Well lets just start by saying I feel like I'm only staring at the tip of the iceberg here and that there is a whole lot more I will be learning in the near future and that is exciting. However as you can tell by the look on my dogs face it is exhausting. With that said I have learned a ton and had a blast trying to understand and figure out this wonderful but scary new world of cryptos. To sum it up in just one word if that's at all possible, it would be security. After all we are dealing with digital money and unless you want yours to disappear, I would give some serious concern towards an increased awareness of security.
What I've got so far is Cold Storage and Paper Wallets. You DO NOT want to store your coins on the exchanges at least long term. So you move your coins onto a paper wallet or cold storage USB. To start you'll want to go to a wallet generator site and generate a wallet there. There are plenty of videos showing you how to do this online so I'm not going into that here. You'll want to use a computer not connected to the internet for a portion of the transaction which is why you see me using that dinosaur laptop. Disconnecting your WIFI is another option but more time consuming.
Above you are looking at a paper wallet and it is just that, basically a receipt with your public and private codes printed on it. For obvious reason you want to keep this hidden. Even from the camera on your devices that have QR code reading software built into them to prevent having your bitcoin stolen from you.
Above you are looking at a Ledger Nano S otherwise a cold storage USB. Or you can just use a regular thumb drive as a cold storage in paper wallet form if that makes sense. This is just a crude introduction to securing your crypto currencies mainly just to help bring awareness for those of you on my level. Anyway that's all I have for now at least in this post.
Thank you for taking the time to view my post, please leave a comment, your advice, your opinion or just to say hi. Also you can follow me @jaredlang
May we all find what we are looking for - theseeker
Something to note though, and which will hopefully help someone out there. The Ledger can be a bit buggy, well the Chrome app can. Not long ago I decided to log into my Nano to check the balance since I wasn't sure exactly how much I had in there and I was sensible enough to create several wallets to spread my BTC... Low and behold I log in and all my wallets are missing. All of them. To say that I almost cried is an understatement.
After 30 minutes of frantic searching online for a possible issue (such as a hack on the wallet where someone can alter the javascript on the Chrome app to get you to send your coins to an address other than the one created on the Ledger, read more about it here) I decided to reinstall the Chrome app.... I did this with cold sweats because I was concerned that would definitely make me unable to access my BTC.
Thankfully that fixed it and I was able to access my BTC again. But let this be a word of warning, cold storage wallets are only as safe as the user. Be alert, be aware, never be complacent, and keep looking for news of hacks. A lot of money is involved and many people out there are trying to get it.
Thanks for sharing your knowledge and experience, it's that which helps us all learn this stuff faster. I'll definitely be keeping that all in mind. Glad you were able to recover all your BTC btw. We gotta stay vigilant. Have a good one, hope to see yah around.
This info is invaluable! And love you and that little Burt Dog! 🐶 ❤️
Thanks! Little by little right. Just gotta keep one foot in front of the other to climb this mountain.
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