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The basis of my bitcoin investing thesis
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Additional Posts in Cryptocurrency
Can't register for binance or bittrex 😮
How’s litecoin doing? Thinking to invest in it.
XLM to 1.00. Pump it up!
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Is that the same as a paper wallet ^
With Nano Ledger, your private key never touches the internet. If you use USB if has to be connected to the internet at some point. Nano Leger is therefore technically more secure though not everyone should overpay for security. I personally think USB is secure enough if you already practice good internet security such as using good anti-virus, don't download torrent or go to questionable web site
Under your mattress
Offline. Look into cold storage
Paper wallet can be one way of cold storage. There are other ways such as buy a hardware wallet like Nano ledger s, or a dedicated computer that doesn't connect to your internet.
Yes it is! ^
Is paper wallet literal paper?
Seems so strange having crypto stored in paper? How?
You keep your secret key or however many unique words to access an offline wallet. You can store the unique combo so no one else can access it.. Except yourself. Obviously unless you memorize it, it would have to be on paper, hence the teen paper wallet. So write it down and lock it away
The offline wallet though. What is it? I understand you access it with the code but where? Where do I input the code?
Deloitte 1 and KPMG 1 - what do you guys use? If you use the hardware wallets, is it complicated to transfer your coins over?
I just store my private keys on a USB stick. Security is a spectrum that involves tradeoff between security and convinience . USB is secure enough for me. Hardware wallet like ledger Nano s comes with instructions
Just a regular USB? Why wouldn't everyone use that as opposed to buying a nano ledger s for like $160
Is it easy to transfer coins just using a regular USB?
Just download a software client that supports the coin and follow the instructions
Paper
Depends
There are java apps that can be run offline on computers not connected to the internet (ever) to generate private/public keys. You can then transfer anything you have to the public key address(es) generated by the app. Only you will have the private key. Where you store it depends on a bunch of things, but you could print a copy or store on one (or more) fully-encrypted thumb drives. Then only you would know how much BTC you have. For all the exchange (or anyone) knows you paid someone when you transferred from the exchange to your paper wallet. The only trail you would leave would be the deposits you made via the exchange (and then immediately sent to your paper wallet). It's like burying money in the desert but only you have the map.