Why is having multiple wallets the best way to protect your assets

Scammers are getting more and more creative on how to get to your crypto. Even if you know all about security and are cautious on which contracts you sign, lets be honest, you can be careless one time or if you are in a hurry and you make a mistake and allow scammers to access your funds in one way or another.

That's why it is good to keep your crypto on multiple wallets.

Crypto wallets nowdays are quite easy to navigate and almost every wallet has its own app for phone usage. You can have many different ones or create multiple accounts on one platform for example Metamask.

A good way to manage your crypto is to have wallets for different purposes:

1. Your "safe vault" wallet Get yourself a cold wallet like Ledger or Trezor and put the crypto here that you want to keep for an extended period of time. First rule of this one: Only send and recieve crypto here from your other wallets and NEVER use it to sign any contracts with any app or website. My advice is to also put it somewhere that you dont have immediate access to it as you can have it as your "savings account" and if you are tempted to get funds off it, you might lets say need to go to your basement and dig it up from a box or something. Not really to make it hard to access it but maybe inconvenient will do.

2. Your "operating" wallets Make yourself a few hot wallets which will hold your funds that you can easily move at any second. I use Trust, Phantom, Metamask wallets for this. Disperse your funds and I advise you to have one for each network (so you also dont send stuff over wrong networks). Send crypto here from exchanges and swap it on DEX. Even if by any chance one gets compromised, you wont lose a big proportion of your funds.

3. Your "play" wallets Make yourself one or two wallets (best are ones that support multiple networks such as Trust). These wallets you can use to connect them for games, new projects' dapps, shady websites or whatever. Send here only the amount you actually need to interact with desired websites and apps! These wallets will be the most vulnerable to scams so make sure you are always aware of that.

Also do not forget to write down all seed phrases and store them somewhere safe. I made 2 copies of each and stored them in separate places. I hope this was at least a bit informative, specially for newbies in this space. Stay safe everyone!