What are the best practices for protecting my ERC-20 wallet address from potential hacks?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the best practices for protecting your ERC-20 wallet address from potential hacks is to use a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making it extremely difficult for hackers to gain access to your wallet. They provide an extra layer of security and are highly recommended for storing large amounts of cryptocurrency. Make sure to purchase your hardware wallet from a reputable source and follow the manufacturer's instructions for setting it up and using it securely.
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• Dec 16, 2021 · 3 years ago
  Another important practice is to always double-check the website or platform you are using to access your ERC-20 wallet. Phishing attacks are common in the cryptocurrency space, where hackers create fake websites that look identical to the legitimate ones. These fake websites are designed to steal your wallet address and private keys. To avoid falling victim to phishing attacks, bookmark the official website of the wallet provider and only access your wallet through that bookmark. Never click on suspicious links or enter your wallet information on unknown websites.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we understand the importance of protecting your ERC-20 wallet address. One additional practice you can implement is to enable two-factor authentication (2FA) for your wallet. 2FA adds an extra layer of security by requiring you to provide a second form of verification, such as a code generated by an authenticator app, in addition to your password. This makes it much more difficult for hackers to gain unauthorized access to your wallet. Most reputable wallet providers offer 2FA as an option, so make sure to enable it for your ERC-20 wallet.
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