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Author Topic: What do you think?  (Read 498 times)
KiaKia
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April 16, 2024, 02:41:03 PM
 #61

Is this good advice for those who can't afford a hardware wallet?

Using a Bitcoin Electrum wallet or other, disconnect from the internet before generating a new seed and never connecting to the internet again.

Until you are ready to sell everything in that wallet.

Is this practice similar to using a hardware wallet? This advice came from a man I know who said to have been keeping his BTC since 2013 in the same manner, he said the internet/online is the culprit or enemy of every crypto wallet.
I will advice to go airgapped.

Meaning that you will generate the wallet offline and till the end of time it will never be connected to the internet.

To be very safe from online threats you need to keep your recovery seed completely offline, don't just generate the wallet offline and that is all, you must never connect the wallet online again.

This days hardware wallets are not costly anymore, I know one company that still do discount offers since last year till today, with $100 and above you will get your hands on a good airgapped device like Keystone hardware wallet.

You have no excuse not to have a Airgapped hardware wallet today.
GeorgeJohn
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April 16, 2024, 10:35:18 PM
 #62

When you have not review your secret code of wallet I don't think that any person can have access to your wallet address, from my perspective it is very important that we have to document our seed phrase so that no person can have access to it because when someone have access that you might lock whatever thing you have in that particular wallet even though it is a hardware wallet, so for you to protect ei ethereum or Bitcoin in your wallet you have to be highly secretive in protecting your seed phrase.

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Bitcoin_people
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April 17, 2024, 01:50:58 AM
 #63

Is this good advice for those who can't afford a hardware wallet?

Using a Bitcoin Electrum wallet or other, disconnect from the internet before generating a new seed and never connecting to the internet again.

Until you are ready to sell everything in that wallet.

Is this practice similar to using a hardware wallet? This advice came from a man I know who said to have been keeping his BTC since 2013 in the same manner, he said the internet/online is the culprit or enemy of every crypto wallet.

Of course Electrum and Mycelium wallets will be good for people who don't use hardware wallets. But it must disconnect the internet for security and create a new wallet afterwards so that fraudsters can't trace it. Yes it can definitely be detected by a hacker if you create a wallet with internet connection you need to disconnect internet connection to keep those seeds safe. We mostly open wallets through internet but it is actually very risky for us in future when you keep bitcoins here hackers will definitely be on the lookout. That's why you should create a new wallet if you open a new wallet and it's software then disconnect from the internet and make it safe for you and your money. But you should always be careful otherwise your wallet can get into other hands at any time so you should store your seeds in a safe place.

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YUriy1991
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April 17, 2024, 02:22:34 AM
 #64

Until you are ready to sell everything in that wallet.

There are many factors that influence the stages in securing our assets and that is also the investment strategy. True. The right advice from your friends is of course and we also both know Digital currencies also have disadvantages to consider, the most important of which is to protect your seed phrase well.

Yes. As stated by @hosseinimr93 and it must be done in order to really go your way but the internet function also provides opportunities for widespread adoption of BTC currency in some regions.

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