You are viewing a single comment's thread from:

RE: VLOG 196: HARDWARE WALLETS ARE SCAMS

in #trevonjb7 years ago (edited)

Sorry dude...don't agree with this one AT ALL.
I believe the safest way to keep your private keys safe are in a hardware wallet where even you don't know them.
Even if your laptop/PC is infected with malware, my understanding is that the wallets are supposed to protect your private key info because they're stored on the wallets themselves and not copied or cached to the laptop/PC when you're making a transaction.

  1. Ensure your recovery password(s) are kept safe in a couple of places (think about using something like cryptosteel where your recovery phrase is etched in resistant metal) so if you need to configure another wallet to access your crypto accounts you can.
  2. Incorporate a 'duress' account on the wallet where you effectively keep your main crypto holdings in an account whose recovery is protected by one further password which you'll only ever remember in your head and a 'duress' account you can access in times of a brute force attack (e.g. man standing over you with a crowbar demanding crypto with menaces).