In today’s digital world, we are seeing extremely clever tactics being used to subvert the security systems in place that are supposed to protect us. Hacking and theft are becoming an increasing threat, so what can one do to protect themselves and their digital currencies? With the value of Stratis growing at such a rapid rate, there is high incentive for people to try to steal your Stratis Tokens, so you must use extreme caution when storing them. If you are storing a large number of $STRAT on a device, securing your tokens safely should be your primary concern. While there is no perfect system for securing your $STRAT tokens, there are some steps that you can take to help prevent any malicious attempts to steal your tokens.
- A basic rule of thumb for anyone using a computer connected device is to NEVER click on any links in which you are not 100% certain of its authenticity. You do not have to give permission to download malicious software. Any link that you click on in any e-mail or on any website can subject you to unknowingly installing a malicious add-on, program, virus or key-logger into your device. This rule of thumb is important for any device, but it’s absolutely imperative that you follow this rule when you are using any device that stores the private keys to your $STRAT (your wallet). Remember: If you are not sure, don’t click it!
- If you are storing a large number of tokens, a valuable solution to avoid theft from your devices is to have a dedicated device (or devices) that are only used for storing or staking Stratis Tokens. That would mean that you do not use the device for any purpose other than initiating transactions, verifying your balance and staking your coins. It is recommended that you factory reset or install a fresh copy of your operating system to this device before installing your wallet. In addition, it is HIGHLY recommended to refrain from installing any third-party software or browsing the internet from this device.
- Be absolutely sure that any USB devices that you plug into your device are not infected with malicious software. The best way to ensure this is to completely format your USB stick and only put trusted files in it (after formatting) to transfer to your device.
- If you are storing and/or staking your tokens on a Raspberry Pi, please be sure to follow all of the directions from the wallet guide found on the Stratis Platform Wiki. In this guide, you will find instructions on how to setup your firewall and secure the RPI properly. You can find a link to the guide here.
- You can split up your tokens across multiple wallets and devices to reduce the risk of a hacker gaining entry to all of your tokens in the same place. Just be sure that all of the devices are secure.
- Encrypt all of your wallets, and use very strong passwords to keep them secure. While this will not help if you are infected with a key-logger, it will help protect you against brute-force password cracking techniques. Use a mixture of upper-case and lower-case letters, numbers and characters. Long and difficult passwords are recommended, as they harder to crack.
- KEEP YOUR PASSWORD SAFE! Make sure you keep a copy (or copies) of your password in a very secure location. Store it as though all of your tokens depend on it because that is exactly the case. Be very prudent concerning your password because if you lose it, you will lose access to all of your coins, and if your password falls in the wrong hands, they can be stolen.
- Hardware failure is very common across all devices, so it’s imperative that you backup your wallets. Store copies of your backups in the same cautious manner as recommended with your passwords. Common practice is to keep your backups on fresh USB sticks stored in safe locations such as fire-proof safes, safety deposit boxes or with someone you trust. As always, use your best judgement. Remember: the password that was set at the time you created that specific backup will be the password you must use in the event you need to restore your wallet. Instructions on how to backup or restore your Stratis Wallet can be found here.
- One of the safest ways to store your coins is via “cold-storage.” Hardware wallets have become a popular, trusted and highly secure form of cold-storage. The Ledger Nano S and Ledger Blue are both compatible with Stratis Tokens and they require you to physically press the buttons on your device in order to confirm any outbound transactions from your wallet.
Keeping all of this in mind, please use good judgement and safe practices when dealing with any form of digital currency. It is recommended that you do not store large amounts of Stratis on exchanges, and always use 2FA (two-factor authorization) for any withdraws. While the Stratis team takes the security of the network as an utmost priority, it is up to you to be vigilant in keeping the tokens safe on your devices. Be very deliberate in securing your valuable Stratis Tokens. Thank you for being a part of the Stratis Platform![/vc_column_text][/vc_column][/vc_row]