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Author Topic: Which multi crypto wallet is safe for long term holding? Please read description  (Read 176 times)
Crypto.RichieRich (OP)
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August 13, 2018, 03:33:44 PM
 #21

Which multi cryptocurrency wallet is safe for long term holding that either stores private keys locally or gives users exclusive access to their private keys?

I am currently holding around 80 different cryptocurrencies in small amounts. I want to hold these coins for long term. Need a safe wallet where I will be able to store all my coins. As I have heard that servers where users' private keys are kept by wallets can be hacked, I want to hold my coins in a wallet which stores private keys locally or gives exclusive access of private key to the user (the one which doesn't store private key anywhere). I am not willing to spend money on hardware wallets. I am planning to store these coins on a desktop or a mobile wallet (or a wallet like metamask & myetherwallet). Planning to buy a new desktop or mobile which I will use only for the purpose of storing cryptos & will keep the device disconnected from internet until I want to sell my coins.
There are many options for you but I still recommend using Ledger Nano S which will be more effective as it can be considered as the safest wallet in the world at this moment and no one can penetrate into it. Personally I only give this advice because this is the safest way for you and me and hope you should have a better look at Ledger purses because it is really very safe and you do not need to do too many procedures on the computer

Thanks for recommendation Vitalicus!  Smiley

To be honest, I am not willing to spend on hardware wallets. Can you suggest me some alternatives?
Crypto.RichieRich (OP)
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August 13, 2018, 06:05:18 PM
 #22



Thanks for commenting Lucius!  Smiley

By what is stated at Exodus site it is possible to view private key for any address, so you can just copy/paste your private keys and store them in safe place. In case something happens to your device it is possible to import that keys on other device and restore your coins, read more here.

But much easiest way is to just write down 12 secret words (seed) which you get when create Exodus wallet, and then you have all you need in case you need it, read more here.

I read those guides & it seems to be very easy to access your funds from another device in case something goes wrong with the device you are using.

This should be good way of protecting your coins, but only in case you have clean device/there are many sophisticated attacks these days aimed to hack crypto coins on users PC. So you shoud be very careful when using your device, even if you using desktop wallet.

I am planning to buy a new PC (probably a netbook) or else as mentioned in the guide written by BQ (forum member), I can install linux on my current windows PC to do crypto stuff. If I buy a separate device for this then I will keep it disconnected from internet until I want to sell my holdings.


I know you have no intention to invest in hardware wallet, but for long term holding in my opinion it is best option. Private keys are always safe inside device, even if your device is compromised it will not affect security of your coins.

Yes I know that hardware wallets are the safest option available at present. Many other members as well have suggested me to get one. I will reconsider my decision of not buying a hardware wallet.
Crypto.RichieRich (OP)
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August 13, 2018, 06:09:47 PM
 #23

I wrote a guide about this subject, here is the thread.
I believe Ledger supports a few more coins than Trezor. I personally use a Trezor.
How can you be holding 80 cryptos? do you mean most are tokens?
Since they are 80 it's probably 80% of them are ERC2 tokens.
There is always good choices out there to store the ERC20 tokens though, Trezor & ledger & ...are one of them.

Thanks for replying  Smiley

Yes some of them are ERC20. BTW I don't want to spend on hardware wallets. Can you suggest me alternative options?



well you should consider a hardware wallet, it's far safer in general. your private key is never exposed. it's a worthy investment.
otherwise, you'll simply have to deal with multiple wallets, afaik there's not really one that supports everything and is completely digital based/free, since it involves a lot of work.

I will certainly reconsider buying a hardware wallet as a lot of forum members have suggested me to go that way.

Yes there isn't a single wallet which supports all the cryptos I hold.

Thanks once again. I really got to learn a lot from you.  Smiley
aebere40@gmail.com
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August 13, 2018, 06:10:02 PM
 #24

I quite agree with you on coinoomi.. i have had any issue of security since I started using it and it's really easy to use..
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