1. Never show anyone your source words (private key).
2. Don’t be fooled by actions like: “Send me Ada and I’ll send you x10”
3. Don’t brag about how many cryptocurrencies you have
Although cryptocurrencies including Cardano ensure anonymity in order to purchase cryptocurrencies through Cryptocurrency Exchanges or Cryptocurrency Exchange Platforms, we must provide our personal data under the banner of preventing money laundering. Usually, a scan of the ID card on both sides is required and a document confirming the residence, for example: Electricity bill.
Many people are understandably reluctant to send these types of documents, especially ID cards. This may lead to the risk of extortion of credit if the document is stolen. However, we can drastically reduce the risk of using our evidence in this type of crime by placing a Watermark on the scan of our evidence.
To do this, follow 3 simple steps:
1. Download the application and install GIMP: https://www.gimp.org/downloads/
2. Run and open the proof scan file
3. Follow the steps in the video below:
Bik alerts are a cheap and convenient offer of notifications for each credit inquiry for a given ID card. The operation is simple. With every loan inquiry, you get an SMS with information. If something is suspicious you can notify the police and the bank. The price is PLN 1 per month of protection. This offer is only available in Poland but you should learn if there are any available offers like this one in your country.
Storage of source words
Recall that the source words are a set of words in English from 12 to 17 and by using them we will restore our wallet in the event of a system failure or change. There is no perfect place to store your source words. However, we can propose a few rules:
1. Don’t keep them digital (avoid putting them in the cloud or on your hard drive).
2. Make at most one copy.
3. Consider printing the words and storing the paper version in a safe.
4. Hide them where you would hide the gold or a bundle of banktnotes.