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Author Topic: How to store different altcoins?  (Read 361 times)
Robdny
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September 04, 2017, 12:59:01 PM
 #1

 I'm very new to this I have bought through Coinbase and now buying through bittrex altcoins.
 In general not a lot of money everything is still on the exchanges.  I'm trying to do my research on ledger nano s-
Each Côin has its own wallet.  Just trying to figure out is there a place to store all of them safely not all of them are compatible with the same thing from what I can figure out.  I'm going to be holding all these long term here of the coins that I own.   I am not the best with computers this is not what I do for a living but it is very interesting and I'm trying my best I appreciate all your help.
 I also have a PC that it off-line unless I'm buying or selling coins if this helps

Ethereum
Siacoin
Ripple
Waves
Stratis

 Most likely buying more once I get figured out what I'm doing
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September 04, 2017, 01:11:12 PM
 #2

There are some multiwallets. But most of them doesn't provide private keys from your wallets. So it's pretty risky to store them there. I have pretty diversified portfolio and I like safety. That's why I decide to store my coins at cold storage (flash drive) on separate wallets wich provide private keys. Moreover I have encrypted with 50+ characters password backup at my mail. Also I'm using Dashlane to manage passwords and wallets addresses/keys.


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Robdny
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September 04, 2017, 03:58:37 PM
 #3

I'm also looking to GitHub it looks like it can hold ripple, waves and stratis
But not siacoin.  What are you think about using that? Does that end up using a key?
Lionfortis178
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September 04, 2017, 04:09:41 PM
 #4

There are multiwallets indeed (eg Jaxx) but its not recommended to use them.
For ethereum I use myetherwallet and for my other altcoins I have a different wallet for each and store the passwords/phrases on paper in different locations. I also have backups of my wallets on multiple devices.
A storage manager like the nano ledger looks really good and safe but is a little expensive imo, you can get the same security if you know what you're doing with different wallets.
I suggest you read in about the different wallets for the different coins and make sure you take all the safety precautions that are listed.
Github I don't really use so I don't know much about their value.

[ (https://deeponion.org/apply.php?ref=1131211)
bassong
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September 04, 2017, 05:11:31 PM
 #5

There are multiwallets indeed (eg Jaxx) but its not recommended to use them.
For ethereum I use myetherwallet and for my other altcoins I have a different wallet for each and store the passwords/phrases on paper in different locations. I also have backups of my wallets on multiple devices.
A storage manager like the nano ledger looks really good and safe but is a little expensive imo, you can get the same security if you know what you're doing with different wallets.
I suggest you read in about the different wallets for the different coins and make sure you take all the safety precautions that are listed.
Github I don't really use so I don't know much about their value.

Be careful with jaxx, a vulnerability in the Jaxx wallet lead to about $400,000 funds being hacked. Basically, users should refrain from storing substantial amounts of cryptocurrency in these type of wallets.
Lionfortis178
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September 04, 2017, 05:18:26 PM
 #6

There are multiwallets indeed (eg Jaxx) but its not recommended to use them.
For ethereum I use myetherwallet and for my other altcoins I have a different wallet for each and store the passwords/phrases on paper in different locations. I also have backups of my wallets on multiple devices.
A storage manager like the nano ledger looks really good and safe but is a little expensive imo, you can get the same security if you know what you're doing with different wallets.
I suggest you read in about the different wallets for the different coins and make sure you take all the safety precautions that are listed.
Github I don't really use so I don't know much about their value.

Be careful with jaxx, a vulnerability in the Jaxx wallet lead to about $400,000 funds being hacked. Basically, users should refrain from storing substantial amounts of cryptocurrency in these type of wallets.


Yes I know, should have made that clear I guess. Too bad, one wallet to hold them all would be great.

[ (https://deeponion.org/apply.php?ref=1131211)
laxinternational
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September 04, 2017, 05:20:37 PM
 #7

I think it's a typo, Saicoin, should be siacoin. Well, if you trust exchanges, you can store them on bittrex by using 2fa, google authenicator. This will provide you a high security while you're carrying your phone. The only risk here is bankrupt of bittrex.
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September 04, 2017, 06:45:02 PM
 #8



There are some multiwallets. But most of them doesn't provide private keys from your wallets. So it's pretty risky to store them there. I have pretty diversified portfolio and I like safety. That's why I decide to store my coins at cold storage (flash drive) on separate wallets wich provide private keys. Moreover I have encrypted with 50+ characters password backup at my mail. Also I'm using Dashlane to manage passwords and wallets addresses/keys.



Yes USB wallets come very handy too and they are getting most reliable source of storing your coins. If you have long term plans of saving your coins then this is the best hardware wallet for you. You can buy them easily in the market and even available on the amazon. The reason to save them on this kinda wallet is simple, you keep it safe from the online network which connected somehow to every digital devices. As long as your wallet is offline no one can touch it except yourself. It is always great to use wallets with private key access. The coinbase which you are using currently is holding your private key and they dint give it to you. That's risky for big amounts storage.



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anami57
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September 04, 2017, 07:14:00 PM
 #9

I think, that's not too much. Because i hold about 14 altcoins that i save on each wallet on pc. And there's no problem until now. I haven't planned to buy another altcoin, because it's quite a hassle. Altough, if converted altcoin that i save in wallet no more than 1.2btc only.

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September 04, 2017, 07:43:45 PM
 #10

If you don't have the private key of the wallets/addresses then I think that it doesn't worth using that wallet because your money aren't 100% yours and you are directly depended from that provider and whatever happens to them i.e any hack they won't compensate you!! Install the wallet of each coin you use and stay safe!

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