I’ve used my main wallet to request the HDL airdrop (Crypto | HEADLINE) but right afterwards I got a little suspicious if subscribing to random ASAs is a good practice in general (i don’t plan on subscribing to any other as I care a lot about security and my Algos).
I’ve read in the developer docs something about recurring payments which in theory could lead to funds being sent to someone and started to overthink and get worried about my whole situation. Can a smart contract collect Algos or just specific tokens from my wallet? Should I move my funds to another account? (I would rather not, as this is the account associated with my super staking rewards…)
This is the token I’ve subscribed to: Algorand Asset
Pretty sure it’s just an ASA address and not a smart contract one, but since my money may be at risk, I could really use some confirmation that everything is fine hahahahah
Thanks in advance
The only ways funds can leave your wallet are:
- you sign a Payment / Asset Transfer transaction
- you have an asset with a non-zero clawback address, and the owner of the clawback address transfers tokens out of your account
- you sign a delegated logic signature (which can then be used to make payment / asset transfers on your behalf)
- you rekeyed your account
- your secret key leaked, your account is a smart contract account, or your account is a multisig signature and you don’t control all the underlying secret key
Apart from that, you cannot lose Algos nor assets.
[Note that this may change in the future. This information is correct as of 04/05/2021.]
That being said opting in to assets have the following drawbacks:
- it increases your minimum balance by 0.1 Algo
- it allows people to send you this asset to your wallet which can yield tax liability (but this is quite unlikely)
- it may indicate that you are supporting this asset and other people may follow your lead and be scammed by the asset
- …
Ok then, I can rest in peace now knowing that everything is fine.
Thank you for the help