To invest safe

Wallet

Crypto is secured based on its no intermediary and trustless characteristics, but at the same time it's also unsecured due to no centralised authority has the governance power to alter public ledger (committed transactions) whenever malicious behaviour occurred. Few tips to avoid losing money.

💡 Public Ledger: The ledger maintains participants' balances, and a record of all the genuine transactions between network participants.

1. Securely store your wallet seed phrase

   • minimise places you keep your seed phase

   • minimise people who can access (but suggested at least two)

   • keep seed phase only in offline storage, metal plane/capsule is far better than paper

   • never disclose it online except accessing your wallet via secured hot wallet

2. At least restore wallet by seed phase once before use it to avoid any human errors

3. Always start funding with a small amount, in a purpose of

   • validating your address is correct

   • confirming you've selected a right chain

4. Isolate a browser purely for wallet extension can minimise risk of phishing and malicious apps

   • Chrome/Brave/Microsoft Edge are all support Chrome extensions

   • most web/extension wallets are also available on Firefox

   • minimise unnecessary browsing and page interactions for the wallet browsers

   • minimise unnecessary applications running on the wallet browsers

5. Make a balance between the security of CEX and DEX, store your assets in multiple wallets

   • CEX :

     • centralised, technically you’re keeping your fund in CEX’s wallet not yourself

     • transparency on team structure

     • not able to validate fund flow and user activities via blockchain history

     • compliant to certain corporate regulations or even country laws

   • DEX :

     • decentralised, holding your keys means you’re owning the full control of your money

     • mostly anonymous team

     • public contracts and transactions

     • not regulated by any real world authorities

💡 Seed phrase: 12, 18, or 24-word phrase that 'represents' the private keys generation, with this you can retrieve your wallet from anywhere and any devices.

Avoid Scammers

There’re lots of grey area in crypto market that’s not regulated by country law, somehow scammers may steal your money and escape without legal liability.

1. Again, never share seed phrase to anyone online

   • scammers may bring you to a fake website or wallet page to get your seed phase

   • scammers may insert virus to your device to capture your input/seed phase files

2. People who offer helps or benefits won't direct message you

   • scammers may pretend your friends/admins/mods to get your seed phase

   • scammers may send you a fake website for you to buy/mint fake tokens/NFTs

3. Verify every possible ways before execution

   • only initiate a direct message when you 100% sure it's the people you want to contact

   • don't download and install unknown software to avoid malwares

   • visit links from verified twitter accounts/famous coin tracking websites like coingecko, coinmarketcap instead of google result as it contains fake ads

   • verify twitter/application/discord’s number of followers/users, and check their profile to ensure they’re not zombie accounts that fake the numbers