Think security first, before you invest - page 2.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: promise444c5 on March 08, 2024, 04:58:24 AM

I think the word "cold" in term of storage means free from any form of external connection that is standalone storage .
This same word "cold" would be bridged anytime you want to make transaction as you will change to "Hot" for transaction.

You can make transaction and the wallet will remain as a cold wallet. That is why they are called airgapped. The wallet do not need to go online to make transaction. You will have a watch-only wallet with it which will be used to make PSBT (unsigned) transaction, sent to the cold wallet on airgapped device and be signed by the cold wallet. The signed transaction will be sent to the watch-only wallet for broadcast.

promise444c5

sr. member

Activity: 476

Merit: 299

Learning never stops!

Quote from: Charles-Tim on March 08, 2024, 04:35:40 AM

Electrum is a reputed wallet but it is an online wallet, not recommended for holding huge amount unless you used it on an airgapped device in a way that it is a cold storage wallet.

I think the word "cold" in term of storage means free from any form of external connection that is standalone storage .
This same word "cold" would be bridged anytime you want to make transaction as you will change to "Hot" for transaction.

Pi-network314159

sr. member

Activity: 350

Merit: 254

Enjoy 500% bonus + 70 FS

Quote from: Barikui1 on March 08, 2024, 04:25:33 AM

So before you invest in anything, ask yourself, how secure is my money, if I put am here? Make we no go follow rewards enter tight Conner oo, so as you dy try to make money, no forget to protect ur money also.
Bitcoin gives you that security wey alt and shit coin no go fit give you, and lastly make we try store am, in a very safe place like a self custodian wallet like electrum, because security na everything in this space.

All wettin you talk na true expecially the last part wey you talk say make we keep our coins for safe place like custodial wallet. As we dey always talk about bitcoin investment make we dey think of the best place to store am, because of anything happen to the wallet we dey keep am, wahala fit come out maybe if you don loss your key phrase. Me i no go lie, the first wallet I creat before I no no were the pass phrase dey right now, you know why? Because money no dey the wallet. But now I don dey see money like this I don no the value so I no fit make mistake any how. I no fit even release wallet address wey I never know where I keep the key. I no wan hear story. So we need to be very careful the way we handle our security because any pas phrase wey lost you are on your own (OYO)

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

There is no helpful guide to how the newbies can avoid scam and hack but you are only advising. If this should be rated, by not giving the necessary information that are most important, you can not get more than 1 out if 5 stars.

Quote from: Barikui1 on March 08, 2024, 04:25:33 AM

make we try store am, in a very safe place like a self custodian wallet like electrum, because security na everything in this space.

Electrum is a reputed wallet but it is an online wallet, not recommended for holding huge amount unless you used it on an airgapped device in a way that it is a cold storage wallet.

Barikui1

sr. member

Activity: 266

Merit: 205

My country people good morning inside this morning, today I wan talk about security, I know say most our elders here for this forum go know all this things, but due to the fact say newbies Dem dy sign up every day, I just say make I updated them, because for this crypto space, security matter na one of the basic things we sopos Sabi, if we want to survive or succeed.

It's very important as a new investor wey come into the system to think security first, because for this life wey we dy so, e dy very important say, as we dy try to make more money, make we no go lose the small one we try get, because of ignorance.

So before you invest in anything, ask yourself, how secure is my money, if I put am here? Make we no go follow rewards enter tight Conner oo, so as you dy try to make money, no forget to protect ur money also.
Bitcoin gives you that security wey alt and shit coin no go fit give you, and lastly make we try store am, in a very safe place like a self custodian wallet like electrum, because security na everything in this space.

Topic: Think security first, before you invest - page 2. (Read 259 times)