Topic: Does a rotation of a DCA HODLing account wallet, guarantee safety from hackers? (Read 314 times)

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If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

Why do you believe so, i don't believe that you have to be a whale to secure your wallet, i am not a whale but i protect my BTC's well.

Why do you believe so, i don't believe that you have to be a whale to secure your wallet, i am not a whale but i protect my BTC's well. The tools that you can use as extra layers of security is available to everyone. You can easily set up a multisig wallet in Electrum or extend your seed phrase with a passphrase. If you have an old laptop, you can easily convert it into an airgapped device, you must not have thousands of BTC's to do this.

I believe whales' wallets should have the highest level of protection, and hackers will have a difficult time gaining access to such wallets in the future.

If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

If you can practice proper security measures, you will not need to move your bitcoins from one wallet to another regularly. Moving bitcoins from place to place can be as dangerous as the danger you are trying to avoid.

With any slight mistake while moving the bitcoins around, they can get lost by being sent to a wrong address etc.

It is less about the address itself, and more about the precautions taken through how the coins are being stored. For anyone holding a significant amount in the long term, it should be a no brainer to use cold storage as opposed to wallets that are connected to a server or have access to the internet. A paper private key/seed, pk/seed on an encrypted external device or hardware wallets are probably the first options that could serve to be safe enough.

The step before a safe wallet however, is a safe system. Windows vs. Linux, Linux. A new account or system that is not a daily driver, one that is known to be safe. Next. The network level. Knowing that the network is free from vulnerability is another, more complex precaution to take.

Checking these three boxes will limit vulnerabilities down to the end user. No mistakes, no loss. Quite a few community members and myself have been discussing and voting for the topic to be added to a separate board to help with improving security and privacy in the Meta board. I recommend those and others interested in the topic to check out the discussion here and if interested in voting, visiting the community vote here.

Rotating the wallet may improve privacy, or provide a level of protection in a world where bruteforcing actually becomes possible (not really a problem at the moment). Ultimately it is superseded by the precautions listed above.

The other kind of security is physical. Ensuring that the wallet can't be breached offline, or has offline risk, is also an important thing to consider.

If you are a whale then holding up your coins on a single wallet would really be that creating that kind of doubt or fear but if you are really that pretty sure on where you have -snip-

Also, there's some possible risks -snip-

I was thinking just how much resources and attention to detail the brokers of whale investors, get to give and dedicate to an investors account inorder not to loose the millions of cash in their care. Same also applies to those of us who would prefer to DCA on our own without the help or services of a crypto broker.

If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

I casually thought most whale movements might have been not primarily for converting of BTC to fiat but for security reasons, of which one easy solution that popped up is to periodically or annually rotate the HODLing wallet account, just to be sure to keep intruders or hackers or scammers guessing.

Cold wallets sure does the trick, but I figure it might be too easy to discover, mostly when those around know of such DCA investment and live in proximity so as they can dicipher where the key phrases or cold wallet secret location is.

If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

"Those around?" You mean who? Who's going to reveal your identity to them as the person holding those assets? And who is also going to reveal to them where your secret phrase or private key is hidden? The reason why I said the security of your asset lies in your hands is because, if you fear that you will get hacked, you will not unless you by chance expose your secret information to a third party, or perhaps you have your Bitcoin wallet on your phone or PC, and through some unsecure sites that you normally visit, you mistakenly grant access to hackers.

When keeping your seed phrase, you don't only keep it in one place or one location; in fact, don't you know that you can keep your secret phone in 3 or 6 different locations? For example, if you have 12 secret phrases for your Bitcoin wallet, you can shear the phrases into 3 pieces, which means in one piece, you have four seed phrases; on the second piece, another four phrases; and on the last piece, you will have the remaining four phrases to sum up the total of 12 secret phrases for your wallet. You can keep those three pieces in three different locations. To access your Bitcoin wallet, you need to gather the 12 phrases from three different locations.

By so doing, you can't just get compromised because no one will know where to find all the seed phrases.

Nothing can guarantee any safety from hackers. Whatever you do, will only increase your chance of not getting hacked. Also moving from one account to another will not guarantee anything at all.

The best you can do is to have two factor authentication enabled. Where every outgoing transaction will have to be validated by two factor authentication. That will provide you with the similar level of security like rotating accounts.

To be honest nothing can really guarantee any safety from hacker.

Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

If a whale investor has done well to DCA Bitcoins and have accumulated enough for a while now, and is trying to keep such enormous amount of Bitcoin safe from hackers or scammers, is one of the best ways not to just rotate the DCA holdings annually or periodically between safer wallets, to keep it safe?
Does such kind of rotation of holdings guarantee it's safe from hackers or scammers?

Cold wallets sure does the trick, but I figure it might be too easy to discover, mostly when those around know of such DCA investment and live in proximity so as they can dicipher where the key phrases or cold wallet secret location is.