🛠️Security Best Practice
Best Practices to stay safe!
Web3 wallets are essential tools for interacting with decentralized applications (dApps) and managing cryptocurrencies on blockchain platforms like Arbitrum & Binance Smart Chain, and others. Ensuring the security of these wallets is crucial to protect your digital assets. Here are some security best practices for Web3 wallets:
Choose a Reliable Wallet: Always use well-known and reputable Web3 wallet providers. Research and read reviews before selecting a wallet. We recommend Metamask but other reputable wallets such as Trust and Rabby also work.
Backup Your Wallet: Create backups (often called seed phrases or recovery phrases) of your wallet and store them securely offline. This allows you to recover your wallet if you lose access to it or it gets compromised.
Never Share Your Private Keys or Seed Phrases: Your private keys and seed phrases are the keys to your wallet. Never share them with anyone, and avoid entering them into suspicious websites or applications.
Verify Website URLs:
Ensure you are accessing the official website/app of Velvet Capital utalizing the direct links of Prime or Arbitrum Funds in this guide.
Use Secure Networks:
Avoid accessing your Web3 wallet on public Wi-Fi networks (McDonalds/Chaiwala 🤣) or other insecure connections. Use a trusted and secure network when interacting with your wallet.
Double-Check Transaction Details:
Before confirming any transactions, always double-check the recipient address and the amount to ensure accuracy. Mistaken transactions can lead to irreversible loss of funds.
Use a Separate Wallet for Different Purposes:
Consider using separate wallets/addresses for different purposes (e.g., one for Immutable Vision Funds and another for other dapps). This can minimize the risk associated with one compromised wallet affecting all your assets.
Limit Exposure: Only connect your Web3 wallet when necessary. Disconnect it from dApps and websites when not in use to reduce the risk of unauthorized access.
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