Essentials

On this page you will find some essential information which can support you to be safe on the internet and of course in Crypto space. Consider the information as pointers based upon which you can do your own research.

General

1. Be aware that Cyberspace (internet) is even less secure than you might think. The only way to protect your private data (information) is to apply encryption. Encrypt private communication and data and store private data offline. PGP-encryption can secure your private data and communication (e-mail etc.); 
2. True encryption can be established when only you possess (and have access to) the private key. For crypto wallets this is often a mnemonic phrase, which consists of 12, 18 or 24 words. A private key gives full access to and control over encrypted data, communication or a wallet. Make sure you are the only one in possession of the private key and protect it. In case you are not the only one having access to your private key or in case you don't possess this key at all, then you are at risk;
3. Recommendable is to access the internet using VPN. This adds a layer of security to protect your privacy. Bear in mind that using VPN is just a part of securing your privacy and that additional measures are required.

Crypto wallet

1. Do proper research before taking a decision on which crypto wallet to use. In case you, and only you, want to be in full control of your crypto assets, you at least need to select a non-custodial wallet. A non-custodial wallet will generate a private key (mnemonic) for you, which you need to store safely, since that key supplies full access to your wallet and can be used to recover your wallet in case you lose your wallet password. With a custodial wallet on the other hand, you will not have the private key, meaning that a third party (the custodian) is in control over your wallet;
2. Protecting your private keys is an art. Make sure you have backups of your keys and store the keys offline in a safe place. Keep the methods of how you protect your keys for yourself. Telling others about how you do it, is a security breach on its own. This pointer applies to other private keys as well, like PGP keys for example. And of course, do not lose your keys and passwords, because you are the only having these in possession;
3. Be very careful and do extensive research, before you connect your wallet to a service offered on the internet. One click is enough to give a third party full access to your wallet. Obviously, however worth to mention anyways: All alarm bells should start ringing when one is asking to enter your private key (mnemonic) and/or password.

Delegating / Staking

1. Safely delegating / staking your crypto assets means that your crypto assets may not leave your wallet. Whatever you do, as soon as your assets leave your wallet, you are taking the risk of losing your assets. Staking services, but also other services offered on the internet, use smart contracts to take the assets from your wallet. These smart contracts determine what happens with your assets, which of course should be according to your expectation on what the service should deliver. Even if you are dealing with a trustworthy service provider, note that when something goes wrong at the provider you will be left behind empty handed;
2. In Proof-of-Stake blockchain technology decentralization is the security of the Ecosystem. From a staking perspective this means that stake has to be spread equally among as many unique (Stake Pool) owners, where each Stake Pool is close to saturation point (maximum "allowed" stake). To contribute to the security of the Cardano Ecosystem and with that to make it sustainable, the recommendation is to delegate your ADA to Stake Pools of which the owners have committed to maintain just one Stake Pool, also referred to as "Single Pool Operators".