With Plenteum and really any Cryptocurrency you are your own bank and responsible for keeping your funds safe and secure. Being heavily involved with many different Cryptocurrencies over the past year I have seen countless people lose access to their coins…. forever. In some cases the amounts were substantial to say the least.

 

Plenteum Wallet Best Practices

 

 Do not save your password, keys, or mnemonic seed unencrypted! If a bad guys gets these he gets your coins, and yes this happens way more often then you would think. Put these in a text file and encrypt it with some thing like AxeCrypt. Alternatively you can print them out and stash them somewhere safe, I use a fire proof safe. Do not store your AxeCrypt password on your computer.

 

 Always store any backups or files containing keys in multiple locations. I use a minimum of three different locations. For example: Google Drive, Dropbox, and Mediafire, a USB key would be another option. Your wallet file is encrypted so no need to encrypt it again, but make sure your text file is encrypted.

 

 Do not leave your wallet open while not using your computer. If the computer crashes or for some reason closes the wallet it could cause corruption of the wallet file. Not a huge deal if you have your keys / mnemonic seed saved but nonetheless better to avoid.

 

 Follow the projects which you have coins from. If there is a fork or important wallet update you will want to know that so you can act accordingly. You can keep an eye on their Twitter account, Discord channel, or follow their Github.

 

It is fairly simple to keep your coins safe and in your possession if you take a few simple steps, so don’t neglect to do so 🙂