Today the world of cryptocurrency wallets is full of diversity. We have already considered different types of wallets, for example, we compared full node wallets with light ones and found out why using a light wallet is much more convenient.
But regardless of the wallet type, you probably want your wallet to be SECURE.
Wallet security is perhaps its main quality for a user, so this topic should be openly discussed with no facts hidden. We invite you to talk about the Guarda wallet in terms of its security for you.
The first component of a secure and reliable wallet is the safety of users’ private keys. It is of great importance that private keys are properly stored by users and belong only to them.
In a nutshell, a private key is a special code which confirms possession of a cryptocurrency and gives access to your coins and to performing various operations with them. Unlike the public key (which is actually the address of your wallet and can be accessed by others) a private key must be kept by the user only.
We have already reviewed the experience of so-called custodial wallets when private keys belonged to a third party - and how these stories ended. Here you can read about the most famous cases with the custodial wallets.
Briefly, the main thing that differs custodial wallets from non-custodial ones is the fact that a user does not have full control over his/her coins. Of course, there is little chance to lose your private key: in case of loss, you will get help from custodial wallets in restoring it. But let’s speak frankly – isn’t it definitely better to be responsible for your own key and to control your money, as you can do with a non-custodial wallet?
As for Guarda – it is a light (or non-custodial) wallet, which gives you a full control over your private keys and your funds. If you use Garda Wallet, you can be sure that you are the only one to possess your keys. Of course, you need to remember by no means to give anyone the access to your private keys.
Keeping your private key in a safe place is also highly important; losing it will do no good - as you are the only holder. Here you can read more about private key security tips – like where one should keep it and how to avoid its loss.
It’s easy to make sure that your keys are accessible only to you and that they are not put on the Internet - thanks to the open snippets of Guarda’s source code.
We have already talked about such an entertaining phenomenon as open-source and we have figured out if there is a direct relationship between open-source or its absence and the security of the wallet (spoiler: no). But the most important thing full or partially open code is giving to you - is that you can make sure of your keys’ safety - they are generated and stored on your device only.
One of the most important tips for saving your coins that Guarda shares with its users is to make a Backup - a copy of all your private keys – in case you have to restore the access to your wallet or funds. If your wallet was stolen or damaged this is not a disaster at all – you can use the backup to fix the situation and recover your wallet.
If you need a detailed guide – here it is – Guarda’s professionals show you how to make a backup step by step.
By the way, backups are encrypted by the AES method. What does it mean? Actually, Advanced Encryption Standard is a special algorithm for the encryption of electronic data, which is widely used and already well analyzed.
The reliability of this method of encryption can be proved with the fact that the US National Security Agency has decided that the AES cipher is reliable enough to use it to protect classified information - up to the TOP SECRET level.
Another delightful addition is that Guarda encourages its users to make backups. Thus, it stimulates you to download the backup file. To protect you Guarda will automatically save the backup to a browser download folder directly after the registration and after adding a new currency to your wallet.
Learn more on our official site
**And what makes you feel safe when it comes to cryptocurrency wallets? Share your thoughts in the comments below! **
