Paper wallets are the safest way to store cryptocurrency.
That’s a generalization, and of course the “safest” way to store tokens varies depending both upon your circumstances and what you consider safe. But generally peaking, depite numerous debates that will undoubtedly continue, the fact remains this is the most secure method for storing cryptocurrencies. That’s because you minimize the electronic attack surface, reducing the defense to the physical realm.
There are dangers and pitfalls with paper wallets to be fair, but they are entirely avoidable. That’s what this post is all about – debunking the popular notion that paper wallets are a good choice in theory, but not in practice! Let’s see how it goes, and please – to the makers of hardware wallets, I use your products and love them, it’s not personal.
Continue reading “Paper Wallet Myths Debunked!”
Litecoin Cash is a fork of Litecoin, that began a few days back at Litecoin block 1371111. They will revert to SHA256 for their PoW algorithm in order to make their blockchain more appealing to the miners using those ASICs.
To existing Litecoin hodlers they’re offering 10 of the new token Litecoin Cash (LCC) for each Litecoin (LTC) held at that time – whether you agree with this change of consensus mechanism or not.
If you have a Litecoin when block 1371111 is published, you can claim 10 free LCC tokens, currently worth who knows. Imagine two chains sharing the same history in which you have 1 Litecoin at that address, but in the new blockchain it’s become 10 LCC instead. All you need to do is send the new tokens to yourself.
Continue reading “LTC Hodlers: How to claim your free Litecoin Cash”
I’ve tried most of the hardware wallets out there, and I’m passing along my experience with them – one by one. I recently purchased a Digital Bitbox, and I’m loving it, so let’s begin there.
This device is an USB mass storage device with a micro-SD card that is used to backup the private keys to your wallets. The industrial designers did some amazing work here – its form factor is basically that of a slimmed down USB thumb drive with a slot in the side for the micro-SD card slot, an LED and a corner hole to let you carry this on a keychain.
For me, the Bitbox’s form factor is the best of any hardware wallet. Having said that it’s larger than the Opendime product and it does not have the graphic display of Trezor and Keepkey, and the added security that enables. Lacking a display and the wider footprint that goes along with it means this is lean and probably more durable over time.
Continue reading “Hardware wallets: Digital Bitbox”