Wallet Security Best Practices
Essential security practices to protect your stablecoin holdings and business funds.
Critical Security Notice
Your wallet security is your responsibility. Moneta is non-custodial, meaning we never have access to your funds. If you lose your private keys or seed phrase, your funds cannot be recovered.
1. Secure Your Seed Phrase
Your seed phrase (recovery phrase) is the master key to your wallet. Anyone with access to it can control all your funds.
Do's
- Write it down on paper and store in a secure location
- Consider using a metal seed phrase backup (fire/water resistant)
- Store copies in multiple secure locations
- Consider a bank safety deposit box for large holdings
Don'ts
- Never store your seed phrase digitally (photos, cloud storage, notes apps)
- Never share your seed phrase with anyone - Moneta will NEVER ask for it
- Never enter your seed phrase on any website
- Never store it in email or messaging apps
2. Use Hardware Wallets for Large Amounts
For business funds or significant holdings, hardware wallets provide the highest level of security by keeping your private keys offline.
Recommended hardware wallets:
- Ledger Nano X/S Plus - Industry standard, supports most stablecoins
- Trezor Model T/One - Open-source firmware, excellent security
- GridPlus Lattice1 - Enterprise-grade, large touchscreen
3. Enable Multi-Signature for Business
Multi-signature (multisig) wallets require multiple approvals for transactions, adding an extra layer of security for business funds.
Common Multisig Setups
- 2-of-3: Any 2 of 3 keyholders can approve (recommended for small teams)
- 3-of-5: Any 3 of 5 keyholders can approve (recommended for larger organizations)
- 2-of-2: Both keyholders must approve (maximum security, less convenient)
4. Verify Transaction Details
Always double-check recipient addresses and amounts before confirming any transaction. Blockchain transactions are irreversible.
- Verify the first and last 6 characters of addresses
- Use address book features to save verified addresses
- Send a small test transaction first for large transfers
- Be wary of address poisoning attacks (fake transactions in your history)
5. Protect Against Phishing
Phishing attacks are the most common way funds are stolen. Stay vigilant:
- Bookmark official websites and only access them via bookmarks
- Never click links in emails or messages claiming to be from wallet providers
- Verify URLs carefully - attackers use similar-looking domains
- Be suspicious of "urgent" messages requiring immediate action
6. Regular Security Audits
For businesses, conduct regular security reviews:
- Review who has access to company wallets quarterly
- Update wallet software and firmware regularly
- Test recovery procedures annually
- Document and update security policies