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Author Topic: Basic help Wallet  (Read 94 times)
alexandreodw (OP)
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December 22, 2017, 12:46:30 AM
 #1

Hello,
I have doubts about wallets, I have never used it, I have always left it on Exchage, but I want to migrate now, but I still have some doubts, I would like some help.
I have wallet preference, but I'm afraid to leave in Exchange, and so far wallet insurance would only be for BTC, LTC and ETH (Coinbase, Blockchain Wallet, Myetherwallet)

My coins: Verge, Aeternity and Siacoin, all have their own wallet, but I have some doubts:
1) Every time I get the updates of these portfolios and I'm not aware of this, if I fail to update some version, or do some kind of error occur at the moment of the update, can I lose my coins?
2) If there is a problem on my SSD and lose all data, is there any way to recover the coins?
3) Can I install the wallet an External HD?

Portfolios Hardware:
As far as I found, a reliable wallet would be the Ledger Wallet (But it does not support my coins):
1) Is there another portfolio in Hardware?
2) Is it really reliable?
3) Need Updates?

Portfolios Online:
1) Any danger of leaving on Exchange (even with 2-step verification and authorization to withdraw via email)?

General:
What is the safest way to store the coins?
beachbummer
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December 22, 2017, 01:57:54 AM
 #2

1) Every time I get the updates of these portfolios and I'm not aware of this, if I fail to update some version, or do some kind of error occur at the moment of the update, can I lose my coins?

Generally no, unless there is some major change to the coin. One case I know of was when Gridcoin moved from PoW to PoR/PoS. Holders who did not upgrade in time lost their coins.

2) If there is a problem on my SSD and lose all data, is there any way to recover the coins?

Not if you keep a backup copy of wallet.dat and/or the private key.

3) Can I install the wallet an External HD?

That should be possible.

Portfolios Hardware:
As far as I found, a reliable wallet would be the Ledger Wallet (But it does not support my coins):
1) Is there another portfolio in Hardware?
2) Is it really reliable?
3) Need Updates?


I am not sure about the answers for these

Portfolios Online:
1) Any danger of leaving on Exchange (even with 2-step verification and authorization to withdraw via email)?

There is always risk of leaving your portfolio on exchange. There is no such thing as 0% risk. Just the degree of probabilty and the impact. As with the recent EtherDelta case, the exchange security was probably solid, but the DNS poisoning managed to work around the security measures.

General:
What is the safest way to store the coins?

The "safest" will be a paper wallet, but that also depends where you keep the piece of paper because you are swapping online vulnerability for an offline vulnerability.

Probably the most practical and realistic approach will be a PC/Notebook that is regularly updated with OS and Antivirus updates.
Teraboy
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December 22, 2017, 02:03:22 AM
 #3

Hello,
I have doubts about wallets, I have never used it, I have always left it on Exchage, but I want to migrate now, but I still have some doubts, I would like some help.
I have wallet preference, but I'm afraid to leave in Exchange, and so far wallet insurance would only be for BTC, LTC and ETH (Coinbase, Blockchain Wallet, Myetherwallet)

My coins: Verge, Aeternity and Siacoin, all have their own wallet, but I have some doubts:
1) Every time I get the updates of these portfolios and I'm not aware of this, if I fail to update some version, or do some kind of error occur at the moment of the update, can I lose my coins?
2) If there is a problem on my SSD and lose all data, is there any way to recover the coins?
3) Can I install the wallet an External HD?

Portfolios Hardware:
As far as I found, a reliable wallet would be the Ledger Wallet (But it does not support my coins):
1) Is there another portfolio in Hardware?
2) Is it really reliable?
3) Need Updates?

Portfolios Online:
1) Any danger of leaving on Exchange (even with 2-step verification and authorization to withdraw via email)?

General:
What is the safest way to store the coins?

1 You will not lose anything if you fail to upgrade it to the latest version. As long as you are back up all of your data. I think some coin will have the more security measures.
2 For some coin just like ethereum and you will be able to recover your amount through the privatekey. but i don't know what already implemented in the verge, sia or aeternity.
3 I just use External HD to save all of my coins. It looks possible .

About your portfolio hardware
1 What do you mean about portfolio hardware? To manage your portfolio and you can try to use blockfolio. But that's just a simulation and not to keep your real amount.
2 If you meant about the hardware wallet and trezor could be another choice but it does not support all of your coins.

So many online wallets that have a lot of problems. you can try to search the more through your internet. Use online wallet just like use exchange site, but that will be different if you are keeping your private key.
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