Keeping Your Wallet Safe

Education on keeping your cryptocurrency wallet safe.

Your cryptocurrency wallet is just like your real-life wallet. Except it probably contains funds and items of far greater monetary value. It is important to know how to keep your wallet safe.

Unique Browser

  • Do not use your wallet's dashboard or browser extension on the internet browser that you use for regular internet browsing.

  • You should have at least two different browsers on your device. Use one as your default browser to browse the internet as you normally do. And a secondary browser for all activities related to using your wallet. The next header below makes it clearer why you should do this.

  • For example, many users at The Sandbox decide to use Chrome for regular browsing, and Brave for wallet-related activities.

  • Do not set the browser that your wallet is used or attached to as your "default" browser.

Avoid Clicking Random or Unknown Links

  • So, you've taken the time to learn about blockchains and cryptocurrency - in that case, you should also take the time to learn to stop impulsively clicking links while using the browser with your wallet dashboard or extension on.

  • Get into the habit of treating links as suspicious. Whether the link is on a webpage, a social page, in an email, in a direct message, and so on.

  • Links can be used to trick you into connecting your wallet to a compromised app or a fake third-party website, giving fraudsters access to your wallet.

  • If the link mentions a community or company, Google it first to see if it is legitimate. If it does seem legitimate, check the spelling of the link. Some scam websites use an alternate spelling of the real thing.

  • You can also scan the link for malicious code and so forth on virus scan websites, such as https://www.virustotal.com/.

  • Even if it still seems legitimate, open the link in a different browser that does not have your wallet connected to it.

One way scammers try to get you to click such dangerous links is to claim that you have won a prize. Or that you have been randomly selected to participate in something (ie, a game test). They could also pose as someone who is shilling another project, but is in fact trying to entice you to click a link to a scam.

Do Not Connect Your Wallet To Random Websites

  • Always do your own research (DYOR) about websites that ask you to connect your wallet to them. Do not just go ahead and connect it to everyone who asks.

  • If you're still unsure, ask in a cryptocurrency community that isn't operated or managed by the website that is asking you to connect your wallet to it.

Lock Your Wallet

  • When your wallet is not in use, it should be locked at all time.

  • Locking a wallet is achieved simply by logging out of it via the web dashboard or browser extension.

  • If you are not sure how to lock your specific wallet, search the help documents provided by your chosen wallet service, as the instructions differ depending on your chosen wallet.

Banking websites, PayPal, and similar money service websites will usually automatically log you out after a certain number of minutes. However, many cryptocurrency wallets do not currently have this feature, so you need to make sure you do so manually.

Do Not Share Your Wallet

  • Nobody else should be able to access your wallet. This includes family members, friends, and romantic partners - people argue and fall out all the time.

Last updated