Do not have high amount of money on an online device.

[JiiBs]

Most times, the ease to work certain devices and wallets makes one to make certain preferences. The online wallets is an easy to handle, carry along and work kind of wallet and as such, it’s not difficult for someone to choose convince over having to risk security of their holdings because, we often think it wouldn’t come to that or it wouldn’t happen to us but it does happen and until we are the victim, we don’t fully get it.

[Moreno233]

I don't have big amount in any wallet connected to the internet, I understand the risk which is why I don't store much money online, but just the amount I would want to use within a short period. I have seen the level of damage storing money in hot wallets can do, hence my resolve not to allow myself become a victim. Hardware wallets still remain the best but in the absence of that, other safety measures can be applied.

[Die_empty]

Another most important part is where I saw that people should not have huge amount of coins on a wallet on their online device. You can be an expert and still have a vulnerable wallet.

No matter how tight proof or safe we assume a device is, it's still dependent on humans to maintain its security. I laugh whenever I read people talk about hardware wallet and how they're safer than online wallets. They forget that humans operate them and hackers are humans too. About leaving huge amount of coins in wallets as a bad thing, I don't know what to really make out of it. We get to read of admonitions that we shouldn't leave huge funds in Cexs, are we also going to be getting admonitions now not to leave same in online wallets too even when they're Web3 wallets?

We have more responsibility to keep our coins safe than just relying on devices. But the fact cannot be disputed that some devices are safer than others. The advice not to keep large funds in centralized exchanges and online wallets (which are not airgapped) is still valid. The challenge is that wallets are more prone to attacks if they are connected to online platforms. However, this doesn't mean that you should be careless while using hardware wallets. If you don't follow the safety procedures for using a hardware wallet, you can still be a victim.     

[Don Pedro Dinero]

For me, a general rule would be to never have more than $1,000 in a mobile wallet, and I don't think I've ever had more than $500 or so. The rest is in cold storage. I haven't ever had any problems, I haven't been hacked or anything, but just because it hasn't happened doesn't mean that mobile wallets are secure.

I don't have big amount in any wallet connected to the internet, I understand the risk which is why I don't store much money online, but just the amount I would want to use within a short period. I have seen the level of damage storing money in hot wallets can do, hence my resolve not to allow myself become a victim. Hardware wallets still remain the best but in the absence of that, other safety measures can be applied.

Yes, depending on the amount you have, you can go from one HW to two, stored in different locations, or multisig systems.

[AprilioMP]

The quote is true, even though devices like mobile phones are bought at expensive prices because there are features that strengthen security, but still cannot guarantee with all the risks that will be obtained.

Assets are not concentrated to be stored on devices that are more than one function with the intention of not a special device that is designed as a wallet whose function is clear as a storage like a special wallet.

[Wiwo]

For me, a general rule would be to never have more than $1,000 in a mobile wallet, and I don't think I've ever had more than $500 or so. The rest is in cold storage. I haven't ever had any problems, I haven't been hacked or anything, but just because it hasn't happened doesn't mean that mobile wallets are secure.

I agree with your personal decisions of not leaving amount above $1000 on your exchange wallets, this may be hard for someone that is an active legendary trader with some good amount on their exchange balance for trading, and likewise some others that find online wallets easily accessible and flexible, this is why we most times decide to divide our assets into several categories.

Cold storage is for long tearm assets for me bitcoin and the rest, i have some good amount also on online wallets but that is for some purposes, like trading, purchasing goods and p2p transactions.

[Marvelockg]

No matter how informed or an expert you are, you could also be vulnerable, if not from your end, it could be from the device side or the manufacturers. That is why I say that since you are online, you are not 100% safe. Most experts know about not holding huge amount online, but they ignore it because of convenience or laziness. This industry is a respecter of no man.

_act- please correct your quote so that it can be clickable.

Exactly, no one is an expert in this journey of crypto, no matter how careful one is, one will one way or the way will always make mistakes that give them another experience or teach them more about crypto and this will make them to strategize their plans.

It is the realisation that things can go wrong that makes an investor work towards not leaving a major part of his holding in an exchange so as to reduce the extent of exposure to potential hack. Like the OP said, things can go wrong and the system you so much trust can get attacked which endangeres your asset in the process. To avoid that, it's only best that you have just a small percentage of your asset in an exchange that's if there's a need to while you keep the rest offline. Any activity that you know engaging in will potentially cause arm to your asset should be avoided and on your part, you've got to set measures in place that helps keep your asset always safe and secured.

There are so much issues that can happen to your device that can endanger your asset which ranges from hacks to theft and the possibility of your device even crashing.

[The Cryptovator]

Any online device won't be fully secure; a single mistake would drain your wallet. For me, I don't even store large amounts of funds in the exchange. Because anything could happen, including the exchange being hacked and my device being hacked. The safest way to secure our funds is to store funds in an air-gapped wallet or hardware wallet. Without authorisation from the device, the funds won't be drained.

Often we see how hackers are draining users' wallets. But regret to see we still aren't learning from there and are repeating the same mistakes. I might be an expert, but my device would be vulnerable, so we must think more deeply about how to secure our funds safely.

[SmartGold01]

Vulnerability can't be predicted even knowing when such would happened to you.. the fact is we should be extremely cautious on what we are doing.
For instance, we should at least have two phones if we would want to make our phone storage or a place to store coin we can be that Open with one phone and let the other phone be for accessing our crypto assets. In overall summary, we can't determines when someone falls into victim of this such incident but we just have to be extremely careful.

[Awaklara]

Another most important part is where I saw that people should not have huge amount of coins on a wallet on their online device. You can be an expert and still have a vulnerable wallet. You can read this about it:

In the past, I used to keep all the assets I had in a wallet I installed on my device. But now I have separated them. I still have some funds in the online wallet, but it is a small amount that I can use at any time. However, for investment purposes and storing larger amounts, I have started using a hardware wallet.
We must be aware that online devices like smartphones, which we usually use for social media activities, are also very vulnerable to attacks. So the best prevention is to minimize or avoid storing assets on our online devices as much as possible.

[famososMuertos]

As with this news story, which is collaborative, you don't just have to read it, you have to be curious about the topic. Any new development is important. You can't assume you know everything and are unbeatable.

That said, you also have to know, or rather learn, how to skew information: the classic homework done. And that's what this information is. It's a very, very old topic, which is surely revalued by what I said in my first paragraph.

[KiaKia]

The second quote below will shock you if you have not read about it before.

You can read the news yourself if you click on this link: https://cointelegraph.com/news/iphone-17-memory-protection-boosts-crypto-security

This is the part that I like about the news:

“Security improvements reduce overall risk but don’t make devices invulnerable,” Hacken said, asking users to be vigilant and expect new vulnerabilities.

Also do not think your phone is not vulnerable but you can learn how to avoid hacks to significantly minimize how you will be vulnerable to hackers.

Another most important part is where I saw that people should not have huge amount of coins on a wallet on their online device. You can be an expert and still have a vulnerable wallet. You can read this about it:

[quoe=https://cointelegraph.com/news/iphone-17-memory-protection-boosts-crypto-security]Apple’s crypto users have been facing serious security threats. Last month, it was revealed that a zero-click vulnerability allows attackers to compromise iPhones, iPads and Macs without user interaction. Apple released security patches across multiple OS versions to fix the flaw.

What if you are a victim before the security patches.
[/quote]


Apple products was a disaster for storing digital assets but that's back then, still I don't recommend anyone to store coins on a apple wallet devices, I still like android a bit better in this specific area.

I don't know why people aren't bother to store a thousand dollars worth of coins on a crypto wallet that runs on mobile phone, if you can gather a thousand dollars you can safe up for a hardware wallet.

The difference is a hardaware wallet is solely build for keeping coins safe while a android or iPhone are build for many functions, to run different applications and browse the Web, this makes them a bad choice for keeping large amount of digital currencies.

[Catenaccio]

Apple products was a disaster for storing digital assets but that's back then, still I don't recommend anyone to store coins on a apple wallet devices, I still like android a bit better in this specific area.

Phones are terrible for storing your bitcoin or cryptocurrency assets, no matter which phone brand is, either Apple, Samsung, Xiaomi, Huawei, whatever. The only acceptable storage is using your phones as airgapped devices and cold storage tools.

Old phone as cold storage?

I don't know why people aren't bother to store a thousand dollars worth of coins on a crypto wallet that runs on mobile phone, if you can gather a thousand dollars you can safe up for a hardware wallet.

The difference is a hardaware wallet is solely build for keeping coins safe while a android or iPhone are build for many functions, to run different applications and browse the Web, this makes them a bad choice for keeping large amount of digital currencies.

Hardware wallets are cold storage tools and I agree that if you have thousands of dollar in cryptocurrency, it is really important to spend part of your fund for buying a new hardware wallet. Trying to save some money and ignore hardware wallets will sometimes cost you more than a hardware wallet price.

[LIST] Open Source Hardware Wallets.
[GUIDE] How to buy a Hardware Wallet the right way.

[Joy- maker]

The truth is anybody can fall prey to scam or can be vulnerable to scam if we are not careful enough so we should just try our best to stay clear so that we won't be targeted by scammers and we can hold huge amount of of cryptocurrency in our online, but We should learn to have a separate device for our cryptocurrency investment, aside from our normal devices that will use for our normal stuffs. And we would also have separate wallets for our cryptocurrency investment and not just having one wallet, now what are my trying to say as a cryptocurrency investor have a separate wallet for your holding, and also have separate wallet that you will be using for your daily cryptocurrency transactions, because it is not advisable to store our cryptocurrencies in just one wallet, let try and spread our cryptocurrency investment across separate wallets in case things go otherwise.

[Ojima-ojo]

I don't have big amount in any wallet connected to the internet, I understand the risk which is why I don't store much money online, but just the amount I would want to use within a short period. I have seen the level of damage storing money in hot wallets can do, hence my resolve not to allow myself become a victim. Hardware wallets still remain the best but in the absence of that, other safety measures can be applied.

Aside from traders, I don't think anyone else will be storing such a huge amount like 1 Bitcoin on an online wallet, when you can own it in a wallet that guarantees security and ease of moving your money around for whatever purposes, that is the freedom in cryptocurrency market,


Going forward with that also there is need to set limits of how much you leave on your casino account if you believe that sometime you get carried away, why is good for you is to stick to our things.

[Iamgoat]

I don't have big amount in any wallet connected to the internet, I understand the risk which is why I don't store much money online, but just the amount I would want to use within a short period. I have seen the level of damage storing money in hot wallets can do, hence my resolve not to allow myself become a victim. Hardware wallets still remain the best but in the absence of that, other safety measures can be applied.

But if I may ask, what do you regard as a big amount of money and small. I guess everyone has what they regard to as a big money or small amount of money. What I see as big might be regarded as small money to you but are there some kind of minimum, which can be regarded as a big money and a maximum which will be regarded as a small money? or are we just going to based it on individual's pocket alone without having to have a based line to it?

[HONDACD125]

Our assets are expected to be on a non custodial wallet and not custodial wallet, then also, the devices we often use for internet connectivity may be set apart to the one which have our wallet in it, so that we don't comprise things all by ourselves, had it been some have been aware of how these vulnerability come to be, they wouldn't have gone through the path taken that led to the loss of their asset after being attacked.

I agree with the separate device thing you mentioned. I also believe that if we want to stay safe from any sort of attacks whatsoever, we should have a separate device containing our wallet that we use for daily or frequent transactions. If we have assets that we wish to hold for the long term, I think it's better that we buy a hardware wallet and use that for it, it doesn't cost that much money and is the best option for those who have large amounts of money kept in cryptocurrencies because security is the first thing you should be concerned about when it comes to your finances.

If someone believes they don't have that much money so they should simply use a device for their non-custodial wallet, a device which they don't use normally like for social media or doing other stuff over the internet. This way, they will be safe from such security threats and vulnerabilities because your device can get compromised only if you do stuff here and there.

[Cookdata]

But if I may ask, what do you regard as a big amount of money and small. I guess everyone has what they regard to as a big money or small amount of money. What I see as big might be regarded as small money to you but are there some kind of minimum, which can be regarded as a big money and a maximum which will be regarded as a small money? or are we just going to based it on individual's pocket alone without having to have a based line to it?

Big amount of money is subjective to individual but as a person, there is an amount of money you will have on your phone that will be a big amount for you, if it's money you will lose and lose your sense for it then there is no point in keeping the money on an online device. I can keep anything above $1k on my online device but then it's possible that may be another person change they spend weekly, they wouldn't think twice before they do that and that amount might be a money bag to another person.

The essence of not keeping things online device protect you from harm, if it's not an amount you're going to be spending everyday, then ding do keep it on your online device. I Trezor safe 3 isn't upto to $100, it's a one time thing, once you have you have done that you Wil not be doing it again, the device is safe proof and can withstand you got long time.

[_act_]

_act- please correct your quote so that it can be clickable.

Thanks, I have corrected it.

[boyptc]

Sure attackers are always there but the best option and how to remain safe is by being informed on how these attacks happen to a person.

It's not a problem if someone prefer to use their device for holding some of their crypto. But it will only be concerning if they have no idea of how they can fall for these attacks.

Being informed and responsible on how we browse through either computer or smartphones, it lies and starts from there.