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Author Topic: ❗❗ Friendly Reminder: SECURE. YOUR. ASSETS.  (Read 284 times)
cryptosec.info
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July 19, 2018, 11:08:13 AM
 #1

[Friendly Reminder]





While waiting for the market bull run, first make sure that your bitcoin/cryptocurrency investments are actually secure. Always remember:

NOT YOUR KEYS, NOT YOUR COINS



If you're still using services like Coinbase to store majority of your coins, you could possibly lose your investments(not an exaggeration). Sure, we respect Coinbase for their service, but Coinbase is NOT hack-proof. NOTHING in general is 100% secure, especially for a centralized system. People in the past probably thought that MtGox was also actually "secure" enough, well guess what happened?

You're significantly decreasing the chances of your crypto getting stolen when using a well-made paper wallet or a hardware wallet.

Some reputable hardware wallets:





-


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July 19, 2018, 11:13:29 AM
 #2

This is true. Recent hackings are from exchanges. Storing coins in a hardware wallet or paper wallet would be the best bet. My advice is when using exchanges deposit in exhanges, do your transaction then withdraw as soon as you have finished.
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July 19, 2018, 11:18:57 AM
 #3

Thank you, People really should start using Hardware Wallet.

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cryptosec.info
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July 19, 2018, 01:11:17 PM
 #4

This is true. Recent hackings are from exchanges. Storing coins in a hardware wallet or paper wallet would be the best bet. My advice is when using exchanges deposit in exhanges, do your transaction then withdraw as soon as you have finished.

Pretty much. The only excuse for leaving funds on exchanges are if you are trading, or are setting up stop losses.

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July 21, 2018, 06:33:35 AM
 #5

Which would you recommend better? The Ledger Nano S or the Trezor?
Awesomus Maximus
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July 21, 2018, 06:47:49 AM
 #6

Which would you recommend better? The Ledger Nano S or the Trezor?
Already discussed before. You may check, for example, this post:

https://bitcointalk.org/index.php?topic=2552485.0

In my opinion, even better is a properly configured air gapped computer:

https://bitcointalk.org/index.php?topic=2828437.0
cryptosec.info
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July 21, 2018, 04:17:23 PM
 #7

Which would you recommend better? The Ledger Nano S or the Trezor?
Both are great. It just comes down to personal preference. With the new Ledger Live software, I'd probably go with Ledger, personally.

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July 21, 2018, 04:39:18 PM
 #8

This is really a good advise to avoid regrets because when price starts to appreciate, hackers would start being nose sniffing. The earlier the better.

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July 21, 2018, 04:46:31 PM
 #9

Yes, I admit that the hardware wallet is the most powerful wallet. 1 year I use Ledger Nano no complaints at all.
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July 22, 2018, 06:50:14 AM
 #10

That's true. Nothing is secured. We have be very careful to take further steps. Hardware wallets are doin great great to secure coins. Trexor and Ledger Wallets are considered to be the best wallets of all.
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July 22, 2018, 12:15:47 PM
 #11

In recent time exchange performance is not good that’s why so many hackings are occurring from here. So you can use hardware or software wallet for keep safe your coins. After finished the transaction you need to withdraw it.
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July 22, 2018, 12:20:46 PM
 #12

Who uses coin base anyway I'm sure people have become aware of how exchanges take their money and then don't return it, I was lucky enough to move out long back and didn't fall to these exchanges trap, they only make a fool out of you and charge exthorbition prices. I hope op post will once remind people to stay away from exchange.

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July 22, 2018, 12:48:46 PM
 #13

What about software wallets? If you have an old notebook collecting dust you could repurpose it and use it as a hack-proof offline wallet. You don't need to splash the cash on these hardware wallets when there are free alternatives like BitKey which is a secure live Linux distro that can run from a USB stick or a CD and provides security similar to hardware wallets. Hardware wallets are more convenient though, because they offer a complete package that needs minimal configuration by the end user and are portable, but they are not the be-all and end-all of crypto wallets.

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July 22, 2018, 12:58:32 PM
 #14

Yes. Wallet's security is the most important factor for any cryptocurrency user. We have seen lot of hackers and scammers using various techniques to steal your cryptocurrency.

Apart from OP's suggestion I would like to tell that we should not give wallet's Private key to any person and we should triple check the websites we are visiting to prevent from phishing and scamming attempts. 
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July 22, 2018, 02:19:34 PM
 #15

Who uses coin base anyway I'm sure people have become aware of how exchanges take their money and then don't return it
Well, then you're hugely underestimating the carelessness of people. Especially on social media sites, lots of people are still storing their investments on apps like coinbase and the binance app, just because it's very convenient; not taking in to consideration the risks.

What about software wallets? If you have an old notebook collecting dust you could repurpose it and use it as a hack-proof offline wallet. You don't need to splash the cash on these hardware wallets when there are free alternatives like BitKey which is a secure live Linux distro that can run from a USB stick or a CD and provides security similar to hardware wallets. Hardware wallets are more convenient though, because they offer a complete package that needs minimal configuration by the end user and are portable, but they are not the be-all and end-all of crypto wallets.
I completely agree. Though you also need to take in to consideration the people who are barely experienced with computers. I'm pretty sure a good percentage of people invested in the cryptocurrency space doesn't know how to install OS's on flashdrives.

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July 22, 2018, 02:21:30 PM
 #16

Yes this is really alarming and specially after few hack that took place within very short time. For these I always prefer hardware wallet and this gives you the maximum security. And yes, Ledger Nano and Trezer both are reputed hardware wallet.

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July 22, 2018, 02:27:47 PM
 #17

NOT YOUR KEYS, NOT YOUR COINS

This is quite TRUE. From a year of diving into bitcoin and cryptocurrency. This is what i can say the golden rule that i learned. The only thing you can trust is yourself. And also don't just let anyone know how much cryptocurrencies you held this might cause a threat to your life.

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July 23, 2018, 07:57:01 PM
 #18

It’s impossible to hack crypto system but you wallet can be hack that is why when choosing a wallet that time we need to choose good and secure wallet for avoid hacking also you should not share your private keys or any types of password with anyone.
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July 23, 2018, 09:53:30 PM
 #19

I see the quote from the FBI director and think about all the people that are sending their Passports and government ID's over the internet to win a few free tokens that are most likely to be worthless.  KYC is going to get a lot of people in big trouble in the future.  I'm waiting for the post telling us the terrible details.

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July 23, 2018, 10:11:16 PM
 #20

[Friendly Reminder]





While waiting for the market bull run, first make sure that your bitcoin/cryptocurrency investments are actually secure. Always remember:

NOT YOUR KEYS, NOT YOUR COINS



If you're still using services like Coinbase to store majority of your coins, you could possibly lose your investments(not an exaggeration). Sure, we respect Coinbase for their service, but Coinbase is NOT hack-proof. NOTHING in general is 100% secure, especially for a centralized system. People in the past probably thought that MtGox was also actually "secure" enough, well guess what happened?

You're significantly decreasing the chances of your crypto getting stolen when using a well-made paper wallet or a hardware wallet.

Some reputable hardware wallets:





-



Yes.We can't say,any wallet is 100% secured.Because many wallets had faced the hacking issue.The only solution to save your bitcoin is secure it with some security setup.I had using coinbase from long,still now I don't have any hacking issue.Coinbase is linked with mail id, it's hard to access your wallet without your mail id access.
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