Lucius
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June 10, 2023, 10:37:20 AM |
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Hardware Wallet is the safest device to store your crypto because it can be considered an air-gapped device. Electrum is also safe if you knew exactly how to protect your private key/seed phrase. ~snip~
There are HW that are really airgapped and for communication with online wallets they use QR codes or SD cards, but most such devices cannot be called by that name because sooner or later they have to be connected online, whether it is firmware or coin app updates. A regular old laptop turned into an airgapped device is safer than any HW you can buy today, assuming you do everything right. Electrum as a hot wallet can be safe, but I would never recommend that such wallets be used by those who have a low level of security on their devices, whether it is personal computers or smartphones. Any crack, torrent or something similar that is downloaded online to such a computer may contain malware/keylogger or RAT (remote access trojan), and then the attacker has full access to everything on such a computer.
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un_rank
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June 10, 2023, 10:43:26 AM |
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Electrum caters to both mobile and PC platforms, so you can enjoy a high level of security even while on the move. If you still feel the need for extra security measures, you can enhance it by utilizing popular hardware wallets such as Trezor, Ledger, and others.
Ledger is a poor option for a hardware wallet. If you feel the need to enhance electrum's security, you should get a spare device that will form your offline, cold storage (air-gap). It is safer than a hardware wallet. - Jay -
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White billionaire (OP)
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June 10, 2023, 02:17:22 PM |
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I think I’ll use electrum then do more research on Trezor as I can’t afford an hardware for now.
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Yatsan
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June 10, 2023, 02:51:02 PM |
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Well, there will always be a risk. Choosing a hardware wallet would make it prone of being stolen especially if your 'keys' are in there or if happened that bad people knew it. Putting it on exchangers and other online platforms make it prone to hacking,malwares, and the likes. So it does depend to the investor on how secure it will be. It is our money we are talking about therefore its security depends on us. But in comparison to which would be the best, I am using hardware wallet for years and fortunately, I did not encounter any problem. But as others have said, electrum is the best option. So you choose depending on your investment routine.
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wahyuagung26
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June 10, 2023, 02:55:47 PM |
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So far hardware wallets are much more recommended than some online wallets for example such as exchanges, exchanges or the like, even though basically this is a place where people always access the place, but most now choose hardware wallets to be their asset stay safe, and have full access to the assets they have. and don't be careless in taking care of it.
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crunck
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June 10, 2023, 03:14:10 PM |
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I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before. Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn. Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
All wallets are vulnerable to hackers, no wallet is completely secure. But using a custodial wallet or exchange wallet is even more risky because we don't have full control over our assets. In addition to the possibility of being attacked by hackers, we are also at risk of having our assets frozen, having our assets confiscated without reason, and making it very difficult to get our accounts back. So stay away from the wallets you refer to and learn about non-custodial wallets. But remember, the safety of your assets is 99% dependent on you, no matter what wallet you are using.
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BitcoinBabbler
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June 10, 2023, 05:26:45 PM Last edit: July 14, 2023, 08:12:21 PM by BitcoinBabbler |
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I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before. Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn. Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
All wallets are vulnerable to hackers, no wallet is completely secure. But using a custodial wallet or exchange wallet is even more risky because we don't have full control over our assets. In addition to the possibility of being attacked by hackers, we are also at risk of having our assets frozen, having our assets confiscated without reason, and making it very difficult to get our accounts back. So stay away from the wallets you refer to and learn about non-custodial wallets. But remember, the safety of your assets is 99% dependent on you, no matter what wallet you are using. It is our money we are talking about therefore its security depends on us. But in comparison to which would be the best, I am using hardware wallet for years and fortunately, I did not encounter any problem and But using a custodial wallet or exchange wallet is even more risky because we don't have full control over our assets. In addition to the possibility of being attacked by hackers and So it does depend to the investor on how secure it will be. It is our money we are talking about therefore its security depends on us. But in comparison to which would be the best and It is an open-source wallet that supports multi signature functionality .
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m2017
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June 10, 2023, 05:47:21 PM |
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I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before. Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn. Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
There are no completely secure crypto storage platforms. If the wallet has not yet been hacked, it only means that the hackers have not yet figured out how to do it. For the time being. Therefore, it is safest not to store all crypto assets on one platform, which allows you to diversify your risks. Dividing by Blockchain, Binance and Trust wallet is not such a bad decision. The probability of hacking all platforms at once is unlikely, and in case of loss, at least a part of it will remain with you. The bad thing is that these are online wallets, which increases the risk of their hacking, especially since this has already happened to them. Probably the best solution would be storage on cold wallets, or even better on several multi-signature wallets at once. For hardware wallets, too, may not be the most secure way of storage lately (because of the risks associated with manufacturers), and a multi-signature on 2-3 devices will create additional reliability.
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BD Crypto
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June 10, 2023, 06:51:04 PM |
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I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
You told about Binance whice offers custodial wallet. And remember every custodial wallets are not secured. Always remember "Not Your Keys, Not Your Coins". So it's better to use non custodial wallet like Electrum. Trust Wallet is also a non custodial wallet. To be safe always keep your secret phrase in a secure place. Again if you have a huge amount of Crypto assets then I will suggest you to use Hardware wallets like Ledger Nano X, Trezor etc.
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Synchronice
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June 10, 2023, 07:45:14 PM |
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I think I’ll use electrum then do more research on Trezor as I can’t afford an hardware for now.
Your coins won't automatically become prone to hack by using Electrum or Trezor, especially Trezor, you have to keep it in mind. The most important part is, how are you going to safely save your seed phrases. You should keep it very safely, so safely that someone other than you, shouldn't have access to it. Be sure that your PC is clean from viruses, trojans, trackers, etc. Be sure that your device doesn't contain any wireless hardware and is completely offline. Then write down your seed phrases on paper or on steel cassette. If you want to buy a hardware wallet, then I recommend you Passport wallet over Trezor.
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The Cryptovator
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June 10, 2023, 07:51:44 PM |
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I'm curious about your motivation for seeking a 'platform' to store your cryptocurrency. Instead of relying on a third-party platform, why not consider using your own wallet? I suggest opting for a non-custodial wallet with open-source software. A superior alternative would be a hardware wallet like Trezor, which is also open source. By using a hardware wallet, you would have complete control over your funds, unless your seed is compromised. Therefore, I strongly recommend using a hardware wallet and avoiding any platforms that claim to offer secure storage for your cryptocurrency.
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