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

## :superhero: Getting Crypto Super Powers

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

{% hint style="danger" %}
It's critical to grasp a solid understanding of crypto wallets.\
Without such, a wallet can be quickly emptied. :sob:\
There is no help line to call or way to reverse a transaction.\
Remember, only you can defend yourself with knowledge. :right\_facing\_fist:
{% endhint %}

> "**With great power comes great responsibility**"
>
> \- Peter Parker Principle

## :bulb: The Do's and Don'ts of Crypto Wallets

{% hint style="info" %}
Listed in order of **what not to do** alongside with the correct action **to do**.
{% endhint %}

## :compass:1. Using Wallets

| :crossed\_swords: Don't                                           | :white\_check\_mark:Do                                                                                              |
| ----------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------- |
| 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                                | Use a "[password manager](https://learn.shakepay.co/passwords-and-password-managers/)" to generate strong passwords |

{% hint style="danger" %}
Elaborate scams or impersonation attempts are common schemes used by fraudsters to steal your private keys. Don't fall for it!
{% endhint %}

## :key2:2. Managing seed phrase and private keys

| :crossed\_swords: Don't                                                 | :white\_check\_mark:Do                                                                                                                                     |
| ----------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |
| 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                        | Backup and write/etch them down on a physical object, not online. Even better, use a [metal seed](https://jlopp.github.io/metal-bitcoin-storage-reviews/). |
| Only have one copy of your seed phrase                                  | Keep multiple copies stored at multiple locations                                                                                                          |
| Only have a seed written on paper.                                      | Plan in case of a fire or flood. Use a [metal seed.](https://jlopp.github.io/metal-bitcoin-storage-reviews/)                                               |

## :closed\_lock\_with\_key:3. Securing your internet, browser & devices

| :crossed\_swords: Don't                                                  | :white\_check\_mark:Do                                    |
| ------------------------------------------------------------------------ | --------------------------------------------------------- |
| 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 |

{% hint style="success" %}
Have any more tips? Feel free to contribute.
{% endhint %}


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