Topic: How do I keep my cryptocurrency safe? (Read 1396 times)

you should store in cold wallet, which is the hard ware wallet and paper wallet, although hardware wallet is expensive but less risky than paper wallet because there is no a backup and it is fragile as it is a paper only, more easier to be destroyed.

add ledgerwallet in your list https://www.ledgerwallet.com/, this wallet is best for hold bitcoin or altcoin long term.this also called a cold storage wallet. A desktop wallet is also good for cryptocurrency safe.
 

you need a ledger nano wallet. Never keep crypto asset in crypto exchanges.offline wallet is also good. Check out John McCaffee  new crypto wallet

E-wallets are actually much safer than regular wallets (with cash and cards) - can be stolen by anyone and damaged, but with a properly-priced electronic wallet It's not easy to steal money from your wallet.

Thank you very much mate for share this helpful information with us. I'm new here it is very knowledgeable for me.

yes 2FA is a integral part to improve your security and those who dont understand 2FA please watch youtube and when you put 2FA on any of your exchange account dont forget to stored its key and stored it at safe place  in case if you loss your phone

The information you provide is very useful for beginners. During the non-trading period, I will put my cryptocurrency in the cold wallet!

Yes, I always backup my wallet and write down the private key on a piece of paper and save them in the safest place I can  before starting to use the wallet. I never share those information with someone else, even my family members!

The only way to keep the crypto currency safe is to use the hardware wallet....

To always make sure your password is strong and kept safety for easy crack by the scammers..

Wooow!
This is really insightful.  I particularly have fallen prey to some scams. So this only is good enough information for me.
Will do well to keep my privates keys safe and employ two factor authentication to all my wallets.
Thank you

the ledger wallet nano is great!

If you want to manage altcoin, it is best to send some of them to your local storage like USB.

Thanks all for the information!

Yep. And also one needs to be vigilante of the kind of websites we visit, the olaces we tyoe our passwords, using the same password to perform so many different forms of activities and so much more. Security is always an individual's duty and so we need to be very careful.

Very good post sakib.bro, thank you.

In addition, you can find a list of all the available cryptocurrency-wallets and how the cryptocommunity has rated them here:
https://www.cryptowisser.com/wallets/

The above is the most extensive list of cryptocurrency in the world (that we know of at least). Is the number one wallet in the list a shocker to you or not?

Hope it helps! Good luck!

All the best,
Cryptowisser

Is it safe to keep the private keys on the PC unprotected or should we keep them in paper or diary? I keep them on my email but if someone can access your computer then sure they can access your mails too. So what is the most secure way of storing private keys?

Do not give your private key or seed or password to your wallet to anyone regardless who person says he is.
Sometimes when you do airdrop, they would ask you sign a message from your wallet through the link they give you,  if you use the link they will copy the details of wallet and scam you

Why not just buy a hardware wallet and it well serve just like what you are saying as a local storage (USB).

Get trezor or ledger s and that will be the end of the discussion. But there are also free multicurrency wallet apps like coinomi which gives you private keys too.

I personally recommend hardware wallet and my prefered version is Ledger nano s wallet. If someone could afford to hardware wallet, the best option stores a wallet that private key in your hand. if you are using MyEtherWallet, then you can use meta mask chrome extension to access the wallet. It very easy to use and safe.

In this digital world, mobile phones, hard drives, laptop’s, wallets are convenient repositories but nowadays this isn’t sufficient. It’s of vital importance
to secure your crypto wallet hard for keeping your assets safe.

Here are some of the best tips to keep your crypto assets safe and secure.

1. Securing a Wallet is similar to securing your personal data on the computer. You have to be aware of links, advertisement, any type of attachment
etc. which appears when a browser is being suffered.

2. Always create backups of your cryptocurrency wallets. So, that it will let you restore your wallet if in case your laptop or cell phone gets stolen.

3. Opening an account to buy cryptocurrency? Set up a unique E-mail id that you’re going to use for that account and never share that id with anyone.

4. Encrypt your whole device in which you are going to use cryptocurrency wallet. Make sure you have the best anti-virus installed on your device and
keep it up to date including anti-malware and anti-ransomware.

5. Set up a really hard and long password where it is only able to recover from a piece of paper that you control.

To continue

Nothing comes with a 100% guarantee of Security, not even the PAID security tools. But certainly, the tips below will get you enough close to the mark and hope, this may help you.

1. Securing a Wallet is similar to securing your personal data on the computer. You have to be aware of links, advertisement, any type of attachment etc. which appears when a browser is being suffered.

2. Always create backups of your cryptocurrency wallets. So, that it will let you restore your wallet if in case your laptop or cell phone gets stolen.

3. Opening an account to buy cryptocurrency? Set up a unique E-mail id that you’re going to use for that account and never share that id with anyone.

4. Encrypt your whole device in which you are going to use cryptocurrency wallet. Make sure you have the best anti-virus installed on your device and keep it up to date including anti-malware and anti-ransomware.

5. Set up a really hard and long password where it is only able to recover from a piece of paper that you control.

6. Don’t use two-factor authentication on an SMS that could be ported. Instead, using something a bit more like Google Authenticator or yubikey would be much better.

7. Never share the name of cryptocurrency or wallet which you use on social media or with unknown people, Keep it private.

8. Diversify your risk, Buy cryptocurrency across multiple exchanges. So, that in case if one exchange is hacked other will remain accessible.

9. Always use offline wallets.

10. Always use the cold wallet to keep cryptocurrency safe off the internet and cold wallet is like the saving account. While the hot wallet is linked to the internet and should only be used for everyday transactions.

11. The decentralized system doesn’t store funds. Nobody has any access to money accept the owner of that money.

https://cointopper.com/guides/how-to-save-your-cryptocurrency-assets-from-being-hacked-in-2018

I'm confused. Why would you not create and store your wallet on your computer? There are a number of ways of safeguarding your keys. This way your information cannot be reached by the government.

I wouldn't advise this for cheating on your taxes - but if you live in a country where you are trying to squirrel away funds in case of a future catastrophe then why store them on an exchange which can be confiscated, or put in peril, by your government?

If you are trader, you can store your asset in some big exchange (Binance, Bittrex) and don't forget to enable 2FA Authenicator. Else, you want invest and hold your coins, i suggest you buy a Ledger nano (cold wallet) to store your asset, keep Private key in a safe place

This topic entitled "Trust No One" gives some helpful information on how to keep your cryptocurrency secure : https://bitcointalksearch.org/topic/trust-no-one-33835. If you don't want to read through that whole topic, the title is a nice summary of the content.

Use metamask extension so that your private keys will be protected when you are using dex or decentralized exchanges,never give your keys to anyone or any website,buy hardwallets trezor or ledger would do ,add 2fa with your email and keep your recovery seed and private key in a safe place so that you these hackers wont any good chance of stealing your money.

Well, there are actually many ways to keep one's cryptocurrency safe, and it all lies or mostly the one that plays a big role is the wallet. There are wallets that have amazing features that are really helpful when it comes to making the coins safe and I would definitely suggest to use those kinds of wallets to be more safe.

There is even crypto exchange new projects addressing these security issues. LCCX is a crypto exchange that will be keeping most of users funds in cold storages and will be fully regulated by the UK' Financial Conduct Authority (FCA) - by doing so it aims to become the world’s most reliable crypto exchange, here is their ICO (till 04/30) description: https://icorating.com/analytics/basic/lccx-basic-review/:
"The project will provide the facility to place 60-75% of client funds offline in cold storage (storing assets on separate offline physical media)."

Well this is true but if you plan to sell an alt-coin quickly (if the price rises) it's easier to keep them on an exchange and set a sell order than transfer them to a wallet on your computer.

You are totally wrong. Never keep your coins on exchange. Exchange is easily hack-able. From my view exchange is very un safe place. So please don't advice any one to hold the coins on exchanges. My kind advice is go for Hardware wallet. It is safe.

But yet they have been back door hacked by a 15 year old apparently.
https://arstechnica.com/information-technology/2018/03/a-tamper-proof-currency-wallet-just-got-trivially-backdoored-by-a-15-year-old/

Hi, I hope this will help. Find a wallet that you know have a lot of good reviews, for me it's myetherwallet. Then if you already have, don't give out to other people your private key. Save it or right it somewhere that no one can see it. Don't trust anyone. And never ever give your personal information or download anything suspicious to avoid being hacked.

I think the problem is safe to store the crypto is very difficult. In addition to personal protection measures like privacy. used for hardware is the best solution. but be careful and meticulous that is the main problem.

I find myself more comfortable and secure with hardware and cold storage wallet  because it can protect my currency from hackers and thief. Preferably ledger nano S or trezor can be used.

Hardwallets will be more secured when you are using metamask extension because it will prevent you to enter to phishing sites you will get prompt not to enter because the site is a potential scam,plus metamask extension adds up some extra layer or protection whenever you are using decentralized exchanges,you private keys will be encrypted inside the mask so that these phishing sites and hackers wont have any chance of getting your keys.

fully agree, the best is to keep your funds in different wallets/exchanges, nano s is one of the best option, check out this guide https://www.coininvestmentreview.com/best-bitcoin-wallets/ it provides up to date info on best wallets to store your bitcoins/altcoins

Hardware wallets haven't been hacked remotely yet. They're designed in such a way that private keys never leave the device, so it shouldn't matter if it has been plugged into the internet. That being said, they could be tampered with if a hacker gets their hand on it in person. They're 100% safe so far otherwise. This is why you should never trust hardware wallet resellers.

But yeah, paper wallets are a little inconvenient, but could be just as safe, if not safer, if set up correctly.

I would agree with this, I have been very impressed with the ledger nano s and its ease of use.

Also might seem obvious but ensure your computer is secure, up to date virus and malware protection. Never open and click on links within emails that you don't expect or look suspicious.

Even a ledger nano can get hacked into.

I haven't heard of anyone having their trezor getting hacked yet.
But it could probably happen too since it gets plugged into the internet at some point.

Best to just use a paperwallet.

Diversify your exchange platforms but also your wallets. This might apply a little more to someone who holds a large amount of different coins, and is tech savvy, after all managing your wallets is a skill that takes time to learn. Whatever a beginner might do, the main point should be to avoid the habit of leaving their currency on the actual exchange site. Learning coin ownership is a must, and it requires having an understanding of what an address really is and everything a transaction entails.

Paper wallet for optimal cold storage, for everything else a hardware wallet like a trezor or nano--then maybe a mobile wallet for convenience/liquidity--if necessary.

Here is an updated list of available hardware wallets. https://bitcointalksearch.org/topic/hardware-wallets-3066531

Rule of thumb if you want to be super safe. Keep everything off line and never talk about it.

Any crypto coin is owned by the individual/entity is they are holding the private key of the same so it is necessary to keep private key under our own control without sharing it with others including web wallets/exchanges etc. One can use securely generated paper wallet or reputed hardware wallet to store funds offline to prevent it from unauthorized access.

I highly highly recommend the Ledger Nano S Hardware wallet. It holds up to 5 different cryptocurrency slots, swap in/out with over 20 cryptos without losing anything, and it's the most secure cold storage hardware wallet solution on the market right now. Never had a problem with it, works flawlessly.

General rules are one thing, second is to avoid proactive'ly.
The more you know about whole "computer world" the less likely you will get scammed.
Learn, learn and one more time learn. That have biggest chance to keep you safe.
Even computer experts are hacked, but its 0,01% chance compared to average person.

A loss is still a loss to me though, it'd be better to store your coins/tokens/altcoins on a Desktop wallet.
Only send amount that you are going to trade, otherwise keep it inside.

Never download/install anything suspicious to add to the list

In addition to the methods you mentioned, you can also spread your investments in multiple exchanges to remain safe. In case one exchange is hacked, your investment in other ones will be safe.

For those staying in countries that a nano ledger or hard wallet isn't readily available, the best practise is to be highly security conscious.

I cannot over stress the importance of 2fa.

Also, we shouldn't forget to backup, your Cryptos can be safe but inaccessible because you forgot to backup.

Use a nano ledger and keep the code and the ledger at a safe place
https://www.ledgerwallet.com/products/ledger-nano-s?gclid=EAIaIQobChMIqOCl39312QIVzrXtCh2FrAI0EAAYASAAEgJGvfD_BwE

I think it will  help all the beginners to improve there security in crytocurrencies..............

The safest way to store your airdrops are hardware & cold storage wallets. These wallets store your coins offline, and therefore protect them from being hacked. There are a number of hardware wallets available. We would advise to use the Ledger Wallet Nano S or Trezor.

Not all cryptocurrency can be stored in hardware wallets. We advise you to store your crypto in wallets where you control your private keys. You don't want your free crypto to be stolen!

To avoid scams we have a few general rules:

    Never give your private keys! beware of it
    Use 2 Factor Authenticator on your wallets. it safest way to protect
    Be careful downloading wallets of smaller projects. (make sure every thing or double check it)
    Never click on links redirecting to wallets .............. its very dangerous
    Don’t use your main email address to apply for airdrops