's critical to grasp a solid understanding of crypto wallets. Without such, a wallet can be quickly emptied. There is no help line to call or way to reverse a transaction. Remember, only you can defend yourself with knowledge.

"With great power comes great responsibility"

- Peter Parker Principle

The Do's and Don'ts of Crypto Wallets

Listed in order of what not to do alongside with the correct action to do.

1. Using Wallets

Send a transaction blindly

Double check the cryptocurrency type, amount, and destination address

Send a large amount to new address

Send a small test transaction firstly

Type a complicated long address

Avoid typos by using a QR scanner or copy/paste an address

Leave your wallet unattended or unlocked

Logout or lock your wallet/device

Blindly trust downloaded wallets

Verify the authenticity of a wallet's hash

Store large amounts of crypto on an exchange or your phone/laptop

Store crypto on a dedicated hardware wallet aka Cold Storage

Use an exchange or 3rd party as a wallet

Reduce counterparty risk by using your own wallet

Carry around too much on mobile wallets

Store only what you need for everyday spending on mobile wallets

Use simple to guess/lazy passwords

Elaborate scams or impersonation attempts are common schemes used by fraudsters to steal your private keys. Don't fall for it!

Type/take a photo/save your seed phrase or private keys anywhere online

Always keep your seed phrase or private keys offline

Share your seed phrase with anyone

Understand that anyone, with your seed phrase, can spend your funds

Forget your seed phrase/private keys/wallet PINs

Only have one copy of your seed phrase

Keep multiple copies stored at multiple locations

Only have a seed written on paper.

Click unknown links that might steal your crypto (phishing)

Verify the correctness of a website's address

Use a wallet on an old device which may be full of vulnerabilities

Keep your phone/laptop up-to-date with security patches

Make transactions over public WIFI

Make transactions in a safe environment or over VPN

Use phone number based 2-factor authentication

Use Authy or OTP-based 2-factor authentication

Use your personal email for crypto

Use a separate dedicated email for crypto

Make transactions on insecure websites with only HTTP in the web address

Check for a padlock meaning the website is secure

Mix personal/work devices with lots of crypto

Use a device solely for the purpose of transacting crypto

Have any more tips? Feel free to contribute.

Don't

Do

Use a "" to generate strong passwords

2. Managing seed phrase and private keys

Don't

Do

Backup and write/etch them down on a physical object, not online. Even better, use a .

Plan in case of a fire or flood. Use a

3. Securing your internet, browser & devices

Don't

Do

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