Keep your cryptocurrency investments safe. Are you aware of all the options and nuances? Have you profiled your needs? Is your crypto safer on apps or exchanges ...or is it better if you take control of your own storage?
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.
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
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
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