Your Ether funds are precious, and so is your Ethereum wallet. In case of any trouble, here are the top 5 tips that you can follow to keep them both safe.
Keep your Ether savings in hardware wallets
Hardware wallets are essentially wallets in physical forms like USBs.
Even when they are used to make crypto transactions online, your funds can be stored offline, which significantly increases security. To authorize transactions, you only need to plug in this device to any computer with internet connection and take other particular security actions such as physical clicks.
These features make hardware wallets by far the most secure wallet option on the market for keeping your cryptocurrency funds safe. They come with a pricey cost but are worth every penny in return.
Hence, for funds considered as your life-long savings, you should take into account these hardware wallets for advanced security.
Read more: Different Type of Cryptocurrency Wallets for more information regarding different wallet types and their features.
For active use, choose Ethereum wallet software and apps from reliable providers
When you keep your money at banks, you can always have your savings account left untouched in one place and a spending account for active daily use in another place. That is when Ethereum wallet software and apps come in, which let you store and manage actively used funds.
When choosing an Ethereum wallet software or app, make sure that you conduct a serious investigation of the software and app provider. You should check their business information like status, history of fraud or if they are still active on various social media channels.
Keep your Ethereum wallet software or app up to date
New efforts are made every day by developers to improve not only your crypto experience but also the competitiveness of their product.
It would be best if you always keep an eye on updates as soon as they come in by following the developer of your software or app on multiple social media channels for prompt notifications.
With every software version update, your Ethereum wallet software or app is likely to encounter less issue with bugs, have constantly improved user interface, useful added features and most importantly, gain access to better security options.
Backup your Ethereum wallet or choose restorable Ethereum wallet software and apps
Computer failures and human error happen all the time and are always unpredicted. Thus, the best solution is to protect ourselves against them.
You can do so by making regular backups for your entire wallet and store it in a safe place, encrypting online backups, using many secure locations for those backups, or choosing Ethereum wallet software or apps that allow restoration. All of these safe steps will allow you to recover your Ethereum wallet later in case of any trouble.
Private keys and passphrase
It is highly essential to keep the information related to your Ethereum wallet in safe places. However, it never hurts to think about how you can let trusted persons or family know about or gain access to your Ethereum wallet in case of unfortunate events.
Your crypto funds may be lost forever if you do not have any backup plan left behind for your peers and family members. If no one in the world is aware of the details regarding your Ethereum wallets, such as passphrase, passwords or private keys, after you are gone, there's no hope to recover the funds in your Ethereum wallets. Taking a bit of time to set up plans can make a huge difference.
Looking for a secure Ethereum wallet for every day use? Check out HB Wallet now.