As has been my typical experience with creating videos, my time spent researching a topic for one idea for a video leads me to another. Case in point, initially I was planning on making a video that would go over what to expect if you were interested in creating your own homemade hardware storage device. (Don’t worry, that video is still coming) but as I was searching for the best ways to do this, I was met with a disappointingly large amount of bad advice regarding cryptocurrency wallets and best practices. So much so that I’ve decided to go over the type of bad advice I’d found and explain to you how it’s skewed in the hopes that you’ll be able to better identify good and bad advice in this space.
I understand that trying to water down the technical cryptocurrency lingo to make it palatable for the average person can be tricky and often times details are not included. But some of the examples I’m going to talk about today are great examples of websites that just miss the mark completely.
Here’s all of the bad advice I’ve found on the internet regarding bitcoin wallets:
Heidi
Would you be down to do a podcast with me ?
Do you often post them here on Steemit? or is there somewhere I can check out your podcast channel?
Sweet
Gonna rock this video now👍
I know all about this topic
And wanna hear your thoughts
Let me know what you think.
Crypto 101: Not your private key, not your crypto. And as for using hardware wallets from a third party that you carry in your pocket...
I'm off to check my pockets for "Private Wallets". Anyone know what I'm looking for?
I consider a hardware wallet more secure than a key that you print, unless you print from a PC that will never be connected to the internet ever again.
Trusting the securing of your funds is not the same as trusting someone with wealth creation and distribution. I have no issue with using a good hardware wallet, they are very valuable tools. The caveat is that you must buy directly from the OEM, and you must ensure that it has not yet been initialised when you receive it. Otherwise you risk getting a compromised device.
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Give It A Shot, and please your feedback!
Thank You!
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Lovely and useful tips, that will for sure help many people out there! Thank you so much!
Glad I can help :)
Great idea to realign the thoughts proposed and reset our mental paradigm for a healthy crypto-wallet! As always, much appreciated information worth passing on @heiditravels, namaste :)
Always good to have a healthy reminder :)
I follow you, please follow me, sir. I'm totally new to Steemit. Hope you will follow me and help me get filled up by Upvoting. Thank you so much.
Approved! Everything you said there was right!
It's funny how bloggers with no freaking clue of what they're talking about gets authority on crypto stuff. Glad you made this video so I can share it!
I think it's good to exercise a skeptical view and when armed with the right tools, it's much easier to sift through the bad advice.
Awesome your photography
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You've lost weight since I started watching
...okay.
for a moment i thought you where talking about TA trends and i was like " w00t ? "
This is a very important point to continue to make and I'm glad you're hammering it home for all the newbs that get caught up in majority beliefs.
Gotta repeat the good advice to drown out the bad sometimes :)
Some people say crypto is so full of jargon that It's hard to understand, and in some ways they are right, but Private Keys, well guess what; keep them private right?!
I guess we should call them Private Keys That You Must Not Lose and then it would be really clear, until someone makes an acronym PKTYMNL just to show how, you know, smart and cool they are.
So let's just leave it at Private Keys, and hope that just like the keys to your house, its pretty obvious that losing them or giving them to someone else is a bad idea.
There's still too many people storing their crypto on exchanges and saving private/seed keys in documents on their computer. So it's good when more people share their methods of storing their crypto securely. It's still a immature market, lots of knowledge to be provided and consumed.