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RE: How I secure cryptocurrency for under $1 [Creating a Cold Storage Locker]
I prefer to have a raspberry pi that stores my wallet on an encrypted file and updates itself. The file is uploaded to google drive. From a security point of view it would be best to have cold wallets but in practice you buy a lot of different coins and you are always too lazy to enforce good security. At least I am. I think it is always better to enforce working security than to not enforce perfect security.
Using the raspberry pi is a great cheap alternative to a computer or laptop that is air-gaped. The part of using google drive scares the life out of me! I understand the convenience, but I do not day trade, I invest, so I have predictable times when I know I need to get my coin(s) loaded into a hot wallet. I prefer not to ever rely on 3rd parties to store a copy of my key (even if encrypted). Call me paranoid, but I prefer just to never trust 3rd parties with my keys. Cold storage is designed for long term HODL, if you are day trading or moving funds often you probably can just store you funds on the exchanges you trade on, siphoning off profits to cold storage.
I agree there is a trade off for usefulness, but this article was about cold storage, the ideal long term storage mechanisms that do not worry about convenience, but focus only on security. Even at the end re-generating a new cold wallet and paying an additional TX FEE to send your unspent coins to that new truly secure offline wallet is for most people "over kill", BUT, if you want REAL security it is one of the best solutions!
Everything you wrote is true. It's when you want to do it right. I wish I could be as disciplined as you, I tried but failed every time I opened my wallet again.
About google drive, i thought a lot about that because I was trained to not load things into the cloud. In the end I trust AES and a good passphrase more than I calculate the risk of a fire in my flat. I thought about other solutions but atm I don't have any ressources outside my house other than gdrive.
As you mentioned, the big thing is real security. I am talking long term paranoid storage of coins.