Outlook Money
With the rising adoption of digital assets, selecting a wallet equipped with strong security features is essential to safeguard your funds from threats and unauthorised access.
Consider wallets in which the private keys are solely in your possession. This indicates that your money cannot be accessed by any outside parties.
Select wallets that provide a secure recovery phrase or backup option, so you can regain access if your device is lost or damaged.
By requiring an additional verification step, such as a code sent to your phone, before approving transactions, 2FA can improve wallet security.
Multi-signature wallets reduce the possibility of unwanted access by requiring multiple approvals for a transaction to proceed.
Wallets that include tools to detect and block phishing attempts can help in preventing fraud and scam-related losses.
Wallets with open-source code and frequent security audits are often preferred, as their transparency allows for easier detection and correction of vulnerabilities.
According to Chainalysis, individual wallet hacks account for over 23 per cent of stolen crypto funds in 2025, highlighting the urgent need for stronger wallet security.