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RE: Seed Key & Cryptocoin Storage (get off your computer!)

in #steem4 years ago (edited)

Hey @broncnutz , while most things mentioned in this video is OK, one thing I strongly disagree,. That's the WEBWALLET.
I always keep saying to everyone around - KEEP AWAY your coins from a web.
Whatever it is - exchange or web storage, or web wallet.
2FA will be of little or no use - if there is nothing left to connect.

My order of preference for security is :
#1 Paper wallet
#2 hardware wallet ( NANO, Trezor etc)
#3 Clean cold smartphone

Then comes maybe a PC or web.

You may ask what? Smartphone?
Yes. It is still better than anything on the web.
Just buy a cheap ( can be second hand) smartphone, update the FW to the latest, erase everything, make reset to FACTORY defaults, install only the minimum required apps, wallets etc, store your coins there, place proper PIN and protection measures on it, recharge battery fully, switch it off, remove battery, and put all in a locked safe. You may check and recharge the battery once in a while, every 2-3 month. DO NOT use this smartphone anywhere, ever. Let it rest in your safe all the time.
TO my belief, you get this way to PRETTY MUCH TO THE SAME SECURITY as with NANO or Trezor, with even some extra capabilities and flexibility.
However still my

NUMBER ONE is PAPER wallet

How to build a paper wallet in a truly secure way is yet another story. Not as simple and easy as you may think. I may have my blog post on this one day soon.

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Good advice don't forget to keep your trezor or paper wallet in a fire and water proof safe, stories on the net about how this saved people after fire from being recked.

The better solution in case of NANO/Trezor - is having that 12-word seed properly encrypted and several copies of that in safe places (your imagination is a limit - where to hide)
the beauty is -- you do not even need to buy a new NANO or Trezor, if one is lost, as long as you have those 12 words. Just go to this page ( or saved offline copy),
https://iancoleman.io/bip39/

enter your "BIP39 Mnemonic"SEED - and right away you are back in business.

In crypto world it is the endless game:

copy-protect-hide...copy-protect-hide...copy-protect-hide...

I'm with you on that @onealfa, like stashing clones of your holdings anywhere you deem safest.

Completely echo your point... Best is paper wallet just need to take care of it. I personally had bought 2 Nano wallets but after few news floating around pertaining to possible issues with that, concerned on using them.

That cold smartphone is a great idea. Thank You for the new way of safe. Hackers never sleep!!!

I use a program that is password protected to store all my passwords and then I only cut and paste my user name or password into any site I want to login to... and never use the same password for another sites and always use 2FA where ever possible and also use a combination of letters numbers and chr in your passwords.. and update them often also helps.