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Web3 Domains℠
  • 🏠首页
  • Web3 新闻
    • 📰科技
      The ENS Referral Protocol Post Cover

      The ENS Referral System: Adding an Affiliate Program to ENS Protocol

      What is the ENS Name Wrapper Post Graphic

      ENS 名称包装器:Web3 中的功能、优势和可能性

      ENS Domains, Lost NFT Relics Post Graphics

      ENS 域,丢失的 NFT 遗物

      热门标签

      • 提示
      • 销售量
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      • 身份
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    • 📰 整合
      Microsoft Edge is Building Ethereum Crypto-Wallet

      Microsoft Edge Testing Built-In Ethereum Crypto-Wallet With ENS & DeFi Swapping

      Spruce Integrates Sign-In with Ethereum into MetaMask

      Spruce Integrates Sign-In With Ethereum (SIWE) into MetaMask

      Shopify Integrates Sign-In With Ethereum

      Shopify Integrates with SIWE for Secure Web3-NFT-ENS Ecommerce Features

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      • 提示
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      Exploring the Possibilities of Arabic ENS Domains

      Exploring the Possibilities of Arabic ENS Domains

      Sadaf.eth of ENS Labs Empowering Women in ENS

      Sadaf.eth of ENS Labs: Empowering Women in ENS

      Pokémon ENS Club Gotta Catch 'em All!

      Pokémon ENS Club: Collectors Gotta Catch ’em All!

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      • 提示
      • 销售量
      • 指南
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      ENS DAO Small Grants Winners

      ENS DAO Small Grants Winners: Empowering Public Goods (R7) & Ecosystem (R5) Projects

      Hermès vs. ENS Owner Legal Battle Over NFT Domain Names & Trademark Law

      Hermès vs. ENS Owner: Legal Battle Over NFT Domain Names & Trademark Law

      Reclaiming Locked ETH From ENS Auction

      How to Reclaim Locked ETH via the Original ENS Auction Deed

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      Exploring the Current State of the ENS Digit Clubs

      Current State of ENS “Digits & Numbers” Clubs, Q1 2023

      The Mystery 👨.eth Wallet Post Cover

      Mystery of the “👨‍🦲.eth” Wallet

      Brands are Racing to Secure their ENS Names

      Brands Racing to Secure Their ENS Names!?

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      #4 Web3 Security Practices Post Cover Graphics

      Web3 安全最佳实践:第 4 部分

      #3 Web3 Security Practices Post Cover Graphics

      Web3 安全最佳实践:第 3 部分

      #2 Web3 Security Practices Post Cover Graphic

      Web3 安全最佳实践:第 2 部分

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Web3 安全最佳实践:第 2 部分

Wallet Security and Seed Phrases

PhoenixxDown.eth 经过 PhoenixxDown.eth
2022 年 8 月 17 日
在 安全
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In the introduction to this one-stop beginners guide to web3 security, we looked at the basics of loss prevention.

So with that foundation set, it’s time to address wallet security and how to navigate the technical aspects native to Web3. Let’s begin with seed phrases, the keys to your kingdom.

Protect Your Seed Phrase

A seed phrase is a group of random words generated by your crypto wallet when you first set it up. It’s incredibly important to keep a record of your seed phrase safe because if you lose it, there’s no recovery function.

Storing these words on any device which has an internet connection is not recommended, as there are a number of attack vectors where hackers can view the contents of your files if your PC has been infected. Thus, storing on your computer notepad, within your emails, or even taking a photo of them will not suffice here. In short, barring the scenario where you need to recover the wallet, never type your seed phrase anywhere.

To ensure maximum wallet security, always write your seed phrase down using pen and paper and store it in a dry, non-hazardous area. If you want to double down, buy a fireproof safe and store half of the seed phrase there, with the other half in a storage lock-up in a separate location.

Additionally, there are products that will mitigate a catastrophe occurring with the fragility of the paper option – you can check out the ‘9 Best Crypto Metal Plates for Recovery Seed Key and Wallet Backups’ here.

Screenshoot of Meta Mask Back Up Phrase Screen

Use Separate Wallets

You should never put all your ENS in one basket, as the old saying goes. The best way to protect your high-value assets is by using separate wallets and designating each wallet with a specific role. An example would look like this:

  1. Burner/Connector wallet. Only keep a small amount of liquid funds in these wallets and no NFTs that you regard valuable. Use this wallet for minting new NFTs, trading lesser-known coins on decentralized exchanges, or connecting to sites that you are not confident of in terms of security. The worst that can happen is the wallet gets compromised, but there is nothing valuable in there to take.
  2. Trading wallet. Use this to connect to trusted exchange sites (eg. ENS Vision, Opensea, etc) for the trading and/or short-term holding of assets smaller in value. It’s recommended you use a cold storage wallet for this but is not essential.
  3. Vault wallet. This is your coldest of cold wallets where you store your high-value grails and the bulk of your liquid funds. It’s imperative you use a cold storage option here. Think of this wallet exactly like a physical vault, things go in but rarely come out and are highly protected. It’s highly advised to never connect this wallet anywhere because we never take chances with the security of our highest value assets, even with trusted sites.

Representation of a Digital Vault

On that note, in the next installment, we will explore cold storage hardware wallets and the importance of their role.

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PhoenixxDown.eth

PhoenixxDown.eth

PhoenixxDown is a web3 enthusiast and investor, predominantly with an interest in NFTs and ENS technology. Phoenixx has been an avid writer since as long as he can remember, venturing into all forms of literacy expression from writing screenplays, to composing marketing copy for large brands, and most recently, information based articles for web3. He lives in London, and when not complaining about the weather, enjoys horse racing, saunas and raising his family.

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