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- 1 In Web3 the safest way to enhance the security is by not entering or using the credentials at unauthorized places.
- 2 To avoid unwanted losses, one should be attentive and invest only after thorough research.
It is very essential to keep oneself protected in Web3 as hackers find different ways to steal information. To save oneself from the risks, some important measures must be implemented.
Never Share the Private Keys
Private keys are used to secure the data. It plays a very important role in enhancing security. It should not be short, in fact, it should be provided with a combination of difficult alphabets and numbers to increase the difficulty to code. If possible, one should memorize the keys instead of writing them digitally. One can write it on paper or use a storage device as well.
Enable the Two-factor Authentication
This feature enables more security for data. It requires the user to enter the code that has been sent to the phone or email. This is adopted by most of the digital services. In this, the physical possession of the device is essential. Hence, it is considered the safest way.
Interact with the Reputable Service
The reputable service will provide the needed security in the Web3 world. It builds trust by enhancing security measures and avoiding malicious attempts.
Read Transactions Messages Carefully
The transaction messages should be read very carefully so that anything fishy can be stopped before attempting. Some transaction messages from the applications ask for authority on one’s behalf. Without reading the details, it is suggested that authorization on behalf of someone else can be fishy and should not be authorized.
Use Decentralized Identities
Decentralized identities are famous for providing the needed security to save from bad actors and frauds.
Regularly Updating the Wallets
Regular updates usually come with more advanced features. So, regularly updating the wallets will enhance security and protection against attempts made to hack wallets, etc.
Recognizing the Phishing Attempts
Phishing attempts are made mostly by transferring the links to different addresses. Stay alert by cross-checking the links. Read it carefully as the phishing links and messages always have some spelling mistakes or grammatical errors that are easily noticeable if observed with proper attention.
Use Hardware Wallets for Storing
Hardware wallets or cold wallets store the private keys offline and thus, provide an extra layer of security. Many hardware wallets like Metamask and Exodus are available that will benefit from security features. Remember, hot wallets are convenient for day-to-day transactions while hardware wallets are good for long storage. It will keep the keys safe.
Seed Phrases
The seed phrase is generated by wallets as a security key code. If somehow the private keys or codes or passwords are lost or hacked, then it acts as a savior. It is a secret recovery phase.
Summary
Although blockchain is a safe and secure way to deal, there is always a risk of phishing threats and malicious attempts. For enhanced security and safety, some measures like remembering passwords, not sharing them with anyone, difficult passwords, and attentiveness should be implemented.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
