Topic: HARDWARE WALLET (Read 241 times)

hardware wallet is always my first choice, I highly recommend this kind of wallet to users.

Yes, there are plenty of options where you can stored your fund if you can't afford any of hardwallets to buy, most often people use desktop wallet for cold wallet from a computer that didn't use internet to protect from malwares.

They just send small amount to their mobile wallets or web wallets for daily sending purposes where they can use to buy to some local stores or online shops where crypto is accepted.

And for security purposes try to follow all the security measurements of any web wallet and mobile wallets I'm very sure that there's an instructions there in the very first opening of the app.

Good question. When I made an investment in ethereum and other altcoins, I used to store them in my MEW wallet. MEW wallet can be safe AS LONG AS you generate your MEW wallet in the safest way. Hardware wallet will be always the safest place to store your coins.

If you are being cheap and decide to go for paper wallet and/or MEW, I suggest you to do those following procedures in order to keep your private key information secured when you generate your wallet(s):

If you don't have an advanced technical skill, please do those:

1.) Scan your computer for virus, malware, and spyware. Do this at least a few times! ALWAYS make sure your computer is CLEAN.

2.) Open a trusted wallet website and/or download a trusted wallet's zip folder. TURN OFF YOUR WIFI/INTERNET.

3.) Generate your wallet and PLEASE write down your private key on a piece of paper. Store it somewhere safe!

Side note: if you generate a MEW wallet, please generate a keystore file with your desired password. Please don't come up with a simple password. Keystore file is an encrypted file with your private key and password information inside.

If you have a decent technical skill, here's the procedure I used to do:

1.) Download a linux distro and boot it into a CLEAN flash USB.

2.) Download a trusted wallet's zip folder and boot into another CLEAN flash USB.

3.) Boot your computer with your linux flash USB.

4.) When you boot into your linux distro, PLEASE DO NOT CONNECT TO INTERNET/WIFI.

5.) Open your zip folder from another flash USB and run it. (Look for instruction prior to generating your wallet)

6.) Generate your wallet, write down your private key on a piece of paper and store it somewhere safe!

Side note: Please do the same with the keystore file as explained above.

I personally think generating your wallets on a linux distro without connecting to internet is the cleanest way to do because it doesn't contain any malware, spyware or virus.

DISCLAIMER: It is at your own risk when it comes to generating your wallets. Good luck!

If you can afford hardware wallet, it probably means that you don't have big amount of cryptos and you don't neccesarily need hardware wallet. If you're planning to hold in long term, then you should create paper wallet - it's best option for you until you will save enough money to buy hardware wallet.
About knowledge - you don't need any special knowledge to manage hardware wallets like Ledger Nano S. Everything is very simple, even if you're noob in crypto.

There is no need to purchase a hardware wallet until your portfolio reaches a value that needs extra protection.
If you only have 100$ worth of BTCs it makes no sense to invest in a hardware wallet that also costs around $100. Wait until it is worth it and if you cant/dont want to invest in a hardware wallet you will be fine using a desktop wallet, just make sure you are in possession of your private keys and keep them safe.
DO NOT use a PC/laptop that is full with pirated software, torrents, porn, non existing or low quality security from viruses and malware and dont use it for the mentioned activities.
Most importantly, use common sense, dont click on email links and everything you find on social media, internet, ads etc. Hackers are targeting crypto currency wallet software more and more every day. 

I'm trading ALTs but holding BTC and ETH so I use Ledger nano S to store.
My alts are on trading plattforms only.

Well for me, based on what I experienced desktop wallets are safer than using any web wallet if you can't afford to buy a hardware wallet desktop wallet is the best compared to use a web wallet. Just make sure that your PC or laptop has antivirus updated to protect your PC to any malicious software and viruses.

You can try to use electrum wallet for bitcoin and for other assets make sure to use their official wallet and don't use any 3rd party wallet for the safety of your funds.

Aside from the personal options that one can recommend based on their experience, there is a good thread on the topic by @Lauda that goes into describing the different types of wallets and related best practices. Take a look at Bitcoin Wallets - Which, what, why?.

Ledger Nano S hardware wallet is not difficult to manage, although for some economies the price may be a bit steep since it is around 100$/€. Apart from safety, although it is a key decision factor, when choosing your wallet/s you’ll need to consider other factors such as ease of use, fast access, supported cryptocurrencies and so on.

I'm thinking about it too. As what i'm thinking how to keep my coin safe is to use multiple addresses but it also cost you fee for every transactions. So far, here in philippines had a website that accept bitcoin and support a wallet for bitcoin and ethereum so I will use it when I have bitcoin. About yours is I don't know if you have but if there is no safety wallets out there you can use coinbase where you can also buy bitcoin there. If you don't like coinbase just find a known and secured wallet and you personally keep your wallet safe.

It is possible to safely store your assets in a software wallet, but it depends on (1) the software that you use and (2) the device that you run the software on. Hardware wallets take care of both these things An easy and cheaper alternative might be storing them on your phone. Smartphones have reasonably secure hardware and if using open source wallet software you have some assurenaces about the trustworthiness of the software as well.
Hope this helps.

Hardware wallet seems to be the safer place which our crypto coins should be kept with guarantee of not be scam but, my question is what of those that can't afford or don't have the knowledge of this hardware such as ledger 📒 is there any other way they can safe guide and protect their crypto assets apart from hardware wallet? Thanks for your response.

Best regards

JallaChrist..........