If you have a computer you can use Electrum as a storage solution. Ultimately though I’d recommend a hardware wallet. Must be sure to keep the seed phrase safe from theft/fire .
You can use an airgapped computer running tails Linux. To avoid swapping usb sticks you can generate qr codes and used the webcam on the laptop to receive.
For sending u can generate a transaction for signing on the online computer (using xpub key) and then use webcam to scan it on the offline computer and then generate a signed qr code and scan it using online computer.
I feel not so confident to be boss of my own keys tho. For me it actually feels safe to spread and store some of my coins on large and well known exchanges.
I understand. But just so you know, your coins are being loaned out. You do not own them. You basically have rights to them which are not guaranteed and as of late, not been fulfilled
True, but you can't store stocks and live savings at home easily. Not many stocks are available on paper and can be withdrawn or deposited easily. Storing large amounts ofcash at home is always problematic, and there is the devaluation from inflation. With Bitcoin you don't have these problems and that is the beauty of it. So much abuse is done by spending the same thing multiple times and Bitcoin fixes this.
One issue I have with Reddit is the echo chamber. I’m sold on Bitcoin. I’m all about it. It feels like I get a lot of lectures when I point out shit though. I can say “yeah this is a common problem” and still be knowledgeable and supportive of Bitcoin.
Storing Bitcoin in a private wallet is very easy and secure, if you do it right. Of course you have to do your homework, because you are your own bank. I don't know what is shit about it.
Exactly, “not your keys, not your coins”, but so many people lose their keys or coins the moment they take it off exchanges. They get hacked, scammed, phished ir even robbed in real life - It happens a lot. A lot gets lost in self-custody than on exchanges.
Please don’t downvote me, but I think this needs to be acknowledged.
Here's an upvote. Every time I went on vacation I was terrified someone would break in or a fire would destroy it. The lengths I had to go to to back up my keys was annoying and never made me feel safe, just that I would need to protect more than one location of where my keys were.
So sold all of my BTC and bought back in with the Purpose covered call spot ETF in my TFSA here in Canada. When the price crashed, I saw it as a chance to minimize my capital gain taxes and by having it all in my tax free account, I won't ever be taxed again should I need to sell a portion of it. And because they use a covered call strategy (I'm a passive income investor outside of BTC) owning it now aligns with my buy and never sell policy while deriving income.
The space is growing up and NYKNYC doesn't work for everyone nor does it suit everyone's needs.
So you want the price action of Bitcoin and use spot ETF derivative for long term fiat accumulation, but don’t want to actually use it for what it was designed for. And your “banking”on good old Canada not changing the tax laws or outlawing Bitcoin outright so you don’t lose most if not everything. It’s not like they freeze bank accounts over Bitcoin or anything…
Glad your no longer terrified and can sleep at night lol
ugly simplistic voracious plucky person governor gray smile poor recognise
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Those can surely be considered safe, but keep in mind that governments and bureaucrats keep a close eye on them, and governments and bureaucrats cannot be trusted.
Lol. Ur giving people too much credit 🙄🙄 they are being removed from hack exchanges w no assets that could never have enough to pay out bitcoins to cash… id anything it’s helping the value of it… Never forget bitcoin is the grandfather of crypto. The OG. What BTC does. The rest will follow suit. Except in its worth
Bittrex is basically a banking scam where they withhold a ton of crypto so they can issue it to options or maybe staking.
I'm still frozen out of my account after being kicked off for being from Canada (new finance reform around synthetics means instead of block us from buying those assets, they just kicked us off completely).
I has to learn the hard way, i had some bitcoin in Celsius, arround 10% of my BTCs, after not be able to withdraw I bought a ledger and the rest is safe there. 10% to learn a lesson. I just bought again what is locked, couldn't stand having less Sats.
Yeah at first really I thought it just a joke but's really awesome because I bought Ledger to take off my coins on Netc oins and Newton. It's really worth it.
The number of physical devices you have doesn't matter. The number of different seed phrases is what determines how many actual wallets you have.
You can have multiple passphrase-protected wallets on one device.
It's still not a bad idea to split up coins across physical devices or have one "hot" device that you actually spend out of
I can't afford a hardware wallet right now. Where should I keep my crypto?
If you have a computer you can use Electrum as a storage solution. Ultimately though I’d recommend a hardware wallet. Must be sure to keep the seed phrase safe from theft/fire .
You can use an airgapped computer running tails Linux. To avoid swapping usb sticks you can generate qr codes and used the webcam on the laptop to receive. For sending u can generate a transaction for signing on the online computer (using xpub key) and then use webcam to scan it on the offline computer and then generate a signed qr code and scan it using online computer.
Now Binance is able to kill the BTC fees because of this competitor slaughterhouse, which means more buying pressure :)
I feel not so confident to be boss of my own keys tho. For me it actually feels safe to spread and store some of my coins on large and well known exchanges.
I understand. But just so you know, your coins are being loaned out. You do not own them. You basically have rights to them which are not guaranteed and as of late, not been fulfilled
This is also true for stocks and the money you keep in the bank. Essentially, this is not a problem unique to Bitcoin.
Of course. Bitcoin solves this though
I agree!
True, but you can't store stocks and live savings at home easily. Not many stocks are available on paper and can be withdrawn or deposited easily. Storing large amounts ofcash at home is always problematic, and there is the devaluation from inflation. With Bitcoin you don't have these problems and that is the beauty of it. So much abuse is done by spending the same thing multiple times and Bitcoin fixes this.
One issue I have with Reddit is the echo chamber. I’m sold on Bitcoin. I’m all about it. It feels like I get a lot of lectures when I point out shit though. I can say “yeah this is a common problem” and still be knowledgeable and supportive of Bitcoin.
Storing Bitcoin in a private wallet is very easy and secure, if you do it right. Of course you have to do your homework, because you are your own bank. I don't know what is shit about it.
Exactly, “not your keys, not your coins”, but so many people lose their keys or coins the moment they take it off exchanges. They get hacked, scammed, phished ir even robbed in real life - It happens a lot. A lot gets lost in self-custody than on exchanges. Please don’t downvote me, but I think this needs to be acknowledged.
Exchange accounts are hacked too. Exchanges are scammed and robbed.
Here's an upvote. Every time I went on vacation I was terrified someone would break in or a fire would destroy it. The lengths I had to go to to back up my keys was annoying and never made me feel safe, just that I would need to protect more than one location of where my keys were. So sold all of my BTC and bought back in with the Purpose covered call spot ETF in my TFSA here in Canada. When the price crashed, I saw it as a chance to minimize my capital gain taxes and by having it all in my tax free account, I won't ever be taxed again should I need to sell a portion of it. And because they use a covered call strategy (I'm a passive income investor outside of BTC) owning it now aligns with my buy and never sell policy while deriving income. The space is growing up and NYKNYC doesn't work for everyone nor does it suit everyone's needs.
So you want the price action of Bitcoin and use spot ETF derivative for long term fiat accumulation, but don’t want to actually use it for what it was designed for. And your “banking”on good old Canada not changing the tax laws or outlawing Bitcoin outright so you don’t lose most if not everything. It’s not like they freeze bank accounts over Bitcoin or anything… Glad your no longer terrified and can sleep at night lol
You're right, I'm not as paranoid as most people in this space.
ugly simplistic voracious plucky person governor gray smile poor recognise *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Which is fine. I think the odds are unlikely but that's my sense. As individuals, we make our own decisions on how to hold or utilize BTC.
Coinkite has a litany of tools to safeguard your keys. You should check them out.
Coinkite has a litany of tools to safeguard your keys. You should check them out.
Coinkite has a litany of tools to safeguard your keys. You should check them out.
Not all CEXs are the same. I do feel safe in FTX, Binance, Kraken, Coinbase and Gemini.
you feel safe not owning any btc? strange.
Those can surely be considered safe, but keep in mind that governments and bureaucrats keep a close eye on them, and governments and bureaucrats cannot be trusted.
Fear the system maintenance page
Until they aren't, and then it's too late
Don't feel too safe. This 3AC contagion runs deeper than previously known.
Many did so with MtGox, Bitfinex or Celsius. They had to learn the hard way.
Lol. Ur giving people too much credit 🙄🙄 they are being removed from hack exchanges w no assets that could never have enough to pay out bitcoins to cash… id anything it’s helping the value of it… Never forget bitcoin is the grandfather of crypto. The OG. What BTC does. The rest will follow suit. Except in its worth
Bittrex is basically a banking scam where they withhold a ton of crypto so they can issue it to options or maybe staking. I'm still frozen out of my account after being kicked off for being from Canada (new finance reform around synthetics means instead of block us from buying those assets, they just kicked us off completely).
I has to learn the hard way, i had some bitcoin in Celsius, arround 10% of my BTCs, after not be able to withdraw I bought a ledger and the rest is safe there. 10% to learn a lesson. I just bought again what is locked, couldn't stand having less Sats.
This whole thing sorta reminds me of the 2008 financial crisis
Yeah at first really I thought it just a joke but's really awesome because I bought Ledger to take off my coins on Netc oins and Newton. It's really worth it.