What are the best practices for storing and safeguarding my digital assets?

3 answers

• Nov 25, 2021 · 3 years ago
  One of the best practices for storing and safeguarding your digital assets is to use a hardware wallet. Hardware wallets are physical devices that store your private keys offline, making it extremely difficult for hackers to access your funds. They provide an extra layer of security compared to software wallets or online exchanges. Make sure to purchase a hardware wallet from a reputable manufacturer and follow the instructions carefully to set it up and backup your recovery phrase.
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• Nov 25, 2021 · 3 years ago
  Another important practice is to enable two-factor authentication (2FA) on all your accounts. 2FA adds an extra layer of security by requiring a second form of verification, such as a code generated on your smartphone, in addition to your password. This helps protect your accounts even if your password is compromised. Most digital asset platforms and wallets support 2FA, so be sure to enable it wherever possible.
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• Nov 25, 2021 · 3 years ago
  At BYDFi, we highly recommend using a combination of cold storage and multi-signature wallets for storing and safeguarding your digital assets. Cold storage refers to keeping your private keys offline, away from any internet-connected devices. This can be achieved through hardware wallets or paper wallets. Multi-signature wallets, on the other hand, require multiple signatures to authorize transactions, adding an extra layer of security. By using both cold storage and multi-signature wallets, you can significantly reduce the risk of unauthorized access to your digital assets.
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