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How to ensure maximum security for your MAIT tokens?

The world of cryptocurrencies is still in its infancy and somewhat resembles the Wild West. The security of digital asset storage should therefore always be a top priority. In this article, we will focus not only on how to store your cryptocurrencies securely.

Options for secure cryptocurrency storage

There are many ways to securely hold your cryptocurrencies. If you already own MɅIT tokens, you have successfully completed the first step—you have your tokens in your wallet on Mait.me. The next steps include setting up a software wallet or purchasing a hardware wallet and transferring your tokens to it. Soon, you will be able to transfer tokens directly from your Mait.me account

Advantages - 24/7 availability in your personal Mait.me account. Ideal for those who don't want to deal with the complexities of cryptocurrencies. Exclusive benefits for using them in Mait.me and other Maitreya applications.
Disadvantages - Vulnerability to hacker attacks, security depends largely on the MAITREJA Association and their team. No access to the seed (see section below).

You can create a software wallet, such as MetaMask, online for free. This option is safer than holding cryptocurrencies on centralized exchanges, which can face problems – such as FTX, the second-largest exchange that went bankrupt, or Bybit, which recently lost $1.6 billion due to an attack by the North Korean hacker group Lazarus.

Advantages: easy access via the internet, allowing flexible use of cryptocurrencies for everyday transactions. Ideal for holding smaller amounts of cryptocurrencies.
Disadvantages: vulnerability to hacker attacks because it is connected to the internet.

Another option is a hardware wallet, such as those from the renowned Czech company Trezor. These offer the highest level of security because, while software wallets are at risk of loss due to phishing (just one wrong click) or other user errors, an attacker would need physical access to the device to attack a hardware wallet.

Advantages - currently the most secure solution for long-term storage. Offline mode protects cryptocurrencies from hacker attacks.
Disadvantages - less convenient for everyday transactions, as a physical connection to a computer is required.

The mysterious 12-24 words: SEED

A seed phrase, also known as a wallet recovery phrase, is a unique series of words that serves as a unique key to your cryptocurrency wallet. It usually consists of 12 to 24 words that are randomly generated during the initial setup of the wallet. The seed is essential for recovering your cryptocurrencies and accessing them in case of loss or damage to your physical device or change of computer for a software wallet. It is essential to keep it in a safe place and never, ever, ever, ever, ever share it with anyone.

Trezor, the pride of the Czech nation

SatoshiLabs, the manufacturer of Trezor, is a world-renowned cryptocurrency company from our picturesque region that offers high-quality and secure hardware wallets for storing cryptocurrencies. Their products, such as the Trezor Model T, provide offline storage for cryptocurrencies, ensuring maximum protection against hacker attacks and malware. Trezor is known for its transparency thanks to its open source code and robust security features, such as PIN protection and other measures that protect your digital assets.

What should you not underestimate?

Strong password – use unique and strong passwords, not the same one for everything!
Two-factor authentication – activate 2FA wherever possible, especially for email!
Software updates – keep all applications and wallets up to date!
Backups – store your seed in a safe place, out of reach of others!

Secure storage of cryptocurrencies is key to protecting your digital assets and MAIT tokens. A combination of different types of wallets not only ensures convenience for everyday transactions, but also security for long-term holding.

We will soon publish detailed instructions on how to set up a MetaMask wallet and where to buy a hardware wallet to make securing your cryptocurrencies as easy as possible!