10-31-2020, 04:57 PM
PSA: Get a hardware wallet ASAP, you will be super happy you did.
<!-- SC_OFF --><div class="md"><p>Finally moved my crypto/keys to a hardware wallet. Feels amazing. One of the best investments of 2020.</p> <p>This is gonna be a bit long winded, but worth the read if you are considering investing in a cold wallet. I will provide as much info of my experience as possible to help you make a decision on if it is the right choice for your cryptocurrency. So this is basically for newbies or people on the fence about investing in a cold/hardware wallets. Fucking do it; for your peace of mind, control, accomplishment, and privacy. The benefits outweigh any laziness or fears you may have as I did.</p> <p>For the longest time I kept my funds and crypto between exchanges as I traded a lot and was lazy + nervous about the difficulty attempting to put all my crypto on a cold wallet. I had opted for the Trezor T a couple months ago and hadn't unboxed it left it on my desk. That is where it stayed collecting dust until last night I said fuck it...I need to do something about this, the government approved regulated sites and unregulated exchanges should not have full control of my funds or crypto at all. I should.</p> <p>I had originally opted to purchases the Trezor T months ago; after researching options. I believe it is the best option in terms of innovation, user friendly function especially with the touch screen. The associated software and set up is so easy a child could do it. They also offer a new security standard called " Shamir Backup <a href="https://trezor.io/shamir/">https://trezor.io/shamir/</a> " which adds even extra layers of security; as an example you can have 3 fragments of a seed phrase, give 2 of them away, one to a friend and one to a family member, then keep one for yourself. Say that friend becomes a massive asshole and wipes his asshole with his part of the seed phrase card then burns it - you still have the option of using the 2 that are left, successfully. You can have up to 16 of these things and choose your threshold. That's the rough idea of how it works.</p> <p>I opted for the OG single recovery seed because I am a recluse, and have no friends. Anyway, the 2 seed phrase cards that come with the Trezor T system help, I actually filled them both out, vacuum sealed and laminated them - hid them in places where they are safe and I feel I have no worries about losing access to them. Another couple cool things about it. Comes with a USB-C, It has an SD slot for potential future encryption storage (not really sure it does anything yet). It also comes with a really awesome magnetic backing addon so you can slap it on the fridge, under desk or chair, on the inside of a safe, the side of a bus if you like jogging for stupid reasons.</p> <p>I still plan to hold a bit of currency on my exchange for trades and buying things so there is nothing wrong with both. But I can say you will feel really good about giving yourself full control of your crypto. Even though the Trezor T is a bit more expensive but its totally worth it compared to the some of the other options (in my personal opinion) some devices have had history of security issues and flaws and may be a bit more clunky. </p> <p>Adding a crypto-steel backup to your arsenal may be a good idea too incase of flood, fire, rust, a dog trying to eat it etc... ( I plan to do this eventually. Not eat one. but buy one)</p> <p>I used to scoff at the adage "nOt YoUr KeYs NoT YoUr CoInS!" but those people are 100% correct. Listen to them. There is so much risk not being in full control of your crypto. Exchanges often get hacked, mismanaged, exit scammed, account locked, account hacked, government shutdowns, some people have even been banned from exchanges and lost everything. To put things in perspective there are only a handful of really trustworthy exchanges around today. over <strong>43 bitcoin exchanges as of 2020</strong> have become lost in time, like tears in rain. Some of these exchanges were beloved and popular. The point being; no exchange is infallible.</p> <p>Take control of your crypto asap. There is a lot of bad shit going down and with the elections and the covid situation being worse than the beginning of the outbreak, now is the time to protect yourselves, your families and things that really matter.</p> <p>*drops magnetic Trezor T on mic and trips off stage*</p> <p>Edits: I also did not intend to bash the Ledgers like the nano etc. (my original choice was the Ledger nano S). They are great choices and have their own benefits like how discreet, simple, afforadabile they are just to mention a few. </p> <p>The learning curves and continual advancements their teams have made, benefited the tech a lot. The fear mongering "hacks", brute force and wrench attacks stories heard in the media are rare and these devices get patched and updated fairly often. The creators and engineers behind all of these devices are great people who make awesome products. Regardless which you choose to support, the important thing is you do it for yourself, to have full control and power over your investments. The hardware options like the Ledger or the Trezor are some of the best tried and true devices on the market today.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>Finally moved my crypto/keys to a hardware wallet. Feels amazing. One of the best investments of 2020.</p> <p>This is gonna be a bit long winded, but worth the read if you are considering investing in a cold wallet. I will provide as much info of my experience as possible to help you make a decision on if it is the right choice for your cryptocurrency. So this is basically for newbies or people on the fence about investing in a cold/hardware wallets. Fucking do it; for your peace of mind, control, accomplishment, and privacy. The benefits outweigh any laziness or fears you may have as I did.</p> <p>For the longest time I kept my funds and crypto between exchanges as I traded a lot and was lazy + nervous about the difficulty attempting to put all my crypto on a cold wallet. I had opted for the Trezor T a couple months ago and hadn't unboxed it left it on my desk. That is where it stayed collecting dust until last night I said fuck it...I need to do something about this, the government approved regulated sites and unregulated exchanges should not have full control of my funds or crypto at all. I should.</p> <p>I had originally opted to purchases the Trezor T months ago; after researching options. I believe it is the best option in terms of innovation, user friendly function especially with the touch screen. The associated software and set up is so easy a child could do it. They also offer a new security standard called " Shamir Backup <a href="https://trezor.io/shamir/">https://trezor.io/shamir/</a> " which adds even extra layers of security; as an example you can have 3 fragments of a seed phrase, give 2 of them away, one to a friend and one to a family member, then keep one for yourself. Say that friend becomes a massive asshole and wipes his asshole with his part of the seed phrase card then burns it - you still have the option of using the 2 that are left, successfully. You can have up to 16 of these things and choose your threshold. That's the rough idea of how it works.</p> <p>I opted for the OG single recovery seed because I am a recluse, and have no friends. Anyway, the 2 seed phrase cards that come with the Trezor T system help, I actually filled them both out, vacuum sealed and laminated them - hid them in places where they are safe and I feel I have no worries about losing access to them. Another couple cool things about it. Comes with a USB-C, It has an SD slot for potential future encryption storage (not really sure it does anything yet). It also comes with a really awesome magnetic backing addon so you can slap it on the fridge, under desk or chair, on the inside of a safe, the side of a bus if you like jogging for stupid reasons.</p> <p>I still plan to hold a bit of currency on my exchange for trades and buying things so there is nothing wrong with both. But I can say you will feel really good about giving yourself full control of your crypto. Even though the Trezor T is a bit more expensive but its totally worth it compared to the some of the other options (in my personal opinion) some devices have had history of security issues and flaws and may be a bit more clunky. </p> <p>Adding a crypto-steel backup to your arsenal may be a good idea too incase of flood, fire, rust, a dog trying to eat it etc... ( I plan to do this eventually. Not eat one. but buy one)</p> <p>I used to scoff at the adage "nOt YoUr KeYs NoT YoUr CoInS!" but those people are 100% correct. Listen to them. There is so much risk not being in full control of your crypto. Exchanges often get hacked, mismanaged, exit scammed, account locked, account hacked, government shutdowns, some people have even been banned from exchanges and lost everything. To put things in perspective there are only a handful of really trustworthy exchanges around today. over <strong>43 bitcoin exchanges as of 2020</strong> have become lost in time, like tears in rain. Some of these exchanges were beloved and popular. The point being; no exchange is infallible.</p> <p>Take control of your crypto asap. There is a lot of bad shit going down and with the elections and the covid situation being worse than the beginning of the outbreak, now is the time to protect yourselves, your families and things that really matter.</p> <p>*drops magnetic Trezor T on mic and trips off stage*</p> <p>Edits: I also did not intend to bash the Ledgers like the nano etc. (my original choice was the Ledger nano S). They are great choices and have their own benefits like how discreet, simple, afforadabile they are just to mention a few. </p> <p>The learning curves and continual advancements their teams have made, benefited the tech a lot. The fear mongering "hacks", brute force and wrench attacks stories heard in the media are rare and these devices get patched and updated fairly often. The creators and engineers behind all of these devices are great people who make awesome products. Regardless which you choose to support, the important thing is you do it for yourself, to have full control and power over your investments. The hardware options like the Ledger or the Trezor are some of the best tried and true devices on the market today.</p> </div><!-- SC_ON --> Kind Regards R