4 Easy Ways To Keep Your Digital Cash Safe

nexuslabs (40)in #news • 7 years ago (edited)

1. Safeguard your SEED

A SEED is simply a series of random words that act like your Wallet’s ID. With it, you can access your digital cash from any internet enabled device anywhere in the world. In fact, anyone can, which is why you never want to lose your SEED. Once it’s gone, it’s gone forever. There’s no way to get it back.

Oh, and never, ever share your SEED with anyone, EVER!

For practical tips on how to keep your SEED safe, follow the suggestions found here.

2. Secure your Password

Along with your SEED your crypto wallet is secured with a password of your choosing. If your SEED is like a debit card, your PASSWORD is the PIN. Like your SEED it is very, very important that you keep it in a safe and secure place.

For useful tips on how to keep your password safe, follow the recommendations indicated here.

3. Don’t Burn Your Money

Would you ever set your money on fire just for kicks? No? Well, believe it or not careless owners of digital cash do exactly this every single day. How? By sending their cryptos to digital wallets that don’t exist!

So, make sure you’re always sending funds to a valid Wallet address.

To make sure this never happens to you, here’s how to verify a Wallet ID on the WAVES blockchain, for example.

4. Use A Hard Wallet

A hardware wallet or “hard wallet” is a specially designed digital memory device that essentially protects and facilitates one’s payments when online. They are engineered to be practically immune to tampering and cyber threats.

Need to perform a transaction? Plug in your wallet, go online, complete your transaction and then unplug it. Simple!

There are a lot of hard wallet options out there today so do your homework and compare all of their pros and cons.

What handy ways have you found for keeping your digital cash safe? Tell us in the comments below! And don’t forget to share this post with your friends and loved ones so they too can protect their digital cash.

Here to serve,

Mustafa Bisic
Team Saske