TOP 10 Security Measures in Crypto & Blockchain

Top 10 Security Measures for Long-Term Crypto Access

Introduction Ensuring secure and continuous access to your cryptocurrency holdings over years requires a combination of strong security practices and organized record-keeping. This document outlines essential security measures to help safeguard your crypto assets.

1. Password Management

• Use a Password Manager: Secure your crypto assets by using a reputable password manager, such as Bitwarden. It generates and stores strong, unique passwords in an encrypted vault, reducing the risk of password reuse or weak passwords. Bitwarden is open-source and allows for self-hosting, providing added security over third-party managed services.
• Best Practices: (only VIP customers)
• What to Avoid: (only VIP customers)
• Check for Data Breaches: Use tools like PenTester to check if your email or other personal data has been compromised in data leaks. Regularly update any compromised passwords.

2. Login Information Management

• Remember Your Login Methods: Keep track of your login methods and associated platforms. For instance, note whether you used a Google account, email, or username for login.
• Documentation: Maintain a secure and offline record of this information to avoid being locked out in the future.

3. Two-Factor Authentication (2FA)

• Avoid SMS-Based 2FA: Use app-based 2FA solutions like Google Authenticator or Authy, which are more secure than SMS-based options.
• Backup 2FA Data: Securely back up your 2FA data to ensure you can restore access on new devices if needed. Store these backups in a secure, offline location.

4. Wallet Address Management

• Document Wallet Addresses: Keep a detailed and organized record of all wallet addresses, their purposes, and their types (e.g., MetaMask, hardware wallets). Store public keys only, never private keys in insecure locations.

5. Record-Keeping for Testnets and Airdrops

• Track Your Activity: Document your participation in testnets, airdrops, and any other blockchain activities. This ensures you remember the steps taken and the potential rewards or implications involved.

6. Backup Strategy

• Secure Seed Phrases: Store seed phrases offline, engraved in metal for durability. Ensure you remember where and how they are stored, including the encryption method used and who, if anyone, has access.
• Redundancy and Updates: If you use methods like Shamir’s Secret Sharing, keep detailed instructions on how to reconstruct your keys. Regularly review and update your backup procedures to ensure they remain current.

7. Calendar Management

• Track Time-Sensitive Events: Use calendar tags or categories to track important dates, such as staking end dates or airdrop deadlines. Set reminders on secure devices, and consider using scheduled tweets or messages as backups.

8. Documenting Financial Activities

• Lending, Borrowing, Staking, and More: Keep a detailed record of all DeFi activities, including the platforms used, strategies employed, and the steps taken. This will help in future audits, strategy reviews, or troubleshooting.

9. Software and Tools

• Software Documentation: Record details of any additional software used, including versions, extensions, and their purposes. Ensure backups of essential software are available offline, and keep this documentation updated.
• Trading Records: Back up transaction histories and document trading strategies. This helps in both tax filing and strategy assessment.

10. Tax Considerations

• Tax Records: Keep meticulous records of all trading activities relevant to tax reporting. Consider using specialized tax software for crypto transactions and ensure timely and accurate tax declarations.

General Security Considerations

• Enhanced Security Measures:Use hardware wallets for cold storage.Regularly revoke unnecessary dApp permissions.Conduct regular self-audits using tools like Ngrave's security check.
• Phishing and Social Engineering Threats:E-Mail Phishing: Be vigilant with unsolicited emails, especially those requesting sensitive information. Always verify the sender’s email address and check for signs of phishing.Spear-Phishing: Double-check requests for sensitive information, particularly from unfamiliar contacts.Smishing and Vishing: Be cautious with unexpected SMS or calls asking for personal data.Clone Phishing: Verify the authenticity of any unusual emails or requests by contacting the source through a separate communication channel.

Conclusion

Security in the crypto space requires a proactive and comprehensive approach. By following these guidelines, you can greatly reduce the risk of losing access to your assets or falling victim to security breaches. Always stay informed about the latest security threats and continually update your practices to stay one step ahead.