Difference between revisions of "Security"

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(See also [[Scam alerts]].)

Revision as of 14:54, 24 April 2018

(See also Scam alerts.)

Accessing your exchange

Never click on the top ads results in Google in order to avoid spoofed phishing websites mirroring legit exchanges, bookmark your favorite exchanges in your browser or on your desktop, and always triple-check that the URL address is legit.

Moving your ADA

In order to avoid getting hacked, it is recommended to copy your destination address from source, then paste it on a sticky note or a blank page, just to double-check that the address has not changed and is actually the same. This is to make sure your computer is not compromised without you knowing. Always do a test transaction first with a few coins in order to build confidence the first time. Then send the rest.

Storing your ADA

There are several options possible such as (from most secure to less secure): Cold Storage (a cryptographically secure device dedicated to storing Cryptocurrencies, such as the Ledger Nano S, Trezor etc...), Paper Wallets (your seed is written on a piece of paper with a QR code), Hot Wallets (browser-based wallets), and lastly, Exchanges (not recommended). By leaving your coins on exchanges, you are not the owner of the private keys.

Storing your seed

Never ever store your seed on anything connected to the internet. Make sure you wrote it down on a sheet of paper, did a back-up of it, and keep them somewhere safe. This seed, also called list of secret words, is what gives you access to your coins. Losing them means losing your money.

Do Your Own Research

With cryptocurrencies, you are responsible of your own security and of your money.

The Cardano Wiki Team cannot be hold responsible for any losses. Buying, selling and investing in cryptocurrencies is not without risk.