I always read about public keys,private keys and speedphrases that you need to store them in a paper wallet or hardware wallet. The only thing I ever stored are the passphrases (those 12 or 24 words) I get from metamask or other wallet provider in the beginning of creating a wallet. Is this enough when I write them down and secure them?

  • Lifter_Dan@alien.topBEnglish
    1·
    10 months ago

    Getting the 12/24 words from metamask is not the same as a paper or hardware wallet.

    Hardware wallet = Trezor or Ledger giving you the 24 words to write down. They are NEVER on your computer, thus hackers can never view/steal them. You still use Metamask, but metamask talks to your USB trezor and then you do the approval on the hardware device where no malware can touch it only you can approve. In contrast, any virus on your computer can read your screen, store whatever password you type into metamask and potentially even tell metamask what to do when you walk away from your computer.

    Paper wallet = old style wallet where you’d write down the phrases from a wallet created on a computer that does not have internet access (air gapped computer). You would then send some Bitcoin to that address and let it sit there until you’re rich at which stage you’ll have to use the key to transfer it to sell. Paper wallets aren’t really used anymore.

    Hardware wallet is recommended, and if you can read the docs about using a trezor passphrase on top of that it’s an extra step of security too that I’d recommend.

      • Lifter_Dan@alien.topBEnglish
        1·
        10 months ago

        Personally I don’t like ledger because they allowed a data leak, I prefer Trezor. But ledger does support more types of crypto.

        • ashketchup422@alien.topOPBEnglish
          1·
          10 months ago

          Damn yes I remember. I read about the leak. But Trevor is almost twice the price. I can’t spend almost $200 for a hardware wallet. Do you know any cheaper and secure wallets?

          • Lifter_Dan@alien.topBEnglish
            1·
            10 months ago

            Curious why it is too much for something you’d keep using for 10 years or more (I’ve had mine since 2017) then it might be a good idea to reconsider crypto, it’s well worth foregoing a night on the town or whatever alternative you would spend $200 on.