I'm worried about the safety of my tokens and coins

Hypnosis00

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.

Just do the very best thing which you think was right. The cost of security seems expensive but it is also worth it especially if you hold a huge amount of valuable coins there. We have to think about security as in this internet era and having new technologies we never know when these hackers will attack us, we'd better anticipate the situation before it is getting late.

Thus, if you need peace of mind, the use of an offline wallet is the best option.

bitbollo

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I suggest you read the "glacier protocol" to get a basic idea of how a cold wallet works and what are all the features that make a wallet safe. Its related to Bitcoin but It can be adapted to any coin.
you don't need a hardware wallet. The beauty of cryptocurrencies is also the simplicity with which you can keep them Wink

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Quote from: Fivestar4everMVP on May 04, 2022, 03:46:53 PM

There are several hardware wallets out there in the market that are really great and highly secure, I believe a simple search will sure give you an idea of what you want, but then again, you can turn your smart phone into a hardware, a strong one at that, its a simple process, all you have to do is get an old smartphone, download the wallet software of choice, it could be metamask or trust wallet, get your coins and tokens in there, get the sim out of the phone, turn off the wifi, turn off the phone, if the battery of the phone is detachable, remove the battery from the phone and keep it in a safe place, you have not just made a hardware wallet for yourself, but also, you have just got your coins and tokens into one of the safest cold storage wallet, as long as you keep it safe, this wallet is unhackable.

That is when you can't really afford to buy a hardware wallet.

It's also the same with what I've seen before about making use of old laptops and desktops and you'll not going to connect them to the internet for a long time.

As it will serve as your hardware wallet, it's actually a good alternative if you still can't buy your own hardware wallet. But, it's much better to own one and have your money be part of its budgeting.

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.

It's a good move man, nothing beats security and one can never be too careful, it makes no sense to make all the money and end up loosing it to hackers due to lack of security.

There are several hardware wallets out there in the market that are really great and highly secure, I believe a simple search will sure give you an idea of what you want, but then again, you can turn your smart phone into a hardware, a strong one at that, its a simple process, all you have to do is get an old smartphone, download the wallet software of choice, it could be metamask or trust wallet, get your coins and tokens in there, get the sim out of the phone, turn off the wifi, turn off the phone, if the battery of the phone is detachable, remove the battery from the phone and keep it in a safe place, you have not just made a hardware wallet for yourself, but also, you have just got your coins and tokens into one of the safest cold storage wallet, as long as you keep it safe, this wallet is unhackable.

barabas7

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Not really a reply but a question about safety of coins. Before looking further into it, I bought Bitcoin (just a small amount of $) using another person's address. Now I am concerned that they may have access to my LibertyX personal and financial information. Can anyone tell me about the possibility of this?
Thanks.

Bitbtc8

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Go with Ledger Nano X, it's the best that I can think of right now, also do know that there are closed sources among hardware wallets too, are you even aware?

The Cryptovator

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+ 2 just look for solutions before accidents. You have taken a good decision so far. A hardware wallet is the most reliable way to secure your funds. I have been using Ledger Nano X and I am comfortable with that. It's easier to use and looks smart as well. Keep in mind, that just using a hardware wallet doesn't mean your funds are secure. You have to secure your seed phrase once you are using a hardware wallet. If in case of compromise your seed means still you would lose your funds. Also, it's important to backup your device. So I would suggest Ledger.

BD Crypto

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You already said that you need to have hardware Wallet.So you can easily choose Trezor Model One/T or Ledger Nano X/S . Both are much popular and they are on the top in terms of security. So you have two best hardware wallets to choose, just use any of them.

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Quote from: cryptoaddictchie on April 08, 2022, 10:38:27 PM

Wallet softwares are kinda safe especially those trusted and closed source. But its much better if youll put that into trezor or nano ledger. Im not sure how big your tokens are but I think theres no problem in storage. In Nano ledger there is a limited number of tokens you could store maybe convert other tokens to coins that you are gonna stored so youll only categorized it as one so no restrictment.

What do you mean by that? Do you believe that closed-source wallets are safer than open-source ones? Or was that just a typo in the first place?

For example, Electrum wallet is probably one of the most popular desktop software wallets (along with Bitcoin Core) and it is completely open-source. Do you find it less secure than some proprietary software solutions?

albon

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.

Hardware wallets are more secure for you and will make you feel peace of mind because your private keys will be protected more than phone wallets, because your phone may be lost or stolen, and the phone holder will be able to access all your wallets, so I recommend the Ledger Nano X and Trezor Model T wallet, and after using these hardware wallets, never worry, your money will be in a safe place.

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind...

Firstly i must commend you OP for being proactive and security conscious, only few persons try to find solutions to issues before they become problems. Some person's wait first wait for the problem to occur before seeking solution, some see the problem ahead, but are nonchalant about it, shoving it off with the believe that nothing will happen. The proactiveness of OP is a good attribute worth emulating, don't wait for your coins to be stolen first or lost before you address the issue, learn to nip situations in the bud.

If you happen to be in same shoes with OP, that is the tokens and coins you have are piling up, you should share same concerns with OP about safety.

ice18

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There are many hardware wallets on the market you can choose, you just need to make a research on what suits your needs, personally I have not used any hardware wallets, I just carefully saved it into my portable password encrypted hard drive, but I suggest to follow other members advice to buy use hardware wallets if your worried for its security.
https://www.softwaretestinghelp.com/bitcoin-hardware-wallet/

VRExpress

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Closed source or open source wallet hardware wallet still stands tall on every other crypto wallet out there, try to get a hardware wallet.

cryptoaddictchie

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.

Wallet softwares are kinda safe especially those trusted and closed source. But its much better if youll put that into trezor or nano ledger. Im not sure how big your tokens are but I think theres no problem in storage. In Nano ledger there is a limited number of tokens you could store maybe convert other tokens to coins that you are gonna stored so youll only categorized it as one so no restrictment.

Darker45

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In addition to buying a hardware wallet, which has already been repeatedly suggested by other users here, I recommend that you do something about your growing number of coins and tokens, especially if you have already made a significant profit out of them. Those profits are paper value unless and until you start selling them.

So if you are really worried about the safety of your tokens and coins, you should be thinking beyond storage. You should also be thinking of their worth. Altcoins don't last long. It's not so much a question of where you are keeping them as how long should you keep them. If you haven't noticed yet, altcoins grow fast and die young. Act accordingly.

jossiel

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Quote from: Widdop37 on April 06, 2022, 05:24:50 AM

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.

You've already seen the best ideas on what you must do so that your assets are well protected. It's never been safe to use phone wallets to use for safe keeping.

They're good if you're spending the most time but if it's about safety, you did the right thing by seeking counsel on what you must do. There go the hardware wallets and that's what you must invest.

I've been using a Ledger wallet for years and never had problems with it.

Quote from: Doan9269 on April 06, 2022, 06:08:16 AM

i will recommend you Trezor One and Ledger Nano X. This are one of the best Hardware wallets and are open source, they are one of the reliable cold storage you can have your coins.

I'd pick the Ledger Nano S, there's a new version of S AFAIK.

aysg76

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Quote from: Charles-Tim on April 06, 2022, 05:50:47 AM

I will recommend Trezor model T, you can get it from their official website, https://trezor.io/. It is completely open source wallet and support thousand coins and tokens. Keep it safe from attackers. Offline attack can reveal your seed phrase, or best to use passphrase to prevent this as different keys and addresses would be generated by the addition of passphrase, while the passphrase can not be known to anyone else but you and not stored on the hardware wallet. In case of recovery, you will need your passphrase along with your seed phrase.

The Trezor hardware wallet is safe for the funds security as you are not having them on any centralised exchange and all your funds lies with your custody and keys never leave your device so practically there are no worries about safety.The risk will arise when you share you seed phrase or device physically with someone that could cause fund loss.

But speaking of Trezor we must also be aware about the latest phising attack on Trezor that asks users to download the fake Trezor suite and then asked you to fill the seeds and many people assuming it to be true lost their funds.You see even hardware wallets are prone to such hacks but the thing is the utter security lies in your hand and don't share your seeds with anyone.

All over the hardware wallets are the best like Ledger Nano S and Trezor to keep your funds safe instead of having them on any centralised exchange because not your keys not your coins is well known term.

pakhitheboss

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I would have also recommend you Ledger or Trezor hardware wallet but chances are that Ledger or Trezor can get you email phished out of your cryptocurrency that you are so worried about. If you are willing to take the risk then go ahead with anyone or you can check Safepal S1 which is far more affordable than the above mentioned hardware wallets.

mk4

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I like both Ledger[1] and Trezor[2] — almost equally, I just like Ledger's device look more. Do research on both and decide yourself which you like more.

[1] https://ledger.com/
[2] https://trezor.io/

Charles-Tim

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Quote from: Cuda911 on April 06, 2022, 06:40:32 AM

I thought ledger is a closed source wallet or this is not accurate?.

Only its secure element is close source, all others about Ledger are open source, including the Ledger live and you can use it with Electrum wallet which is open source.

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