Cryptos are Booming, but what is the BIGGEST problem with Crypto Currencies......Lost COINS:(....Are you at risk?
Steemians how would it feel to lose all your Bitcoins, Ethereum, Steem Power, Shit coins etc? I'm sure it wouldn't be something we would be that fond of, but it is a HUGE problem that the whole crypto currency faces. Many early adopters of bitcoin have had a first hand experience of either having their coins stolen, or losing them....I'm not really sure which one would be worse, but I know both problems can be prevented!
How can this be prevented?
- Never store your coins on a platform or a wallet that doesn't allow you to hold the private key. This means DO NOT hold your money in Coinbase, but instead move it over to wallet like Jaxx or Ethereumwallet.
I think in a few years hardware wallets are going to be almost free and everyone will have one.
Be smart my friends!!!
I'm sort of mixed on hardware wallets. Why not just encrypt a rar archive with a text file on a flash drive? You can make multiple copes and backup in different locations just in case one is lost/stolen.
Thankfully I find Jaxx to be relatively secure for the time being. Do you personally own the Nano S?