Protecting your crypto

[Glossy 615]

What are you doing to protect your crypto?

There is big danger that someone will take your crypto assets from you, so we must be careful in protecting them.

 

Here are some of the rules that help us protect them:

1. If you hodl crypto then use hardware wallet or cold wallet - copy the seed and store it on 2 or 3 safe locations - same with cold wallet

2. Don't let your assets stay on exchange too long

3. Always be careful before investing in ICO - research the team and the project

4. Never trust anyone who contacts you on Telegram group and offers you "some great deal"

5. If something seem too good to be true, it is probably scam.

 

If you have any tips please do not hesitate to share it

 

Stay safe my friends

 

If you find this thread helpful feel free to mark is as interesting

 

 

Edited October 16, 2019 by Glossy

[Thekingcallme 1975]

I keep my currencies in an online wallet and have activated the dual security system
Everything is going well and I haven't had any problems in 3 years

Edited October 16, 2019 by Thekingcallme

[xBDT Script 4371]

Okay my coins (bitcoin) are locked in a 2/2 multisig wallet. Both keys (and seeds) are in two different devices and obviously I have printed copy saved in two different places. 

So if anyone really wants to take my crypto then they will have to have access of both devices or both printed copy.

 

For my ETH and NEO and other shitcoin, I have ledger nano S 😊

[Glossy 615]

17 minutes ago, xBDT Script said:

Okay my coins (bitcoin) are locked in a 2/2 multisig wallet. Both keys (and seeds) are in two different devices and obviously I have printed copy saved in two different places. 

So if anyone really wants to take my crypto then they will have to have access of both devices or both printed copy.

 

For my ETH and NEO and other shitcoin, I have ledger nano S 😊

Great tip, thank you for sharing, I am sure everyone will find it helpful as I find it.

I have never used multisig wallet to be honest, and not sure how do they work, I believe that you need two private keys for them?

[xBDT Script 4371]

1 minute ago, Glossy said:

I have never used multisig wallet to be honest, and not sure how do they work, I believe that you need two private keys for them?

It's not that hard very easy if you know the process.

A multiSig wallet could be x/y combination. x<y always by the way.

For example: 2/2, 2/3, 3/5 etc.

For personal use I prefer 2/2.

Yes you will have to private key (seed actually) and tow cosigner key.

 

So,

In one device: PK1, cosigner1, cosigner2

In another device PK2, cosigner2, cosigner1

Very simple.

 

[Glossy 615]

1 minute ago, xBDT Script said:

It's not that hard very easy if you know the process.

A multiSig wallet could be x/y combination. x<y always by the way.

For example: 2/2, 2/3, 3/5 etc.

For personal use I prefer 2/2.

Yes you will have to private key (seed actually) and tow cosigner key.

 

So,

In one device: PK1, cosigner1, cosigner2

In another device PK2, cosigner2, cosigner1

Very simple.

 

Does that mean that in 2/2 wallet you must have both keys for it to function (private key and cosigner key), and in 2/3 wallet you must have 2 of 3 keys for wallet to function?

[xBDT Script 4371]

x/y

The number for x is the minimum so in this case for 2/2, yes both need to sign, for 2/3 minimum 2 key is enough to broadcast a tx, for 3/5 minimum 3 key is enough to broadcast a tx.

Check this article: https://bitcoinelectrum.com/creating-a-multisig-wallet/

I am sure this will help a lot.

[hexwin 4931]

Here he is again @xBDT Script with his evangelisation of multisig wallets...
You remind me on Roger Ver back in the days when he promoted Bitcoin like crazy.
That is how you promoting multisig 😁
-------------
Back on topic

I would say and add:
- don't keep crypto in exchanges
- don't keep crypto in online wallets
- don't trust people in crypto
- double check url links to avoid phishing
 

Edited October 16, 2019 by hexwin

[bobjoemega 1088]

1 hour ago, Glossy said:

What are you doing to protect your crypto?

There is big danger that someone will take your crypto assets from you, so we must be careful in protecting them.

 

Here are some of the rules that help us protect them:

1. If you hodl crypto then use hardware wallet or cold wallet - copy the seed and store it on 2 or 3 safe locations - same with cold wallet

2. Don't let your assets stay on exchange too long

3. Always be careful before investing in ICO - research the team and the project

4. Never trust anyone who contacts you on Telegram group and offers you "some great deal"

5. If something seem too good to be true, it is probably scam.

 

If you have any tips please do not hesitate to share it

 

Stay safe my friends

 

If you find this thread helpful feel free to mark is as interesting

 

 

    First, I would like to tell you that I like the picture, and yes my friend, it's a good question: for me, I keep most of my Crypto in a lot of Exchanges, i will take the risk if some of them close, or turn into fraud, why do I do this because I want to have my money on the platform so i can trade anytime when it's good to do it, because sometimes you will need your coin to sell it because the price is going high but you find that all exchange are puting wallet in maintenance so you can not send it.

[Guest]

Don't fall for scams, if something is too good to be true in crypto it definitely is. Promises of free money, generators, incredible miners from no names that are way better than industry standards. It's all the same thing.

[setifien 1016]

1 hour ago, Thekingcallme said:

I keep my currencies in an online wallet and have activated the dual security system
Everything is going well and I haven't had any problems in 3 years

You might have an amount that doesn't attract hackers who try to get access to big wallets with large amount of currencies 

[Thekingcallme 1975]

6 minutes ago, setifien said:

You might have an amount that doesn't attract hackers who try to get access to big wallets with large amount of currencies 

You look 1000 Bitcoin a small amount as for what
It is equivalent to 8 million dollar now

[Guest]

11 minutes ago, setifien said:

You might have an amount that doesn't attract hackers who try to get access to big wallets with large amount of currencies 

There are massive whale wallets and I haven't heard of a single one of them getting hacked, while you might be targeted more it's more standard internet safety you have to follow.

[Glossy 615]

37 minutes ago, hexwin said:

I would say and add:
- don't keep crypto in exchanges
- don't keep crypto in online wallets
- don't trust people in crypto
- double check url links to avoid phishing
 

Hexwin thank you for sharing, fake websites that steal passwords (phishing) is also great danger when using crypto, just like computer viruses and other malware.

[seriousguywithfunnypants 266]

Always use Metamask and hardware wallets like Trezor, Ledger etc. to confirm your all transactions. Do not know your private keys. Just now your recovery phrases. Do not take a photo of it or write down to a computer.

[lucky80 1046]

If you can invest tens of thousands of dollars, so don't forget to invest in your own computer's security. It will cost you less than 50 bucks to have additional protection. 

[Guest]

1 minute ago, seriousguywithfunnypants said:

Always use Metamask and hardware wallets like Trezor, Ledger etc. to confirm your all transactions. Do not know your private keys. Just now your recovery phrases. Do not take a photo of it or write down to a computer.

Wait you're saying you shouldn't know your private keys or that when you use a hardware wallet the software doesn't have access to them. Because I see no issue in memorizing your private keys.

[seriousguywithfunnypants 266]

1 minute ago, Kingcolex said:

Wait you're saying you shouldn't know your private keys or that when you use a hardware wallet the software doesn't have access to them. Because I see no issue in memorizing your private keys.

Yes, use a hardware wallet the software doesn't have access to your private keys. Never create an eth wallet from MeW as it shows your private key once which can be accessible from someone else.

[Glossy 615]

8 minutes ago, alpayno said:

To make your money secure, put them on a safe and secured wallet. Explore some, there are different kinds of wallets, depends on your needs, and storing your money on an online wallet is not advisable.

Yes storing money on online or exchange wallet is not good idea because exchage can close and you won't be able to get your money back.

[cheewy 271]

great advice. be careful and do research before invest. example on telegram, there is many mining bot, offer you with big return. and this is pure scam. if you want invest on new coins, choose IEO from good exchange like binance, oxex, yobit.

[Mohs3n71 0]

Good points, and always keep in mind that the safest way for holding your crypto for a long time is storing them in a hardware wallet

[kjames 139]

i suggest just dont hold your crypto in untrusted exchanges. there bunch of good wallets available like jaxx.

[Saoha 189]

5 hours ago, Thekingcallme said:

Tôi giữ tiền của mình trong ví trực tuyến và đã kích hoạt hệ thống bảo mật kép
Mọi thứ đều ổn và tôi không gặp vấn đề gì trong 3 năm

Me too. I have never used a cold wallet, I always keep my coins on big exchanges like Binance, Kucoin or crypto wallets like: Coinbase, Myetherwallet, Blockchain, ... I use Google Authentic to protect my assets. your account. I find it quite safe and I have never been hacked.

[starwill 456]

Well, what I do is just keep the trade balance in the exchanges and the other part I have in wallets where I control the keys so I minimize the losses in case the exchange closes or suffers an attack, remember to take precautions is never too much in the Everything is possible network.
 

[Bitxalt 452]

6 hours ago, Glossy said:

What are you doing to protect your crypto?

There is big danger that someone will take your crypto assets from you, so we must be careful in protecting them.

 

Here are some of the rules that help us protect them:

1. If you hodl crypto then use hardware wallet or cold wallet - copy the seed and store it on 2 or 3 safe locations - same with cold wallet

2. Don't let your assets stay on exchange too long

3. Always be careful before investing in ICO - research the team and the project

4. Never trust anyone who contacts you on Telegram group and offers you "some great deal"

5. If something seem too good to be true, it is probably scam.

 

If you have any tips please do not hesitate to share it

 

Stay safe my friends

 

If you find this thread helpful feel free to mark is as interesting

 

 

Thanks, this is very useful, today we can see so many scammer and also pishing site, so we must more careful about fake invesment and fake news, stay safe buddy