How to store your data safely

A memory buffer, also known as mnemonic phrase or recovery phrase is a set of 12 or 24 words that are generated when you first set up your cryptocurrency wallet. This set of words is mathematically linked to your private key ( private key ) and can recover all funds accessed on the wallet software that supports it with this power. Protecting your memory buffers in this way is therefore one of the most important habits every crypto user should adopt

Why is memory so important?

Unlike bank passwords that can be reset by contacting customer service, if a password is lost it often means your funds are gone permanently because no federal agency will ever recover them from you. Meanwhile, if someone gets hold of your password they can transfer your money out instantly without having to reverse the transaction.

Good practice in storage

1. Paper (or metal plates to resist fire and water) instead of stored in digital form

1. Don't store them in the form of images, screenshots, apps, e-mail forms or cloud files because all these can be accessed if your device or account is compromised

1. Keep copies of real items in a safe place, such as locked drawers or safes. You should have backup copies stored elsewhere in case they are stolen or caught on fire

1. For many holders may consider splitting the memory to keep it in two safe places, although this method will increase complexity and risk of losing some.

1. Don't type the word "help" in any website, app or form unless you are recovering your wallet on a trusted official software only

Signals to be taken into account

Legitimate wallet exchanges and service providers will not ask for your information via phone, chat, email or social media at all. Any message claiming that your wallet needs to "verify identity", "security check" or "receive a prize" is fraudulent if you are unsure. Close the app or website immediately and verify data through official channels only