Safest ways to store crypto?

ComradeBernard

ComradeBernard

Newbie
Joined
Jul 20, 2024
Messages
43
Reaction score
33
I know that a physical USB hardware or something like that is the best way, but let's suppose they won't ship it to my country

And we know that exchanges are the devil and they can take, freeze, steal, block or do whatever they want with your money

What are the alternative safest ways to keep some thousands of dollars in crypto?
 
Advertise on BHW
MrT131 said:
I created a ranking for you. No. 1 is the most secure.

1. Cold Wallet (e.g. Trezor, Ledger)
2. Hot Wallet (e.g. MetaMask, Trust Wallet)
3. T1 Exchange (e.g. Coinbase, Kraken)
4. T2 and T3 exchanges (e.g. Binance, KuCoin)
Click to expand...
Really appreciate your time elaborating this list, seems realistic to me
 
MrT131 said:
I created a ranking for you. No. 1 is the most secure.

1. Cold Wallet (e.g. Trezor, Ledger)
2. Hot Wallet (e.g. MetaMask, Trust Wallet)
3. T1 Exchange (e.g. Coinbase, Kraken)
4. T2 and T3 exchanges (e.g. Binance, KuCoin)
Click to expand...
If you go the Hot Wallet route, remember that the seed phrase IS the wallet, so you should store that in a secure way. For example, a Keepass database
 
If you’re unable to get your hands on a cold wallet, then the best and most secure way to store crypto would be a paper wallet.

  1. Get a device that you know for sure has never been infected with malicious programs. Preferably even a brand new device that has never been connected to internet.
  2. Find a reputable (and open-sourced) paper wallet creation website that works offline.
  3. Connect your device to the internet and either use a VPN or Tor to connect to the website.
  4. Save the page as an .HTML file.
  5. Disconnect from the internet and reboot.
  6. Open the offline .HTML file and start the wallet creation.
  7. DO NOT print the created paper!
  8. Get a piece of paper and write everything necessary to it by yourself.
  9. Do 2 more backups.
  10. Store them securely.

Other option would be to just get a brand new phone that has never even been opened, and download a self-custody crypto wallet to it.
Then don’t ever again connect the phone to the internet and track your portfolio with another device by looking up your public address(es).
 
MrT131 said:
I created a ranking for you. No. 1 is the most secure.

1. Cold Wallet (e.g. Trezor, Ledger)
2. Hot Wallet (e.g. MetaMask, Trust Wallet)
3. T1 Exchange (e.g. Coinbase, Kraken)
4. T2 and T3 exchanges (e.g. Binance, KuCoin)
Click to expand...
I agree with this
 
I think the thing to do is to download the Trust or Metamusk app from some iphone, there you can also cloud save the recovery key, generally convenient! Of course, it's better to keep it on paper
 
Juhku said:
If you’re unable to get your hands on a cold wallet, then the best and most secure way to store crypto would be a paper wallet.

  1. Get a device that you know for sure has never been infected with malicious programs. Preferably even a brand new device that has never been connected to internet.
  2. Find a reputable (and open-sourced) paper wallet creation website that works offline.
  3. Connect your device to the internet and either use a VPN or Tor to connect to the website.
  4. Save the page as an .HTML file.
  5. Disconnect from the internet and reboot.
  6. Open the offline .HTML file and start the wallet creation.
  7. DO NOT print the created paper!
  8. Get a piece of paper and write everything necessary to it by yourself.
  9. Do 2 more backups.
  10. Store them securely.

Other option would be to just get a brand new phone that has never even been opened, and download a self-custody crypto wallet to it.
Then don’t ever again connect the phone to the internet and track your portfolio with another device by looking up your public address(es).
Click to expand...
First time reading about paper wallet...seems interesting, this idea of using a phone only for this purpose is nice as well, thank you
 
ComradeBernard said:
First time reading about paper wallet...seems interesting, this idea of using a phone only for this purpose is nice as well, thank you
Click to expand...

Read about paper wallets before you commit to it. They can only be used once. There is no "return" address on a paper wallet
 
ComradeBernard said:
I know that a physical USB hardware or something like that is the best way, but let's suppose they won't ship it to my country

And we know that exchanges are the devil and they can take, freeze, steal, block or do whatever they want with your money

What are the alternative safest ways to keep some thousands of dollars in crypto?
Click to expand...
The best place to store your crypto is in a cold wallet .
 
Juhku said:
If you’re unable to get your hands on a cold wallet, then the best and most secure way to store crypto would be a paper wallet.

  1. Get a device that you know for sure has never been infected with malicious programs. Preferably even a brand new device that has never been connected to internet.
  2. Find a reputable (and open-sourced) paper wallet creation website that works offline.
  3. Connect your device to the internet and either use a VPN or Tor to connect to the website.
  4. Save the page as an .HTML file.
  5. Disconnect from the internet and reboot.
  6. Open the offline .HTML file and start the wallet creation.
  7. DO NOT print the created paper!
  8. Get a piece of paper and write everything necessary to it by yourself.
  9. Do 2 more backups.
  10. Store them securely.

Other option would be to just get a brand new phone that has never even been opened, and download a self-custody crypto wallet to it.
Then don’t ever again connect the phone to the internet and track your portfolio with another device by looking up your public address(es).
Click to expand...
I'm curious, what's the use phone if you'll just another device to view the balances. Is it for the creation of the keys?
 
using hot wallets like Metamask will be a good solution, But make sure you don't login a third party website with metamask or hot wallet you choose. There are mid to high chances your assets might get stolen in near future. Also save your seed phrase of those hot wallets.
 
MrT131 said:
I created a ranking for you. No. 1 is the most secure.

1. Cold Wallet (e.g. Trezor, Ledger)
2. Hot Wallet (e.g. MetaMask, Trust Wallet)
3. T1 Exchange (e.g. Coinbase, Kraken)
4. T2 and T3 exchanges (e.g. Binance, KuCoin)
Click to expand...
Couldn't say it better :) Wraps up everything.
I will say that Hot Wallet is also Exodus.
 
A hot wallet not linked with any third part website + seed phrase saved in a safe place is secure enough for me
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top