Security 101: Hardware Wallets & Revoke.cash

Executive Summary: Crypto is "Self-Custody." That means YOU are the bank. If you get hacked, there is no 1-800 number to call. This guide teaches the "Swiss Cheese Model" of security: Hardware Wallets for storage, Hot Wallets for trading, and Revoke.cash for hygiene.

1. Hot vs. Cold Wallets

• Hot Wallet (MetaMask, Phantom): Connected to the internet. Convenient for trading. Risk: If your computer has malware, your keys can be stolen.
  • Rule: Keep only what you can afford to lose here (like the cash in your physical wallet).
• Cold Wallet (Ledger, Trezor): Offline. The private keys never leave the USB stick. You press a physical button to sign transactions. Safety: Even if your computer has a virus, the hacker can't sign without the physical device.
  • Rule: Keep your life savings here (like your Bank Vault).

2. The Silent Killer: Unlimited Approvals

When you trade on Uniswap for the first time, it asks: "Approve USDT?" Most people click "Max" or "Infinite." This gives the Uniswap Smart Contract permission to take all your USDT, forever. If Uniswap gets hacked (unlikely, but possible), the hacker can drain your USDT even if your Ledger is in a safe.

The Fix:

1. Approve Only What You Need: If swapping $100, approve $100. Not "Unlimited."
2. Revoke.cash: This is a tool (integrated into TradingMaster) that scans your wallet for old approvals. Did you approve a shady NFT project in 2022? Revoke it. It closes the backdoor.

3. The "Swiss Cheese" Defense

No single layer is perfect. Use multiple layers.

1. Hardware: Use a Ledger/Trezor.
2. Segregation: Don't put your NFT punks and your DeFi savings in the same wallet.
3. VPN: Don't trade on Starbucks Wi-Fi without a VPN.
4. 2FA: Secure your Email and Exchange accounts with a YubiKey or Authenticator App. SMS 2FA is not safe (SIM Swapping).

4. Phishing: The Human Flaw

99% of "Hacks" are actually "Phishing." You receive an email: "TradingMaster Airdrop! Claim Now!" You click the link. It looks exactly like our site. You connect your wallet. It asks for a signature. You sign. BAM. Your wallet is empty. The Signature was a "Permit" allowing them to take your coins.

Defense:

• Bookmark your favorite sites. Never click Google Ads.
• Read what you sign. If the transaction says "Set Approval for All," REJECT IT.

Conclusion

Paranoia is a virtue in crypto. Assume everything is a scam until proven otherwise. Take 1 hour this weekend to set up a Ledger and run a Revoke.cash scan. Your future self will thank you.