Topic: Spending extra to keep my assets out of trouble - page 2. (Read 323 times)

You can keep that new wallet for your interactions with that token, its smart contract only. Don't use that wallet to store your fund in other cryptocurrency and you should not fund that wallet in future.

Revoke smart contract approval in that wallet when you complete the swap and move your fund back to hardware wallet.

3 Minute Tips: How to Revoke Token Approval Following Opensea’s Latest Security Episode

https://etherscan.io/tokenapprovalchecker
https://revoke.cash/
https://app.unrekt.net/

Knowledge is power is what they say and knowledge applied is a super power is what I would say. You have shown that they knowledge that you have acquired since you joined the crypto space has given you the "super power" to discern and prevent an innocuous looking activity that could have been detrimental to the future of your assets. By reading this, I have also learned being that I am someone who trusts a lot. Although you spent some money($24) in this moving the token around, well it is better safe than sorry.

You only took wise steps for the token swap, and that's what an experienced crypto user would do for the safety of their asset. Anything that relates to the connection of a wallet is not 100% safe because there could be some attack that can cause the loss of all the assets in that wallet.One of my friends has been in a situation where his wallet was compromised due to connecting to a different website and Dex. Anytime he sends some valuable coins into that wallet, they automatically get moved to an unknown wallet. It's better to take this kind of step and lose some gas than to connect one's hardware wallet online, while the wallet holds all your valuable assets. 

That's the best way to protect your hardware wallet from any attacks we do not know how safe to connect a hardware wallet to any sites like VV token what you did is a must.
If you are holding a large amount of assets it is always better to have an alternative wallet(Non-custodial) if ever the project like VV token is trying to hack/connect to request for a different transaction you can avoid losing all of your assets by using the alternative hot or non-custodial wallet.

For Bitcoin transactions in Electrum, you can also do an airgap way to make a transaction and sign the transaction to an offline device with your hardware wallet which is more secure than signing the transaction with your hardware wallet to an online device.

Well I don't have much to say but just for the fact anything that has to do with connecting my main wallet online is definitely a no no for me because you don't have to be experience with you losing some funds to actually know that these things are real and many lose their coins always because of cases like this. Although for your investment on altcoins am not against it but if you ask me I think even if you are having other investment you should probably hold Bitcoin at a larger ratio and also have it on a separate wallet to avoid losing funds due to the fact that you are trying to upgrade your altcoins.

It was wise of you not to connect your wallet to that platform, as it's always advised to have a separate wallet for any tokens, airdrops, or faucets that require you to connect your wallet to their site. For a long time, many people have been victims of incidents where they connect their real wallets to unknown or malicious faucet sites and unfortunately get scammed, losing their funds.
As a long-term holder, you should consider holding reputable coins like Bitcoin in a hardware wallet where you don't always have to connect to a third party for upgrades. This is another reason why I don't trust most altcoins or tokens out there today. We should all be smart and vigilant to avoid mistakes that could put our funds at risk and leave us frustrated.

Check this out.



This is a screenshot of a token that I am holding presently and today I read about their v2 upgrade which is a must for every holders.

If i am a beginner I can easily connect my hardware wallet instead because the link is strictly from the project's official website.

I believe this is not a safe practice so I prefer to spend more on ETH gas fee, move the tokens out of my hardware wallet into a spare wallet connect the spare wallet to the website swap to the new V2 token, and move the new token back into my hardware wallet.

It's called safety practice, yeah I spend gas fees three times, $7 for moving the old token to another wallet address roughly $10 for the swap, and another $7 to send back into the hardware wallet.

It's a $24 thats well spent because my hardware wallet consists of many assets that are way higher than $24 in total value.

Nothing must confuse you to connect your main wallet to any platform even if it's the real platform for token swap, because you might think it's safe and these people have their ways with your hardware wallet later on.

I could have made this mistake today if I am new, but due to my past mistakes I tend to avoid such things again, you may just never know, do not trust any platform, project team or friends by connecting your wallet to any link provided, if its a must then consider a spare wallet.

Stay safe famz.