10 Key Steps to Protect Asset Security

In today's complex encryption currency environment, ensuring asset security is crucial. Here are 10 simple yet effective steps that can help you strengthen your defenses against phishing and other fraudulent activities, making your encryption currency journey safer and smoother.

1. Establish a Multi-Signature Wallet

Create a multi-signature wallet for long-term held encryption, which is similar to a digital bank vault. A multi-signature wallet requires multiple private keys to authorize any transaction, so even if one private key is compromised, your asset security remains intact. You can start with a 2-of-3 multi-signature strategy and consider using a hardware wallet as one of the signers to enhance security.

2. Set up a risk wallet for daily use

Create a wallet specifically for daily activities, such as airdrop claims or NFT minting. Do not store a large amount of assets in this wallet; simply recharge it as needed. Consider using a delegation service to delegate the permissions of your main wallet to a risk wallet, without directly moving or jeopardizing your assets.

3. Use the Trading Preview Tool

Download the trading preview tool to help you visualize trade content before approving any transactions. These free browser extensions will explain all suggested trades, serving as an important barrier against phishing.

4. Regular Review of Token Expenditure Permissions

Regularly check and revoke unnecessary unlimited token spending approvals. Many DeFi applications require unlimited approvals, but this can be exploited by attackers. Regular monitoring and revocation of these approvals can significantly enhance asset security.

5. In-depth Research on the Project

Before using any new project, conduct thorough research. Check the project's documentation, FAQs, white papers, etc., to understand its details and risk status. If you can't find good documentation and educational resources, that in itself is a warning sign.

6. Real-time Monitoring of Assets

Use a portfolio tracker to monitor your encryption currency positions. These tools provide a real-time overview of assets across various wallets and platforms, helping to promptly identify unusual activities.

7. Stay updated on industry trends

Stay updated on cryptocurrency news, especially recent security incidents and hacking attacks. Follow reliable news sources and analyses to take action before potential threats affect you.

8. Strengthen Web2 Security Measures

Do not ignore traditional cybersecurity. Use a secure email provider, adopt strong passwords and do not reuse them, avoid associating phone numbers with encryption platforms, use advanced two-factor authentication, and keep your devices and software updated.

9. Develop Emergency Plans

Prepare for the worst-case scenario. Consider using tools that can quickly transfer assets, or advanced users can use services that can detect and evade on-chain attacks in milliseconds.

10. Actively Report Suspicious Activities

If you encounter phishing or other suspicious activities, please raise an alert quickly. You can post on social media or report to a specialized database. Your actions may help others avoid losses.

By following these steps, you can significantly enhance your encryption asset security. Remember, in the world of cryptocurrency, vigilance and continuous learning are key to protecting your assets.