PSA — Why you should use Wallet Guard if you use cryptocurrency | Posted by Messin’ with Crypto’s | Coins | January 2024
Hello everyone, During the bull market when it seemed like you could make money blindly buying almost any token, I felt this would be a good opportunity to learn more about the free app Wallet Guard. After using it for me for the past month, I now consider it a must. This is especially true for those new to the crypto space who may feel a little anxious with all the authorizations, exchanges, sending, and receiving required by their wallets.
Please shout out loud before we start. DP Caribbean If this hadn’t been done by Carib DAO, who used Wallet Guard as one of his Zealy quests, you would never have heard of it.
As mentioned earlier, Wallet Guard is a free app (or technically a browser extension) that syncs with your wallet to help “protect” it from malicious sites, authorizations, or websites. There are some other cool features (I’ll get to them later), but let’s look at the ones I think are most important first. Interactions are easy to interpret.
Once you install Wallet Guard, you’ll see it working right away whenever you try to perform any action on your cryptocurrency wallet. For example, let’s take a simple MetaMask swap. You won’t see any explanation of what you’re swapping, let alone whether or not you’re actually doing a swap.
On the other hand, with Wallet Guard, it explains in simple terms what you’re actually checking – if it’s actually a swap, and what you’re actually exchanging.
At the bottom of the graphic, Wallet Guard not only acts as a simplified translator of the action you’re trying to verify, but also has the ability to verify that what you’re trying to sign is actually what you’re signing. . In addition to just interpreting swaps, Wallet Guard also does it for you. any This is the action you want to check. This means that when your wallet prompts you to perform an action, Wallet Guard will precede your wallet’s message for that action, essentially doubling your chances of making a serious mistake.
As mentioned earlier, in addition to its transaction translation role, there are numerous security features that Wallet Guard has to offer. This includes but is not limited to:
Wallet Scanner:
As you can see in the graphic above, Wallet Guard can scan your wallet for high-risk authorizations, analyze transaction history, check for exposure to hacks and exploits, and whether the wallet is up to date or in use. I was exposed to a pot of honey.
Approval checker/revoker: What’s especially notable about the wallet scanner is the ‘high risk acceptance’ check performed by Wallet Guard. This means it checks for open/active permissions and provides the ability to close them if desired. I’ve written before about the dangers of leaving transfer permissions open and how to check/close them through platforms like De.Fi and Revoke.cash, but Wallet Guard basically allows you to do this within the extension itself. can. Your comments are one step safer as we eliminate the possibility of clicking on fake phishing cancel links. (Note that Revoke also has its own browser extension that works quite well.)
Anti-phishing tools: When it comes to phishing links, Wallet Guard also lists all verified protocols and official links so you can avoid getting connected to a malicious link.
If your favorite protocol is not listed, the wallet will ask you if you want to request it, and in addition to verified links, Wallet Guard helps you identify whether a site is suspicious or not. Or whether it was recently created – common red flags for phishing sites:
Additional features
In addition to the main items listed above, Wallet Guard also helps detect other suspicious activity by:
✓ Identify wallet breaches — when an attacker gains full, unauthorized access to your wallet
✓ Identify malicious extensions trying to invade your browser
✓ Run real-time simulations to proactively review trade requests
Other considerations
DDoS attacks in 2023 — Last March, Wallet Guard dealt with a DDoS attack that spammed it with 600 million requests per minute. The attack reportedly lasted several hours and disrupted some services but left no user data compromised.
security – The Wallet Guard documentation states that unless you allow wallet scanning (see the ‘Wallet Scanner’ section), the Wallet Guard extension is technically not connected to your wallet, but performing a wallet scan will not expose your seed phrase and private key.
As I said before, it’s free. — From what I gather, Wallet Guard is a private company funded by angel investors and a few VCs, but there are currently no subscription fees, taxes, or advertising of any kind to use their service. The document says there may be costly ‘premium features’ in the future, but for now it’s free.
prize — I’m running a giveaway to win an AKCB NFT through January 24th for people who use the current app to run the security check, and if you use my referral link you can support me by giving me an extra entry as well. !:
No matter how much experience you have with cryptocurrency, it may seem like a no-brainer that using Wallet Guard (or something similar) to prevent fraud is a good idea. Have you tried something similar? Maybe Revoke Cash’s latest app? If so, I’d love to hear about it in the comments below.
And no matter how good Wallet Guard is, please Don’t rely solely on apps to keep you secure — You shouldn’t rely on one single app to keep you secure. Whether it’s avoiding suspicious links, people claiming to double your $BTC in minutes, etc., it’s important to have good security measures and opsec in place.
And as always, thank you for taking the time to read this and please follow me on Twitter (https://twitter.com/CryptosWith) To get all the latest updates Are you also looking for a gift for a friend who loves or hates cryptocurrency? Give them a REKT journal to encourage them!
Disclaimer: Finally, again, this is not financial advice and is for educational and entertainment purposes only. As always, do your own research to find which investments are best for you. We support everyone!