Must Read by Everyone - Securing your Crypto 2018

[cannycassiopeia]

nice article, enjoy your merit perhaps you can also mention the way you store your keys offliine, that's something I have been pondering recently. How many back ups to do and where to put them.

I have a lot of altcoins and tokens because I believe it's just the beginning of a multi-year bull market for crypto. The tech is so revolutionary that it's a no-brainer to invest at some of the most promising projects.

Now the problem is each of these tokens started with small or of little value. But after a year (from early 2017), they already amount to $100k plus. It's quite risky to leave them in an exchange or even on a single ETH wallet (because many are ETH tokens).

So basically, what I did is spread the risk or avoid putting all my eggs in one basket for a thief to steal. Imagine one slip up and all your wealth gone.

1. Use hardware wallets for the most valuable coins. (Trezor)
2. Never use those deterministic wallets for ETH and ETH tokens - a thief only needs to steal your 12 word seed and he has all the coins in all those addresses. Use independent addresses for each type of token.
3. I print out private keys on paper, split into two parts (so two pieces of paper), stored into two different locations.

Anyway, the key objective is to diversify security.

FYI, 2FA all your crypto-related email, the world is a more dangerous place than 5 years ago. And never never tell anyone you got hundreds of thousands dollars worth in your flash drive. You could also be robbed at gun point.

[omonuyak]

I was almost upload my private key on Google doc today in the place of my ethereum wallet but I thank God I discover early and correct it if not my tokens and ethereum could have been stolen. I will advise us to adhere to op recommendations in other to come out of the activities of scammers and criminals. Many people are loosing they private keys in the application they are summiting with the aim of joining signatures and bounty.

[cannycassiopeia]

I was almost upload my private key on Google doc today in the place of my ethereum wallet but I thank God I discover early and correct it if not my tokens and ethereum could have been stolen. I will advise us to adhere to op recommendations in other to come out of the activities of scammers and criminals. Many people are loosing they private keys in the application they are summiting with the aim of joining signatures and bounty.

Holy shit! Avoid submitting ETH addresses with tokens in them if you constantly join bounties. One slip up and bye bye coins. It's a hassle I know, but the consequences are bad. Just like riding a motorcycle without helmet.

[Renzarra]

b. For Ethereum and ETH tokens, a service like Metamask keeps your wallet encrypted in the browser, you can use it directly to send ETH or for tokens you can use it in tandem with MEW. It does not share private keys, only signed transactions.

[/quote]

You can use offline version of Myetherwallet too. It's very safe, but you need one offline computer and online computer.

[imsotiredofmoviereboots]

Security is very important but the ugly truth is, if technology on securities improves then hackers too.I can only suggest that hacking should have a heavy penalty so they will get discouraged.