Bitcoin Forum

Hello everyone

I would like to know what is safer to store my erc20 tokens. Is it safer to have just a myetherwallet with the keystore file on usb and privatkey on paper or to have a ledger nano s?
Or is it practically the same?

Thanks in advance for your answer  :)

For me, both wallets are same as far you don't expose your private keys or keystore files.
Myetherwallet.com is a secure open source wallet, i have been using it since my first interaction with ethereum.
Just use myetherwallet with my surety but remember not to disclose your data ever.

cold storage is way better than the online wallets. there is no chance to get access to the cold storage. i my self store my keys into pen drive

I think hard wallet specifically made for that purpose is always greater than anything else. You can loose the USB itself loose the keystone files with it. So your MEW may get locked down in that way. For nano ledger you can at least take the back up  on drive and secure it with phrases and passwords. The offline thing can add the extra protection to your security of ERC20 token by not letting others to access it through online networking which is again dangerous for the MEW. So many phishing attempts has already made for the MEW and people have lost big amounts of money.




In the reality both are good and it depends on how you manage your back ups, codes, phrases and how you keep them secure. If thats the case then you are good to go with both of them otherwise you can always prefer the nano ledger.

For security purposes, its best to store your coins in an offline wallet with backed up private keys that only you have access to. By saying this, I don't mean MyEtherWallet is not secure, but since its an online wallet you can't trust it completely as we've had breaches with multiple online wallets in the past. Yet, MEW is also a highly secure wallet as long as your private keys aren't being given out in any fashion and it is much easier to access MEW since it is online.

 Using myetherwallet is very risky, because you can have a RAT on your pc and they can easily infect your pc and try to download your json (what you downloaded when you created your wallet)

So they can easily hack and go into your wallet if they have that file, just remember that MEW doesnt have security flags, it means that they would not block the wallet if someone from another IP joins to the wallet, or if they send funds without 2fa (because it doesnt have this feature)

That is why i prefer ledger nano, it is much more safer and there is no way that somebody can hack or stole your funds because you have to press a button to send the funds.

Both of them are good if you keep your private key safe enough. But MEW is a free wallet so you can use it if you don't wanna pay a big amount of money for coldstorage wallet like Ledger nano S. But with Ledger Nano S your token will be much safer than MEW, if anyone get your MEW private key they can easily access to your MEW wallet and stole all your token but with Ledger Nano S it's different, nobody can steal your token although they know the private key of your wallet cause when someone wanna withdraw token from Ledger Nano S they need to press the button on the USB stick :))

Thanks for your advice... I've just ordered Ledger Nano S and will use it. It seems to me that it is worth to pay some money to increase security of your wallet. It may no have sense if you have small amounts like 0.1-0.2 BTC, but in case you plan to invest in cryptocurrency more it looks like sound investment.