I am curious how this sub chooses to hodl their crypto. I have listed some of the most common methods from beginner to advanced. Which one is the best for you guys?
Beginner
- Hot Wallet - arguably the easiest method for hodling. create a new wallet on your favorite app and write down the seed phrase on paper in your drawer
Intermediate
- Hardware Wallet - a device that holds the private keys to your crypto and signs transactions without every keeping your private keys off any internet connected device
- Hardware Wallet + Passphrase - added level of security by adding a 13th/25th word. Adds the possibility of having multiple wallets attached to the same seed phrase, creating a dummy wallet incase the seed phrase itself is compromised.
Advanced
Multisig - having a combination of multiple hardware/software devices that are required for spending funds. Best combination for larger amounts and it separates the risk of having a single key compromised.
Multi-vendor Multisig - buying at least 3 different hardware wallets and generating 3 separate keys to secure your coins. This cid probably the most secure possible way to store coins at the moment. With the added ease of generating new keys if any are compromised.
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