You are right, keeping your coins in exchanges such as coinbase, poloniex and Bittrex is risky and you can’t control your coins. You will never know when will the exchanges closed down and your coins will be gone.
Keeping your coins in hardware wallet (USB as mentioned by you) is safe because it doesn’t expose your private key. You have full control to your coins.
Topic: Saving to USB (Read 114 times)
Probably the best security you can have is a hardware wallet like a ledger or a trezor. Having control of your own keys is important. Coinbase has only just credited people with bitcoin cash from the fork in August.
If you decide to invest in coins for a long time, then you should not store your coins on the exchange accounts, because it is dangerous. In order to secure your assets, you can buy Ledger Nano and transfer all coins for storage there. It's very convenient and safe.
But u can not have all coins you want on the nano ledger, or i am wrong?
Thanks.
So I would need to buy a Nano Ledger (for example). Once I have done that, where am I saving data from to put on the ledger? Is it direct from the exchanges and does this remove the data from the exchange to prevent hacking?
Murray
So I would need to buy a Nano Ledger (for example). Once I have done that, where am I saving data from to put on the ledger? Is it direct from the exchanges and does this remove the data from the exchange to prevent hacking?
Murray
Hi all,
I am about to start trading in altcoins but want to completely understand the process before I do so. I am comfortable now with joining exchanges and trading bitcoin held in my Coinbase account for alt coins.
What I am not sure about is the security of my holdings and I have read a few people commenting that they save to USB, can anyone explain the process here at all?
Thanks
Murray
I am about to start trading in altcoins but want to completely understand the process before I do so. I am comfortable now with joining exchanges and trading bitcoin held in my Coinbase account for alt coins.
What I am not sure about is the security of my holdings and I have read a few people commenting that they save to USB, can anyone explain the process here at all?
Thanks
Murray
They save their holdings not on normal USBs, but on special USBs called hardware wallets like Nano Ledger. This way of storing your cryptocurrencies, is the most secure method.
The best security you can get is by using a hardware wallet such as the nano ledger or trezor. These are powerful because your privatekey is safe on the device and is not shown to the internet.
Hi all,
I am about to start trading in altcoins but want to completely understand the process before I do so. I am comfortable now with joining exchanges and trading bitcoin held in my Coinbase account for alt coins.
What I am not sure about is the security of my holdings and I have read a few people commenting that they save to USB, can anyone explain the process here at all?
Thanks
Murray
I am about to start trading in altcoins but want to completely understand the process before I do so. I am comfortable now with joining exchanges and trading bitcoin held in my Coinbase account for alt coins.
What I am not sure about is the security of my holdings and I have read a few people commenting that they save to USB, can anyone explain the process here at all?
Thanks
Murray
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