Best way to protect your crypto against a natural disaster? - page 3.

ATSgrowth

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Quote from: Abiky on January 03, 2020, 01:18:12 PM

When a natural disaster strikes (such as an earthquake or a hurricane) you'll need to protect your most valuable assets. While most people preserve physical cash for events like these, crypto proves to be a better solution (as it's intangible). The most common form of securing one's crypto funds is a paper wallet. However, this method is not resistant against dust, water, or even fire. Even hardware wallets are susceptible to harsh environmental conditions over time.

I know there's something called "CryptoSteel" which is a seed wallet that's fireproof, waterproof, and even shockproof. The only downside is the price which is quite expensive. Which is why, I'm looking for the best way to protect my crypto against a natural disaster that won't break the bank.

Any recommendations or suggestions will be highly appreciated. Thanks in advance.

And what about paper that you will put into vacuum sealer and then you will put this bag into a some steel box and then dig somewhere in the garden. Isn´t it cheaper than CryptoSteel stuff?

desticy

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There is nothing better than physical referents for your private keys, such as plain paper. However, you need to think carefully about where to store these things.
If you are afraid of natural disasters, then you can save the backup copy of your key on any device or paper and hide it in a cell of a Swiss bank or bury it somewhere in a calm country not exposed to such dangers.
The main thing is not to forget cardinatas.

fullhdpixel

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Even the worst case scenario where online systems don't work you could potentially deal with paper bitcoin which you can print now. Nobody will ever want it and nobody will ever have ability to check it but in the end that is bitcoin and that is in paper, there is no safer method.

Even if there is only one computer left with internet, your paper money will be able to turned into bitcoin which I am %100 sure nobody will want and will be useless, if the world has no internet there are a lot bigger issues than having bitcoin or not having bitcoin, a world without internet is a troublesome place after all we moved our world into digital life in the past 20 years. However, if there is internet, then you can have bitcoin, it is quite simple just put it on your own pc or get ledger nano S and it is safe.

ethereumhunter

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Quote from: istiak2277 on January 06, 2020, 08:49:22 AM

what do you mean by that? how we can do something which is based online. If you are talking about the ledger wallet you can keep it in the bank. And if you worried about your written privet key you can keep it in google drive. I think it will be safer that way.

Saving private keys in the google drive is not a good idea since google drive connected to the internet. The best way that you can do is write the private key in the paper and save it the safety box, so no one will know if you have cryptocurrency. You don't need to save on the internet because when you send any data to the internet, you have a risk of getting hacked. Having a hardware wallet is a must if you want to protect your assets offline and not online because we don't know how safe to keep it on the internet.

OasisDre

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Why cryptosteel when you can find a silver steel and crave your recovery seed on them? They will forever last and nothing can destroy them, another one is if you have trusted cloud service you can upload your keys on there, just compress to zip and use a strong password

Fatunad

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There is nothing more secure than the life proof crypto wallet but as you said the price is expensive well at least you're sure about the security of your crypto asset in every disaster. The risk of lossing your wallet does not include the protection though so theres really nothing is certain when it comes to wallet protection.

istiak2277

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what do you mean by that? how we can do something which is based online. If you are talking about the ledger wallet you can keep it in the bank. And if you worried about your written privet key you can keep it in google drive. I think it will be safer that way.

magneto

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I think that you should aim for a combination of hardware wallets which are more resistant to natural damage than something like paper wallets, as well as a backup for your private keys or seed such as the cryptosteel (although there are many other alternatives out there that are available that could be potentially better in quality).

At the end of the day though, there is no perfect way to do this, so don't expect to be 100% safe.

The best you can do is to have multiple backups and do the aforementioned steps.

mrdeposit

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Keep 2-3 copies of the private key in different places or pierce a private key to a piece of metal that can be protected from these situations or keep it in mind.

Quote from: Latines on January 06, 2020, 05:26:47 AM

There are 2 ways. The first one is simple. Sell everything) Then you definitely won’t lose anything. But there is a minus, you will not earn. And the second one is not to go to your wallet every day, keep passwords on a piece of paper, not on a computer. Whatever security programs you use, people write them, and people can make mistakes.

Is not it possible that this paper will be affected by a natural disaster? Does it not burn on fire or remain under the clutter in the earthquake?

albrots

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Storing our assets or money in digital form will indeed be the best choice for protecting those assets in the event of a natural disaster. We will not lose our assets, because these assets are in the cloud server that we use.

but to save on crypto assets, you should choose stable coins, because the price movements that follow the USD currency are certainly safer from price fluctuations. Crypto like altcoin ethereum and others still have the risk to go down or up.
and don't forget to keep your private key or password in a safe place for easy access when natural disasters occur, if you have a hardware wallet you should just carry it wherever you go.

Latines

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There are 2 ways. The first one is simple. Sell everything) Then you definitely won’t lose anything. But there is a minus, you will not earn. And the second one is not to go to your wallet every day, keep passwords on a piece of paper, not on a computer. Whatever security programs you use, people write them, and people can make mistakes.

Free1bitco.in

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well, even our accounts can be lost if we put our assets at home, or assets like gold, it's quite easy to lose. so, crypto can be one way to save assets that are quite useful when natural disasters occur. however, each person may have their own way, but crypto can be an option. to be honest, I also own 70% of my assets in crypto. apart from investing, this is also my way to save assets.

jossiel

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I think for very common solutions, you just have to write it down almost for every paper that you can easily bring with. The paper that Ledger provides for our seeds is just small and can easily be in our wallets to be brought everywhere.

I think it's a very good question and until now, I don't have a solution or other means of that for this kind of event.

Quote from: perla on January 06, 2020, 04:26:01 AM

For now, i only save my data at google drive.

I'll avoid this at any cost. I will not save it to any storage online.

perla

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For now, i only save my data at google drive. But now i put 2fa via sms on mobile phone and sometime use google authenticator. But my risk is when my account get hacked, so all my data is revealed. I think people is right it wiill be good if save our assets in something that undestructable, but i don't have any choice for now.

bitzizzix

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In my opinion during a natural disaster that does not affect internet network access and does not affect your memory, it seems like everything will be fine.
most importantly you can store or remember your private key correctly and safely, and anticipate it in your own way that you think does not affect when there are natural disasters.

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Quote from: Mia44 on January 05, 2020, 10:31:41 PM

As I understand paper wallets are just a naming, you can store your private keys on other materials more persistently and keep them in your
safe vault

Yes, storing private keys in a safe place is very necessary, because by keeping our private keys safely will also help us protect our assets from hackers and attacks from greedy people.

DabsPoorVersion

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Quote from: masterrex on January 06, 2020, 02:30:23 AM

Really? why should i, as we all know cryptocurrency is a digital form so in my opinion it will survive whatever happens on our land as long as the internet infrastructure was survives still you can access your cryptocurrency holdings anywhere if you have in your position all those private keys that's why for me those expensive hardware wallet was not needed at all in the case of a natural disaster was happen.

It is true that if a natural disaster would come and as long as the internet is still working, you can still ensure that your crypto is safe. However, what you have said that the hardware wallet was not needed is not true at all. He is asking for any recommendation that might become the answer to this possibility. Like any alternatives to Cryptosteel which is a seed wallet because we need it for the safety of our assets. It is always better to have a back-up or a copy just to make sure.

masterrex

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Really? why should i, as we all know cryptocurrency is a digital form so in my opinion it will survive whatever happens on our land as long as the internet infrastructure was survives still you can access your cryptocurrency holdings anywhere if you have in your position all those private keys that's why for me those expensive hardware wallet was not needed at all in the case of a natural disaster was happen.

Aabcde

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During this time I put backups of private keys or other seeds in the cloud service besides the external drive and handwritten. Yes, of course, before uploading, I have protected it so that it is not easily opened by others.
Indeed the best option is to write it on objects that are not easily damaged or destroyed. But for me, it was too much trouble.

libert19

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Quote

Even hardware wallets are susceptible to harsh environmental conditions over time.

It's not that your hardware wallet holds crypto, your funds are linked to mnemonics, you can back up these words to some online service.

It would be good idea to encrypt the file containing seed words with password only known by you and then upload it, so even if malicious entity gets the file containing your seed you would be still safe.

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