How to Safeguard Your MetaMask Wallet

Recently, I read some posts on a few Facebook groups, asking people to give their wallet addresses to get free promotions. I've my reservations, especially given the fact that I've been monitored by some extremely evil men for many years; so all the more I've to be on guard. As such, I decided to research on the topic of safeguarding one's metamask wallet.
 
 

Never Let Anyone Know Your Secret Recovery Phrase

You'll be given a secret phrase or seed phrase by MetaMask upon signing up. It's used to recover your wallet. Therefore, you should never let anyone know the phrase, even if they claim to be from MetaMask.
 
Just imagine someone has access to your ATM pin. And with the pin, they could withdraw money from your bank account if they choose to. You won't feel good about it, right? Even if you only give your ATM pin to a family member whom you could trust, does it mean that they will NEVER give your pin to someone else?

Remember your secret recovery phrase is just like your ATM pin.

Use a Hardware Wallet

Access to your wallet is encrypted by the device and that helps with data security. And most hardware wallets are protected with a PIN, thereby preventing them from unauthorised access.

How do you know which hardware wallet to purchase? Which wallet provides the best security? You might want to check out the following to find out: best harware wallets & what makes crypto hardware wallets secure.


Why? Because if you do so, you're risking potential hacking into your metamask wallet since the system is shared by other users. Moreover, a public network is a hotspot where it's easy for cybercriminals to access. So why take the chance?
 
However, if you really have to take the chance for whatever reasons, then please bear in mind that there are potential risks. You might want to check out this article.

Limit Permissions Given When Executing Smart Contracts

When using smart contracts, you need to provide permissions from your MetaMask wallet. However, you could choose to limit access by choosing the option of "Approve limited permission". Otherwise, you'll be giving unlimited access 

Beware of Fake Airdrops

Fake airdrops seem to be gaining popularity. Therefore, you've to be very careful when dealing with airdrops.
 

Keep Your MetaMask Wallet Locked After Use

According to a website, when your metamask wallet is unlocked, it's possible for other websites whose tabs are left open to view your address. So it's also a good practice to lock your wallet before you browse other websites. Likewise, it's a good practice to close other tabs before you log in to your metamask account
 
According to the same website, when your wallet is unlocked, it's possible for a malicious person to find out the details of your transaction using your address. Armed with this information, they could send you a fake pop-up asking you to redo the transaction, by which time the receiving address would have changed to one owned by them.

Cheers,

Annie Chan

(P/s: My next blog post will be published on 3 Jul 2022. Please subscribe to my YouTube channel here: Annie's Music Everywhere. Thanks!:)

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