10 Key Steps to Enhance Asset Security

In today's complex encryption currency environment, it is crucial to protect your asset security. Here are 10 simple but effective steps that can help you strengthen your defenses and ensure your asset security.

1. Establish a multi-signature wallet

Create a multi-signature wallet for long-term holding of encryption assets, also known as a "vault". A multi-sign wallet requires multiple private key authorizations to conduct transactions, greatly enhancing security. Even if one private key is leaked, your assets remain secure. Starting with a 2-of-3 signature strategy is a good choice, and consider using a hardware wallet as a partial signer to further enhance security.

2. Set Up a Dedicated Risk Wallet

Create a wallet specifically for daily activities, such as airdrop claims or NFT minting. Separating your daily use wallet from long-term savings can effectively reduce risk. Only top up this wallet with the necessary funds as needed. Consider using authorization services to delegate certain permissions of the vault wallet to the risk wallet without actually moving any assets.

3. Using the Trade Preview Tool

Download the trading preview tool, which can visually display transaction information before you approve anything. These free browser extensions will pop up windows explaining all suggested transaction details, effectively preventing phishing attacks. Use such tools to preview all transactions.

4. Review Token Expenditure Permissions

Regularly check and revoke unnecessary unlimited token spending approvals. Many DeFi applications require unlimited approvals to simplify operations, but this may provide attackers with opportunities. Using dedicated platforms can easily modify your token quotas and enhance asset security.

5. In-depth Research on the Project

Before using any new project, be sure to conduct thorough research. Check the project documentation, FAQs, white papers, etc., to understand its details and risk status. If you can't find good documentation, that in itself is a warning sign. Don't blindly follow trends; make sure to understand the basics first.

6. Monitor Asset Status

Use a portfolio tracker to monitor your cryptocurrency positions in real-time. These tools can provide you with an overview of your assets across various wallets and platforms. Regular monitoring not only helps observe returns but also aids in promptly identifying unusual activities and taking measures to protect remaining assets.

7. Stay Updated on Industry Trends

Stay closely informed about the latest developments in the cryptocurrency industry, especially news regarding security incidents. Attacks on projects such as DeFi protocols can directly or indirectly affect your assets. Follow authoritative news aggregation and analysis channels to receive important information in a timely manner.

8. Strengthen Web2 Privacy Protection

Adopt good operation security ( OpSec ) practices to protect your Web2 activities. This includes: using secure email providers, using strong passwords for different accounts, avoiding associating your phone number with encryption platforms, using two-factor authentication ( to avoid SMS-based 2FA ), locking your SIM card, using the latest antivirus software, etc.

9. Develop Emergency Plans

Prepare for the worst-case scenario by developing an asset emergency transfer strategy. Consider using professional Web3 security services that can help you quickly detect threats and transfer assets to predetermined secure wallets. For advanced users, you may also consider using more complex monitoring and protection services.

10. Report suspicious activities in a timely manner

If you encounter phishing or other suspicious activities, please quickly alert the community. You can post on social media or report to a dedicated database. It only takes a short amount of time to do this, but it could help others avoid losses.

By implementing these steps, you can significantly enhance your encryption asset security and explore this field full of opportunities and risks with greater composure and confidence. Remember, security is always the top priority, and it is crucial to remain vigilant and continually learn new security practices.