10 Key Steps to Strengthen Encryption Asset Security

In today's world of encryption, protecting asset security is crucial. This article will introduce 10 simple yet effective steps to help you enhance your defenses against phishing and other scams, ensuring a safe and smooth encryption journey.

1. Establishing a Multisignature Vault

Creating a multi-signature wallet for cryptocurrencies held long-term is a wise move. Multi-signature wallets require multiple private keys for authorization to execute transactions, greatly enhancing asset security. Even if one private key is compromised, your assets remain safe. It is recommended to start with a 2-of-3 multi-signature strategy and consider using a hardware wallet as one of the signers to further enhance security.

2. Set Up a Dedicated Risk Wallet

Routine encryption activities such as airdrop claims or NFT minting should use a separate dedicated wallet, rather than your main vault. This "risk wallet" only needs to have a small amount of cryptocurrency deposited as needed. Some services allow you to delegate the permissions of your vault wallet to the risk wallet, enabling participation in activities without transferring actual assets.

3. Using the Trading Preview Tool

The transaction preview tool is a free browser extension that provides a visual explanation before you approve any transaction. These tools effectively prevent phishing attacks and help you identify potential malicious transactions. Be sure to use such tools before executing any transactions.

4. Regular Review of Token Authorization

Many Ethereum applications require users to approve "unlimited" token spending permissions. However, this can pose security risks. It is important to regularly review and revoke or limit unnecessary authorizations. Some online platforms can help you easily manage token authorizations.

5. In-depth Study of the Project

Before participating in any encryption project, it is essential to conduct thorough research. Carefully read the project documentation, FAQs, and white papers to gain an in-depth understanding of its details and risk status. If a project lacks comprehensive documentation and educational resources, this in itself is a warning sign.

6. Monitor Investment Portfolio

Use a portfolio tracker to monitor the status of your encryption assets in real time. These tools provide an overview of assets across various wallets and platforms, helping to promptly identify unusual activities and take action to protect the remaining assets. Regular monitoring is not only for observing gains but also an important part of risk management.

7. Stay Updated on Ecosystem Dynamics

Stay closely informed about cryptocurrency news, especially the latest security incidents and vulnerability information. Some authoritative encryption media and social media accounts can quickly provide analysis and interpretation of important events. Timely access to information helps you take action before potential impacts expand.

8. Strengthen Web2 Personal Information Security

Protecting your Web2 activities is equally important. Use a secure email provider, set strong passwords for different accounts, avoid linking your phone number with encryption platforms, use two-factor authentication (but do not use SMS-based 2FA), and regularly update your antivirus software. These measures can effectively reduce the risk of being attacked.

9. Develop Emergency Strategies

Even with all precautions taken, be prepared for the worst-case scenario. Consider using some Web3 security services that can help you quickly transfer your assets to a pre-set backup wallet or detect and evade on-chain attacks within milliseconds.

10. Report suspicious activities promptly

If you encounter phishing or other suspicious activities, please raise an alert immediately. You can post on social media, share information in relevant groups, or submit reports to dedicated encryption security databases. Your actions may help others avoid losses.

By taking these steps, you can significantly enhance the security of your encryption assets. Remember, in the world of encryption, security is always the top priority. Stay vigilant, keep learning, and make your encryption journey safer and smoother.