What is the best way to keep your Ethereum wallet safe? How can it be used safely?

Significant advancements have been taking place in the Blockchain segment every day. One such advancement is the Ethereum wallet which helps users interact and manage their accounts on the Ethereum network. These wallets give you the opportunity to add as many Ethereum addresses as you want and trade seamlessly. These are smart contract-based applications that enable interactions with other decentralized applications.

Ethereum wallets can be accessed via private keys or passwords that help users perform funds within the wallet. In other words, private keys are the wallet creators, and anyone who knows it can access the funds.

This would lead to the loss of personal information and digital assets. According to reports,A security bug led to loss of 30 Million funds.However, reputed Ethereum wallet development professionals have recommended tips that you can integrate to keep your Ethereum wallet safe and have been listed below:

#Tip1:Use Unique Passwords for Everything

No matter how strong the password is, it becomes unsafe when accessed during a data breach. Make sure that the passwords are frequently changed. Using unique passwords minimizes the chances of hacks and doesn’t give hackers the chance to access the accounts when one of the passwords is compromised.

#Tip 2:Integrate Two Factor Authentication

Two-factor authentication is an additional security measure that prohibits access to the account. The second factor is a random six-digit code, also known as a time-based one-time password(TOTP). One can access it via Google Authenticator. It has a “Something you Own” factor because the seed is generated by the device.

#Tip 3:Uninstall Browser Extensions

Chrome extensions or add-ons in Firefox can improve the working of the browser and enhance the user’s experience. Browser extensions often ask permission for “Read and Change Site Data” and might tamper with your data. This includes malicious code, so uninstalling them would keep your wallet safe.

In Conclusion, Implement these tips to keep your Ethereum wallets safe and make sure that these security measures are integrated by Ethereum wallet development professionals while developing the wallet.