![]() ![]() If Atomic Wallet, Coinbase or Metamask gets hacked, you won't fret because all of your cryptocurrencies are stored away in a safe hardware wallet. Secondly, if you're a cryptocurrency holder, it's in your best interest to take your digital assets off online exchanges and transfer them into a hardware wallet like Ledger Nano S (opens in new tab), a USB device that stores your precious digital assets. You can't edit/change your Seed Phrase / Secret Recovery Phrase," Metamask, a crypto wallet, warned on its support page. "DO NOT share this phrase with anyone! These words can be used to steal all your accounts. Most cryptocurrency apps warn first-time users that they should write down and safeguard their seed phrase because if they lose it, they won't be able to recover it. It goes without saying that you should never, ever - not even if there's a fire - give up your seed phrase or private keys. How to protect yourself from cryptocurrency scams Once you give up this sensitive information to scammers, whether it's your private keys or your seed phrase, your account will be wiped and you won't be able to recover any of your assets. Of course, airdrops don't require such personal information all the founders need is your public wallet address. A private key is an encrypted alphanumeric code - a string of letters and numbers - that permits access to your cryptocurrency holdings. Authentic airdrops will only ask for our public wallet address, which can be shared with others.įraudulent airdrops, however, will ask you to give up your private keys. When founders launch a new cryptocurrency, many people offer to give away a nice chunk of their token supply as a marketing ploy.
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