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What's your preferred method for HODLing?

All Cryptocurrencies

by COINS NEWS 88 Views

I am curious how this sub chooses to hodl their crypto. I have listed some of the most common methods from beginner to advanced. Which one is the best for you guys?

Beginner

  1. Hot Wallet - arguably the easiest method for hodling. create a new wallet on your favorite app and write down the seed phrase on paper in your drawer

Intermediate

  1. Hardware Wallet - a device that holds the private keys to your crypto and signs transactions without every keeping your private keys off any internet connected device
  2. Hardware Wallet + Passphrase - added level of security by adding a 13th/25th word. Adds the possibility of having multiple wallets attached to the same seed phrase, creating a dummy wallet incase the seed phrase itself is compromised.

Advanced

  1. Multisig - having a combination of multiple hardware/software devices that are required for spending funds. Best combination for larger amounts and it separates the risk of having a single key compromised.
submitted by /u/reputablepanda
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