📢Attention Yetis📢
How to Keep your Funds SAFE - MetaMask Guide.
If you’re keeping everything in the same wallet and/or use the same wallet for every project then I have to point out to you that you might need to change your habits.
Let’s begin.
How to Keep your Funds SAFE - MetaMask Guide.
If you’re keeping everything in the same wallet and/or use the same wallet for every project then I have to point out to you that you might need to change your habits.
Let’s begin.
2/ How’s your wallet situation right now?
A) One wallet for everything and the same wallet for every project.
B) Multiple wallets but don't use one wallet per project.
C) One wallet per project and keep funds in a main wallet.
Options A or B, this thread is for you.
A) One wallet for everything and the same wallet for every project.
B) Multiple wallets but don't use one wallet per project.
C) One wallet per project and keep funds in a main wallet.
Options A or B, this thread is for you.
3/ What’s the safest option?
The best option is having multiple wallets, using one wallet per project, and keeping the funds that you’re not currently using in the main wallet that doesn’t interact with any contract, in a hardware wallet such as Ledger or Trezor.
The best option is having multiple wallets, using one wallet per project, and keeping the funds that you’re not currently using in the main wallet that doesn’t interact with any contract, in a hardware wallet such as Ledger or Trezor.
4/ Why should you have multiple wallets?
More privacy and security when it comes to having multiple wallets.
Main ways in which your funds can be stolen:
- Your wallet can be hacked from outside.
- Your funds can be stolen if you allow a sketchy project to spend your tokens.
More privacy and security when it comes to having multiple wallets.
Main ways in which your funds can be stolen:
- Your wallet can be hacked from outside.
- Your funds can be stolen if you allow a sketchy project to spend your tokens.
5/ What’s spending allowance?
In order to use any project, you’ll first need to allow it to spend your tokens.
It means that in order to use the functions of a contract you first have to give it permission to access your tokens.
e.g. Farming; Staking; Providing liquidity...
In order to use any project, you’ll first need to allow it to spend your tokens.
It means that in order to use the functions of a contract you first have to give it permission to access your tokens.
e.g. Farming; Staking; Providing liquidity...
6/ What could happen if you allow a contract to spend your tokens and the project is not safe?
Well… we invite you to read this: decrypt.co/43927/ethereum…
Well… we invite you to read this: decrypt.co/43927/ethereum…
7/ Yes, we know, now it begins to feel a little bit scary, doesn’t it?
Well, by having multiple wallets (and using one wallet per project) you can store safely the funds that you don’t want to invest.
Well, by having multiple wallets (and using one wallet per project) you can store safely the funds that you don’t want to invest.
8/ Isn’t it hard to manage so many wallets?
No, not at all! MetaMask makes it extremely easy.
How do you do it?
1) Create a brand new main wallet.
2) Create new wallets, one for each project.
- Click on your wallet’s avatar.
- Click on “Create Account”.
- Choose a name.
No, not at all! MetaMask makes it extremely easy.
How do you do it?
1) Create a brand new main wallet.
2) Create new wallets, one for each project.
- Click on your wallet’s avatar.
- Click on “Create Account”.
- Choose a name.
9/ That’s it, you just created a new wallet that’s going to be used only for the chosen project! Now transfer your tokens from the Main Wallet to the Project X Wallet.
We understand that these events can be a bit confusing. Feel free to join t.me/BlizzardMoney
We understand that these events can be a bit confusing. Feel free to join t.me/BlizzardMoney
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