It is not so easy to make a lot of cryptocoins in modern conditions and to save them is even more difficult. As always, the best anti-hacking tool is caution, which involves the use of trusted sites, security software, and reliable crypto walets.
There are “hot” (or “fast”), which allow you to send money instantly from anywhere – would have access to the Internet. There are “cold” (“slow”), which are not simply accessible, and they are more reliable.
The best example of a “cold” wallet is a hardware wallet, which is a physical device the size of a USB flash drive and there is no data other than cryptocurrency information.
As practice shows, mobile crypto wallets hack most often. Developers equip them with functions of varying degrees of convenience, but the level of cryptographic protection of most wallets, including those from Google Play, is very low.
This is explained by the small number of professionals in the cryptoindustry who can create a well-protected application, and the capabilities of the applications themselves make the top fast and easy, and the proper level of crypto wallet protection will make them heavier, slow, less user-friendly. According to various sources, 70–90% of mobile crypto wallets have significant vulnerabilities. A moderate degree of vulnerability – more than 90%.
Online wallets offer more opportunities for cryptographic protection, but not all owners of the relevant resources use these capabilities, so the degree of actual security varies from resource to resource.
“Paper” crypto wallets differ from other online wallets in that the user does not need to register the address and private key generated on the site randomly. The address and the key are presented both in alphanumeric form and in the form of a QR code. Users are assured that the private key is kept only by the owner, but in practice there is no evidence of this. Not to mention that scanning a QR code with a tablet or smartphone also creates certain vulnerabilities, since the key is on devices without protection.
Desktop crypto wallets are divided into two types of “thick” and “thin.” The first one involves downloading the program of the wallet and blockchain to a computer, the second – only the programs of the wallet and the transaction information is stored on another server, where the program accesses.
“Thick” are considered more reliable, because the other server is an invisible phenomenon, it is not known as protected and it is not known by whom it is serviced. On the other hand, server owners have the opportunity to protect them well – better than ordinary users their computers. Therefore, it is not the servers that are hacked more often, but separate accounts and then the user’s and the developer’s fault may be the same.
For example, the developer left a vulnerability (small, otherwise hackers would hack everyone, not single users), but the hacker was granted access by the user himself. Whether he downloaded the software with viruses or surfing the Internet without antivirus and firewall, or turned off any protection to “work faster”, or in another way thoughtlessly reacted to the issue of security.
If you do this, the level of security of the desktop wallets will be one. Completely different level will be if the user takes precautions.
However, a number of “thin” wallets, as well as some online resources, offer protection from the frivolity of users in the form of HD wallet technology. It involves the creation of a seed phrase based on 12 random words that wallets “see” as a code. Based on this code, you can create any number of addresses with your keys without the risk of losing data. If the keys are forgotten, this phrase is enough for the user to access their data.
The security leaders are hardware cryptographs. However, relatively few people use them, not least because they cost about $ 100,200, when all the others are free.
The list of the most popular wallets is often modified, sometimes depending on the country, but on the whole quite confidently, especially in the CIS, it keeps Cryptonator, HolyTransaction, Coinomi, Exodus, Electrum, Jaxx, Blockchain, Bitcoin Core, BitAdress and hardware from Ledger.