Top 6 Best Ways To Store Your CRYPTO!! How To Stay Safe!!
Published: 2023-10-22
Status:
Available
|
Analyzed
Published: 2023-10-22
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Emphasizes that correct storage is essential for crypto security.
"The truth is you can never be certain that your crypto is safe unless you are storing it correctly."
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Leaving crypto on exchanges carries risks of loss due to exchange collapse.
"When you leave your money on an exchange you're effectively trusting that exchange to keep your funds safe and you're taking a chance that the exchange won't collapse."
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Instances like Celsius, BlockFi, and FTX demonstrate that large exchanges can collapse, leading to loss of client funds.
"even large and supposedly responsible exchanges and other such custodial platforms can fall apart in what seems like an instant Celsius blockfi FTX and others went down the plug hole with client funds following in their wake"
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Exchanges, even if well-managed, are vulnerable to hacks.
"even if exchanges don't collapse and are well-managed they still face security risks principally hacks"
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Self-custody means the user solely controls their private keys.
"self-custodial also known as non-custodial wallets that means you and only you have control over the private keys to your crypto"
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Trust Wallet has a strong security record with no known hacks or breaches to date.
"The Cornerstone of any credible wallet trust wallet has an Immaculate track record to our knowledge there has been no hack or breach to date"
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Trust Wallet supports over 9 million digital assets across 80 blockchains.
"it supports more than 9 million digital assets including nfts across 80 blockchains"
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Exodus Wallet has no recorded hacks or breaches.
"like trust wallet Exodus boasts no recorded hacks or breaches"
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Exodus Wallet supports over 360 assets, including cryptocurrencies and NFTs.
"Exodus supports over 360 assets from well-known cryptocurrencies to nfts"
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Hot wallets, being internet-connected, are susceptible to hacking.
"hot wallets are connected to the internet also makes them susceptible to security threats like hacking"
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Hardware wallets keep private keys offline, isolated from online threats.
"your private Keys reside in a cold environment on these gadgets meaning they're isolated from the online world and avoid common malware threats"
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Purchase hardware wallets only from official stores to prevent receiving compromised devices.
"Hardware wallets should always be bought from official stores to avoid the risk of being sold a compromised device from unauthorized sellers"
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Engrave Zero is the first EAL7 certified hardware wallet, the highest security certification for blockchain and finance.
"the engrave zero is the first Hardware wallet in the world that is E7 certified which is the highest security certification in the world for the blockchain and financial industry"
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Engrave Zero uses an innovative seed generation mechanism with a sensor to maximize randomness.
"its seed generation mechanism is highly innovative using the highest level of Randomness I won't go into all the details here but it uses a sensor to detect lighting to maximize the randomness of the seed phrase"
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Engrave Zero plans to increase token support and offer staking services.
"in its road map there are plans to increase the number of available tokens and also offer staking Services"
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Ledger will soon launch Ledger Stacks, their most sophisticated wallet device.
"they're soon to be launching Ledger Stacks which promises to be their most sophisticated wallet device yet"
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Ledger Nano X has an 8-hour battery life.
"the device has an 8h hour battery life which isn't amazing but isn't bad"
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Ledger wallets support 5,500 coins and are compatible with over 50 other wallets.
"we're talking support for a whopping 55,0 coins and compatibility with over 50 other wallets"
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In 2020, Ledger's user database was hacked, compromising emails.
"in 2020 they did suffer a hack of their user database where emails were compromised"
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Ledger faced controversy in May 2023 over the introduction of the 'Ledger Recover' feature.
"the controversy that ledger faced in May of 2023 surrounding the introduction of a new feature named Ledger recover"
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Users worried that the Ledger Recover upgrade could lead to private key exfiltration.
"users were concerned that the upgrade required to make the recover Feature work would allow for the exfiltration of private keys"
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The Ledger Nano S+ is priced at $79.
"the Nano s+ and Nano X are priced at $79"
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The Trezor Safe 3 has just been released, 10 years after Trezor's founding.
"the treasure safe 3 it's just been released 10 years after Tresor was founded"
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Trezor Safe 3 supports over 7,000 digital assets.
"the treel safe 3 is extensive it can store the keys to over 7,000 digital assets"
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The Trezor Safe 3's secure element is protected by an EAL6 certified chip.
"the secure element in the device is protected with an E6 certified chip"
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Trezor Safe 3 is fully open-source, allowing independent code vetting.
"it's also fully open source which means that people can vet the code independently"
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Trezor Safe 3 features a Shamir backup scheme.
"the treasure safe 3 also has a Shamir backup scheme"
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Trezor Keep Metal will allow users to punch seed words into a steel cylinder capable of withstanding extreme conditions.
"treaser will also be releasing the treasure keep metal now this device will allow you to punch the seed words in a steel cylinder and it can survive well pretty much whatever you can throw at it"
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Trezor Keep Metal is waterproof, resistant to corrosion, and extreme temperatures.
"the device is quote waterproof resistant to acid Alkali and chemical corrosion and extreme temperature resistant"
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The Trezor Model 1 is priced at $69.
"more than the Tresor 1 which is priced at $69"
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The Trezor Model T is priced at $219.
"but less than the Model T which goes for $219"
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Trezor Safe 3 is currently on pre-order and will ship in the coming weeks.
"the treasure safe 3 is only available on pre-order at the moment and will be shipped in the coming weeks"
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Only 2% of the 420 million crypto users utilize hardware wallets.
"there are apparently 420 million crypto users but only 2% of them use Hardware wallets"
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Securely storing seed backups is critical, as losing them means no chance of recovery.
"you must make sure your seed backups are kept safe if you lose them that's it there's virtually no chance of recovery"
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Never store seed words online due to the risk of hacks.
"do not do not keep your seed words online as that can expose them to hacks"
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The Shamir backup scheme on the Trezor Safe 3 offers a solution for redundancy.
"that Shamir backup scheme for the treor safe 3 is the answer"
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