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How to Keep your Cryptocurrencies Safe

1626 ratings | 76531 views
This video outlines different ways of keeping cryptocurrencies, from the safest paper wallets to hot wallets on your phone. This video is meant to be a brief introduction to each method, with the advantages and disadvantages of each. Note : Safety is the responsibility of the user and additional research should be done on each method. 💪Donations: Bitcoin : 13EvsPm3YhiCPGksQQdvQUFtsbF8FoU6Cz Ethereum: https://etherscan.io/address/0x58d98516363D2A5f93CE6aB4A4a909599C3EEC3a DASH: XcAREQEEunvv6rJza9LKDzdyjZ1BwBN2iK Litecoin: LXeXUr2Hr3ePgHb9aDjr4QdqA4DPXoTarU NEM: ND6WRNN2W2AZLON65EGI3Y46M4TWP3HNKSB4BGW2 Decred: DsgsSqYF2oSZ5MJeoqiEMyeJdWhdvWk8A4s Save on Amazon with Purse.io https://purse.io/?_r=Fxj40g Exchanges: CoinBase: https://www.coinbase.com/join/590c3a1c8bfa31012ffacf87 Poloniex: https://poloniex.com Wallets: Windows: http://exodus.io USB wallet: https://www.ledgerwallet.com/r/428b ♨️Social: http://boxmining.com Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining
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Text Comments (272)
Michael Dacon (6 days ago)
Michael! Back at it again with the value content. Thanks man! I had made a 2018 updated version video on the top crypto wallets if you guys need a different/updated perspective. Have a great day guys!
supertrader77 (12 days ago)
okay if it’s a paper wallet and the currencies are still sitting on the exchange you bought it from, how do you put them on a paper wallet a wallet and then how did they get off the exchange ?? Can you use the normal hard drive off-line as well
Elio Bruno (16 days ago)
You are awesome...thank you.
Ryan a (26 days ago)
Hi How can you store non erc20 tokens on a wallet or is this not possible ? Thanks
I En (29 days ago)
Hi I’m a newby, I wanna Buy altcoins, what are step by step ways I can store them? So new to this😳
Freedom Joe (1 month ago)
I get where the key is but where is the crypto? I still don’t get it 🤔. Is the key the crypto?
HVTGamer (1 month ago)
Is binance app and Brower safe to store them?
Kylie Barker (1 month ago)
The best way to keep cryptocurrency safe is using Cyrptocurrency Hardware Wallet because of its Offline feature keep your cryptocurrency safe. If you don't want to use Hardware wallet then go with reputed Online wallet like Coinbase, Whaleclub etc. and must read the reviews before choosing the best wallet only at http://coinsesame.com
Brent Willis (2 months ago)
Hi could you do a review on the NAGA wallet now it’s been released? I’d love to hear your take on NAGA and it’s ecosystem
borg386 (2 months ago)
Nano S is a pain to use and only has about 7 coin support.
Thomas Arbec (2 months ago)
I still don't know how to scan a QR code.
Psaikodelik (2 months ago)
If you live with friends or other people that know about security seeds. Take your 12/24 words, and make a short story or essay with those words. Use 4-7 different colors to write the entire story, and write all the seeds with the same color. You can stick this to a wall and nobody will ever guess what it is, only if they have read this comment :P
Psaikodelik (2 months ago)
Private key is the most important fing in the world
FeelFree3 (3 months ago)
I heard actually Ledger Nano S has 12 phrase backup keys.
Judy Copp (3 months ago)
Thank you Michael. Much good information.
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772lilsami (4 months ago)
Hi I have a question. When you buy a bitcoin and put it in a paper wallet do you know how I can directly put the bitcoin from my wallet into Gdax exchange and cash that bit coin through Gdax to American USD or do I have to transfer my bitcoin from my paper wallet to block chain and then from block chain transfer to Gdax and then cash out. If you know how to do this please show me how because this is kind of confusing
772lilsami (4 months ago)
Hi I have a question. When you buy a bitcoin and put it in a paper wallet do you know how I can directly put the bitcoin from my wallet into Gdax exchange and cash that bit coin through Gdax to American USD or do I have to transfer my bitcoin from my paper wallet to block chain and then from block chain transfer to Gdax and then cash out. If you know how to do this please show me how because this is kind of confusing
wchris west (4 months ago)
what about coins/tokens that can't be put on trezor, mew, nano, etc. Is there an easier way to store them versus downloading each individual wallet like neo and other coins that are not erc20 and can't be stored on trezor, nano, etcl? I have a lot of coins on exchanges that I really dont know what to do with and don't want to have lots of diff wallets. any advice?
SpartanZombie (4 months ago)
so I'm simply pointing this out but if that really is your private key all someone has to do is screenshot it then print it out.so probably not the best idea to show that on youtube
The BigPicture (4 months ago)
can't hackers crack the site that generated the offline wallet and move the founds with the data stolen from the site?
priyanshu kakkar (4 months ago)
great video. if you want an easy tutorial on wallets visit: www.traderipple.in
michael barth (4 months ago)
If I hacker obtained your private key how would they know what wallet that key fit? Is there a universal way of using a private key? Would a hacker have to try out every wallet in a random way to find what the key was to?
chupacabra20 (4 months ago)
I know i am gonna ask a noob question but where does the cryptomoney go once you store the keys (or phrase) on your paper?I mean it cant just disappear and be "nothing" and once you enter the keys it becomes money?
Freedom Joe (1 month ago)
chupacabra20 Thats the same question i have i mean its data right where does the data go? On the paper?
COOL KOOL (4 months ago)
i have 30 coins in manyu exchanges so i want to secure that in one wallet but many wallet not listed many coins ? so wht to do where to store all my coins "?
Jean-Paul Paix (4 months ago)
Hi I just ordered a Nano S just to find out that some of my currencies are not supported obviously excepted Bitcoin and Ethereum but some aren't so my dilemma is how to keep all the others safe, and when you say "a private key" is that for every coin "you need a different key" or or can it  be for the entire wallet??? Thanks
Frank G. (5 months ago)
Hi Michael, great video! Whats your thoughts on https://walletgenerator.net/ Is it safe to use, as they have various coins available to store on the papper
nk pont (5 months ago)
great video. I have 2 questions. I have a ledger nano s but only certain amount of coins are on the list.....is there a way to add other coins? my other question is..the paper wallet...which website is best to have this produced and can the paper wallet be used for any cryptocurrency. thks
Green blue (5 months ago)
how is a bitcoin wallet itself on a mobile phone?
Kay See (5 months ago)
If I store $100 in bitcoin on my bitcoin paper wallet or offline wallet for long term would it increase in value if bitcoin prices increase in 1 yr or would I have the same $100?
Thought Thug (5 months ago)
l have some cryptos on Coinbase, but NO idea how to have a wallet, or what to do with it if l did... 😢
Artist Group (5 months ago)
I would like to see an instructional about how to use an android device offline as a wallet. Usb backup, etc.Seems this would be a good idea.
Joshua Nagel (5 months ago)
Hey man. What if I use exodus wallet on a usb stick? If my usb is not plugged in, can it still be hacked?
Adam Swenson (5 months ago)
Thanks! That was really helpful! :)
M P (5 months ago)
@boxmining I have created a whole new alphabet system (replaced every character and number with a made up shape like #Hireroglyph) to write down my #privatekeys on #paperwallet and have various copies in few different places. The awesome thing about this is even if someone steals it they won't be able to read it. If you are into #cryptocurrency I suggest you do the same.
futur Elegance (2 months ago)
good idea, but where do you keep the hieroglyphic code? I think you just moved the problem altough you stepped up security.
usman siddiqui (5 months ago)
Can i sell my crypto currency from other exchanges? from where i did not buy i mean the same exchange, let say i have 20 ripples in bitstamp and can i sell these 20 ripples on karaken etc...?
David C (5 months ago)
Isn't this info available on public blockchain ledger
Andy Raman (5 months ago)
Thank you sir
Paul Mill (5 months ago)
Too much repetition!!!
BrightFreeStyle (5 months ago)
You look like you from thailand
Ilovejesus (5 months ago)
do you use bitaddress ? but what if bitaddress site is down some day or be taken out by the gov ... then what happen to all the stuff we store in there ?
Mark Todd (5 months ago)
Jaxx Wallet is a scam. Apple features them in the APP STORE. Once you deposit funds they will not allow you to send funds out. Jaxx Wallet is a scam with backdoor locks.
Maquidou F2F (5 months ago)
How or what can we use for storing cheap coins at the moment? For example, RDD, XMY and so on.
amir amir (5 months ago)
I subscribed
Mizelleful (5 months ago)
Boxmining, would you recommend storing your currency on the exchanges like binance which also provides benefits like limit sell and buy while your currency is on their exchange ? What are the odds that you will lose money is there a statistical guidance ? Also I noticed on binance transfers/withdrawals one way is 0.001 BTC for bitcoin and 0.01 ETH which is rather high if I were to transfer back and forth. For a smaller amount of money under $8k that's a significant portion. What are your thoughts thanks
sean808080 (5 months ago)
Mizelleful the answer to your first question is NO.
Heriberto Valentin (5 months ago)
Do I have to have my coins in the exchange to make profit Or can I keep it in my paper wallet at all times
OrionWinters (5 months ago)
Thank you for a great explanation about wallets and security.
Inphiknit fractal (5 months ago)
Andreas Antonopolous makes a lot of sense.. Keep small amount on phone for daily / weekly spending. Larger amounts on hardware or paper wallets. (& obviously keep your recovery phrases safe, having multiple copies.)
cr8ive (6 months ago)
ZipYour Lib (6 months ago)
Great Vid...
MJWorksEasy (6 months ago)
Question: If I bought two Nano Ledger S hard wallets, one for me and one for my wife, can I install them both on my (one) computer or will that somehow confuse the program or confuse the App?
IIAlbertII (6 months ago)
Hypothetically... if coinbase created you a wallet....and they went under or scammed everyone...do you 100% own that wallet in the exchange (coinbase) or they own that? So if they go under do they take your money. Or you still own that wallet with doller amount........its possible Madoff from wall street stole over billion dollers in ponzi scheme.
sean808080 (5 months ago)
IIAlbertII if they maintain the private key then they are the third party that crypto currencies were made to avoid. Best not to store funds on a third party service.
Sandy (6 months ago)
thanks very nicely explained
Mo6 (6 months ago)
can you just disconnect the internet from your desktop every time you don't need it?
Javier Mayberry (6 months ago)
Moy6 yes you can just disconnect from your home network
Thomas Jepsen (6 months ago)
Evolution will force user to another wallet since exodus has insane high fees. So. no worries. Good day you.
Conway79 (6 months ago)
How do you transfer currency from an exchange to a wallet? Is there ever a charge for doing it?
Fry Pan (6 months ago)
how cool are boobs
Trader Unlimited (6 months ago)
Is this video relevant on 08.12.2017 ?
Gigaloader (6 months ago)
Isn't every wallet "hot" at the time of the actual transaction!? Isn't the cold wallet hackable through the online device at the time of the transaction.....by taking a a photo of the barcode or keylogger software.
AMAN (6 months ago)
Really appreciate covering this. Very straightforward & to the point.
Lim Jian (6 months ago)
Buy Bitcoins with Visa Or Mastercard https://goo.gl/SPrs81, you can also withdraw money direct to your card
Jens K (6 months ago)
If you lose your Trezor: 1) You can buy a new, and restore you btc with your magic words. 2) Just because someone finds your Trezor doesn't mean he can hack it. They've put a lot of work into preventing this from happening. It's infinetely more secure than a piece of paper, at least. If you find it, you've got it.
oskey (6 months ago)
I certainly hope these paper wallets you were showing were bogus wallets and not your real ones. As anybody interested would be able to copy them from this video. I hope an expert like you would not commit such mistake. Very good video.
Nita V (7 months ago)
What if you keep your key in a strong of numbers, a pattern only you know. 12498471803741905871095719057981057901759018751908579108579187539017238971222222222293593257 (every 3rd then 4th number is my password) like that?
ben cohen (7 months ago)
What about using ledger via the mycelium... in sending from ledger or cold storage, its asking for the privet key QR -- from the first time and on it is safe ? 1 more question mycelium is not safe becas the privet key is stored on the phone?
Black Film Guild (7 months ago)
coinbase is having a major outage....
Roy Lange (7 months ago)
There needs to be a second six digit password in bitcoin. That will resolve the entire problem of stolen passkeys.
Nadibeans (7 months ago)
Is Coinbase trustable ? If not is it possible to transfer the bitcoins onto something like that thumb drive?
PROMOLOZO (7 months ago)
I have so many usb sticks fail on me. I feel like paper wallets stored in a fireproof safe are more reliable in security
Home run. At last someone said it is slow clear English... Thank you Boxmining...Yeah, nothing is safe really. NTK
James M. (7 months ago)
Hi Mike, What do you think about the Ledger Blue? How many coins (apps) will it support at once? What about ERC-20/23 tokens? Do you think its worth the price?
Buggie (7 months ago)
Michael, Do you not think that the banks will influence the governments around the world to impose severe penalties for BTC & ETH etc ?
Narayani 6a (7 months ago)
how do you create the paper wallet
Sean Fairley (6 months ago)
Narayani 6a - *WalletGenerator.net* - BUT BE SURE IT’s THE ORIGINAL LEGIT SITE, I’m sure there’s plenty of imposters 👍
Casca Fdasca (7 months ago)
can you use a paper wallet without a phone
cr8ive (7 months ago)
LOL...Don't worry about cyber security if you have no signal. . . It is still early days, but one thing is certain.  The government and financial institutions are already on red alert regarding all crypto currencies.  If anybody think they are going to give up their power to control society,  along with the power to milk them for profits,  they are in for a surprise.  Everyone seem to think they are untouchable in this "online virtual world",  but they forget that government has control over,  or can gain power over the signal you require to be online. Once the threat becomes to strong and they lose too much money,  they will simply cut you off from utilizing the network.  Already everyone that is on the Apple platform can be switched off by flicking a switch.  You cant use your iPhone if they don't switch it on. . . .and you cant do nothing if they decide to switch it off . . . .all the millions In crypto currencies will be useless to you if you cant access it. . . . like I said, early days. . . I no the crypto enthusiast will remain optimistic,  but lets also be realistic . . . .we all know what's going on behind the scenes where the power struggles for world domination is taking place . . . .Money is power so they will put up a fight to retain it. . . just saying, but all the best
Freedom Joe (1 month ago)
I was thinking the same thing, can’t the government simply prohibit you or block you from accessing your wallet online. What do u suggest? 🤔
AlgerianFalcon (5 months ago)
Does not exist. The goverments can still make ISPs to shut off all the sites they want to. Just like China have shut off Facebook, youtube.
Sam Kar (6 months ago)
cr8ive that is the idea this built on. We are yet to see it hit mainstream worldwide. Its huge, but not there yet. People are going to want to use trustworthy exchanges if they are investing thousands, hundreds, and millions. All the those exchanges currently do or will be required to verify all your legal documents. Plus they report large amounts. So in other words the government is okay with it because they let it happen
RP (6 months ago)
decentralized internet ftw
Stevareno (7 months ago)
I should be happy with this demo. I am a super newbie and still do not understand what I should be doing based on your demo
One/Crypto/Revolutionary (7 months ago)
One thing is not clear: If I lose the wallet can I still recover using the private key only, or do I have to have backup wallets also? Thanks.
Chandika Phadanis (8 months ago)
I see another great deal is ongoing right now, check the dmarkt.io, they "go to the moon" in near future. http://bit.ly/2yrYnE7
Aj Abhishek (8 months ago)
Hi When you try to transfer BITCOIN from your BITCOIN WALLET TO Your PAPER Wallet - The Bitcoin Wallet Charges OVER 3 POUNDS to transfer the Money ! so is there any cheaper way of transferring money to your PAPER WALLET ? 2. WHEN you Want to SEND BITCOIN FROM your PAPER WALLET , will it COST to send it again ??
Ravi Bhojwani (8 months ago)
Dude Awesome.
Christian Cora (8 months ago)
So.... what happens if the usb goes bad?
Sanja Brown (8 months ago)
OmiseGo is the solution for security
Hannah Lin (9 months ago)
if your wallet is usb connected with your pc while pc is internet connected... you can be hacked.
ITSMEE BOSSLADY (9 months ago)
Make sure you take a look at cryptoHWwallet for all your hardware wallet needs 😁💯👍
Mike Cell (9 months ago)
Your the crypto Chanel on youtube !!!
Mike Cell (9 months ago)
Great job Mikey :) thanks for the info brother
Jon Singleton (9 months ago)
I was going to order a Trezor until found out it doesn't store Alt coins. What do you recommend for storing coins such as OMG, NEO, etc., etc.?
hubbabt (4 months ago)
There is no hardware wallets for neo nuls loopring right ??
John Doe (4 months ago)
it stores erc20 coins which is a good chunk of alt coins
Monty Baker (5 months ago)
Nano S
Moofy (9 months ago)
What if you write it in a way only you can translate.
David Harford (9 months ago)
Where can I actually view my private key on Exodus wallet? I want to memorize my private keys. Also, (real dumb question) but it is a different private key per coin (1 for bitcoin, 1 for litecoin etc) not just 1 private key for the whole wallet correct?
David Harford (9 months ago)
I think I get it! So if I memorize the 12 word backup phrase this = my private key. Still not sure if this is the private key for the Exodus wallet itself or for all the assets. So if I have the 12 word phrase I can restore the backup even to another wallet, since the 12 word phrase = the private key? Thanks a lot for the super quick reply!
Boxmining (9 months ago)
its in backup. the 12 word backup phrase
Eric Hadley (10 months ago)
Are there any tools you would recommend that allow you to generate a paper wallet offline? I'd like to be able to load a generator web page, disconnect my router, and generate a paper wallet. Secondly, how do you verify the hardware wallets to ensure they do not have backdoors of some kind? Is the software they run open source?
Fernando Rojas (10 months ago)
Where do you store your NEO? The safest way possible please
r u rich yet
dakusaab (10 months ago)
asain people are very clever
Jenny Boone (10 months ago)
what about bitcoin atm machine?
Tesselma (10 months ago)
Hi, great info man! thanks for sharing!! What would be a safe way to store antshares for a long time? Thanks again.
Boxing Predictions (10 months ago)
What paper wallet should you use for bitcoin?
Simon W (10 months ago)
Cool video, my affiliate code is EQOqW3. I will return the favour, so leave me yours if you had used mine.
liondani (10 months ago)
You would make a lot of money on steemit
Mac Smith (11 months ago)
such a massive drawback to cryptocurrency.
Luc Chase (11 months ago)
unfortunately none of these options looks perfect in terms of safety.

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