A Note on Safety and Cardano

Cardano is designed to give ADA holders complete control over their funds. When delegating your ADA to a stake pool, you and only you, have control over your ADA - you can use, redelegate, or withdraw all or part of it at anytime. However, this also means that you have complete responsibility over your funds, and extra care should be taken to ensure the safety of your funds.

<aside> 🕸️ With great power comes great responsibility

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Common Risks

Some common things to look out for when managing your crypto are:

• Forgetting or losing your wallet seed phrase
• Unauthorized access to your wallet
• Sending funds to the wrong address

Security and Safeguards

Below are some important safeguards which will help you avoid common risks when dealing with your crypto funds.

Wallet Management

Proper wallet management is at the forefront of safety in the crypto space. If someone gains access to your wallet, or you lose your seed phrase, there is no way to recover lost funds.

• Store your seed phrase in a secure place, and never store it online.
• Keep backups of your seed phrase in case of an accident (e.g. waterlogged, fire, etc.)
• Use hardware wallets over software wallets when possible. This will protect your funds against software wallet hacks, and ensures that transactions only occur when you explicitly use your hardware wallet to sign them.

<aside> 🔐 There are multiple ways to store your seed phrase such as writing it down on a piece of paper or engraving it into a piece of metal. However, it is NOT recommended to store it online in case anyone gains access to your devices or accounts where the seed phrase is stored.

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