Protect Your Funds on Non-Custodial Exchanges
When you use a crypto exchange on DEX, you have direct control over your digital assets instead of giving them to a third party.
This kind of platform supports private trading while putting more of the responsibility in your hands.
Learning how to protect your funds on non-custodial platforms gives you more confidence and peace of mind.
By understanding the basics and staying alert, you can better manage your own assets during each trade.
Enable two-factor authentication (2FA) on your account
Two-factor authentication, or 2FA, adds another layer to your login process.
When you set it up, you use two different ways to prove you are really you.
This might be something you know, like a password, and something you have, like a code from an app or text message.
If someone guesses your password, they still cannot get into your account without the second step.
Without 2FA, a stolen password could let someone take your funds.
Go to your account’s security settings and look for 2FA options.
Follow the steps to turn it on, using your phone or an authentication app.
Having 2FA means your account is safer from unwanted access.
You can change or update your 2FA settings later if you need to. Use 2FA to keep your funds and account information private.
Use hardware wallets like Ledger Nano X for key storage
Keeping your private keys offline is a smart move for added security.
A hardware wallet stores your keys away from the internet, making it much harder for hackers or viruses to get access.
When you use a hardware wallet such as the Ledger Nano X, your keys don’t leave the device.
Even if your computer is infected, your funds are safer because your keys stay offline at all times.
If you lose the device, you can recover your funds with a backup recovery phrase.
This backup phrase should be written down and stored safely in a separate location.
A hardware wallet is a good choice for people who want more control over their crypto.
You don’t need to trust someone else with your keys, so only you have access to your funds. With a device like this, your money is in your hands.
Regularly update your wallet software to patch vulnerabilities
Keeping your wallet software up to date is one of the simplest steps you can take for better security.
Developers release updates to fix security problems and improve features. By installing these updates, you lower your risk of someone taking advantage of old issues.
Outdated wallet software may have bugs or weaknesses that are already known.
Hackers often look for users who haven’t updated because these wallets are easier to attack.
Make updating your wallet software part of your regular routine.
Turn on automatic updates if that setting is available, or check manually for new versions often.
Taking this action can help keep your funds safe from new threats.
Backup your seed phrase securely offline and never share it
Keep your seed phrase on paper or metal, and store it in a safe place that only you can access. Do not save it on your phone, computer, or in the cloud.
A fireproof and waterproof container adds another layer of safety. Avoid taking pictures or making digital copies, as these can be found by hackers.
Never share your seed phrase with anyone. If someone gets it, they can use it to take your funds. Always keep your backup private and out of sight.
Verify smart contract addresses before interaction
Always double-check the smart contract address before you use it.
Copy the address directly from a trusted source instead of relying on random links or messages.
You can paste the address into a blockchain explorer to see more details.
Look for code verification and check if there are any warnings or unusual activity.
Never approve or interact with a contract if you are unsure about the source.
If something feels off, pause and take some time to investigate. Being careful at this step can save you from losing funds.
Use password managers to create and store strong passwords
You need strong passwords to keep your accounts safe on non-custodial exchanges.
Password managers help you generate long, random, and unique passwords that are hard for others to guess.
With a password manager, you don’t have to remember every password.
The manager keeps all your passwords in one secure place, so you only need to remember one main password.
Password managers can also fill in passwords for you when you log in, which saves you time and keeps your accounts more protected.
Using a manager helps you avoid reusing the same passwords across different sites.
You should set your password manager to use at least 16 characters with a mix of letters, numbers, and symbols.
This makes your accounts less likely to be breached by hackers.
Conclusion
Your choices and actions play a big part in the security of your funds.
Use strong passwords and turn on two-factor authentication wherever you can.
Watch your accounts for strange activities and never share your recovery phrases.
Stay cautious with unfamiliar links and double-check details before sending any assets.
Following safe habits helps you keep control and peace of mind with non-custodial exchanges.
