How to Secure Our Wallet to Prevent Being Hacked! - page 2.

posi

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Quote from: Charles-Tim on April 29, 2021, 05:22:59 PM

Quote from: posi on April 29, 2021, 02:34:54 PM

Metamask does support Bitcoin but it require some technical elaboration and it done through BEP2.0 (BSC) integration.
About myerherwallet have once seen a buying Bitcoin option on it but I never try it out so I don't if support it or not.

BEP2:- Binance Chain
BEP20:- Binance Smart Chain (BSC)

I believe you meant BSC (BEP20)

But the normal bitcoin we meant is the one that its addresses starts from 1, 3 or bc1 which makes use of bitcoin blockchain for its storage and ledger, not a smart contract.

Yes, was talking aboug BEP20 (BSC)
I know you guys are talking about normal Bitcoin but you aaid " Metamask and myetherwallet wallet do not support bitcoin (correct me if wrong)" which is the reason why I point out the features of introduced by the Binance Smart Chain.

Daodex

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Be 💯 serious with your crypto wallet like your life depends on it or treat them like you would treat your bank accounts, believe me crypto wallets are banks on a whole new level, no one will have a clue about what your worth is, isn't that cool?

Stanlo

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Many blame wallets hacks on the wallet but honestly most times this happens because of mistakes and carelessness on the users, the only crypto wallets that aren't safe are the centralised wallets but others that gives seed or private keys and still got hacked is due to users fault

mersal

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For a normal user who is not going to have in millions can make use of the electrum wallet which is very convenient for long term storage as well as day to day transactions but keeping the private key in a secure place is the key no matter what kind of wallet you are using.

I moved to electrum for bitcoin storage for years now where I am not having any issues yet but I am not having any mod apps in my smartphone and also I am always aware of malicious links and trojans.

2FA is literally not going to save you from hacks as long as the scammer managed to get your private keys, it just a useful feature on exchanges but not really useful on a wallet.

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Quote from: Rana590 on April 27, 2021, 01:56:58 AM

4. Check Balance
It is not necessary to check our balance everytime by entering our private key.

For bitcoin, you don't have to provide your private key to check your balance. You can set up a watching-only wallet by using your public address. This way, you don't expose your private keys to the Internet.

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7. Enable 2FA
It is important to enable 2fa if our wallet serve this feature.

You only need your seed/private key to access your wallet. Any wallet software that has 2FA feature is a custodial wallet which are not safe and you should not use them if you care about the security of your funds. A better alternative for 2FA is to set up a 2of2 multisig wallet and keep each co-signing private key/seed on a different device.

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8. Free Wifi
We shouldn't use free wifi at all and by using free wifi

If you have no other option but to connect to a public WIFI, then at least connect to it with a reliable and secure VPN.

Charles-Tim

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Quote from: posi on April 29, 2021, 02:34:54 PM

Metamask does support Bitcoin but it require some technical elaboration and it done through BEP2.0 (BSC) integration.
About myerherwallet have once seen a buying Bitcoin option on it but I never try it out so I don't if support it or not.

BEP2:- Binance Chain
BEP20:- Binance Smart Chain (BSC)

I believe you meant BSC (BEP20)

But the normal bitcoin we meant is the one that its addresses starts from 1, 3 or bc1 which makes use of bitcoin blockchain for its storage and ledger, not a smart contract.

posi

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Quote from: Charles-Tim on April 27, 2021, 06:44:34 AM

Chrome itself is a broswer, and online, chrome extension wallets like matamask wallet and myetherwallet wallet do not support bitcoin (correct me if wrong), also they are just web wallets, web wallets are most vulnerable in design, and private key is online.

Metamask does support Bitcoin but it require some technical elaboration and it done through BEP2.0 (BSC) integration.
About myerherwallet have once seen a buying Bitcoin option on it but I never try it out so I don't if support it or not.

HashingTower

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Quote from: Oshosondy on April 29, 2021, 03:53:46 AM

Quote from: ZaebaloRegitsa4 on April 28, 2021, 01:32:35 PM

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

Try to read the post very well, having a cold wallet offline generating digital signatures for transactions and watch only wallet for tracking the transactions and balance is very safe, it is even one of the safest ways to make use of online wallet in an offline way.

Quote from: ZaebaloRegitsa4 on April 28, 2021, 01:32:35 PM

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

Ledger nano is not a paper wallet. How can someone outsmart himself while using paper wallet? That is not clear at all.

Been careless is not outsmart, it's true that some people are so freaking careless, even if they use hardware wallet they can still lose their assets in many different ways, there are crypto mobile wallets users that never lost their assets for many years you know

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Quote from: Refrumatrix on April 29, 2021, 02:15:38 AM

Paperwallet, written seeds on stainless steel, backup inside mail or buying hardware wallet, all these doesn't mean your coins are safe because it still depends on the users themselves, you can't be careless and using a crypto wallet you will eventually do the most stupid thing on day, you can to be a disciplined person to handle your wallet

I agree. In addition to all the rules that were advised above, do not forget about your behavior on the network. You shouldn't tell anyone about the amount of your cryptocurrency, thereby stirring up interest in your funds among hackers.
In addition, your systems must be constantly updated. Your applications must be up to date. And of course, don't turn your back on antivirus software. I would not spare money to purchase a licensed antivirus that regularly updates its antivirus databases.
Your mail should only be used for specific purposes. You shouldn't use it for every need. Likewise, passwords must be complex and have the correct storage.
As for the Chrome browser, its store is full of extensions that have been caught spying on users, which can lead to further loss of funds. I prefer the Firefox browser.
And these are just some ways to keep your wallets safe. It is always necessary to remember that only you are responsible for the safety of your wallets. And how you feel about it will be an indicator of your safety.

Oshosondy

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Quote from: ZaebaloRegitsa4 on April 28, 2021, 01:32:35 PM

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

Try to read the post very well, having a cold wallet offline generating digital signatures for transactions and watch only wallet for tracking the transactions and balance is very safe, it is even one of the safest ways to make use of online wallet in an offline way.

Quote from: ZaebaloRegitsa4 on April 28, 2021, 01:32:35 PM

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

Ledger nano is not a paper wallet. How can someone outsmart himself while using paper wallet? That is not clear at all.

dihari

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Hardware wallet is the most secure and recommended way to store your crypto right now. Even a newbie can use hardware wallet like ledger nano.

I have made similar topic about how to keep your bitcoin secure sometime ago. Maybe it will give people more references on how to secure their crypto. Check it out https://bitcointalksearch.org/topic/m.56528845

Refrumatrix

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Paperwallet, written seeds on stainless steel, backup inside mail or buying hardware wallet, all these doesn't mean your coins are safe because it still depends on the users themselves, you can't be careless and using a crypto wallet you will eventually do the most stupid thing on day, you can to be a disciplined person to handle your wallet

ZaebaloRegitsa4

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Quote from: Upgrade00 on April 27, 2021, 01:50:15 PM

If you own two devices, you can initiate a transaction without your keys being exposed to an internet connection.

It is very difficult and difficult to do in reality. If you have this level of knowledge, you must have a hardware wallet. Otherwise you will be robbed

The paper wallet has many disadvantages too. There is a great risk of outsmarting yourself. That is, lose your keys or make them inoperable.
People manage to lose coins from the ledger...

Charles-Tim

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Quote from: mk4 on April 27, 2021, 10:49:38 PM

True. It's just that a very very small minority(probably sub 1%) has the knowledge to create a paper wallet correctly. Though I'd like to think of myself as a decently(definitely not an expert-level) technical person, I still don't have THAT much of a confidence to create one correctly.

Although, some people do think paper wallet are only the wallet generated from sites like bitaddress, some sites like that have even been turned scam in the past, which increase the risk of generating such paper wallet, but although bitaddress remains one of the legit ones as of the time I post this. But, paper wallet in my opinion have gone beyond that, if I have an offline or airgapped phone, downloaded electrum wallet, transferred to the offline or airgapped phone, and I open the wallet to generate seed phrase. Having like five addresses with me, and I deleted the wallet after I backup the seed phrase on paper, I think that is still a paper wallet which you pretty have good knowledge about. But people only think of sites like bitaddress when thinking of creating a paper wallet.

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Quote from: Welsh on April 27, 2021, 05:15:37 PM

I agree, its usually not a requirement for everyone. However, theoretically it is more secure to create a offline paper wallet, or a offline wallet than use something like a hardware wallet. Despite, them being pretty good, and pretty sound they still have a way of attack. Whereas, paper wallets, and offline wallets are only ever compromised through user mistakes, usually upon creating them or losing the credentials.

So, although I do agree, it entirely depends on the needs of the person. If you are storing large amounts, then a offline could be the better solution. Its goal specific as with anything.

True. It's just that a very very small minority(probably sub 1%) has the knowledge to create a paper wallet correctly. Though I'd like to think of myself as a decently(definitely not an expert-level) technical person, I still don't have THAT much of a confidence to create one correctly.

Welsh

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Quote from: mk4 on April 27, 2021, 09:34:11 AM

True. I think we should kinda stop mass recommending paper wallets to literally everyone though. Creating a paper wallet sure is easy as heck, but creating a paper wallet correctly and securely most probably isn't especially for those who barely know anything about security. Hardware wallets are still the better sort of 'mass recommendation' option in my opinion.

I agree, its usually not a requirement for everyone. However, theoretically it is more secure to create a offline paper wallet, or a offline wallet than use something like a hardware wallet. Despite, them being pretty good, and pretty sound they still have a way of attack. Whereas, paper wallets, and offline wallets are only ever compromised through user mistakes, usually upon creating them or losing the credentials.

So, although I do agree, it entirely depends on the needs of the person. If you are storing large amounts, then a offline could be the better solution. Its goal specific as with anything.

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Quote from: ZaebaloRegitsa4 on April 27, 2021, 12:59:20 PM

The hardware wallet has a distinct advantage: this forms a transaction within itself. Your keys never enter the PC's memory. Any other wallet will require you to enter your keys / phrase / password into your PC. And it can be intercepted.

If you own two devices, you can initiate a transaction without your keys being exposed to an internet connection.
One device would hold the actual wallet; this should be an airgapped device.
The other would contain the watch only wallet, this does not have to be airgapped.

If you initiate a transaction on the watch only wallet, you can copy or scan the raw transaction into the other device for signing and then send it back to the watch only to be broadcasted.

You would of course still need to be extra cautious when making transactions, but the potential risk is reduced.

ZaebaloRegitsa4

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The hardware wallet has a distinct advantage: this forms a transaction within itself. Your keys never enter the PC's memory. Any other wallet will require you to enter your keys / phrase / password into your PC. And it can be intercepted.
The recipient's address can also be swapped. Viruses have become so wiser that they choose a visually similar address that will be swapped. If you are not careful, you can send crypto to someone else's address. The hardware wallet offers a check on the display. If you are attentive, it excludes the swap.

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Quote from: Rana590 on April 27, 2021, 01:56:58 AM

We can prevent being hacked if we download and install chrome extension. Mew chrome extension and MetaMask chrome extension are available to install.

No. Chrome extensions are why people are getting hacked.

Quote from: Rana590 on April 27, 2021, 01:56:58 AM

It is not necessary to check our balance everytime by entering our private key. We can easily be able to check our balance and transaction from:

(a) https://etherscan.io/
(b) https://bscscan.com/
(c) https://tronscan.org/
(d) https://www.blockchain.com/explorer

At the time of transaction, we can use our private key. If possible, store private key offline.

5. Don't Trust SSL Only
Just because a website uses an SSL certificate does not mean that the website is completely secure. Buying an SSL certificate is not a complicated matter. We should double check the website before entering private key.

Please DO NOT key your private key into any website.

Storing your private keys offline doesn't make anything more secure. You'll probably be looking at making an air-gapped wallet in this case.

Quote from: Rana590 on April 27, 2021, 01:56:58 AM

7. Enable 2FA
It is important to enable 2fa if our wallet serve this feature. We can use google authenticator, mobile number and gmail as 2fa method.

2FA is not perfectly bulletproof against malware attacks. There are many variants of malwares which seeks to exploit the user differently and the most common one is a clipboard malware which your 2FA won't protect unless you double check your transactions.

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Quote from: Rana590 on April 27, 2021, 01:56:58 AM

2. Install/ Download Chrome Extension
We can prevent being hacked if we download and install chrome extension. Mew chrome extension and MetaMask chrome extension are available to install.

I don't want to use wallet extensions and if I have other wallets to use, I will not install any extension on my browsers.

Perhaps I am too paranoid about risks and I admit that I don't have skills to verify any extension. Consequently, I would prefer to make prevention as it is better than cure.

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