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Author Topic: Stupid or Not  (Read 504 times)
proTECH77
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November 02, 2022, 08:43:56 PM
 #61

I don't think, is advisable for someone to start changing his or her wallet every month, because it will not add any income into your wallet than to wast your time and energy and even put you in risk if you forget the new wallet seed phrase your transfer the coins to without writing them out.

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November 02, 2022, 09:22:45 PM
 #62

Changing wallets is a waste of time. The same thing with changing addresses within a wallet. Some people say that reusing the same address is a security risk but I've been using same addresses for years and it's the same thing with the same wallet. I had core for 2 years then switched to Electrum and had that for another 6.
Don't tell that guy that he's wasting time OP and a year or 2 from now ask him how many wallet changes he did and how many hours of his time are now lost forever Cheesy

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November 02, 2022, 10:50:43 PM
 #63

The biggest risk is the chance of getting the private key or seed phrase mixed up. In the course of moving the coins across different wallets it might result to forgetting to update the most recent seed phrase or private key in a documentable device and will definitely lead to permanent loss. Maintaining a single wallet address so far it is a cold wallet both keep the coin safe and also reduce the risk of losing access into wallet, coin and tokens as long as the private key is kept secure
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November 02, 2022, 11:45:50 PM
 #64

This isn't my idea 💡

A friend and I were discussing crypto yesterday and he said he always change from one wallet to another every month, he said the highest he have used a crypto wallet is two months, he always transfer all is coins and tokens from a wallet to another new created wallet in a month or two...imagine the stress 😆😆

I told him the risk still persists, you have to keep the phrase safe still but other friends of his are saying its good idea..this is why I decide to hear from the bitcointalk audience, what do you think.

What kinda risk is that?? Isn't he aware that there are times you'd just get cut up with so much on your mind that you forget your passphrases?? Which is which? (That'll happen if you're a type that loves documentations though but, how TF would you keep those random words  tied to your cerebellum? Expecting to remember 'em each time you feel like doing the same shit?)? So he might still get the whole thing mixed up.
Changing wallets every month won't help get rid of hackers, will it? Neither is it gonna stop his friends from hijacking those funds (if they felt like). The point is: keeping things safe and confidential is not just everyones' thing yunno....some peeps are really bad at that but I'm afraid, that'll be the only way out... Else he's just finally gonna loose-up -- to the point that he'll mix things up so, you should do well to advise 'em on that.

Sandra 💇

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