The Cryptocurrency Storage Thread

[silverfoxrox]

I thought it would be helpful for new-comers to cryptocurrency (like me) to have a place they can go to to find out the latest on how to store their cryptocurrencies securely.

For instance:

• Do you use a hot or cold wallet?
• Which hot storage wallets are you currently using/trust?
• Any tips on storing cryptos securely?
• Any cautionary tales?
• What is the gold standard protocol from the moment of depositing money?

 

[Hendrix]

I use Exodus for most of my coins, and Rippex for my Ripple.

 

[redarrow]

I prefer to use individual wallets for each type of crypto I own, something about eggs and baskets.. That said I have used Jaxx a bit but currently it only has some CVC left in it.

All the data is stored on an encrypted USB flash drive, I use Linux so my general strategy is to create a symbolic link from whatever location a particular wallet wants to store it's data to my flash drive, this way I can keep the wallet software updated easily but my coins cannot be accessed without the flash drive. I only ever plug it in anytime I wanna do a transaction and remove it directly after. It's perhaps not as secure as a hardware type wallet but it's secure enough for me and I can make it work with any crypto.

Just remember to have a good backup strategy.. I already once had a situation of my flash drive being corrupted (I think I removed it before unmounting it) and it's really hard to recover an encrypted drive..

 

[silverfoxrox]

I prefer to use individual wallets for each type of crypto I own, something about eggs and baskets.. That said I have used Jaxx a bit but currently it only has some CVC left in it.

All the data is stored on an encrypted USB flash drive, I use Linux so my general strategy is to create a symbolic link from whatever location a particular wallet wants to store it's data to my flash drive, this way I can keep the wallet software updated easily but my coins cannot be accessed without the flash drive. I only ever plug it in anytime I wanna do a transaction and remove it directly after. It's perhaps not as secure as a hardware type wallet but it's secure enough for me and I can make it work with any crypto.

Just remember to have a good backup strategy.. I already once had a situation of my flash drive being corrupted (I think I removed it before unmounting it) and it's really hard to recover an encrypted drive..

It seems to me the greatest risk with the big cryptocurrencies is with storage. Right now all of my cryptos are stored on Jaxx, but it seems to me that is not ideal for the long-haul once my portfolio grows.

 

[The_Ogre]

Exodus for the important/HNWI coins, Bittrex exchange for everything else. If it's not trade-able on Bittrex, I look past it.

And for the love of god, back up your account and never expose your private key. Ever!

 

[Hamster]

A wallet like Exodus (or Jaxx) with an exchange button built in is the best imo. When the scht hits the fan you're one click away from potentially mitigating huge losses.