Protect Yourself! Get a Hardware Wallet! (Newbie Alert)


#1

When you start investing or trading in the cryptocurrency game, you need to understand the risks of leaving your digital assets on an exchange or simply, online!

The major benefit of having a cryptocurrency hardware wallet is that it’s heavily encrypted and can be safely stored offline, ensuring your coins and tokens are protected…

Entering this blockchain space gives us the ability to gain complete control over our own finances, but with that comes great responsibility.

Safely securing your digital assets should be the first thing on your crypto list of things to do, so invest in a hardware wallet. No question.

Watch this educational video to learn more…

To read more about this subject check us out here: https://www.shredtoken.io/cryptocurrencyhardwarewallets/


#2

I largely agree with your article, but I have one small nit-pik.

A password is NOT a private key. They are distinctly separate things. While private keys may be generated from a password, this does not make them the same. I support this spirit of your post, but high levels of security entail high levels of distinction.


#3

The major benefit of having a cryptocurrency hardware wallet is technical peace of mind… but this isn’t good enough and the bar must be much higher.

Go cold storage. Full stop.


#4

Great observations, and will do better next time to distinguish those differences :slight_smile: we love feedback it will help us produce better content for the newbies that we’re trying to assist! @Sniggly legend!


#5

Feel free to edit your post as necessary. And thanks for being positive. :+1:


#6

No worries :slight_smile: All edited! @Sniggly thx for your valuable feedback!


#7

I like hearing opinions about cold storage devices. What do you use? Thoughts on paper wallets?


#8

Paper Wallets FTW.

Do this:

https://walletgenerator.net/


#9

Thank you!

I always was partial to the idea of paper wallets. What are the fees that exchanges such as binance ask when sending coins to and from paper wallets? Where do you like to store them? In a safe?


#10

A couple questios I have are… Don’t printers hold somekind of print history? And Is it possible for that printed paper wallet to regenerated and stolen by anyone on that network?


#11

I have spent just about all day searching for wallets and honestly it seems that paper wallet is the way to go. Once your paper wallet is printed I understand all you need is the public key and you can deposit as you like but how would you go about taking your currency out of the paper wallet and on to the exchange?
I hope I am making sense lol


#12

There are public and private keys on them.

Also they can have QR codes so you can scan the transfer with a phone to move from the paper wallet to an exchange of choice.


#13

That´s possible yes. To avoid this you need a (probably older) printer without internal memory and connect a usb to it where the file you want to print is stored on.


#14

I see I see. I am going to have to try this out soon.
I could see paper wallets or some form of paper wallet being one of the most secure if not the securest way to hold crypto.
Thanks for the response friend.


#15

No problem. If you find a better wallet or discover other concerns with paper wallets, then shoot me a PM or post it as a reply to me in a thread so I can see it and learn too.

Thankfully we have the pub.


#16

Awesome… Thanks for the tips!!


#17

What if the printer is never used online and is only plugged into the computer (while offline) when making paper wallets? Is that safe or is there a potential problem?


#18

@CryptoLearner22 hackers don’t simply work online.
They spend time tracking down the heavy bag hodlers and then when they pop to the shop the hackers check your printer for your private key.
Crypto will never go mainstream until a simple, secure system is made available for the masses. Progress seems to have been very slow in this area.

Anyone know of a system that my 95 year old grandmother can use on her phone?


#19

Thanks! Always appreciate the help. It’s good to know there is a site like this to help people who are new :):sunglasses:


#20

Hardware wallet can be risky too, if broken.