Axie Infinity is, at its core, a blockchain based game. It utilizes cryptocurrencies like Ethereum, and Ethereum based protocols (ERC-20/ERC721) as the foundations for its Play-to-earn economy. It is much more than just another series of cryptocurrencies of course, but considering its draw for both crypto-enthusiasts and gamers with no crypto experience, it would be beneficial to go over some of the more basic security precautions a person can take to stay away from hacks, scams, and other potential losses.

Its also worthwhile to mention to any new users that Cryptocurrency is not inherently dangerous. In fact, in a lot of ways its probably safer than a traditional bank account, however scammers tend to go where the money is. When it comes to your money, arming yourself with knowledge about what to look out for, what to avoid, and how to protect yourself better is just a smart thing to do.

 

Basics

  1. Use Wallets from trusted providers. Metamask, MEW, and Trust wallet are all widely acknowledged as being trustworthy. (Generally Axie recommends Metamask.)
  2. Write down your private keys and store in a secure location (or 2, or 3!). Never store your private keys on a computer or anywhere someone else might have access to. Memorization is always a good idea as well, however memory can fade over time so best to have a backup!
  3. Never share your private key, or wallet password with anyone. No trusted site will ask you for your Private Key, and no Tech Support person would ever need your Private Key to help you.
  4. Use a different password for your wallet than your other accounts.
  5. Use dedicated devices and dedicated networks. Don’t use public computers or other peoples phones that could be infected with viruses or worse. Don’t use public wifi networks to access your wallet as these can be hacked as well.
  6. Don’t download anything from non-trustworthy sources. Viruses or Keyloggers can be hiding within the download.
  7. Don’t talk about your investments, or brag about how much you have. Openly discussing your holdings makes you a target.
  8. If you’re transferring to a new address, test it. Send a small amount first to make sure you’ve copied, or written the address properly.
  9. Double check that you are on the right site before entering any information. Some scams use common misspellings of websites to trick you into entering personal information. Do not click links in emails unless you are sure where they came from, and where they lead.
  10. Like the common misspellings above, searches for crypto on search engines often have fake ads that try to trick the user into clicking on their site. Make sure you are looking at the address before clicking.

An example of a scam Ad on Google, pretending to be Metamask.

 

Advanced

  1. If you have a decent amount of money, split your savings between multiple wallets. This way if one does get compromised, you don’t lose everything.
  2. Use a Hardware Wallet like Trezor (recommended). Hardware wallets are completely offline when you are using them, so there is no way they can be compromised unless someone steals the physical device AND has your Private Key.