Essential guide to protecting your cryptocurrency from theft and loss
β οΈ Critical Understanding: Cryptocurrency transactions are irreversible. Once sent, funds cannot be recovered. You are solely responsible for your wallet security. Take these practices seriously!
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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.
β 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)
β 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
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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
Change PIN if compromised: Update immediately if someone sees it
Don't write it down: Memorize it instead
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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
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What To Do If Compromised
If you suspect your wallet is compromised, act IMMEDIATELY:
Don't panic, but move fast: Time is critical
Create a new wallet: Generate a new wallet with a new seed phrase
Transfer all funds: Send ALL crypto to your new wallet ASAP
Scan for malware: Run antivirus on all devices
Change all passwords: Email, exchange accounts, etc.
Never use old wallet: Abandon the compromised wallet permanently
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Security Checklist
Use this checklist to ensure you're following best practices:
β Seed phrase written down and stored in safe
β Backup copy stored in separate location
β Strong 6-digit PIN set (not 123456 or birthday)
β Biometric authentication enabled (Face ID / fingerprint)
β Device PIN/password enabled
β Device software up to date
β Downloaded Elara from official app store only
β Never shared seed phrase with anyone
β Verified all transaction addresses before sending
β 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 fundsβbut also complete responsibility for their security. Follow these practices diligently!