Yes hardware wallet is the safest option but not all coins are supported by these devices.
There are other very safe ways to store your coins. You can download a multi coin wallet like coinomi and hold it there on a device that is kept offline most of the time. The most danger comes from downloading files especially compressed ones and opening email.
If you don't send your coins to the wrong address, don't invest in a scam, and don't hold on exchanges, you are already doing more than most investors.
Topic: How Best to Safely Store Your Coins and ALTs! Bitcoin is treasure; Alts are too. - page 4. (Read 431 times)
October 28, 2019, 06:52:42 PM
October 28, 2019, 06:46:25 PM
Considering hardware wallet is an expensive thing is awful because it only cost about somewhere $100 to $200 so spending this amount for securing coins worth in millions is something deserves.
Agree with other risks of using hardware wallet but this is what we have the best even compared to the other online or paper wallets.
Agree with other risks of using hardware wallet but this is what we have the best even compared to the other online or paper wallets.
October 28, 2019, 06:41:11 PM
A lot of crypto users still get it confused hence they loses their hard earned cryptos to either scam exchanges or ignorance of how wallets work. It is important that we sensitize the crypto community every now and then.
Centralize Exchanges
In 2018, the pretty bad boy "Scam" made away with millions of dollars in hundreds. Also, in the early 2019 to date, there has been reportedly exit scam and exchange hack associated with exchange such as Cryptopia, DragonEx, Coinmama, Bitrue and even Binance wasn't an exception.
QuadrigaCX exchange collapsed as well. See news here... https://www.coindesk.com/exit-scams-swindled-3-1-billion-from-crypto-investors-in-2019-report
Hardware/cold storage/ledger
It is pathetic seeing such huge funds being parted away with whereas it could have been prevented taking the right step. Undoubtedly, centralized exchanges rank zero where crypto storage is concerned. To be factual, hardware/cold storage is practically safe but with limitations which seem to be the exceptional strength of decentralized wallets.
A desired and effective wallet should have the following:
A desired wallet should be :
Decentralized wallet
Since 2017, I have been in crypto, I use only decentralized wallets with different functionalities but of recent, I discovered ATOMIC WALLET which is why i write this article being a satisfied user.. If you are reading this, I am pretty sure wallet isn't a new word to you and there are couple of them out there you can get on your mobile or PC. But ATOMIC WALLET has cool features perfect for both an average and PRO users. It is:
Centralize Exchanges
In 2018, the pretty bad boy "Scam" made away with millions of dollars in hundreds. Also, in the early 2019 to date, there has been reportedly exit scam and exchange hack associated with exchange such as Cryptopia, DragonEx, Coinmama, Bitrue and even Binance wasn't an exception.
QuadrigaCX exchange collapsed as well. See news here... https://www.coindesk.com/exit-scams-swindled-3-1-billion-from-crypto-investors-in-2019-report
Hardware/cold storage/ledger
It is pathetic seeing such huge funds being parted away with whereas it could have been prevented taking the right step. Undoubtedly, centralized exchanges rank zero where crypto storage is concerned. To be factual, hardware/cold storage is practically safe but with limitations which seem to be the exceptional strength of decentralized wallets.
- Cold storage or ledger may lost and that's the end.
- in case of fire accident or theft, it is gone.
- The time required in decryption might be used for other productive activities.
- it is expensive.
A desired and effective wallet should have the following:
A desired wallet should be :
- Safe and secure.
- Easily accessible.
- Flexible (i.e even if host is misplaced or stolen, funds can be retrieved without recourse to the actual host)
- Simple and efficient (i.e should provide for easy transferability and exchange of assets).
- Give value back to the user among others.
Decentralized wallet
Since 2017, I have been in crypto, I use only decentralized wallets with different functionalities but of recent, I discovered ATOMIC WALLET which is why i write this article being a satisfied user.. If you are reading this, I am pretty sure wallet isn't a new word to you and there are couple of them out there you can get on your mobile or PC. But ATOMIC WALLET has cool features perfect for both an average and PRO users. It is:
- a non-custodian wallet that neither stores your credentials nor can it assess your funds
- a multi-currency light wallet that lets you conveniently manage your crypto assets and portfolios (Bitcoin, Ethereum, XRP, Litecoin, XLM, BCH, Doge and over other 500 coins) in one pack
- a value-giving (option of earning reward through of ATOMIWALLET native coin -Atomic Wallet Coin(AWC)
- comprises of basic and advanced functionalities such as Storage, Swapping asset with another through the Atomic swap functionality -an advance feature that facilitates easy exchange of assets within the application thereby eliminating third party interference
- has inbuilt exchange services (in partnership with external exchanges such as Changelly, Changenow
- has feature to purchase crypto with bank/credit card
I have personally tried out atomic Wallet hence I can recommend it to anyone craving for security, value and reliability. If you need to participate in the airdrop, You will need this code YXRJ8 as given me by a friend. Atomic wallet Coin -AWC is listed on BinanceDex and IDEX. See detail on Coinmarketcap.com or atomicwallet.io
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