Wallet name!

hey cardano’s topguns,
is it a good idea to hide your walletname as a 3rd security only holder must know his wallet name,so when you send funds you first enter wallet name then your spending password.
so thats layer 3 to protect your gems.
or its not guys🤔
congrats all for ath of cardano
cheers :heart: from amsterdam

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I think it is a good practice to lock the screen of your laptop or smartphone if you are away from it. this prevent to use the device itself not just using the wallet.

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what i mean is realy not see your wallet name and only when you want to send ada the wallet ask you first your wallet name then your spending password ,so when you set up a new wallet you 1.get your 24words
2.then spending pasword
3. set up secret wallet name
the 3 layers to protect you more
:+1: cheers

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yes, that is clear - but you want to protect the wallet from who? I assume from a person, who does not have permission to access the wallet - but in most cases that means you want to protect the device itself from that person to get access.
So instead of adding another layer of authentication to the wallet it can be a good practice to enable screen lock on the device - which means you need to provide two passwords to able to make transactions in the wallet.

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Hi @Salem, if you want more security I suggest considering a hardware wallet. It will add an extra layer of protection where for somebody to be able to steal your funds must also be in the possession of your hardware wallet and it’s pin number.

Cheers :heart: from Rotterdam! Fijne avond :grinning_face_with_smiling_eyes:

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I agree with post repliers.

You can celebrate the ATH in the new thread I started at: All Time High Price Thread

I think an external cold storage (hard wallet) is a great choice - however I do believe that extra piece of technology costs money and that might dissuade newcomers of crypto.

True. To add to this argument, the choice for a hardware wallet is like the choice for a full package car insurance. The price of the insurance should be proportionate to the value of the car being protected. So if you got 300 dollars worth of crypto I would say a 200 dollar hardware wallet is not really worth it and a software wallet should be good enough.

and multi sig wallet is another layer of protection above hardware wallets…