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RE: 4 Worst Methods to Store Cryptocurrency
So these are the 4 worst methods, what are the best methods? I would have thought these were the only methods.
So these are the 4 worst methods, what are the best methods? I would have thought these were the only methods.
I like this comment - we're looking for solutions. Part of the cryptocurrency component that people like is the accessibility - not sure about how we can access easily without our phones?
Well accesibility is a 2 sided sword, the more easily you can access your money, the same way a thief can also.
I think people should separate their wealth into 2 , possibly 3 caterogories:
I agree with that. Especially the long term storage - I wouldn't be upset if I lost $100 compared to having $100,000 drained - so that's a great point. It's amazing to see the growth in the crypto field - and with that growth there's always wolves lurking. :)
Yes I mean having 50-300$ in a mobile wallet is no big deal, so if you go into a grocery shop you could probably use that to buy food and other stuff easily.
But storing all your wealth there is madness.
NIce.....I hope it can help you to make more money
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I was thinking the exact same things.
Well the last of the worst is the best in the list, currently.
Of course it's not the best best in the sense that it has no flaws. I am still waiting for some open source hardware, these pesky chip manufacturers can't be trusted. They put all sorts of crap backdoors inside computer components.
And there are already better methods to store cryptocurrency, like an encrypted paper wallet or brainwallet.
The same four! ha ha ha.
Actually, offline media like paper wallets are considered the safest. Generate a random key by throwing a dodecahedron 76 times or flip a coin 256 times. That should give you a 256-bit key. Then enter this on the PS/2 keyboard of an offline computer in order to compute the bitcoin address. Print out both. Send your bitcoin to that address.
Printing out private key is not a good idea, a printer stores the cache of what it printed out, so anytone who hacks the printer can know what was printed out.
Work out the address by hand. :)