Safety of Electronic Wallets
In the crypto world, a lot of people lose their own coins due to negligence, hacking or fraud. So, first we try to answer the question - is the electronic wallet safe?
Safety of wallets varies. Safety quality depends on the type of wallet and the service provider. Web server is a much more dangerous environment to save your currency than Offline Mode. Online wallets are relatively vulnerable to the platform, which increases the risk of hacking. On the other hand, Hackers will not be able to access offline wallets because they are just not connected to the network.
Although the wallets connected to the network are the most risky and easy-to-hack, you need to take serious security measures in case of any type of wallet. Remember that no matter what you use, you lose your personal key - you lose money. Similarly, if your wallet is broken, or if you send money to a swindler, there is no way to get the money back. So be careful!
Reserve your wallet
Keep a small amount of currency for daily use online, on your computer or in a cell phone and leave most of the money in a strong security environment. Cold or offline storage backup features such as Ledger Nano, Paper, or USB, will protect you and allow you to reset your wallet if it's lost or stolen. Nevertheless, you can not protect yourself from hackers. In fact, if you decide to use a wallet connected to the network, there are some risks that you can not always defend yourself against.
Reload the software
Always upgrade your software to make the most recent versions of security. You must constantly update not only your wallet software, but also software in your computer or mobile.
Add security layers
The more security layer you have, the better. Setting long and complex passwords and requesting a password before each withdrawal is just the beginning. Use pallets that have a good reputation and additional safety layers, such as double factor recognition and additional password demand for wallet opening. Think about a wallet that offers multisig transactions such as Armory, or Copay. Multisig, or multi-signature wallet requires permission from another user or users before performing any operation.
Thanks for looking in,
