Best way to save your crypto !!!

[melinoe]

As exchanges doesn't protect our anonymity any more and they are being more and more regulated ! It is not any more the crypto philosophy at all !

Yes, that's the best choice if you have a goal of storing Bitcoin or investing in the long term, rather than using an exchange.
Currently, technology is becoming more sophisticated, there are dozens of types of Bitcoin storage wallets that you can use, of course all of this is to keep your digital assets safe, Ledger, Trezor safe and many types of Bitcoin storage wallets that you can use.

You hold the key, you are the first party, you hold the door, basically you are all of them.

And that's the best way to go in terms of not giving third parties gates to have eyes / levers against you.

Regulations push boundaries in that regard daily

[ChocolateBitcoinK]

In my personal life, I have control over all my bank and personal documents. I have shared them with my parents and older siblings. If anything happens to me, they can find them very well and use them to use my assets. Personally, when I got married, I shared everything with my wife, although she does not understand crypto very well, but I am explaining it to her and she is slowly learning. I hope that in my absence, they will be able to enjoy the control of my assets easily.

This is absolutely necessary. Because we can never be sure about our physical condition, accidents are natural, so you must have an alternative to protect your assets in your absence. Give a second key to your trust only to the one you trust the most, so that your family can receive those assets even if you are not there, and this should be done in the case of any assets. Tell only those who will never deceive you, because the greed for wealth is very terrible, it can change any person, so determine the right person correctly and give him the key to your assets, this is definitely necessary for long-term security.

[henry_of_skalitz]

^ A question of greed / trust I saw many times in topics like these.

For me, it's simple - if the person in question lived with me through all of my high and lows, he or she deserves to know such details.. If not, or they didn't pass some situations.. Then no.

[dezoel]

I prefer to keep my keys with me, stored with my personal documents. There is always a possibility it may be leaked somehow or accessed by someone else, but I still think it's the best way to store it. I wouldn't feel comfortable holding my keys with third party services such as banks. Moreover, what if I would like to access my wallet? Or I would have to go to the bank to access my keys or I would have to memorize the it.

And to memorize would be hard for me, because that isn't something I'm accessing in a daily basis. I prefer to accumulate coins and only access them once I've accumulated a nice chunk. Actually, if it wasn't for the key written on the paper, I wouldn't know a single digit of it.

Many people keep saying this, but they are not aware how stupid the average person is. So, you are telling me EVERYONE should keep their money personally? I guarantee you that many of them will be hacked. Whereas if you keep your money in a trusted place, like binance for example, most of that money is in cold storage, and I am sure the hot wallet is filled with only their profits, so if they get their hot wallet hacked (which happened before) they will have enough to pay everyone their money back anyways.

[hero_the_bossman]

Many people keep saying this, but they are not aware how stupid the average person is. So, you are telling me EVERYONE should keep their money personally? I guarantee you that many of them will be hacked. Whereas if you keep your money in a trusted place, like binance for example, most of that money is in cold storage, and I am sure the hot wallet is filled with only their profits, so if they get their hot wallet hacked (which happened before) they will have enough to pay everyone their money back anyways.

Yep. But the more custody is with the people, the better, imo.

There is usually no problem leaving your money in CEX-backed places, because the amount of funds there would be miniscule for them to take notice or do something for your holdings, however, it's still a risk.

[wozzek23]

There is usually no problem leaving your money in CEX-backed places, because the amount of funds there would be miniscule for them to take notice or do something for your holdings, however, it's still a risk.

The risk in holding funds in a centralized exchange is not about the exchange doing something with your funds; they obviously don't need to do that, considering that they make millions of dollars already. The risk is for your account getting compromised somehow.

We have seen cases in the past where hackers or exploiters hack into the databases of platforms and then access specific user accounts from that data to steal their funds. Now, I know that an exchange should take responsibility for such a thing, but that will only happen if it's done on a large scale, but if the heist is not that major, they won't be making any refunds.

This is why, it's always better to keep your funds somewhere where the chances of such a thing happening are very low, like a non-custodial wallet where your seed phrase isn't listed in a centralized database that can potentially get compromised and then your account could get risked. Unless you fall into a trap like clicking a phishing link or something and getting your seed phrase leaked, you should be safe.

[samadam007]

Hello guys !

I want to discuss the best way to save and stack our crypto !
As exchanges doesn't protect our anonymity any more and they are being more and more regulated ! It is not any more the crypto philosophy at all !
I was thinking on going on cold wallet as Ledger and stack on protocols like lido or rocket.
I want to know your opinions !

Using a cold wallet like Ledger is a smart way to keep your crypto safe and private. It gives you full control unlike exchanges that are now more regulated and track your info. Staking with Lido or Rocket is a good way to earn but there’s always some risk with these platforms. Overall, moving off exchanges and managing your own crypto fits the true crypto philosophy

[Ayers]

I prefer to keep my keys with me, stored with my personal documents. There is always a possibility it may be leaked somehow or accessed by someone else, but I still think it's the best way to store it. I wouldn't feel comfortable holding my keys with third party services such as banks. Moreover, what if I would like to access my wallet? Or I would have to go to the bank to access my keys or I would have to memorize the it.

And to memorize would be hard for me, because that isn't something I'm accessing in a daily basis. I prefer to accumulate coins and only access them once I've accumulated a nice chunk. Actually, if it wasn't for the key written on the paper, I wouldn't know a single digit of it.

Many people keep saying this, but they are not aware how stupid the average person is. So, you are telling me EVERYONE should keep their money personally? I guarantee you that many of them will be hacked. Whereas if you keep your money in a trusted place, like binance for example, most of that money is in cold storage, and I am sure the hot wallet is filled with only their profits, so if they get their hot wallet hacked (which happened before) they will have enough to pay everyone their money back anyways.

And you are trying to tell people that storing Bitcoin on Binance and centralized platforms is safer? Are you serious? Did you forget what happened to Mt.gox and FTX? And how centralized lending platforms like Celsius Network or BlockFi went bankrupt and left thousands of investors and users with huge losses? There are even reports of investors committing suicide after those centralized exchanges collapsed because that was all their money.

It is surprising that a long-time and seasoned market participant like you is not interested in the core philosophy of bitcoin and advocates storing crypto assets on centralized exchanges.
I'm not against us using centralized exchanges to buy, sell, trade, p2p, but I'm against using them as long term storage of bitcoins and that's a bad idea.

[AGogi2003]

In my personal life, I have control over all my bank and personal documents. I have shared them with my parents and older siblings. If anything happens to me, they can find them very well and use them to use my assets. Personally, when I got married, I shared everything with my wife, although she does not understand crypto very well, but I am explaining it to her and she is slowly learning. I hope that in my absence, they will be able to enjoy the control of my assets easily.

Sharing your private key with your siblings can be probably be a risk but of you trust them that is fine but some lost there coin when Sharing there privacy to there siblings thinking after is not more anymore they can handle the money and give to is children's but at ends they collected everything from the owner since is still alive. That is why is very risky to be Sharing your things to friends or siblings thinking they won't hurt you and you don't know what is actual on there mind to do. Is more better to share your things to your wife since is the mother of your children and he won't hurt you because you both benefit from it. Crypto is easy to scam without getting refund again that is why you need be very careful in it. Keeping money in exchange to save is risk, is just be like someone that give on knows person money to hold and if he run you can't find him again.

[Onyeeze]

If you want to save your bitcoin in place whereby someone will not have access to your bitcoin, the best thing to do is to have offline storage of your seed phrase, and use a non custodial wallet to keep your bitcoin, using exchange iss like someone who is taking a huge risk, so I believe that whatever we are doing we should have our bitcoin seed phrase offline, because saving it with email or anything that has to so with online can make you to lost it that much, so is better to keep it save offline and also avoid exchange saving of your bitcoin, exchange is not save because hackers tracks down some big exchanges and since it has happened to binance it kept people on tension

[JaredIbrahim]

Cold wallet is home base. That’s where your real stack sleeps.

Exchanges are just the on-ramp now. Protocols for yield are a side hustle—don’t risk the main bag. Stay in your own vault

[Nothingtodo]

I have locker in my bank. I have written down the codes in papers, made some copies actually. I secure my gold in that bank vault. A.d I keep my crypto codes there. I have educated my wife about crypto. Basic stuffs. And taught her to withdraw fund from cex, dex. So If ai die,  my wife will take control of my asset for my Children.
I prefer hardware wallet too.

You feel safe with a locker at the bank, I think even if you rent a locker at your bank, you will not be able to keep your Bitcoin wallet seed safe. If for some reason the bank authorities take access to your locker, then you will lose your Bitcoin forever. Although no one can open the locker in your absence, by applying special laws, or in the presence of your nominee, or with special permission from the court if you are involved in any criminal activity, someone can open your locker, which will lead to the possibility of your wallet's seed being leaked from there. However, it will be most secure if you memorize the security of your Bitcoin wallet or write it down in the form of a document among your close blood relatives.