ese
Safely storying your Cryptocurrencies
An early adopter in Bitcoin named John had 200 bitcoins on his wallet. The problem he had he didn't know where his wallet was, because he had lost his phone. His wallet was on his phone so he couldn't reach his coins anymore. He took his loses and bought some more bitcoins on a exchange and left them there. What do you think you get scammed and lost his bitcoins again. John has no money left now and lives with his mother, don't be like John be smart!
Different kind of wallets
- Desktop wallet
- Hardware wallet
- Paper wallet
- Hot wallet
1. Lets dive into the first one. Desktop wallets a desktop wallet is considered somewhat more secure than both an hot wallet and paper wallet, however that depends on your commitment to online security. In cases where you use an older laptop, completely offline, on a clean operating system install –you could consider this a really effective cold storage method. Like phones, most people have an older laptop floating around and this could be a great use for it.
My opinion: Desktop wallet are really helpfull if you have a clean computer with no malware. If you are not sure about this don't use this option. I can hear you asking which software wallet should i use then Bartcardi?
I would recommend one of those two. Just because they have been around the longest and have gotten a reputation of high security. Which means your crypto is in safe hands!
2. The second one is a hardware wallet. The most simple explanation of this that it is stored ofline so nobody can touch it. This means a couple of things first of all a hacker can't steal it! If you buy a hardware wallet you will get some kind of usb that uses a certain software so your private keys are encrypted ofline. You have to set a password and you will get secuirity code, but if you lose those you lose your coins. Most of the coins are decentralized so there is no safety net! Your own money your own responsibilty.
My opinion: Hardware wallet are the best wallets because of maximum security. This way you will always know where they are and it will be unlikely to lose them. Let me point out the best ones again.
These are simply the most advanced wallets and you will find any better hardware wallet. My only tip is look out for fishing sites. Some people create sites just like a real site and u will get a ponzy product and lose your coins. Be on the lookout of that!
3. The third one i will cover here is a paper wallet. A paper wallet has a goal to keep your private key safe just like any other wallet. If you create a account on a paper wallet u will create new keys that u have to keep safe on paper. So no one else can see your keys and find it. U have to write it down somewhere and don't lose it. Don't lose it!
Myetherwallet is the only i would recommend. Just because this site has a great reputation and is known for great costumer support. They will also support hardware wallets to hold erc20 tokens. Some hardware wallets haven't got a wallet for these tokens so Myetherwallet provides these.
4. Last but not least a Hot wallet. A hot wallet is called this way because you will store you coins online. Hot wallets are being used in exchanges, because u can trade your coins while in your wallet. It is connect to the internet so the secuirity isn't great. U also have the problem that the exchanges also have your private key. So they can just take your coins. In some exchanges this is equal to putting your money in the pocket of a thief. The trick is to find well known and secure exchanges.
Coinbase hot wallet is the only wallet i can recommend. Simply because this is the only company that is wel trusted among the crypto community. If you do want to trade on exchanges thats fine, but don't store your money there!
Tip of the day: Keep your money safe and well in a hardware wallet. This way u will almost never lose your coins and won't hate yourself for losing them!
Disclaimer: Pictures aren't mine
Written and created by Bartcardi
Check out my profile Bartcardi!
Don't forget to upvote, follow and resteem!
DISCLAIMER: dropahead Curation Team does not necessarily share opinions expressed in this article, but find author's effort and/or contribution deserves better reward and visibility.
to maximize your curation rewards!
with SteemConnect
Do the above and we'll have more STEEM POWER to give YOU bigger rewards next time!
News from dropahead: Bye bye 25+ and 50+! Welcome 20+ 40+ and 60+!
Quality review from the dropahead Curation Team
According to our quality standards(1), your publication has reached an score of 85%.
Well said Gabriel García Marquez: "You learn to write by writing" Keep trying, you will soon achieve excellence!
(1) dropahead Witness' quality standards:
- Graphic relation to the text (Choice of images according to the text)
- Organization and coherence
- Personal sense of the text (Logic, complexity, understanding, what makes it interesting for the reader)
Your post resteemed and upvoted by @yusifm
Send 0.05 SBD to @yusifm for an Resteem+upvote . Just your link in memo section with payment. Premium-send 1 sbd for unlimited resteem(30 day)Plz follow me
Thanks @yusifm https://steemit.com/free/@safetony/free-crypto-kitty-giveaway
@originalworks
The @OriginalWorks bot has determined this post by @bartcardi to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
This post was resteemed by @steemvote and received a 39.95% Upvote
This post has received a 0.31 % upvote from @drotto thanks to: @banjo.
Thank you for explaining all the processes its really useful.
Thank you for taking the time to comment
Thanks a lot to share this post about different way to safe crypto money.
Happy to help!
This post was upvoted and resteemed by @resteemr!
Thank you for using and supporting @resteemr
@resteemr is a low price resteem service.
Check what @resteemr can do for you. Introduction of resteemr.
Good information , I learned a lot. Thanks for sharing it.
Appreciate your comment steemian!
Hacking is very dangerous Bitcoin not hacking but good post brother👏👍
Thanks for the comment always appreciated!
super valuable information for anyone getting into crypto for any length of time because sooner or later things happen and you don't wanna lose it!
good information, ypvote you dear
voted by 0.047
and resteemed to 580 followers by red rose
Hi and happy new year 2018
why you are shy my friend,
send to me more fees such as 0.02, your writings are so good that you can increase your votes with full trust that you will reach reputation of 60 very fast
the more you help me by sending more votes the more you will be near 60 level
see a big example @ankarli in my wallet, she is daily sending many posts to me to be voted and she jumped from 39 to 58 in 1 month.
the more you send sbd the more my 53 pwer will help you
voted and resteemed by red rose
THANK YOU FOR WAITING ME TO BUILD UP MORE POWER - YOUR POST IS BEING UP VOTED NOW AND RESTEEMED.
I APOLOGIZE FOR THE DELAY
good work
come again
vote of value
thank you