Guarda makes a guide on how to make up a strong cryptocurrency wallet password. After all, this combination of symbols is the key to your funds.
“Make up a strong password for your wallet”
Guarda Wallet gives this advice daily, assuming that this step needs no further explanation.
However, we are still living in a world where even your robot vacuum cleaner can be hacked. So, in this guide, we explain how to create a password that will keep your funds safe and how to never lose it.
Why are passwords important
The backup and the password are the keys to your crypto funds. On the very first step of Guarda crypto wallet creation, you will need to think of a password you will later use to access your backup. Guarda is a non-custodial service, so we do not know or store your wallet information (password, backups and so on). This means that if you lose your password or forget it, we will not be able to help restore your wallet access. Remember the Quadriga story? It’s something like this, but rarely of this scale. Despite this, custody-free services are actually way more secure, as you are the only owner of your wallets, cryptocurrencies and operations.
You can read more on non-custodial services here.
Cryptocurrency wallet password – how to
There is a piece of basic advice when it comes to making up a password that we are going to cover first:
You wallet pass needs to have at least 12 characters.
If you ask us why here is the answer – the longer the cryptocurrency wallet password, the more secure your coins are. There is no golden rule to the number of symbols, but try to create a key that exceeds the minimum of 12-14 characters.
Include various characters.
Adding numbers, symbols, capital and lower-case letters to your creation allows to create a crypto wallet password that is much harder to crack.
Try not to use words or phrases. We know how hard it is not to use the name of your favourite hamster or a combination of dictionary words. Any word used in the cryptocurrency wallet password is bad for you.
Do not use substitutions. You may think that “Porridge” is a bad password. It sure is. However, at this point, a venomous thought of “P0rridge” being a much better version may sneak in your mind. Please reconsider. It is still a very obvious substitution.
Use password generators
Possibly the easiest way to secure your crypto wallet with a great password would be using a password generator. You can find a wide variety of such services online. If you do not trust these services, you can also consider the tips gives above and use the good old method. Just press random keys on your computer and get something like this: gf86ftp\]3gYqwS3. This is what we call a pretty strong password. It includes a mixture of symbols, lower- and upper-case letters and, most importantly, it is completely random.
Now your crypto wallet is secure. The next problem appears – how do I memorize this?
How to memorize a cryptocurrency wallet password
There are several methods of memorizing a passphrase. Let’s review them in here.
If you do not have an amazing photographic memory and sometimes find it hard to remember even the easiest of things, don’t give up.
There is one fun method to both train your memory and remember all your passes – you can make up a sentence associated with a password. Use the first letters of words and numbers, for example. “I bought a house for $200 in the Little Village. The population there is 518 people”. Ibahf$2itLV.Tpti518p. Not bad, right? First of all, the passwords of such kind are more memorable. Secondly, you will have some fun making it up.
Also, you can write your password down somewhere. Be careful with this, though – your notes should be not available for anyone else but you.
Wallet password tips
Remember that your wallet security does not only rely on the strength of your password. If you made up a great combination and use it everywhere – from Facebook to your crypto wallet, the information can leak somewhere.
Using unique passwords for each of the services, keeping your computer safe from viruses and attacks and avoiding shady websites is important to your cryptocurrency wallet security routine.