Cryptocurrency wallets store users’ public and private keys while providing an easy-to-use interface to manage crypto balances.
Wallets didn't store any keys, it's just a software to connect to blockchain.
Here are the things to look out for when thinking of investing in a new or unknown crypto:
– Developers
– Whitepaper
– No liquidity locked
– No external audit
Even you've make sure the project meets all the requirements, there's a chance the project will scam you.
4. Verify fake apps and fake crypto exchanges
These fake apps can be used to steal money, cryptocurrencies or seed phrases and passwords. The best way to avoid these scams are:
Never search for crypto apps directly from an app store. Always find the direct download link or redirect link to the app store from the company’s official website or whitepaper.
Check for the number of app downloads and number of reviews – if these are low this is a red flag
Check the developer of the app, this should be verifiable and come from the official company. Check for spelling mistakes and also other apps made by the developer.
What you explain above isn't verify, but you're just trying to make sure didn't download fake apps.
The only way to verify is the project is open source and you can verify the code, like verify Electrum's GPG signature.
Never click links on emails you are unsure of where they originate from.
Set up Two Factor Authentication (2FA), this means hackers would need your phone to hack you even if they have all your other account details.
Don’t click popups or links that come up on the internet or social media
Be cautious of any messages you receive from people who say they can ‘make you money fast’. These have become popular across social media and utilize fake accounts to try and get your money.
Make sure to install the 2FA on a different device, if you install on the same device and there's malware inside there, they can hack you.