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World MobileTokenBlog
  • Welcome
  • Introduction
    • World Mobile Token
      • What is World Mobile Token?
      • How are WMTx and World Mobile linked?
      • Why connect the unconnected?
      • How do you sustain and deploy the sharing network?
      • What are our competitors doing?
      • How are WMTx rewards split?
      • How will WMTx be used for utility?
      • Why the need for a blockchain?
      • Why focus on a sustainable approach?
      • Self-data governance
      • Still not convinced? 🤔
  • FAQ & Support
    • Token Migration
      • Token Migration Guide
      • Self-troubleshooting token upgrade issues
      • What will happen to my WMT on CEXs and DEXs?
      • What is a token bridge?
      • What happens to my locked tokens or crypto loans during migration
      • General information on the Token Migration
      • Will WMTx be compatible with Ledger and Trezor?
    • Vault Support
      • What is the Vault?
      • Lost access to your Vault?
      • Unlock vault on a new device
      • Seed words don't work
      • How to locate your Vault .JSON File
      • Supported wallets
      • How to link your wallet to the Vault
      • How can I claim my unclaimed rewards from my old Vault?
    • Staking WMTx
    • How can I earn rewards and stake my ENNFTs?
    • How to Keep your Crypto Safe
    • Create a Support Ticket
  • Network
    • About the Network
      • Aya Testnet
      • Network equipment
      • Connecting remote locations
      • Customer support
    • What is an AirNode?
      • AirNode Sales and Ownership
      • World Mobile's Strategy and Expansion
      • Program and Technical Details
      • Batch Two, Drop One
    • What is an EarthNode?
      • What is an ENNFT?
      • How can I earn rewards with my ENNFTs?
      • How can I stake ENNFTs?
      • What happens if I forfeit my ENNFT?
      • Where can I see my ENNFT?
  • Token FAQ
    • Tokenomics
      • Token metrics and distribution
      • Token issuance governance
      • Token lockup periods for team and partners
    • TGE Archive
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On this page
  • Why should I keep my crypto safe?
  • Store your keys somewhere safe offline.
  • Never give out your seed words, private key or recovery phrase.
  • Only trust official channels of communications and websites.
  • What happens if I store my crypto on a centralised exchange?

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  1. FAQ & Support

How to Keep your Crypto Safe

Making sure your crypto is safe will save you more than just a headache!

PreviousHow can I earn rewards and stake my ENNFTs?NextCreate a Support Ticket

Last updated 7 months ago

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Why should I keep my crypto safe?

The cryptocurrency industry is always evolving and it is your sole responsibility to protect your digital funds by securing your wallet with essential safety precautions. The irreversible and pseudonymous nature of crypto means that it is rare to recover any lost or stolen funds. We have listed a few simple tips on how you can protect yourself.

Once transactions are confirmed on the Cardano blockchain they are irreversible.

Store your keys somewhere safe offline.

After setting up a Cardano wallet for the first time to store assets such as WMTx, you will receive your seed words. The order in which these seed words are given to you is critical, as they generate your private key, so keep them saved in the right order. These seed words can be used to recover your Cardano wallet on a new or existing device. Without them, you are essentially blocked from recovering your assets if you no longer have access to your wallet.

It is wise to keep these seed words somewhere safe. What if the device that stores your seed words breaks or is no longer accessible? How would you recover your wallet? A good idea would be to keep your seed words written down on a non-digital format, such as a piece of paper, that only you have access to. This should also be done for your Vault seed words and passphrase.

Never give out your seed words, private key or recovery phrase.

There is an increasing number of bad actors trying to take your crypto assets from you. Always be vigilant and never give your seed words, private key or recovery phrase to anyone! Anyone who has or knows this private information can access your funds and potentially steal them.

Keep in mind: if you take a picture of your seed words on a digital device such as a mobile phone - what would happen if it gets lost or stolen? Bad actors could easily find these pictures and use your seed words to steal your crypto assets. Be cautious of how and where you store your seed words.

If someone is offering you something that seems too good to be true in exchange for your seed words, private keys or recovery phrase, they are trying to scam you.

Only trust official channels of communications and websites.

World Mobile Token has multiple official communication channels which can be found .

Bad actors can try to imitate legitimate websites and communications channels. Therefore always double-check the links you are clicking on and the website URL. Do not blindly click on links from others, as it is crucial to only rely on official websites and channels. If you are unsure then a Google search and cross-referencing should reveal legitimate communication channels.

What happens if I store my crypto on a centralised exchange?

There are advantages and disadvantages associated with storing crypto on a centralised exchange and you should fully understand them before continuing your crypto journey.

Centralised exchanges act as custodians for your crypto - they show your crypto asset balance in the account on their platform. This means they own the crypto and store it in their own wallets that, in theory, they can only access. This removes the risks associated with holding crypto in your own wallet. However, exchanges are not perfect and can be susceptible to hacks and scams too. While they are the most convenient way to buy crypto for the majority of people, it may not be the best idea to use centralised exchanges to store crypto for long periods of time.

If you store your WMTx on a centralised exchange then it is not possible to benefit from staking your tokens in the World Mobile Token Vault. To find out what Cardano wallets you can use to store your WMTx check out the .

here
supported wallets page