Staying Safe this Bull Run: Storage and Wallet Options

Every now and then it’s good to revisit the basics. Regardless of how we may see the recent market corrections, whether you’ve been involved in the industry for a long time, or you are just starting out, the opportunities to invest within this space means responsibility falls on each individual.

In the past we’ve often reminded our community members to be cautious of scammers and impersonators. Our team is constantly monitoring to ensure that any fake OAX accounts are dealt with swiftly and shut down as soon as possible.

However, there’s another aspect that we cover a bit less that we want to remind the community of: storage of tokens.

We’ve all heard the stories of high-profile exchange hacks or high-profile cases of lost passwords and the funds that become unretrievable. While we realize there are risks either way, community members should react with a renewed sense of responsibility rather than avoidance. Whether your alternative is hot or cold, desktop or mobile, the market is filled with options, and we encourage our community members to DYOR, finding the best option that works for them.

For most token holders, that will likely mean a combination of the wallets and set-ups but any combination will require users to pay attention to their privacy settings, password and secret key safekeeping. We hope our OAX Community stays vigilant with their security and takes all the precautions for their tokens. It’s times like these that cliches often are used, but also because they ring true: never put your eggs in one basket and in the words of Peter Parker, with great power comes great responsibility!