Maybe it's one of all our nightmares: What if the coins in my decentralized wallet are stolen while we sleep at night? What if I get hacked? We can easily say that wallet security is one of the most important issues in the crypto world. Many of us do not have enough knowledge about wallets. In this article, we will discuss security measures that we can apply with simple methods.
Don't Connect Your Wallet to a Site You Don't Trust!
One of the simplest methods we can do as users is not to connect our wallet to websites that we have not researched, do not know who is behind it, or are not sure of the authenticity of the site. During the day, if we are a crypto lover, we come across dozens of different decentralized applications and sometimes we may want to make transactions on these sites. Before lining up your wallet on this issue, for example, go to the project's social media accounts and see if people are using that platform. Is there anyone having problems? etc. We can control with criteria.
Let's say that there are no problems on the platform to which we will connect the wallet and people can make transactions peacefully. At this point, it is very important to access the platform's site from reliable sources. Because fake (unreal) sites are opened for almost all popular platforms. In a careless moment, we have the chance to have our balances stolen by connecting our wallets to such fake sites. So, for example, if we want to access the PancakeSwap site, it will protect us by clicking on links from sources we are sure are reliable, such as Coinmarketcap. For PancakeSwap, we can use the website link on the $Cake token's Coinmarketcap page.
The Importance of Revoke Process!
Revoke is the process of removing the authorizations on the sites we connect to with our wallet. When connecting our wallet to a decentralized application, we automatically grant many permissions, whether we want it or not. If the platform we connect to attempts fraud or is attacked by hackers in the future, we may face losing our balances.
At this point, after completing the transactions on the platforms to which we have connected our wallet, we can remove the relationship of our wallet with the platform by performing the Revoke transaction. To do this, you can remove your wallet connections through Explorers such as BscScan and EtherScan or through the Revoke.cash platform. You can do your own research for practical information on these processes.
Alternatively, you can disconnect your connections from the platforms you are connected to by selecting the “Connected Sites” option from the “three dots” menu in the upper right corner on Metamask.
Transaction Expense Limit Additionally, with the EIP-4361 security update coming to Ethereum EVM networks, the "Transaction Expenditure Limit" option now appears before making a transaction on a platform. When this option appears, we authorize the platform for the amount we write in the space there. For example, let's say we will make a transaction of 10 Bnb, and if we write 10 Bnb in the transaction spending limit, the platform cannot access other balances in our wallet without our permission, more than 10 Bnb.
Separate Wallets According to Their Purposes! It appears as a method that should be used to separate our wallets according to their purposes. We can have two different wallets: the platform trial wallet and the main wallet. With the trial wallet, we can learn new things by browsing the platforms as we wish or perform transactions such as Testnet. In our main wallet, we can store our valuable NFTs or coins that are not on Central Exchanges.
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