Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: admin on May 15, 2019, 10:50:54 PM
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1 - Cold Storage - Paper Wallet - Safest
To generate : https://www.bitaddress.org
Instructions:
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Is there a payment before opening an account.
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Is there a payment before opening an account.
What are you writing about? Can you specify.
One note to the paper wallet. Paper wallet is really safe if you want to hodl BTC. But if you want to withdraw or send BTC, you must be online at the internet. And that is big disadvantage.
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The bitcoin is very manageabled, it is very easy to keep your bitcoin safe. Bitcoin is managed by the owner, it is never handled by the third party eg the banks. This means, you can select your own password and change it as frequent as you can. This will help you to keep off the frauders who may squander your share. You should share your password with anybody.
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Paper wallet!
Hmmm
Will try soon.
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Paper wallet!
Hmmm
Will try soon.
You must try it for yourself.
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I trust Hardware Wallet (Trezor) to secure my bitcoin. We have seen many cases in the recent time where bitcoin holders lost their keys so that can not retrieve again unless you secure your keys to another place. Losing keys means total loss because we do not have the option to click the forget password and can make the new so negligence can cost huge to anyone So I suggest keeps your keeps in 2 places so that if by mistake you lost it from one place still you would have the option to access from another place. Bitcoin is a gem keep it always safe it has changed many trader's life financially.
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The bitcoin is very manageabled, it is very easy to keep your bitcoin safe. Bitcoin is managed by the owner, it is never handled by the third party eg the banks. This means, you can select your own password and change it as frequent as you can. This will help you to keep off the frauders who may squander your share. You should share your password with anybody.
This will not save you from being intercepted by a virus. Then your coins will be stolen within hours. Changing your password won't help either.
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A helpful one.
Will try soon.
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You can keep it in several trusted wallets like, coinbase wallets or Binance wallets.
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When you keep your coins on Exchange wallets, you don't have full control over your funds, so it's not the safest method. This guy from BTC Sessions is also mentioning that.
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several types of wallets, including desktop, mobile, web, and hardware wallets. Desktop and mobile wallets are considered hot wallets because they are connected to the internet and are therefore more susceptible to hacking. Web wallets are considered even less secure, as your private keys are stored on a third-party server. Hardware wallets are considered to be the most secure form of wallet, as they are stored offline and are therefore not susceptible to hacking.
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Paper wallet might be safe, but it is inconvenient. Hardware wallet is too expensive. I prefer Guarda, though it is less safe.
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storing the bulk of your Bitcoin on a Hot wallet is not safe. Use a hot wallet for smaller amounts that are required for trading and keep a large number of cryptos in a cold wallet.
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You can store your Bitcoin in a digital wallet that has strong security measures, such as two-factor authentication and encryption. learn more at the moon channel on youtube.
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Consider adopting a non-custodial cold hardware wallet for all of your long-term bitcoin and cryptocurrency storage if you're looking for the safest option. Only keep items in your hot wallet that you want to utilise. Move your cryptocurrency back to cold storage once your transaction is complete.
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How close is interropability in the crypto space? I have heard about different platform, but you can't see a news where they owners of the blockchains are not talking about how to connect to each other and make it easy for users to move their assets from one platform to the other
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great!
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"Storing your Bitcoins safely is of utmost importance for the security of digital assets.
Educating yourself continuously about the best practices for Bitcoin Security and staying updated on potential threats is a never ending job.
Remember these steps can enhance the security of your bitcoins, and no method is fully foolproof.
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Storing your Bitcoin and keeping it safe is essential to protect your investment.
Choose a reputable Bitcoin wallet.
There are two main types: Hardware Wallets & Software Wallet
Remember that the security of your Bitcoin ultimately rests in your hands. By following these steps and staying vigilant, you can significantly reduce the risk of losing your cryptocurrency to theft or other security breaches.
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How to Store Bitcoin safely:
1. Hardware wallet
2. Cold storage
3. Strong security measures
4. Update software
5. Use reputable platforms
6. Backup wallet
7. Multi-signature wallets
8. Stay educated.
9. Use bitcoin loan on CoinRabbit to expand possibilities
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To keep your BTC's safe, you either use a hardware wallet or an airgapped wallet.
A hardware wallet would cost you some money and it is easier to use, especially for newbies, you can set up an airgapped wallet using one of your old devices, but you need to know what you are doing if you must use an airgapped wallet, so it is difficult for newbies to set it up in a safe enviroment. But above all, your funds is only as safe as the device you store it in and your opsec, I.E. if you use a hardware wallet and expose your seed phrase, you'll lose your funds.
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Storing your Bitcoin and keeping it safe is essential to protect your investment.
Choose a reputable Bitcoin wallet.
There are two main types: Hardware Wallets & Software Wallet
Remember that the security of your Bitcoin ultimately rests in your hands. By following these steps and staying vigilant, you can significantly reduce the risk of losing your cryptocurrency to theft or other security breaches.
Hardware wallet can be the priority for non-technical users because having cold storage and managing everything on our own can be complicated.
For a small scale investor, electrum itself enough and they can take some basic security measures that can avoid getting into the hands of hackers.
- Install wallet from the official website
- Verify the signatures before funding the wallet
- Keep the recovery seeds in physical format
- Avoid installing cracked version apps on device where you installed your wallet
- Use virtual keyboard if possible or else prefer stock keyboard
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I used to save a lot of my bitcoin assets on exchanges until I recently when I came by the advices from pro traders and I'm warned to make use of Coinbase wallets and diversify my savings which now makes me less prone to being attacked, hacked and all My assets stolen from Me. Thank You everybody for the extra-education here.
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Choose a reputable and secured wallet that support bitcoin, such as hardware wallet e g (Trezor and Ledger) also by adding extra layer of security to your wallet by requiring a second form of verification.
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You can store your bitcoin in a wallet that is user-friendly and that supports multiple cryptocurrencies, you can also consider diversifying your bitcoin storage across multiple wallets to reduce the risk. and in other to keep your bitcoin safe when having bitcoin discussion especially on social media it very important you do not expose vital information such as passwords and your recovery seed should be kept confidential, and constantly backup your wallet. if you can adhere to this simple rules you have nothing much to worry in keeping your bitcoin safe.
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These days more than anytime it is imperative that we are aware how to make our digital assets safe, sound and secured no matter how small or big they can be. Nothing beats hardware wallets on this matter but if one is not into that then get into a reputable non-custodial wallet service provider...am sure you can find one that has no verifiable history of hacks and mismanagement. Losing something is avoidable if we are taking the right measures and if we also get updated with latest happenings in the market most especially regarding security. In this industry, learning will never stop so we can protect ourselves from possible attack coming from anywhere else.
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I AM a big fan of trezor.
I have a few of them.
I use this
https://trezor.io/trezor-keep-metal-single-share
to back up this
https://trezor.io/trezor-safe-3
I got them on sale.
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Paper wallet is very safe though it is a little bit inconvenient so if one has the plan of holding some BTC for the long-term this can be a good option for them. Now, another safe option is hardware wallet though it can cost some money because you have to buy one. Safe is always the top priority of all of us and coming from someone whose wallet (MEW) was tricked using phishing I know that feeling of losing assets you worked for and invest with. Hacking crypto-based platforms and wallets of other people is now a multi-billion business and so we have to be careful not to be a part of the statistics.