A wallet security checklist

The checklist

• ☐ Seed phrase written on paper or metal, never photographed or typed into a cloud service.
• ☐ Long-term savings kept on a hardware walletHardware wallet A small physical device that keeps your private keys offline and signs transactions without exposing them..
• ☐ A separate “hot” wallet with small amounts for trying new apps.
• ☐ Bookmarks for the exchanges and apps you use, rather than search results or links.
• ☐ Two-factor authentication on exchange accounts, using an app or security key rather than SMS.
• ☐ Token approvals reviewed and unused ones revoked every few months.
• ☐ Wallet software and device firmware updated only from official sources.

Before you sign anything

Read what the wallet is asking you to approve. Be especially careful with:

• Unlimited token approvalsToken approval Permission you give a smart contract to move a specific token from your wallet. to contracts you don’t recognise.
• “Permit” or off-chain signatures that can authorise transfers without a normal transaction.
• Blind signing, where your device can’t show what you’re signing.

If you can’t tell what a transaction does, don’t sign it.

Exchange accounts

If you keep funds on an exchange, you’re relying on its security and solvency. Look for exchanges that publish proof of reservesProof of reserves A report showing that a custodian holds enough assets to cover what customers have deposited. including liabilities, and don’t keep more there than you need.