Sharing, storage, and security best practices to keep you safe in Web3.
Before we dive in, remember what you learned in Web2. As we transition to Web3, it’s important to remember the online safety practices you follow right now. Almost all of the principles you follow today are applicable in Web3.
For example, you wouldn’t
- Share your social security number on TikTok
- Share your bank account login information in a Facebook group
- Click on a link DM’ed to you by an unknown account on Instagram
So you should avoid
- Sharing your wallet private key and seed phrase
- Sharing personal information
- Clicking on links DM’ed to you by users you don’t know
Now let’s dive into the best practices for safety in Web3.
⭐️ The Golden Rules ⭐️
A closer look at sharing, storage, and security:
1. Share safely ☎️
Tips for sharing information online
Here are a few things you should avoid sharing online:
- Your private keys and seed phrase — Avoid sharing your private keys and your seed phrase. Your seed phrase is used to recover your wallet if you ever lose access to your account. (Don’t worry if these terms are unfamiliar, check out my NFT Toolbox to learn more)
- Personal information — Avoid sharing financial and sensitive information in chats, communities, and forums.
A note from me — Only share what you are comfortable with and trust your judgment!
2. Secure your bag 💸
A brief introduction to secure cryptocurrency storage.
There are multiple ways to store your cryptocurrency. A simple way to look at cryptocurrency storage is: connected and unconnected storage.
- Connected storage — A wallet that is connected to the internet. For example, MetaMask and Coinbase. These wallets are commonly referred to as “hot wallets”. If you want to learn more about setting up a wallet read here.
- Unconnected storage — A wallet that is not connected to the internet. For example, Trezor and Ledger. These wallets are commonly referred to as “cold storage” or “cold wallets” because you can hold crypto offline, separate from your computer.
A note from me — There is no “right way” to store your cryptocurrency and assets. You should select an option or combination that works best for you! For larger amounts of cryptocurrency, people usually lean towards cold wallets. In theory, cold storage can be considered more secure since it is not connected to the internet.
3. Simplicity is key 🔐
Suggestions for security. Safety is as simple as reading before you click!
Prioritize your security and be conscious of what you click on. Reading a link before clicking can save you a lot of trouble.
A few ways you can practice link safety in Web3:
- Find the official project page for NFTs — If you are minting an NFT triple check that you are on the official project page. Some projects are so popular that people will make copycat websites. If you want to read more on minting and verifying NFT sites see this article.
- Avoid suspicious links — Be cautious of random links sent by strangers. On Discord, avoid interacting with or clicking on links sent to you through direct messages from users you don’t know.
A note from me — Overall don’t let this stress you out and trust your gut!
As you journey into Web3, remember to take what you learned from Web2 and the rules of safety with you.
If you found this article helpful or used this as a resource let me know how your experience was on Twitter!
Curious about how I evaluate NFT projects? Read my article What makes a Blue-Chip NFT.
I’m excited about building a welcoming and friendly environment in Web3 and thank you for reading!