Finally put all my ETH and tokens into a Cold Wallet.
I had the best sleep of my crypto life last night. Ever since I've been introduced into this crypto-world my sleep has been a mess. The main reason was my addiction to checking prices. I recently bought a Trezor cold wallet and last night I decided to forget about my main holdings just to see if my quality of sleep would get any better.
I can't stress enough the importance of having in possession your private keys. If you don't have them, the exchanges have full control of your investments and thats never a good idea. Strongly consider getting a cold wallet such as a Trezor or even a Nano S ledger because it will make your life easier
A) Makes it harder to panic sell (when most people LOSE money) because you don't have your coins on an exchange
B) Keeps strangers or hackers from stealing your possesions
C) Helps you develop a Warren Buffet style of investing long-term
Trust me guys do yourself a favor and secure your belongs. We know that nothing is 100% safe but having a cold wallet increases your chances of never getting your tokens stolen.
Best of luck to you all!
nice post. hard wallets are good for those reasons. However, DON'T LOSE IT. If you have a safe, I'd put it in there. And if you really want to get secure - have multiple hard wallets and distribute the funds.
However, there is a difference between an exchange and soft wallets. there are many options out there today. and there are also differences in how exchanges handle your money too. some have cold storage. some don't.
Many different ways to secure your funds, but distribution is probably at the top for me.
Joe you're right!
Every wallet is meant for a different usage. I would keep my hard wallet in a bank and never look back (long term HoDler.) Soft wallets are good to carry around small funds. I also think that distribution is the best way to keep your funds safe.
How much crypto you got on that hardware?
Does something exist for Steem holdings, but you can still weild your steem power or SBD apr%?
I believe you can can create paper wallets for Steemit.
Which will give you their private keys while still being able to have your steam power.
Hope that helps!
Do you think that Trazor has the best value for money? I am considering to buy it in next couple of days.
Yeah I strongly believe Trezor is the best bang for your buck. I would highly recommend it because it offers a on screen pin and even if you connect to a computer that is compromised they won't be able to access the private keys.
Let me know what you end up getting and how you like it!