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Security Best Practices

Essential guide to protecting your cryptocurrency from theft and loss

⚠️ Critical Understanding: Cryptocurrency transactions are irreversible. Once sent, funds cannot be recovered. You are solely responsible for your wallet security. Take these practices seriously!

πŸ”‘ Seed Phrase Protection

Your 12-word seed phrase is the master key to your cryptocurrency. Anyone with this phrase has COMPLETE access to your funds.

βœ“ DO

  • Write it down on paper immediately
  • Store it in a fireproof/waterproof safe
  • Make a second copy in a separate location
  • Use metal backup plates for durability
  • Memorize it (optional, but helpful)

βœ— DON'T

  • Take photos or screenshots
  • Store it in cloud storage (Google Drive, iCloud)
  • Email it to yourself
  • Share it with anyone (even support)
  • Store it on your computer/phone

πŸ“± Device Security

Your phone is your vault. Protect it like you would protect cash.

  • Use a strong device lock: Enable fingerprint/Face ID + strong PIN
  • Keep software updated: Install iOS/Android security updates immediately
  • Install antivirus: Use reputable mobile security apps
  • Avoid public WiFi: Never access your wallet on public networks
  • Enable "Find My Device": Remote wipe if phone is lost/stolen
  • Don't jailbreak/root: Compromises device security

🎣 Phishing & Scam Protection

Scammers are everywhere. Here's how to avoid them:

Common Scams:

  • Fake support asking for your seed phrase
  • Phishing emails claiming your wallet is compromised
  • "Too good to be true" investment opportunities
  • Fake apps impersonating Elara Wallet
  • QR code swapping attacks

How to stay safe:

  • Verify the source: Only download Elara from official app stores
  • Check URLs carefully: Look for exact domain matches (elarawallet.com)
  • Never share secrets: Elara NEVER asks for seed phrases or private keys
  • Be skeptical: If an offer sounds too good to be true, it is
  • Double-check addresses: Verify recipient addresses character-by-character

πŸ’Έ Transaction Safety

Blockchain transactions are irreversible. Follow these rules EVERY time you send crypto:

  • Verify the address: Check first 5 and last 5 characters of recipient address
  • Send a test transaction: For large amounts, send a small amount first
  • Confirm the network: Sending BTC to ITC address (or vice versa) = lost funds
  • Review fees: Ensure you're not overpaying on transaction fees
  • Use QR codes carefully: Scan from trusted sources only
  • Never rush: Take your time. There's no undo button!

πŸ” PIN & Biometric Security

Your PIN is your first line of defense:

  • Choose a strong PIN: Avoid 111111, 123456, birthdays
  • Never share your PIN: Not even with family or friends
  • Enable biometrics: Faster access + hardware-backed security
  • Change PIN if compromised: Update immediately if someone sees it
  • Don't write it down: Memorize it instead

πŸ’Ύ Backup Strategy

A proper backup strategy ensures you never lose access to your funds:

  • 3-2-1 Rule: 3 copies, 2 different formats, 1 off-site
    • Copy 1: Paper in home safe
    • Copy 2: Metal plate in bank safety deposit box
    • Copy 3: Paper at trusted family member's location
  • Test your backup: Restore wallet on a test device to verify
  • Update backups: If you create new wallets, back them up too
  • Plan for inheritance: Ensure loved ones can access funds if needed

🚨 What To Do If Compromised

If you suspect your wallet is compromised, act IMMEDIATELY:

  1. Don't panic, but move fast: Time is critical
  2. Create a new wallet: Generate a new wallet with a new seed phrase
  3. Transfer all funds: Send ALL crypto to your new wallet ASAP
  4. Scan for malware: Run antivirus on all devices
  5. Change all passwords: Email, exchange accounts, etc.
  6. Never use old wallet: Abandon the compromised wallet permanently

πŸ“‹ Security Checklist

Use this checklist to ensure you're following best practices:

  • ☐ Seed phrase written down and stored in safe
  • ☐ Backup copy stored in separate location
  • ☐ Strong 6-digit PIN set (not 123456 or birthday)
  • ☐ Biometric authentication enabled (Face ID / fingerprint)
  • ☐ Device PIN/password enabled
  • ☐ Device software up to date
  • ☐ Downloaded Elara from official app store only
  • ☐ Never shared seed phrase with anyone
  • ☐ Verified all transaction addresses before sending
  • ☐ Tested wallet backup/restore process

Remember: You Are Your Own Bank

With great power comes great responsibility. Non-custodial wallets give you complete control over your fundsβ€”but also complete responsibility for their security. Follow these practices diligently!