Safe Storage Options for Altcoins Cryptocurrency - Hardware Wallet, Ethos.io, Paper Wallet with Jeff
Currently, safe storage for cryptocurrency is questionable.Requiring many of us to adopt a diverse storage strategy. Many wallets lack the option to store all altcoins along with Bitcoin in the same place. Some choose to store on multiple different wallets while waiting for a truly universal wallet solution to become available. Maybe Ethos will be that option,
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I currently am using exodus for my heavy bags and free wallet app for lighter coins lol. I do use Binance as a semi wallet but try not to hold too much on it at one time in case of what just happened. I will be upgrading to Ledger in a couple weeks for added security.
Thanks Jeff and @altcoinbuzz. We need to keep #altcoinarmy secure and keep the bags safe
good info dave
My first purchase after doing my homework was a ledger nano s. Great product but only storing 4 coins at a time and about 20 coins being supported sucks. We need an all in one flash drive that holds whatever configurations you need for yourself would be ideal.
agreed
A hardware wallet is always the best option although Coinomi for Android is the best multi-coin altcoin wallet out there imo. Never been hacked, and you are always in control of your private keys/seed.
good point
This is definitely were most people hesitate getting into Cryptos. Interesting projects will hopefully help so that this will no longer be a major concern to future adopters. Good point on diversifying between wallets. Now with the MEW drama, I'm concerned we will be left with less options in the short term.
One option is to use myetherwallet for your ERC20 coins. You can use the option of 1 wallet for each coin, with the file saved on a flash drive and the white paper printed and stored. Or use 2-5 different wallets to split your coins up, just in case one the wallets gets hacked, you don't lose them all. Any option you use, save the file on a flash drive and print out the white paper for max security......Fraud sucks
Developer Desktop wallets are good for individual coins. I use a couple malti coin wallets. Coinomi is by far my favourite. What ever option you use to store your private key, it is always good to have it stored digitally and hand written on paper just in case. Not photographed with your phone. Not copy pasted and printed out. Legibly hand written is the safest way.