Wallets, and what to avoid

Wallets, and what to avoid

Malware

If you go for a crypto wallet on your computer, take necessary precautions that would protect you from any malware or ransomware from the internet. Being exposed on the web is always a risk to a certain extent and using strong anti-malware programs can help do the job.

Coinbase

Try avoiding wallets that store your coins directly on the exchange. Exchanges tend to be hacked more often than individuals and leaving your cash on an exchange will multiply your risk of getting robbed. Not only poor safety but also the customers of this service are unable to pay bitcoin invoices.

Fake wallets

Always be careful when choosing the right wallet. Downloading an unknown wallet can end up with you losing anything sent to it. What to avoid are especially mobile wallets with no history or anything suspicious on the web. Research your wallet and read up on any necessary information regarding your new crypto-vault.

Jaxx

Many hot wallets that are constantly connected to the internet use mechanisms to generate a passphrase for you. This can be dangerous as the algorithm for the generator is stored in the wallet itself. Hackers have found ways to guess your passphrase using this information and one of the wallets that use this is Jaxx. Even though this may be a problem, the crew behind Jaxx knows this and takes it as an aspect they are willing to accept in order to maintain their ease of use.


Published: 08/03/2018
Wallets, and what to avoid
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