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Topic: Best way to protect your Bitcoins wallet - page 2. (Read 510 times)

legendary
Activity: 2604
Merit: 2353
1, the best way to secure your keys is to combine cold and hot wallet uses so that only the cryptocurrency you need at the moment is in the connected wallet.
It's true but unfortunately Bitcoin on-chain transactions are very expensive, and there is no way to use Lightning Network with a cold wallet. So it's hard to only hold small BTC amounts into a hot wallet if you need to spend BTC frequently, otherwise you will lose a substantial part of your funds in transaction fees payments.
hero member
Activity: 868
Merit: 952
Cold wallet are the best way to secure your Bitcoins because they cannot be accessed.
Once you transfer your keys to the cold storage , only transfer what you need to your hot wallets.
Also,

Firstly yes the cold storage are regarded as the most secure means of storing your bitcoin simply because your keys do not get access to the internet of at all they are setup well. But that doesn’t mean they can get access to them, you still need to secure the device and most importantly the seed phrase or private key well. Should any one get hold of you seed phrase back up then they can simply get access to the wallet.


1, the best way to secure your keys is to combine cold and hot wallet uses so that only the cryptocurrency you need at the moment is in the connected wallet.

I agree with you that little amounts for daily spending can still be kept on hot wallets, but it seems you’re confusing the word connecting both. You can simply use a hot wallet to track transactions of your cold wallet in a watch only mode and also use to create an unsigned transaction and also to broadcast a signed transaction also.

2, cold wallet, also called cold storage the best way to secure your Bitcoins private keys .

I can’t agree less but the best method again is how you back it up offline, do not leave them laying on cold storage device only, the device can maybe run into problems and you will need a backup to recover your wallet. Back your keys up offline in two to three different places



3, some exchange provide institutional_level secure cold data storage for user's kes, but some critics advise against this method.
 

You call them critics? I don’t, stay off centralized exchanges that promise to secure your funds for you, be your own bank by going for self custodial wallet
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
3, some exchange provide institutional_level secure cold data storage for user's kes, but some critics advise against this method.

Yes, and for a good reason - because they are not transparent. Nobody can know for sure whether crypto is actually being held in such an "institutional cold data storage" or if it just being placed inside some internet-connected wallet with a password.

And then there is also the problem of the exchanges themselves denying you access to your own funds, but that is a different story.
newbie
Activity: 22
Merit: 3
Cold wallet are the best way to secure your Bitcoins because they cannot be accessed.
Once you transfer your keys to the cold storage , only transfer what you need to your hot wallets.
Also, avoid custodial storage arrangements unless you need to use it for trading purpose or want limited insurance coverage.

KEY TAKEWAYS

1, the best way to secure your keys is to combine cold and hot wallet uses so that only the cryptocurrency you need at the moment is in the connected wallet.

2, cold wallet, also called cold storage the best way to secure your Bitcoins private keys .

3, some exchange provide institutional_level secure cold data storage for user's kes, but some critics advise against this method.
 
We should always be very careful and did our research especially we newbie we easily get into a scammers I think we should pay attention to our high rank leaders.
Because forum is very wide and full of scammers.
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