Security > Advices to secure your wallet

Crypto assets are stored in wallets. You can either manage your own wallets or use a service provider like GOin.

Risks

The crypto assets in your wallets are exposed to various risks, the main ones being:

  • Phishing attacks

    Hackers can send emails, SMS or messages on social networks that appear to come from a legitimate source, such as a crypto asset exchange platform or a wallet service provider. These messages encourage users to click on a malicious link or provide their login information.

  • Brute force attacks

    Hackers can try to guess your password or passphrase using brute force software. This is especially risky if you use a weak or easy-to-guess password.  

  • Keylogger attacks

    A keylogger is a type of malware that records all the keystrokes you type on your keyboard. This can include your passwords, passphrases, and other sensitive information.

  • Code injection attacks

    Hackers can inject malicious code into a website or application that you use to access your wallet. This code can allow them to steal your funds or take control of your wallet.

  • Software vulnerability attacks

    Wallet software may contain vulnerabilities that can be exploited by hackers. It is important to keep your wallet software up to date with the latest security patches.

  • Human errors

    Human errors, such as losing your passphrase or sending funds to the wrong address, can also lead to the loss of your funds.

Advices

  • Choose secure wallets for your personal management

    • Hardware wallets. Store your private keys offline, making them inaccessible to hackers. They are recommended for long-term storage of your crypto assets or if their value is significant. The most well-known are Ledger* and Trezor*.
    • Paper wallets. Print your private keys on paper and keep them in a secure place, such as a safe. If a malicious person recovers this paper wallet, they will have instant access to your crypto assets.
    • Software wallets. Choose a reputable wallet with advanced security features. When the value of your crypto assets is significant, we recommend using this type of wallet only in addition to a hardware wallet to store the crypto assets needed for your daily transactions. The most well-known are Metamask* and Trust Wallet*.

  • Use a strong and unique password

    Your password should be at least 16 characters long and a combination of uppercase and lowercase letters, numbers, and symbols. Do not use the same password for other online accounts.

  • Enable two-factor authentication (2FA)

    2FA adds an extra layer of security by requiring you to provide an additional code besides your password when logging in.

  • Be careful with links and websites

    Never click on a link in an unsolicited email or message, even if it appears to come from a legitimate source. Always check the URL of the website before entering your information.

  • Keep your software up to date

    Install the latest security patches as soon as they are available.

  • Back up your passphrase

    Your passphrase is the key to your wallet. It is important to store it in a safe and offline place. Never share it with anyone.

  • Be aware of scams

    There are many scams related to crypto assets. Be wary of offers that seem too good to be true (e.g. a message offering to multiply your crypto assets by sending them to a specific wallet).

  • Diversify

    Do not put all your crypto assets in the same wallet. This limits the impact in case of theft or loss of one of your wallets.

  • Engage a qualified service provider

    You can delegate the custody of your crypto assets to a service provider like GOin, which, as part of its custody services, implements a set of procedures and policies to manage those risks.

More information:

* The providers mentioned in this document are the most well-known and used at present. However, their solutions have experienced vulnerabilities in the past. GOin recommends that you do your own assessment before using their solutions.