Before you trade! Safety First!
Last updated
Last updated
As with all Web3 applications make sure you are taking the appropriate steps to secure your accounts. Eve is not responsible for your security!
If you are just getting started or want to know a solid practice to avoid losing funds. Here are a few security tips.
Security Tips: MetaMask is a great tool, however, it's a hot wallet and has an infinite number of ways a hacker can try to compromise it. If you are storing funds of significance inside meta mask you should be aware of the risks and take measures to avoid falling victim to malware, phishing, or exposing your private keys. Please review the Meta Mask safety articles available here
We suggest all users have levels of safety when trading on any Defi protocol! Consider the following steps to make a secure trading environment. Many might find this plan excessive but adopting just a few of these steps will greatly enhance your DeFi security.
Consider making a new user account on your computer with virus protection or better a bootable hard drive. Use this account or drive ONLY for DeFi interactions and nothing else! No random downloads, no social media, no email, no games, no telegram, just verified tools you need for DeFi trading.
Consider a fresh ledger device to be used as your trading wallet and only used for trading. Keep the recovery key in a physical safe, don’t take a photo, don’t enter it in your computer write it down with a pen.
If you want super levels of security, consider a separate cold storage device used only for asset storage and never use any DeFi applications with this wallet. Again make sure the private keys are never entered into a computer! This will be your savings wallet.
When you want to make a trade or use DeFi applications move funds from the savings wallet to your trading wallet. When done send funds back to your savings device. In this way, only a small amount of your funds are ever connected to Meta Mask.
A final warning- Encryption password managers have been compromised before and can be opened with keystroke trackers, thus they are not recommended to store you never your ledger wallet recovery phrase.
Most hacks come down to a lack of knowledge and lazy attitudes. Be safe and spend $200 and a few hours of time to protect your assets. Defi does not have to be dangerous.
