🛡Safety tips (recap week 18)

Koalas,

If you are present in our awesome telegram channel, you may have seen the daily safety tips (If not, you’re welcome: https://t.me/koaladefichat), you will find in this article a summary for the week 18.

🛡How to Keep Your Funds SAFE — MetaMask Guide

https://www.bsc.news/post/how-to-keep-your-funds-safe-metamask-guide

If you’re keeping everything in the same wallet and/or use the same wallet for every project then I have to point out to you that you might need to change your habits.

🛡Maintain your privacy, protect yourself and DYOR

https://academy.binance.com/en/articles/general-security-principles https://academy.binance.com/en/glossary/do-your-own-research

Cryptocurrencies have brought lots of exciting possibilities, but they are also full of risks and dangers for the inexperienced.

🛡How to Secure Your Cryptocurrency

https://academy.binance.com/en/articles/how-to-secure-your-cryptocurrency

Secure your funds properly, and they’ll be harder to reach than even the most well-guarded of bank vaults. Fail to do so, and you run the risk of someone remotely emptying your digital wallet.

🛡Avoid scam on mobile

https://academy.binance.com/en/articles/common-scams-on-mobile-devices

The most well-known example of a fake cryptocurrency exchange app is probably the one of Poloniex. Prior to the launch of their official mobile trading app in July 2018, Google Play was already listing several fake Poloniex exchange apps, which were intentionally designed to be functional.

🛡Secure your investments with a hardware wallet

https://docs.binance.org/smart-chain/wallet/extension/ledger.html

A hardware wallet is a device that lets you safely store your bitcoins, ethereum, or altcoins. Connect a hardware wallet or bitcoin locker to your computer’s USB port and install a bitcoin wallet. After that, you can safely store your crypto coins and ensure that all your crypto currency transactions proceed safely.

🛡How to interact With Smart Contracts on BSCSCAN (Binance Smart Chain)

If DAPP website becomes unavailable due to high traffic, site shutdown, rug, or what ever you will always have a backup plan for withdrawaling your funds or interacting with the contract without the website.

Related article: Emergency Withdraw

🛡Double-check your withdrawal crypto, amount and address

  • Carefully make sure and check that you are sending the right coin to the right address. By example, non-BTC funds sent to a BTC address will not be able to be retrieved and can be permanently lost.
  • Always send a small amount first. Then verify that the transaction was properly received by the recipient address before proceeding to send larger amounts.

Did you read our post “As a Walt Disney, this story starts by a drama” ? One of our Koala did a bad copy-paste into his Binance app and sent by error 5,969.48 CHZ token to our LYPTUS token adresse on the ETH chain. Near $4000 dollars in CHZ at the time of the transaction! A pure drama for this guy! Luckily everything ended well but this is not always the case.

See you next time!

The KST (Koala Security Team)

Safety first on Koala DeFi

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