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Author Topic: I'm worried about the safety of my tokens and coins  (Read 253 times)
Fivestar4everMVP
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May 04, 2022, 08:46:53 PM
 #21

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.
It's a good move man, nothing beats security and one can never be too careful, it makes no sense to make all the money and end up loosing it to hackers due to lack of security.

There are several hardware wallets out there in the market that are really great and highly secure,  I believe a simple search will sure give you an idea of what you want, but then again, you can turn your smart phone into a hardware, a strong one at that, its a simple process, all you have to do is get an old smartphone, download the wallet software of choice, it could be metamask or trust wallet, get your coins and tokens in there, get the sim out of the phone, turn off the wifi, turn off the phone, if the battery of the phone is detachable, remove the battery from the phone and keep it in a safe place, you have not just made a hardware wallet for yourself, but also, you have just got your coins and tokens into one of the safest cold  storage wallet, as long as you keep it safe, this wallet is unhackable.

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May 04, 2022, 09:22:41 PM
 #22

There are several hardware wallets out there in the market that are really great and highly secure,  I believe a simple search will sure give you an idea of what you want, but then again, you can turn your smart phone into a hardware, a strong one at that, its a simple process, all you have to do is get an old smartphone, download the wallet software of choice, it could be metamask or trust wallet, get your coins and tokens in there, get the sim out of the phone, turn off the wifi, turn off the phone, if the battery of the phone is detachable, remove the battery from the phone and keep it in a safe place, you have not just made a hardware wallet for yourself, but also, you have just got your coins and tokens into one of the safest cold  storage wallet, as long as you keep it safe, this wallet is unhackable.
That is when you can't really afford to buy a hardware wallet.

It's also the same with what I've seen before about making use of old laptops and desktops and you'll not going to connect them to the internet for a long time.

As it will serve as your hardware wallet, it's actually a good alternative if you still can't buy your own hardware wallet. But, it's much better to own one and have your money be part of its budgeting.



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Rainbot
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May 04, 2022, 09:29:40 PM
 #23

I suggest you read the "glacier protocol" to get a basic idea of how a cold wallet works and what are all the features that make a wallet safe. Its related to Bitcoin but It can be adapted to any coin.
you don't need a hardware wallet. The beauty of cryptocurrencies is also the simplicity with which you can keep them Wink

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May 04, 2022, 10:42:51 PM
 #24

I have a few coins and tokens in my wallet since 2021 and I do make some good profits from new tokens e.g shiba inu but now I'm starting to get worried because my coins and tokens are growing in numbers, their safety is now bugging my mind, the more tokens the more USD worth now I don't think I can rely on smartphone wallets anymore, what is the best hardware wallet I can buy? I mean the very best, if its going to cost a lot I will still buy it, I want my mind at rest.
Just do the very best thing which you think was right. The cost of security seems expensive but it is also worth it especially if you hold a huge amount of valuable coins there. We have to think about security as in this internet era and having new technologies we never know when these hackers will attack us, we'd better anticipate the situation before it is getting late.

Thus, if you need peace of mind, the use of an offline wallet is the best option.

R


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