Cryptocurrencies have revolutionized the way we view forms of money and a change of levels of responsibilities has evolved as well. No longer are the day of having to worry about “banker hours” as with a few taps of a screen value can move across the world securely. Amazingly this all happens on an immutable ledger called the blockchain while being checked for errors automatically.
The Dilemma
Understand cryptocurrencies are digital cash and if a $100 bill was laying on the floor someone is bound to pick it up. A very similar situation occurs within crypto, if your private keys and/or wallet seed phrases ever find their way into the hands of someone they too can sweep your funds away.
Definitions
Crypto Wallet – Consists of a Public Key and Private Key
Public key – Your crypto wallet address (ex. 1HagRjRKnBZnhKtMp8t2KLotxhZQbgueUR)
Private key – Used to sign your transactions on blockchain similar to a signature on a check.
Wallet Seed Phase – A series of 24 words that if typed in a correct order can retrieve wallet private keys.
Protective Actions
- Never give your private key to anyone under ANY circumstance (Crypto can/will be stolen)
- Never take the word of anyone online who is offering to send you more crypto if you send them first.
- Wallet seed phrases should be stored offline in a secure safe
- Hardware wallets should be used for wallets holding large amounts of crypto
- Crypto exchanges should always be protected with 2-Factor Authentication (2FA)
When dealing with cryptocurrencies you will need to be the bank vault and the security guard.
Crypto Technical Consultants Services
We can help set up your device live and one and one. and together can help take the worry out of setting up and any issues and questions you could have along the way.
We will never ask you for any of your wallet information – EVER.
Have an issue connecting your wallet to software or just simply want to make sure you are performing all the steps correctly and that is where we step in. Cryptocurrencies and wallets can be complex but we want to make sure you understand everything along the way from beginners to advanced users.
Simply head over to our page and set up an appointment with our consultants at https://cryptotechnicalconsultants.com.