What's the most secure 'workflow' when looking to invest in several coins?

Uao

copper member

Activity: 216

Merit: 58

Quote from: sabbathhawk on November 21, 2017, 02:03:53 PM

Hello
It is pretty straightforward. Basically, you just sending coins from one address to other, that's is all. Same as from one account to other.
Nothing to describe, you need to do try it first. The only difference is interface and software for wallets.

I'm pretty sure it's not that easy if you want to be secure but I'm going to try spending some money and see how it goes. Thanks!

sabbathhawk

full member

Activity: 266

Merit: 106

Hello
It is pretty straightforward. Basically, you just sending coins from one address to other, that's is all. Same as from one account to other.
Nothing to describe, you need to do try it first. The only difference is interface and software for wallets.

Uao

copper member

Activity: 216

Merit: 58

I'm leaning towards the paper wallet method but I'm not exactly sure of the steps I need to reiterate whenever I purchase and spend my crypto in order to remain secure all the way.

I've read at least a dozen blog posts and watched a ton of videos. It seems to me that under .5% of users are interested in security and investment workflows.

Everyone is discussing TYPES of wallets, cold vs hot, hardware vs software, etc -- but no one is discussing how to use that in the real world.

Here's an example scenario:

Quote from: Uao on November 20, 2017, 08:24:11 PM

Assuming that I want to invest in ETH, ETC, XMR, XLM and MIOTA.

#0 Download the ETH wallet and generate an address on an online machine (so this will be used to purchase all other coins).

Side Q: How to anonymously purchase ETH using fiat?

#1 Download the paper wallets for each of those coins from the respective websites.

#2 Put them on a USB stick.

#3 Generate addresses for each on the offline machine.

#4 Use a service like shapeshift to convert ETH to the other coins that I want to invest in.

Side Q: What are some alternatives? If shapeshifting is not an option. Exchanges?

Development: I now consider XLM no longer a viable investment and I need to move funds out of that and invest in LSK.

#5 ...?

Could anyone chime in and assist me in attempting to pin down a viable workflow?

PS: For reference, this is my last topic in the Altcoins section, but that received very few helpful replies https://bitcointalksearch.org/topic/how-to-safely-invest-and-store-different-coins-long-term-2433697

Topic: What's the most secure 'workflow' when looking to invest in several coins? (Read 227 times)