Crypto Security
One of the things I’ve been learning about and diving more into with crypto is cold storage as I’m intending on HODLing for years and have a “never touch” amount unless it’s absolutely essential. But having read about all the different hacks on various platforms, which are commonplace by the way, it’s made me think a lot more about keeping that valuable crypto as secure as possible. Yes, there are cold storage devices like Ledger or Trezor where you can store your crypto on an encrypted USB stick but I’ve read many articles and watched several videos where they are all up for taking security one step further.
Crypto Tags
A site that was mentioned is “Crypto Tags” that make Titanium plates that you can use to keep your seed phrase for your most precious wallets safe and secure. For those who don’t know, Titanium is a metal with far superior spec to steel and Crypto Tags have footage showing their 6mm plates are bullet proof! Literally!
There are tutorials on their site on how to use this all but you might think this is overkill. You’ll probably end up spending more on crypto storage than the actual crypto you want to store instead! However, as CoinBureau pointed out in one of his videos, if you’re getting in to crypto, it’s on you to keep your funds as safe as possible and he doesn’t want to feel that he didn’t do everything he could to protect his funds!
Paper Wallets?
I get it, writing down your seed phrase on a sheet of paper is all well and good but paper degrades and if, heaven forbid, you have a fire, then that written down seed phrase can join the ash pile. Water spillages or something else can also cause an issue.
Deep Freeze
Then having safety deposit boxes around the world were mentioned with and splitting your seed phrase across different boxes and it’s like, that’s some serious deep freeze storage these guys have! However, if you don’t intend on ever selling and holding for decades or passing your crypto down to your children, perhaps this “Deep Freeze” storage is the way to go?
Spreading Risk
As with anything to do with spreading risk, you can always have little bits and pieces here and there and not put everything in to one basket which is never a bad call. Having some in cold storage, deep freeze, on exchanges, in lending platforms, hot wallets, defi, Hive/Leo etc is a good way to make sure that if you lose one, you still have access to the rest.
Of course, there is a risk is that every possible location you have it in somehow causes you to lose all your crypto and you’d be desperately unlucky if that were to happen but hopefully you never invested more than you could afford to lose in the first place!
What is your take on “Deep Freeze” storage? Do you have your crypto in various places or is it all lumped in one place? Let me know in the comments below!
Stay cool!
Nicky
