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Author Topic: How to Keep your Crypto Safe  (Read 27211 times)

Offline Sahilmetraniya

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Re: How to Keep your Crypto Safe
« Reply #30 on: November 21, 2020, 08:03:32 AM »
A cryptocurrency wallet is a software program designed to store your public and private keys, send and receive digital currencies, monitor their balance, and interact with various blockchains. You need to have a cryptocurrency wallet to manage your crypto assets and keep them secure.
There are many cryptocurrency wallets out there, but the essential distinction between them is whether they are hot or cold.
 A hot wallet is connected to the internet and can be accessed at any time. A cold wallet is not connected to the internet and allows to store your funds offline. You can still receive funds at any time, but no-one can transfer them out.

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Re: How to Keep your Crypto Safe
« Reply #30 on: November 21, 2020, 08:03:32 AM »

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Re: How to Keep your Crypto Safe
« Reply #31 on: November 25, 2020, 05:47:36 PM »
You can try Coin98, a crypto wallet that has been very popular in our community recently. It integrates many blockchains and accompanying services, and allows you to connect to some popular DEXs like Uniswap to swap directly on the wallet.
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Re: How to Keep your Crypto Safe
« Reply #32 on: November 26, 2020, 12:05:15 PM »
With the current merciless run of the bull market, it is only a matter of time before your crypto holdings surge in value. When it does, like it or not, crypto will unavoidably receive much-unsolicited interest from hackers. To not repeat the tragic Mt. Gox incident, holders are removing cryptocurrency from the exchange and decentralizing their storage.

The question of why you should purchase a wallet becomes the more pertinent question of which wallet should a cryptocurrency investor use. As do all forms of insurance, security comes at the cost of money and convenience. How should we balance it in a way that suits our risk profile?

In this post, I will summarize the unique features of the top 7 cryptocurrency wallets that an experienced holder must know of.

Desired traits of a Cryptocurrency Wallet

What are the desired traits of a crypto wallet and how hard can choose a wallet to be? This seemingly easy answer, unfortunately, does not have a satisfying answer: convenience may come at the cost of security; additional features may come at the cost of a steeper learning curve. More importantly, what are the traits that, ultimately, you value over the others? See the list below, not in order of importance:

Cost Is it free? What are the drawbacks of using this wallet?

Security Does the company have a track record of security excellence?

Mobility Is it easy to keep and difficult to lose? Is it accessible anytime, anywhere?

User-friendliness Is the wallet UI intuitively designed? Can I store a range of altcoins?

Convenience Am I able to make a fast purchase when the time calls for it?

Style Do I have a weakness for cool tech gadgets?
You may want a wallet that offers the best combination of the above-mentioned traits. Remember, all wallets have their edges and shortcomings.

7 Must Have Wallets: How To Keep Your Cryptocurrency Safe

KeepKey – Hardware Wallet

The coolest looking tech gadget to show off to your friends. Made by a relatively new company, KeepKey offers a hardware wallet of a polished design. KeepKey is said to be a port of Trezor’s code and firmware, so their main difference is the material. KeepKey feels like a ‘premium’ wallet but might be a little on the heavy side and hence more susceptible to drops. It comes with a standard, simple to use client UI.

Nano Ledger S – Hardware Wallet

Nano Ledger S is just as secure as the other two hardware wallets. It is popular because of its relatively low price of $65 compared to its competitors. Being smaller than KeepKey, it is more portable and easier to carry around. It is a hardware wallet that comes at a very competitive price.

Trezor – Hardware Wallet

Trezor is one of the first movers in the hardware wallet industry and sets the gold standard for crypto security. Trezor has a reputation for providing top-notch security, protecting against both virtual and physical theft. What Trezor lacks in style, it more than makes up in the security department. Even if your PC is compromised with malware, your private keys will still be safe with Trezor. In this sense, Trezor is more of a vault than a wallet.

Coinbase – Hot Wallet

Coinbase is an online web-based wallet and is the beginner-friendly version of GDAX. As a hot wallet, you can easily transfer to the GDAX exchange instantly, and for free. In the same interface, you can make quick purchases with fiat. What’s more, 100% of your crypto holdings on Coinbase is insured. You can activate 2-Step Verification and Google Authenticator for more protection, and Coinbase even has a vault available if you wish to trade convenience for an added layer of security. The only drawback is that Coinbase only offers Bitcoin and Ethereum wallets.

MyEtherWallet – Paper Wallet

Paper wallets are for those who wish to have their own private wallets without forking out cash for hardware wallets. The money saved could be invested in their coins. Simply generate your wallet online at myetherwallet.com and note your private keys. The website does not store or transmit any of your private information. If you don’t trust the online version, you can even download it from GitHub and run it offline. Paper wallets are free but require an in-depth knowledge to set it up properly. In short, this type of wallets generally take a lot of hassle and are not advised for novices.

Jaxx — Software Wallet

Carrying your crypto around safely and conveniently is no longer a distant dream. Behold Jaxx, the world’s first mobile wallet solution. Versions for iOS, Android, desktop and browser are now available. Jaxx uses a mnemonic seed to back up your wallet or transfer it to a different device. Jaxx allows you to receive your funds, scan QR code, view your crypto holdings, all in one intuitive app. Advanced features such as shapeshift integration and multiple platforms wallet linkage makes this the preferred wallet for the tech savvy. The only drawback with this wallet is that it might have a steep learning curve, and features might not be stable with all the new integrations. With time, this will prove to be a promising solution.

Electrum – Software Wallet

Electrum is a fast, lightweight wallet for desktop and mobile users. It has a long list of supported features to make it the most flexible wallet today. It offers cold storage solutions, integration with hardware wallets (KeepKey, Nano Ledger S, Trezor) and able to achieve anonymity (with Tor). On the security side, Electrum enables multi-sig support, and it is not tied to a centralized server, so server downtime will not be an issue. Overall, Electrum is the established software wallet solution out there that warrants a try-out.

Reference:
Velo, Suji (2018). https://www.blockgeeks.com
Thank you very much for sharing your answer with everyone in a very nice way. I have learned a lot from here and I hope you will create more good posts later.
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Offline Sammy9ce

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Re: How to Keep your Crypto Safe
« Reply #33 on: November 26, 2020, 08:26:56 PM »
We also need to take note on the wallet used for the transaction, this was helpful though.
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Re: How to Keep your Crypto Safe
« Reply #34 on: December 01, 2020, 05:11:26 PM »
The rate at wish hackers attract exchange wallet lately is alarming.  I personally suffer huge lose with the recent attack made on on kucoin.  The painful part is that I couldn't withdraw the rest of my assets for months because all withdrawal has been blocked by kucoin. Now imagine if I was going to use the fund to take care of emergency.  If I can't access my own asset anytime, then how is crypto better than traditional banking system.
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Re: How to Keep your Crypto Safe
« Reply #35 on: December 07, 2020, 01:55:39 PM »
I think that free wallets are more dangerous. If they provide you a service and security, you have to pay for it

Offline msz900

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Re: How to Keep your Crypto Safe
« Reply #36 on: December 22, 2020, 12:37:43 PM »
Basically, there are only two types are wallets, Soft Wallet and Hard Wallet. Soft Wallet is mostly free but less secure. Hard Wallet is costly but secure, the only draw back for Hard Wallet is that you have kept it safe so no one can steel it or you don't lose it.
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Re: How to Keep your Crypto Safe
« Reply #36 on: December 22, 2020, 12:37:43 PM »


Offline Quantum X

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Re: How to Keep your Crypto Safe
« Reply #37 on: December 22, 2020, 05:05:59 PM »
sure no one get your private key and avoid joining fake airdrops. Use 2 steps verification, different password for each site and save your password at offline store like your notebook or a pc which is not connected with internet. That's all i guess.
You are right. But when it comes about huge amount of your digital fund your suggestion is less effective compare to store it in a hardware wallet. Trezor and ledger nano are good choice by many.

Offline msz900

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Re: How to Keep your Crypto Safe
« Reply #38 on: December 26, 2020, 05:16:19 AM »
Crypto safety is not a  big issue if you secure the data related to wallet into some safe place, but nowadays hacking is very common in the digital world, and everyday hacker attacks on exchanges/platforms to hack the money.
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Re: How to Keep your Crypto Safe
« Reply #39 on: December 28, 2020, 01:16:10 AM »
Crypto safety is not a  big issue if you secure the data related to wallet into some safe place, but nowadays hacking is very common in the digital world, and everyday hacker attacks on exchanges/platforms to hack the money.
Yes, you are right. In fact, hackers are hacking most of the exchanges these days. Their main purpose is to hack any exchange so that they can grab a lot of dollars from them.  So first of all it is necessary to keep the exchange safe.
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Offline Magepai

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Re: How to Keep your Crypto Safe
« Reply #40 on: January 06, 2021, 12:04:12 PM »
How to Keep your Crypto Safe?

1. Don't give your private key to others
2. Don't save your password  to the browser
3. Avoid clicking some apps that are pop-up adds to your computer
4. install anti-virus & anti-malware
How to keep your Crypto safe
Thank you so much for giving me thispost.  If we go a little further, these things will never be hacked.  But I have seen many good exchanges being hacked from time to time.
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A MEME-TOKEN WITH NFTs AND
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Offline Master107

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Re: How to Keep your Crypto Safe
« Reply #41 on: January 07, 2021, 08:11:14 PM »
How to Keep your Crypto Safe?

1. Don't give your private key to others
2. Don't save your password  to the browser
3. Avoid clicking some apps that are pop-up adds to your computer
4. install anti-virus & anti-malware
How to keep your Crypto safe
Thank you so much for giving me thispost.  If we go a little further, these things will never be hacked.  But I have seen many good exchanges being hacked from time to time.

Beware installing anti virus or anti malware. Make sure once you do it you are 101% presence of mind to install the most relevant and real one, not fake or have a hidden agenda in the codes of anti virus.
By the way you can control your setting to not install or allowed apps or system that are not secure and can hard the system.
Go to settings and look for do not allow installation of unknown files.

I hope we are all safe and will be hack forever.

Offline monig18

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Re: How to Keep your Crypto Safe
« Reply #42 on: January 10, 2021, 12:55:59 PM »
How to keep your Crypto safe?

Just simply dont give your private key to others.

You do not need to post such long content, as much as possible rephrase it and use familiar words. I prefer short but clear posts.
Keeping crypto in wallets is better than keeping in exchanges, and yes of course do not disclose your key or phrases to anyone.Do not save these seeds or phrases in online places.Always save in offline.

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Re: How to Keep your Crypto Safe
« Reply #43 on: January 23, 2021, 04:42:33 PM »
There are lots things or steps to take in keeping our wallet safe, the wallet we use can also play a role in keeping our wallet safe, try as much as possible to use a very secured wallet and also try to keeps the keys very safe because if anyone gets to get hold of it that person can get rid of your funds in the wallet. Try as much as possible not to share personal informations with strangers.
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