Making sure that your funds are safe and secure while using non-custodial wallets like MetaMask should be one of your top priorities. In this article we will go over the best security practices that you can use to better secure your digital assets.
When creating a password, do not reuse an old password. 2-factor authentication (2FA) is not yet available for MetaMask, so longer and more complex passwords are suggested.
Your Secret Recovery Phrase or “Seed Phrase” is the most important part of your MetaMask wallet. The seed phrase allows anyone with the whole phrase to recover your wallet without the use of the password. With this a hacker is able to take all of the digital assets in your wallet as if it was their own.
If your seed phrase is lost and you lose access to your wallet, there is no way to recover the funds. Making sure the seed phrase is backed up in a secure location, preferably in physical storage, is very important.
Seed Phrase Security
If you must store the seed phrase on a computer, make sure your hard drive is encrypted and your device is never left unattended.
Storing your seed phrase in a physical location, like a bank safety deposit box.
Storing multiple copies in different secure locations in the case of a secure location being compromised.
Cold Wallet Security
Setting up a cold wallet linked to your MetaMask wallet is very easy, you can follow a guide here.
The cold wallet stores your crypto and NFT assets on an offline device.
Any time you want to make a transaction with your MetaMask wallet you will need to physically connect your cold wallet to your computer.
By using these suggestions the chances of your digital assets being stolen or compromised are significantly decreased. The best defense against hackers is understanding how they might attack you. Phishing links, malicious software, and connecting your wallet to websites you are not familiar with are just a few of the most common attack vectors. Making sure that the wallet operator understands how MetaMask wallets and smart contracts work can help mitigate the chances of stolen digital assets.
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