Thanks to Markus Spiske for the photo. This picture is trying to show how much effort hackers will go through in order to try and obtain your crypto.
Are you tired of feeling like your crypto is constantly at risk on the exchanges? Stop waiting to protect your investments. It might seem like a bad idea to spend $150 on a hardware wallet if you haven’t invested more than $200 into crypto, but I honestly think buying a hardware wallet should be the first thing you do.
Imagine if that $200 investment turns into $20,000 and you weren’t protecting it properly. This is the kind of thing that can happen in crypto in just a few months or even a few weeks. Dent coin is a great example of this. On December 7th 2017 Dent was trading at $0.0008, and on January 9th just over a month later Dent coin was trading at $0.10. An $80 investment into this coin would have made you $10,000 if you had sold at its peak. Don’t be cheap on something like this, I completely recommend getting a hardware wallet. Here are your options: https://trezor.io/ https://www.ledgerwallet.com/ https://coolbitx.com/ I don’t know much about Coolbit X because it’s a little newer, but when you visit their website Charlie Lee of Litecoin is promoting it. There are even free and secure mobile wallets available for your Ethereum tokens like Enjin wallet which can be unlocked with your fingerprint which are better than leaving it on the exchange while you wait for your crypto wallet to be shipped to you. The colder the wallet the better, this is why some people trust private keys written on paper, but I'm not sure I like this because people can actually hack your computer to see your keystrokes and record your private key.
For those of you that don’t know what I mean by hot or cold wallets, a hot wallet means your wallet is always online and therefore much easier to hack like leaving the coins on an exchange or even an online web wallet. A cold wallet means you can completely disconnect your wallet from the internet so that it will be completely unhackable with your funds and safe and protected until you put it back online. If you already knew about this then that’s good. For those of you who didn’t know about this, think of the all of hacks that happen online everyday and all of the exchanges that have already lost their customers millions of dollars. Don’t be cheap on something like this, buy a hardware wallet and don’t hesitate. No matter what don’t buy a ledger or any other wallet off Amazon or Ebay, they have probably already seen the private key and will have complete access to your funds. Buy it directly from the website.
The Mt. Gox hack happened in 2014, and was the worst hack in crypto history where people thousands of Bitcoins, many of these people could have been millionaires right now if they hadn’t trusted the exchange with their funds. If you already have a hardware wallet or you want to stick to a paper wallet then you're ahead of the curve. Don’t leave your crypto on the exchanges because they are at risk every single day. Make sure you are using 2-factor authentication on exchanges where your investments are more important. I’m not getting paid for any of these links, I just thought I’d try to make sure that you are keeping your crypto investments safe. Make sure you are visiting the legitimate website before you make any purchases, and if you already knew everything I mentioned then I hope this is a good reminder.
Also, worth mentioning is that Initiative Q is getting started on building their own payment network where they will attempt to pin each Q to 1 USD. More details below.
Initiative Q is building a new payment network and giving away significant sums of their future currency to early adopters. It’s by invite only and I have a limited number of invites. This giveaway is worth about $10,000+ if they can achieve their goals.
My personal invite link: https://initiativeq.com/invite/HfpQ86aVX
GOOD AND NICE ONE
I signed up because they only asked for my e-mail and name.
I signed up. How do i get verified?
I think I just verified you. If not, click on the invite link again. Thanks.
Thank you. I like airdrops that dont ask for too much information so I hope this one succeeds.
Yes of coarse we should see the details about crypto about what we are doing??
It.s raely good articel
Thanks for information
Great advice for those getting into and already invested in cryptocurrency! Taking necessary precautions is so important - imagine being one of those people who would have millions now if they'd had tips like this. Thanks for sharing!
--Jeroen Van den Bosch, co-founder of Virtual Universe
vutoken.io
Thanks for saying that. I think this is important. No one should have their funds stolen. I'll take a look at your project!
It is imperative to get this gadget by crypto members world wide. Thank you @the4thmusketeer.
Thanks for your valueable information
Totally agree, get a hardware wallet and stash your coins... at least a good % Those coins that you don't want to play with.
agreed, its worth its just to save the stress!
To protect bitcoin or Cryptocurrency hardware wallet is very helpful that I understand from your article. Would you please reply me if the hardware will damage?
While the hardware device should be protected, you won't lose your private keys if you lose the wallet. The seed that gets created when you initialize the wallet is what must be protected at all cost. In the case of the Ledger, it's an ordered, 24-word list that will reconstruct your accounts if your wallet gets lost, damaged, stolen or whatever. If that list is lost and your device is inaccessible, then you have lost your currencies for good. I believe all the hardware wallets use a seed like this. Remember, this is why informed investors are always saying to get your investments off the exchanges. The exchanges actually are the ones who hold the private keys, not you. You only have a journal entry in your account for the currencies you own, so you have no control over them. All the security measures exchanges take are good...2FA, email confirmations before finalizing transactions, etc., but these methods only address the marginal threat of individual account compromise. The more serious threat is hacking the system and obtaining the private keys, resulting in a much larger theft.
Yep, that's correct.
Over time a hardware wallet could get damaged if you drop if often or it gets water damage. But I've had mine for over a year and a half and it still works.
Better to be safe now than sorry in the future honestly
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STOPTo support your work, I also upvoted your post!
Yeah right, but beginners can't afford it.
I know its hard for beginners but once you can afford it, you should buy it.
Sir in past i not invesed in any crypto currEncy . How can start that in lower order .
Very informative article.. Nice one!!!
I bought a ledger nano s. But sadly it is not working for Steem or SP.
Yeah, I wish their was hardware wallet integration here too, but that will probably happen in the future.
I got my Trezor in envelope covered in what I think was black gunpowder. Too bad I did't do any video of it, it could make a nice
BANG
Why do I think it was gunpowder? Because it looked like it and a lot of it get imported from Czech Republic to my country.
Sounds interesting, why did it look like that? Did they make a mistake with packaging?
I had bought KeepKey and it is easy too use too. I am just confident that I am secured.
the given information is very good and explained way is really too much good. keep it up !
Congratulations @the4thmusketeer!
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thanks, i didn't know
What kind of hardware bitcoin is it ?
Can you explain me more.
I understood whatever and its damn true.
But i wanna know more about this. Please.
Notable evaluation friend. this tool is what i was looking for pretty a while already. some thing similar to Fiverr but construct on the blockchain.
I desire they might change their call. the stipend is an awful call for a venture. no longer catchy, tough to don't forget. and doesn't sound cool in any respect :)
The truth that stipend is providing grasp nodes will best appeal to greater interest. it got mine already! :)
Once more exceptional task and i love your writing. so easy to read and understand.
Totally agree, get a hardware wallet and stash your coins.......nat least a good %
Yes, I agree but the problem if someone is day trading then they will have to send the coins in and out of the exchange daily and pay fees, but if they are holding for long term then they should keep them in hardware wallet.
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I recently bought a Ledger Nano S.
It certainly makes you feel your crypto is more secure.
I will say it has a unique interface that will take a little getting used to, but once you have it's easy. The App interface is easy to use and has many popular coins. The other thing is that I understand they are no longer joint venturing with coins, so unless a coin has the resources to become compatible with the Nano S, you need a 3rd party app interface to get your coins on or off the device. I have Stellar Lumens and rather inconveniently need to use a seperate "account viewer" rather than the ledger app.
However overall it's great and once you get the hang of it very easy to use.
wow really nice post........................... please everyone one vote me