#BitcoinStorage #CryptoStorage #HardwareWallets #ColdStorage #NotMyKeysNotMyCoins
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Crypto User Loses Over $100,000 in Bitcoin While Transferring His Wallet – THIS PROVES THE IMPORTANCE OF WHAT I TRIED TO STRESS IN THIS VIDEO!!!!! 4% of Bitcoin are lost every year. Don’t BE IN THAT 4% my friends! https://news.bitcoin.com/crypto-user-loses-over-100k-in-bitcoin-while-transferring-his-wallet/
A detailed analysis of the best and worst ways to store your crypto in 2021. We outline all the methods, advantages and disadvantages of each from a risk and benefit perspective.
Plus, hot and cold storage across all apps, exchanges, web, mobile and all the different wallet types.
TIMESTAMPS
0:00 Intro – risk and risk management
0:45 Hot wallets, cold storage and exchanges – who you are and your risk profile
1:00 Money in the math and watch for scammers
1:30 Not your keys, not your coins
1:59 20-26% of all Bitcoins are lost forever
3:06 Self-survey – how accessible do you. need your coins to be, geography? tech-savvy? How to manage your own crypto
4:20 Keep your private key safe
4:50 Ledgers
5:10 Don’t buy a second-hand ledger – malware
5:25 Hardware danger
5:33 Lost keys even Elon Musk
5:48 Death or incapacitation – have your contingency plans set up
6:40 Don’t dial a wrong number – do this test first
7:00 Storage methods
8:01 Exchanges
8:27 Apps
9:00 Digital Wallets versus Cold Wallets
9:38 Web Service Wallets – make sure you have your two factor or multi-factor authentication set up
9:51 Desktop Wallets
10:27 Mobile Wallets
11:00 Paper Wallets
11:14 Hardware Wallets
11:30 See Phrases and PBKDF2 and BIP39
12:12 Your security or theirs?
12:52 Conclusion – balance security and convenience with critical mass, geopolitical and familial risk.
13:30 Thank you and pls subscribe and hit the bell if you like it
