I recently learned that you don’t need hardware wallets for cold storage. I was surprised to find out that you can use a paper wallet or even a USB drive to store your cryptocurrency. This is great news for those of us who don’t want to invest in a hardware wallet. Does anyone else have experience with cold storage methods that don’t involve hardware wallets? I’d love to hear your thoughts!
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For good self custody there is no TL;DR.
Nice post OP, didn’t know about that.
This is the type of posts that we need here, good technical information and none of this hackers scammers bs
As you predicted, I have no idea what I am doing
On the other hand, this may be overkill if you don’t have a lot of money in crypto, but it can’t get any safer.
I used something similar without success for my Monero holdings but fucked up somewhere in the process… Either way very very detailed guide and saved for my future tries
The piece of paper torn from a dominos pizza menu that I scrawled the passphrase for my main wallet on three years ago is looking pretty bad right now
If you don’t have a spare PC or laptop, something like a Raspberry Pi is a very nice “crypto computer” you’d never need to connect to the internet again after setup. It’s just a ARM PC (running a basic linux), so you need keyboard and mouse. Most should have that.
What OP writes here is accurate and actually the most “cold” was to store crypto, but for that you are never allowed to connect the system to the internet. As soon as it’s online, you can’t know for certain the seed wasn’t stored in some temporary filed and could potentially be compromised.
That’s … that’s quite a lot of details for ‘basic requirement’, don’t you think ?
But nevertheless, thank you OP for the detailed explanation for those who want to master self-custody
I am the type to go with convenience, but I gotta admit this is fascinating. Nice tutorial, OP!
That’s the kind of needle in haystack posts I come here for, very good write up OP!
I’m not confident enough to try it yet, but it’s a nice and detailed writeup!
You’ll be telling us we don’t need to spend $100 on a piece of metal to write our seed phrase on next!
Great post OP, I do something similar to this myself and highly recommend if you only plan to HODL
This is some technical stuff, gna have to save this post and read it another 10 times to make sure I understand it
This post is brilliant and well detailed, thanks for this OP. I’m definitely saving this, and even though I’m not as tech savvy as I’d like I might give a try at your process !
If you put your seed in the refrigerator does it become a cold storage? ( ͡° ͜ʖ ͡°)
But seriously now, i took my seed and encrypted it into 3 usbs using AES-256 on a cold fresh install linux machine, then i hid then in 3 different locations to make sure i don’t get rekt by a natural disaster, i think i’m okay.
A similar procedure is also explained by the BitBox team on their official site but for the average person is a lot better using a good hardware wallet, most of the people have troubles using a simple browser, I can’t imagine how difficult it must be the method described above.