Anyone own "physical" CRYPTO? (any/every COLD STORAGE option) | Crypto Craft

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Anyone own "physical" CRYPTO? (any/every COLD STORAGE option)

  • #1
  • First Post: Aug 6, 2019 3:18pm Aug 6, 2019 3:18pm
Hi, hope this is the right thread (section)... But is here anyone holding/storing "physical" CRYPTO coins.. aka COLD STORAGE
aka.. just in some HARD form.. without being dependant on any online wallet ETC?

I am seeing this option rather interesting...

It was, displayed in a good TV series... Billions (2016)... that is getting stronger about crypto.. by the day..
At the moment they promote, very much so... blockchain voting... which is believed to be (one) of the FIRST... in such/any series...
I personaly believe, judging by what I might know... that they are as close as reality as possible... at least to financial world...
I see it similar to Mr. Robot (2015) series, just financial (hedge fund) edition

"one million dollars straight in crypto, in cold storage"
https://bitcoinexchangeguide.com/led...lions-tv-show/
Attached Image (click to enlarge)
Click to Enlarge Name: DcloELOWsAE-5l3.jpeg Size: 26 KB

Direct twitter link to the pic.

BTW, I think I am rather "strong" on the mentioned (Billions) TV series, if you have any questions

So, if anyone uses or knows anything about it...

What would you recommend for COLD STORAGE of crypto...
You can even expand this a little..
What overall method would you use to BUY and COLD STORAGE crypto as anon as possible
Can you afford to take that chance?
  • #2
  • Aug 6, 2019 6:37pm Aug 6, 2019 6:37pm
Quoting auricforecas
"one million dollars straight in crypto, in cold storage"
https://bitcoinexchangeguide.com/led...lions-tv-show/
Man, I need to check that show out! Thanks!

Quoting auricforecas
Hi, hope this is the right thread (section)... But is here anyone holding/storing "physical" CRYPTO coins.. aka COLD STORAGE aka.. just in some HARD form.. without being dependant on any online wallet ETC?
I have all of my cryptocurrencies in cold storage. I have two devices that are in a vault, disconnected from the world. The devices (ledger nano and trezor) don't store anything other than the private keys.

There's not a way they can get hacked when your device is offline or in cold storage. The only time they are connected to the computer is when making transactions, either to send or receive. There's a pin to enter your device every time you use it. Also, there are processes that require you to manually hit buttons on the device to confirm before sending. Even while the device is connected to the computer, it's pretty secure. Although, I still don't keep any connected unless I'm transacting because who knows what these hackers are capable of.

If you were to ever lose a device or it broke, you could restore the configuration by using a series of words (in order) that you save during setting up the device. The series of words is called a recovery phrase and it's what unlocks all of your private keys. The recovery phrase is the most important thing, not the device. I have my recovery phase strategically saved on other devices that are disconnected from the internet, no bluetooth, etc. I also have the physical sheet of paper in the vault with my recovery phrase. I'm not sure all that's actually necessary, it just depends on how many back up plans you like to have.

I'd never use an online wallet and let my information sit anywhere on the internet. The only time I would do that is if it's an insignificant amount of crypto that I use frequently for sending and receiving. That's mostly for fun and it's not bitcoin. My 'play' wallet is for my Doge crypto.

I'm not sure how well I explained it. I learned all this pretty much on my own and it took me longer than I'd like to admit. One thing I will say, I didn't understand the potential of crypto until I actually used it. It's definitely going to be part of our future.
  • #3
  • Aug 6, 2019 9:32pm Aug 6, 2019 9:32pm
Haha great thread! I saw that episode too!

I have my coins in cold storage. The way I do it is by installing ubuntu on a USB drive. You can google for the exact instructions, but I warn you it's not easy! The way TwoSense is doing it is the easier route, but you have to have some faith in the device.

Good luck let me know if you have any questions I'll do my best to help.
  • #4
  • Aug 7, 2019 2:18am Aug 7, 2019 2:18am
Over 98% of my bitcoin are in cold storage. Hardware wallets (Trezor, Ledger, KeepKey) are the most secure way to store your crypto assets. And remember, if you don't control the private keys or recovery seed, you are not in control of your bitcoin.
Money = Labour coupons
  • #5
  • Aug 7, 2019 2:22am Aug 7, 2019 2:22am
Quoting TMR
Hardware wallets (Trezor, Ledger, KeepKey) are the most secure way to store your crypto assets.
I'd have to disagree with that TMR. Making your own hardware wallet with USB thumb drive puts you more in control, and gives you greater understanding of how the storage is structured.
  • #6
  • Aug 7, 2019 10:30am Aug 7, 2019 10:30am
Quoting TMR
And remember, if you don't control the private keys or recovery seed, you are not in control of your bitcoin.
I wish more people were aware of this
  • #7
  • Aug 7, 2019 10:53am Aug 7, 2019 10:53am
As RageTheory so eloquently put it: Keeping bitcoins in an exchange is like keeping your nuts in anything other than your nutsack.
  • #8
  • Aug 7, 2019 12:20pm Aug 7, 2019 12:20pm
Quoting auricforecas
Hi, hope this is the right thread (section)... But is here anyone holding/storing "physical" CRYPTO coins.. aka COLD STORAGE aka.. just in some HARD form.. without being dependant on any online wallet ETC? I am seeing this option rather interesting... It was, displayed in a good TV series... Billions (2016)... that is getting stronger about crypto.. by the day.. At the moment they promote, very much so... blockchain voting... which is believed to be (one) of the FIRST... in such/any series... I...
I have most of my crypto in cold storage.

I have not seen billions but I love Mr. Robot, need to catch up on a few episodes though.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #9
  • Aug 7, 2019 4:18pm Aug 7, 2019 4:18pm
Quoting Goat
{quote} I'd have to disagree with that TMR. Making your own hardware wallet with USB thumb drive puts you more in control, and gives you greater understanding of how the storage is structured.
Yeah, I tend to be on your side atm... I would like to have REAL COLD STORAGE.. without having certain parts somewhere else exposed etc...
What would you recommend for REAL cold storage... I know some are claimed as COLD STORAGE.. but they are not....
So yeah, interested in making own hardware wallet with USB thumb drive.... Suggestions (good practices) much welcome...
Can you afford to take that chance?
  • #10
  • Aug 7, 2019 5:11pm Aug 7, 2019 5:11pm
Quoting auricforecas
{quote} Yeah, I tend to be on your side atm... I would like to have REAL COLD STORAGE.. without having certain parts somewhere else exposed etc... What would you recommend for REAL cold storage... I know some are claimed as COLD STORAGE.. but they are not.... So yeah, interested in making own hardware wallet with USB thumb drive.... Suggestions (good practices) much welcome...
An alternative approach is a paper wallet, it'd go something like:

  1. Generate paper wallet
  2. Print your paper wallet
  3. Buy coins on exchange
  4. Send coins to paper wallet
  5. Lock paper wallet away somewhere safe and secure

Personally not keen on this approach (paper is fragile) but it's secure (depending where you store...), just make sure you generate and print while disconnected from the interwebs

  • #11
  • Aug 8, 2019 4:35pm Aug 8, 2019 4:35pm
Quoting Hasher
{quote} An alternative approach is a paper wallet, it'd go something like: Generate paper wallet Print your paper wallet Buy coins on exchange Send coins to paper wallet Lock paper wallet away somewhere safe and secure Personally not keen on this approach (paper is fragile) but it's secure (depending where you store...), just make sure you generate and print while disconnected from the interwebs
Tnx man, but I think I would much prefer for FULL COLD STORAGE, like storing on USB... I do not want anything elsewhere... not in some exchange, some "service" for storing the wallet with some keys/words... Nothing... just pure OFFLINE COLD STORAGE...

I find this method rather interesting.. https://en.bitcoin.it/wiki/How_to_se...savings_wallet
Any objections from anyone? Got better idea, from practice? Because yes, devil is in the details... Therefore I would much appreciate for FULL SPECs... what works best together... even USB type/model if possible just to highlight my point
Can you afford to take that chance?
  • #12
  • Aug 8, 2019 4:56pm Aug 8, 2019 4:56pm
Quoting auricforecas
{quote} Tnx man, but I think I would much prefer for FULL COLD STORAGE, like storing on USB... I do not want anything elsewhere... not in some exchange, some "service" for storing the wallet with some keys/words... Nothing... just pure OFFLINE COLD STORAGE... I find this method rather interesting.. https://en.bitcoin.it/wiki/How_to_se...savings_wallet Any objections from anyone? Got better idea, from practice? Because yes, devil is in the details... Therefore I would much appreciate for FULL SPECs... what works best...
Well a Ledger or Trezor are cold storage solutions. The most offline thing you can do is a paper wallet, here's more details on that: https://99bitcoins.com/bitcoin-wallet/paper/
  • #13
  • Aug 8, 2019 4:58pm Aug 8, 2019 4:58pm
Quoting Hasher
{quote} Well a Ledger or Trezor are cold storage solutions. The most offline thing you can do is a paper wallet, here's more details on that: https://99bitcoins.com/bitcoin-wallet/paper/
Tnx man, I will study it carefully... if it is really what it appears to be, without some (vital) parameter be "somewhere" at some provider... or too exposed... and/or high-prob to be lost/stolen/destroyed.... Will let you know if it goes trough over my stress-test scenarios
Can you afford to take that chance?
  • #14
  • Aug 8, 2019 5:28pm Aug 8, 2019 5:28pm
Quoting auricforecas
{quote} Tnx man, I will study it carefully... if it is really what it appears to be, without some (vital) parameter be "somewhere" at some provider... or too exposed... and/or high-prob to be lost/stolen/destroyed.... Will let you know if it goes trough over my stress-test scenarios
Awesome! Let me know what you settle on or if you got more questions
  • #15
  • Aug 8, 2019 10:21pm Aug 8, 2019 10:21pm
Quoting auricforecas
{quote} Tnx man, I will study it carefully... if it is really what it appears to be, without some (vital) parameter be "somewhere" at some provider... or too exposed... and/or high-prob to be lost/stolen/destroyed.... Will let you know if it goes trough over my stress-test scenarios
Same as Hasher above. I'd be interested what decision you eventually make. Maybe it'll make a HODLer reconsider what device is storing their crypto.
  • #16
  • Aug 9, 2019 4:31am Aug 9, 2019 4:31am
Quoting TwoSense
{quote} Man, I need to check that show out! Thanks! {quote} I have all of my cryptocurrencies in cold storage. I have two devices that are in a vault, disconnected from the world. ...
You can never be too rich, too thin or too safe.
  • #17
  • Aug 9, 2019 6:36pm Aug 9, 2019 6:36pm
IMVHO, one needs at least two copies of the hardware device or paper wallet and keep them in different locations.
  • #18
  • Aug 9, 2019 8:11pm Aug 9, 2019 8:11pm
Quoting yg10
IMVHO, one needs at least two copies of the hardware device or paper wallet and keep them in different locations.
Agreed, I bought a second ledger as a secondary backup unit and also to test the recovery seed worked as expected. Testing it on the initial device would work, but had I got it wrong.....
  • #19
  • Aug 9, 2019 9:24pm Aug 9, 2019 9:24pm
Quoting yg10
IMVHO, one needs at least two copies of the hardware device or paper wallet and keep them in different locations.
To add to that, the two hardware devices should be different, if possible. Diversify! I've got the Ledger and Trezor.
  • #20
  • Aug 11, 2019 2:19pm Aug 11, 2019 2:19pm
Quoting Hasher
{quote} Agreed, I bought a second ledger as a secondary backup unit and also to test the recovery seed worked as expected. Testing it on the initial device would work, but had I got it wrong.....
Yeah, thats what I was talking/asking about I just want to see the whole picture, with all the parameters... details... as possible..
Because one thing has to be tested completely... as is... because sometimes you change just something "little".. and the whole (pictures) collapses...

Will sure post about my findings, would just like to say that as of now, I know that much not to post it too soon Will test it completely... with many stress-tests... and recoveries.. and will provide full details, even full hardware and software spec... Because one thing can change everything, not so rarely does
Can you afford to take that chance?
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