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What’s the best way to do cold storage? Any advice? Or link me to a legit video guide on doing it properly? #asknostr #help #coldstorage #bitcoin #crypto

Rich Nost 1y ago

People will say "Oh get this hardware wallet or that one."

What they don't tell you is that, eventually, you will need to replace your hardware wallet. That is because the special component (the security element) that makes your hardware wallet secure will eventually become obsolete and hackable. Cold Card is on Mark 4. Care to guess why Marks 1-3 are obsolete?

My practical advice is to, yes, get a hardware wallet. But practuce using it. Practice wiping it. Practice recovering it from a written or steel backup.

Also look into hardware wallets that can support recovering from a SeedQR code. I think blockstrem's Jade wallet is an interesting alternative to the security-element-oriented approach. And the Jade can be used in a "stateless" mode, where NO INFORMATION is stored on the ddvixe or a remote server -- you just recover from a hand-made SeedQR.

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Discussion

Rich Nost 1y ago

*ddvixe = device

Rahyndee 1y ago

I really appreciate the advice. I am still kind of a newb. Is the Jade beginner friendly ?

Rich Nost 1y ago

I find it easier to use than a ColdCard. But it has its clunkiness.

The ColdCard is like a fat ass Swiss Army knife full of utility bits you will never use. The navigation is clunky. The input mechanism is dumb in the way you would expect an engineer to design it. It's not impossible to use and its core function as a hardware wallet is solid, but there is no user experience joy to be found in it.

Rich Nost 1y ago

The advantage the the ColdCard is that every noob has been bullied into buying one foe street cred, so there are tons of people who can help you survive its shit user experience ethos.