Hello fellow Cardanians :) I am a long-term investor in Cardano

Question

Hello fellow Cardanians :) I am a long-term investor in Cardano

and been acquiring more ADA since 2020. I see the brightest future for the growing ecosystem.

Recently I have been reading many-a-horror story about how people lost all their ADA to criminal activity and realized that I cannot afford to lose my investment (or at least to restore it should it be lost...). I was wondering how malicious actors can get to one's ADA? I am aware only of three ways:

1) Phishing (fake wallet apps, e-mail links, websites, TG staff impersonators, you name it) to directly steal your seed phrase.
2) Seed phrases stored in unencrypted online storage when they can be stolen (or any form of digital media, really).
3) Active hacking of one's system, keylogging spending passwords, spying through smartphone cameras and whatnot... I don't know how common this is.

Are there any other ways a scammer might get to my ADA?

What I have done so far to protect myself:

1) Always make sure I use official wallets when restoring on a new device or updating (triple and quadruple-check every single time).
2) Use Daedalus only on desktop, and Yoroi on mobile.
3) Only store my seed phrase handwritten on paper (various secure locations, never digitized at all in any way, shape, or form, or sent to the printer ever).
4) Run regular malware and spyware checks on my PC (I use Malwarebytes), +a standard anti-virus scan.

Is there anything else I can do to protect myself? I swear many of those horror stories had people claiming to do all of the above and still their ADA was somehow stolen... Any advice from people "in the know" would be much appreciated.

#ada #blockchain #cryptocurrency #english

0

20.12.2021

5 ответов

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Stamme Rama Автор вопроса

George [APEX]
use a hardware wallet.

Does a hardware wallet basically store your encrypted seed phrase? I am ashamed to say I am still not 100% on how it works. Also, it would surely protect from things like keyloggers, right? Since nothing has to be manually typed to complete a transaction or access a wallet, presumably.

0

20.12.2021

Henrique A. Guerreiro Dias Evaristo

Stamme Rama
Does a hardware wallet basically store your encryp...

my guess is that it has a 2 part password ... your hardware wallet has a part of the password, while your seed is your other part

0

20.12.2021

George [APEX]

Stamme Rama
Does a hardware wallet basically store your encryp...

you use a 24 words seed phrase to generate the keys. the keys are stored in the wallet, never leaving it. to do transactions, you connect the hardware wallet to the wallet (Daedalus, Yoroi, ccvault.io, typhonwallet.io, nami or whatever you want to use) and you will have to confirm the transactions with the hardware wallet. you will never type the recovery seed on a computer. the hardware wallet also has a pin to lock it.

0

20.12.2021

George [APEX]

Henrique A. Guerreiro Dias Evaristo
my guess is that it has a 2 part password ... your...

false.

0

20.12.2021

George [APEX] · Accepted Answer

George [APEX]

use a hardware wallet.

0

20.12.2021

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Hello fellow Cardanians :) I am a long-term investor in Cardano

5 ответов

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