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RE: The Bigger They Are The Harder They Fall; Biggest Crypto Currencies Exchange Failures

in #bitshares8 years ago

Good post, man.

I wish more people, especially all the new users who got some exposure to crypto-currency through steem, would realize the inherent dangers of leaving crypto parked in an exchange.

Unless you are a trader, there are few reasons to leave your crypto outside of your control.

Use #bitshares and #bitsquare, both are excellent software, one or the other will be better suited depending on what your goal is.

For anyone reading concerned about this: check my posting history/blog, you will see invaluable information about this subject in many of my posts.

And unless you really know what you are doing, do not store large amounts of crypto in your computer.

Use something like the Ledger Nano S to store your bitcoin instead.

I have one, and can personally recommend.

Electrum with 2FA is also pretty decent, provided you do not store the seed on your computer. And as usual with anything crypto, use a strong, randomly-generated password.

I recommend you mix the two: your long-term savings in a hardware wallet like the ledger nano s mentioned above, and a 2fa-protected electrum wallet for amounts up to 4 BTC or so.

And remember -- do not store the seed on your computer, and preferably be offline while you are generating the wallet.

And finally, because it never gets old....

Coin Marketplace

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