Not the first time this has happened, but recently the Snap store from Canonical hosted a scam bitcoin app that claimed to be Exodus wallet that caused a user to lose money.
If you are going to “be your own bank” you need some very basic computer security skills like:
Research the reputation of the wallet you are going to use.
Don’t download wallets which aren’t open source
Download wallets from their official dev site, not some third party repo.
Don’t use Facebook search to find a wallet.
If you are storing significant funds, use a multi-sig wallet.
If you are not 100% confident in the security of a given wallet or system, send a smaller test transaction first before sending larger amounts
If you can’t be trusted to do that, you need to pick a trusted custodian to manage access to your funds (you know, like banks). Unfortunately, in the crypto world, these are few and far between and have a terrible track record with exchange collapses etc. It’s getting better, but it’s still a mess. Hopefully as time goes on and the industry gets better regulated and more mature, this will be an easier thing to do.
Yeah, I recommend looking up the most popular hardware wallet and downloading their app from the website. Then doing a round-trip transaction in some currency like XLM.
If you are going to “be your own bank” you need some very basic computer security skills like:
If you can’t be trusted to do that, you need to pick a trusted custodian to manage access to your funds (you know, like banks). Unfortunately, in the crypto world, these are few and far between and have a terrible track record with exchange collapses etc. It’s getting better, but it’s still a mess. Hopefully as time goes on and the industry gets better regulated and more mature, this will be an easier thing to do.
The more I learn about web3/crypto, it is increasingly getting closer to real life financials with all the same pitfalls and extra crypto problems
Yeah, I recommend looking up the most popular hardware wallet and downloading their app from the website. Then doing a round-trip transaction in some currency like XLM.