We’ve seen lots of exploits & hacks recently It’s time to get a hardware wallet. Here’s everything you need to know to get it set up (Small thread)
Broadly, there are 2 types of wallets: 1. Hot Wallet - Metamask 2. Cold Wallet - Trezor & Ledger Hot wallets like Metamask are connected to the internet They’re easy to use - You can access them from your phone or laptop. But, there’s a big problem. 2/
The problem with Hot Wallets Because hot wallets are always connected to the internet, they are vulnerable. It’s easy for scammers to exploit them. 1 wrong click & you could lose everything You NEED a cold wallet 3/
Cold Wallets Cold wallets typically resemble a USB stick. They’re isolated and make it MUCH harder to steal your funds. They’re not as convenient & cost $80-200. But they’re essential if you want to survive. 4/
Popular Cold Wallets The most popular cold wallets are made by Ledger & Trezor Here are some cold wallets varying in price: • Trezor Model T - $250 • Ledger Nano X - $150 • Trezor One - $85 • Ledger Nano S - $80 You can buy one on Amazon or directly with Trezor/Ledger 5/
Links to Buy: https://shop.ledger.com/ https://trezor.io/#comparison Or just search on Amazon 6/
Verify Authenticity Before you get started, make sure it isn’t a counterfeit Different companies have different ways of showcasing authenticity. Look at the authenticity checklist for your device. https://blog.trezor.io/psa-non-genuine-trezor-devices-979b64e359a7 https://support.ledger.com/hc/en-us/articles/4404389367057-Check-if-the-device-is-genuine-?support=true 7/
Setting it up Hardware wallets have step by step guides to help you set up your device based on the model https://www.youtube.com/watch?v=bqmyNmjMmME&t=18s https://wiki.trezor.io/Setting_up_Trezor_One It doesn’t take long & it’lll keep you safe. 8/
It's a necessary investment & it's easy There are a LOT of resources to help you set up your hardware wallet. It doesn’t take long & it’ll keep you safe. With so many exploits going on, it’s an essential investment. Nothing sucks more than losing money due to negligence 9/
Other Safety Practices: • Don’t reuse passwords • Enable 2FA • Uninstall extensions • Revoke approvals https://revoke.cash/ Here's a good thread on safety practices by @bobbyong https://twitter.com/bobbyong/status/1403881080902471680 10/
That's it, thanks for reading, I hope this helps. Don't be lazy go get one rn. Give this a RT so it can reach more people! 11/