What’s your favorite cold wallet at the moment and why?
#bitcoin #coldwallet
Discussion
I love hardware wallets.
They are especially important for active people who make transactions often.
But for storing the most important thing — the Bitcoin keys — I choose MiCrypt as my backup shield 🛡️
Custom encrypted • No visible words • Fire, water & prying eyes resistant
micrypt.shop
It's a new solution, so check it out and tell me what you think. What's your biggest concern with backups?
#selfcustody #privacy #coldstorage
Sounds like a cool option!
I’m not an expert on cold wallets but the 2 concerns I see right now are:
Reliance on centralized software, if the wallet can only be used through one centralized software and that software is compromised then it could be a problem.
Seed phrases being cracked by computing, as computing gets better I feel like it may be able to crack these shorter seed phrases (12 words) and get into wallets.
I’m sure there are some other concerns that I should be aware of but those are the 2 that come to mind.
In theory, there's logic to the quantum threat that everyone's worried about lately.
But keep in mind – if 128/256-bit entropy ever becomes vulnerable in the future, there will be a ton of problems and questions. Probably, as technology advances, the same progress will be used for protection in parallel.
On the software side, short version:
always stay vigilant about what you use, where you click and what you install. Open-source clients are preferable,
and that fear of potential leaks is actually super useful – it keeps you safe.