How to secure my crypto wallet

I spreaded my crypto and NFT on different wallets. I put my crypto and NFT on wallets where it makes most sense. Some examples:
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I use for Ethereum Blockchain a Metamask wallet (most used) and all related Layer2 blockchain coins, like Polygon.
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I use for Solana Blockchain the Phantom wallet, where I store Solana and NFT from solanart.io.
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I use for some crypto like SOL, ATOM, ADA an iPhone Wallet App from Exodus , where I also can do staking.
If the value of the crypto and NFT exceeds an certain amount, I do no more really feel comfortable with it. So then I use a Hardware wallet. I use in addition a USB stick (“Hardware Wallet”) like Ledger or Trezor. This is important, as times goes on, I want to have support.

But one disadvantage of a “Hardware Wallet” is, when I play to earn blockchain game like “Pegaxy”, I have to sign transaction for activities whithin the game, which needs much more time, as I need to confirm this transcation on my “hardware wallet” (example my Ledger USB Device). For one transaction it can be, that I need to confirm 4 times, so 4 times one click on the hardware wallet for just one transaction.

Below I explain my experiences on using my wallets (software and hardware wallet).

How to loose my crypto

I never lost so far any crypto. If this happens, I will update this page with this experience, but hopefully it will never happen. I share here so far my experiences I made in regard of how to secure my crypto and also my research I did. For this topic I need always to be up to date with the latest possibilities of how to loose crypto, as there are coming news ways from attackers and I need to know, how to prevent.

    My computer is compromized by malware.

    + Details
    This attack is a very common one already existing a long time. Getting malware (malicious) software on my computer, when I click a malware link.

    Example 1: I get an email where I won something. I click on this link and in the background a malware software will be downloaded to my computer.

    Example 2: I go to a website to get some information and a malware software will be downloaded to my computer.

    An attacker (hacker) can steer my computer and also send my money from my wallet to his wallet!

    Be very careful if you have a computer with a crypto wallet, what you click on mails and websites. Always think first if it is suspicious, before clicking!

    If you have a Hardware Wallet this will protect you from removing crypto from your wallet, as you need to sign this transaction with your Hardware Wallet (USB device) which can not be accessed by the attacker.

    I give my private key (Seed Phrase / Secret Recovery Phrase) to someone or website

    + Details
    The “private key” (secret recovery seed phrase, 12/24 words) never ever, never ever, never ever tell to anybody. I keep it in a safe place.

    If the “private key” from my wallet gets to an attacker he can install a new wallet with this key, which is then the same wallet with same address and have access to all the crypto currencies which I have on my personal wallet.

    If I have a problem with my wallet and I ask the support channel. The support channel will never ask for the secret recovery seed phrase. If somebody ask for this, I can mostly be shure, somebody want to compromise my wallet.

    I gave a Smart Contract unlimited access to my funds in the wallet

    + Details
    This is a new attack coming with the crypto smart contracts. If I use a crypto project I need to sign transactions. For some crypto projects to simplify the user experience, these dApps (decentralized App) lead the consumer to approve unlimited Allowances, such that the smart contract will no longer need further permissions to perform actions with the token in the wallet.

    I installed a fake wallet app or wallet browser extension

    + Details
    If I download a new wallet (example metamask), I always make shure, that I download from the official wallet website. 

    Otherwise it could be that I would from a fake website download a malware program!

    My crypto wallets

    Some of my crypto wallet in a table overview.

      Blockchains
      Software Install
      Software Wallet
      Hardware Wallet
      Metamask
      Ethereum, Polygon, Binance Smart Chain, Avalanche
      Chrome Browser Extension
      Wallet address 1, Wallet address 2
      Wallet address 3 (Ledger)
      Binance
      Binance Smart Chain
      Chrome Browser Extension
      Wallet address 2
      Phantom
      Solana Blockchain
      Chrome Browser Extension
      Wallet address 5
      Exodus
      APP auf iPhone
      Wallet address 6
      (in future with Trezor)

      My used Hardware Wallets

      As I did my research, Ledger and Trezor were the most used Hardware Wallets. For me it is important that a lot of people use it, so I have the most guarantee, that I have support from the vendor over a long time.

        Ledger Hardware Wallet

          + My Experience

          To use Leger wallet, there are some important topics to know (especially in use with metamask):

          • the most up-to-date firmware on your Ledger or Trezor device
          • up-to-date browser
          • up-to-date Ethereum App on the Ledger (from Ledger Live > Manager)
          • “blind signing” enabled on the device (if needed for what you are doing)
          • ledger live app closed
          • the device plugged in via USB, NOT Bluetooth
          • the device unlocked and in the Ethereum app

          In the past I missed some parts above and I could not fulfill a transaction.

          What I encoutered also, if I have the chrome browser open several days. Sometimes I need to close and reopen Chrome browser otherwise my signing with my hardware ledger device is not working (the transaction is not showing up on my ledger).

          Ledger.com
          Trezor Hardware Wallet

            + My Experience
            I have a trezor hardware wallet, but as of today not experiences to share. But will come in future.
            trezor.io

            My Summary

            If I have a bigger amount of crypto or NFT’s. I spread it over several wallets. And some wallets are protected with a Hardware Wallet.

            But playing a play to earn game where a lot of activities need to be signed, it takes much more time clicking these transactions with a Hardware Wallet (Be aware of this).

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