I have been risking and just keeping my coins in exchanges but I am in the process of withdrawing into a cold wallet - as I am now longer moving around / trading funds like I used to.
I'd recommend getting a cold storage wallet, or at least, that's what I am doing. I want to have some portion of my coins offline, it's just practical if have over $1,000 in anything.
I'm guilty of not holding onto my currency beyond the $1k mark. I've been taking my profits as they come, but have sat on that initial few hundred i invested last year. It's nice to see the markets move around. I'm still quite a newb when it comes to these things.
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It's a new frontier, and I can't say your right or wrong - but I would store the coin your holding in a hardware wallet if you can.
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sound logic! Something I'm sure I'd benefit from.
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Buy direct from the hardware producer, not third party sellers. It's safer that way.
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What do you use for your cold storage wallet? Do you have a particular piece of hardware that you use?
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Ledger Nano S, haven't set it up yet, but that's what I am going with.
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I'll have to look into that. How much do they cost?
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Around $100. They are a French company so they have to ship internationally, also ~ only order from the official Ledger wallet website, not ANY amazon or third party sellers - as people can tamper with them during shipping, only order from the official website - and then double check when you get it to make sure it wasn't tampered with.
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I've heard the rumor about a man backing up his life savings on a wallet he purchased from a third party. And got swiped. It may be a government scare tactic. Or it's likely happened more than once.
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Well if you buy from a third party, they might have already had access to vital information. Hardware wallets are safe, but if someone knew your bank pin they could cause a lot of issues, or in this case swipe your BTC.
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Wouldn't want to end up being that guy.
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