By Refund Agency.
Cryptocurrency has surged in popularity in recent years — and with that growth comes a new wave of threats. As the digital asset space evolves to include NFTs, decentralized finance, and smart contracts, it also attracts bad actors looking to exploit unsuspecting users. One of the most vulnerable moments in your crypto journey is setting up your wallet — and that’s where proper security habits are critical.
In this blog, Refund Agency outlines 5 key security tips to help you protect your digital assets from the very beginning.
- Create a Strong, Unique Wallet Password
When setting up a new crypto wallet, one of the first security steps is often overlooked: your password. Choose a strong, unique password that doesn’t resemble any used on your email, banking, or social media accounts.
A secure wallet password should:
- Be at least 12–16 characters
- Include a mix of uppercase, lowercase, numbers, and symbols
- Avoid personal information like birthdays, names, or common phrases
Consider using a password generator and a secure password manager to safely store your credentials. Avoid reusing passwords across platforms — this is one of the most common security mistakes.
- Enable Two-Factor Authentication (2FA)
Most reputable crypto wallets and platforms now offer two-factor authentication as an added layer of security. Once your wallet is set up, enabling 2FA means that even if someone knows your password, they’ll still need a code from your mobile device to access your account.
Apps like Google Authenticator, Authy, or hardware-based 2FA devices are all strong options. Avoid using SMS-based 2FA when possible, as SIM-swap attacks can compromise your phone number.
- Use a Secure Device (And Keep It Updated)
The device you use to manage your crypto wallet plays a big role in your overall security. Whether you’re using a desktop, laptop, or smartphone:
- Keep your operating system and apps updated
- Install anti-malware and antivirus software
- Avoid installing third-party tools or unknown browser extensions
- Use VPNs on public networks to prevent data interception
Consider using a dedicated device solely for crypto activity. The fewer apps and distractions, the lower the risk of exposure to malicious software.
- Manage App Permissions and Browser Access
After setting up your wallet, many users forget to check the permissions granted to apps, browser extensions, or connected sites. Some wallet integrations can keep access open longer than needed — which opens doors to silent theft if your system is compromised.
Tips:
- Regularly review and revoke access from apps and dApps
- Avoid giving «unlimited spending» permissions when interacting with smart contracts
- Be cautious when authorizing wallet connections on Web3 sites
Use wallet tools (like MetaMask’s “Connected Sites” settings) to manage which websites have access to your wallet in real time.
- Stay Alert to Phishing and Fake Wallet Apps
One of the most common ways wallets are compromised is through phishing attacks or fake wallet applications.
Scammers often send messages or links pretending to be customer support, crypto platforms, or even your wallet provider. These may lead to:
- Fake login pages that steal your credentials
- Malicious browser pop-ups that trigger downloads
- Fraudulent wallet apps listed on unofficial app stores
To stay safe:
- Never click unknown links or download files from strangers
- Only install wallet apps from official sources (App Store, Google Play, verified websites)
- Bookmark your wallet login page instead of searching it each time
Take Crypto Security Seriously From Day One
Setting up your wallet is just the beginning — how you secure it determines the safety of everything you store inside. Take time to build good habits early, and you’ll reduce the chances of falling victim to cyberattacks or theft.
If you believe your wallet has been compromised, or if you’ve lost funds in a crypto scam, Refund Agency is here to help. Our team offers free consultations and can walk you through your recovery options.