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Question about securing hard wallet

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by COINS NEWS 79 Views

I’ve been in crypto for a while and have a small portfolio. If crypto dies and all my investments go to zero then I’m ok with that, it’s the risk I’m willing to take for a moon shot. ???? and I followed the advice to only invest what you can afford to lose. However I’d be really annoyed if I lost it all because I did something stupid. Especially if I did something stupid when I first started and didn’t realise until later.

Specifically I’m thinking about my ledger wallet. I bought it directly from ledger and then did a reboot anyway to ensure it was safe. However I’m not 100% confident that I haven’t compromised my seed phase in the early days, such as signing smart contracts. I know my seed phrase is written down safely where no one will see it. I know I never wrote it onto an electronic device. However I did experiment with delegation and staking of coins, creation of trustlines for airdrops etc often without knowing what I was doing. How else do you learn ????

I now want my ledger to be cold storage only for HODL. So that I only deposit coins until I’m ready to sell, then withdraw onto an exchange. Anything else will be done using online/hot wallets with smaller balances. I still want to learn.

So the advice I need is . . . Is it possible to create a new seed phrase on my ledger and transfer my coins onto the new, clean, safe account. Am I being paranoid? You’d think that if someone has access, my coins would be gone already. Is it safest to buy a new one and start again? Is there another solution that I’m too dumb to consider?

Thanks in advance for your assistance. All DMs will be ignored (I’m not completely naive)

submitted by /u/StarbugI
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