Best Ways to Store Crypto in 2021 with detailed Risk Analysis of every method.

#BitcoinStorage #CryptoStorage #HardwareWallets #ColdStorage #NotMyKeysNotMyCoins
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A detailed analysis of the best and worst ways to store your crypto in 2021. We outline all the methods, advantages and disadvantages of each from a risk and benefit perspective.
Plus, hot and cold storage across all apps, exchanges, web, mobile and all the different wallet types.
TIMESTAMPS
0:00 Intro - risk and risk management
0:45 Hot wallets, cold storage and exchanges - who you are and your risk profile
1:00 Money in the math and watch for scammers
1:30 Not your keys, not your coins
1:59 20-26% of all Bitcoins are lost forever
3:06 Self-survey - how accessible do you. need your coins to be, geography? tech-savvy? How to manage your own crypto
4:20 Keep your private key safe
4:50 Ledgers
5:10 Don't buy a second-hand ledger - malware
5:25 Hardware danger
5:33 Lost keys even Elon Musk
5:48 Death or incapacitation - have your contingency plans set up
6:40 Don't dial a wrong number - do this test first
7:00 Storage methods
8:01 Exchanges
8:27 Apps
9:00 Digital Wallets versus Cold Wallets
9:38 Web Service Wallets - make sure you have your two factor or multi-factor authentication set up
9:51 Desktop Wallets
10:27 Mobile Wallets
11:00 Paper Wallets
11:14 Hardware Wallets
11:30 See Phrases and PBKDF2 and BIP39
12:12 Your security or theirs?
12:52 Conclusion - balance security and convenience with critical mass, geopolitical and familial risk.
13:30 Thank you and pls subscribe and hit the bell if you like it

[I-Red]

You cracked the code on how to clearly explain these important topics, well done 👍

[HoneyBeePicker]

Hi James, I've been watching your videos for the last month. My husband has been watching you for about 6 months. We are in our 50-60s and dedicate time every day/evening to building and repeat learning Crypto. You Are the Best educator in the subject we have found so far-I'm confident this status for you will not change. You teach from the heart. We are teaching our adult daughter as well. Gratitude for your passion and skill to teach us. I resell things on eBay but quickly am seeing the potential to build my wealth with Crypto. I left a 6 figure finance career with a top pharma company almost 2 years ago to seek happiness and freedom.

[MrFurriephillips]

Don’t forget that you don’t have to store all of your Bitcoin (eggs) in one location (basket). Depending on your risk and accessibility profile, maybe you should split up your holdings and have various stashes.

[bena]

this seems to be the only channel i find who i don't feel guilty watching because of the clickbait thumbnails and titles. Genuinely refreshing info keep it up!!

[wolesofttechnologiesltd]

By far the most balanced and comprehensive explanation on this subject I can find on the Internet. One thing people don’t talk about with regards to ledger and other cold wallets is a catastrophic event like incapacitation or sudden death which could put the wealth completely out of reach of the family and in essence lost forever.

[David_prod-eNGee]

Just like the importance of diversification when it comes to investing, IMO, it is important to also diversify where you store your Bitcoin, depending on how much you have.

[_Cryptotruth_]

I’ve been researching this topic for over a month and so far this is the most comprehensive, down to earth coverage I’ve found, on YouTube, internet websites and just conversations with others having similar interests/concerns. We’ll done!

[xtcculture]

I rarely comment on social media platforms but I must commend you for publicising an important topic. Sadley social trends do not allow the right media to reach the people needing it most. Good job, keep educating the uninformed and those seeking knowledge!

[halilahmed]

1. Cold storage always. No exceptions
2.Certain % on exchanges to swap/trade.
3.Multiple ledgers/trezors with max limit.
4. Coinbase pro and Binance for lower taker and maker fees
5. If you have Strong conviction and DYOS - Holding is easy
6. DCA - Time in the market is better than timing the market. SIMPLE - in my opinon of course

[roborat]

finally a sane approach - balance. "not your keys, not your crypto approach" sounded extremist to me in the first place.

[njreno]

I like what you say and how you say it. Your words are soft when spoken but your eyes tell me another story. Perhaps another time, for the story. Great advice on the topic of storage!!

[terifong]

I can watch the videos twice, it’s a blessing to have these pleasant education.

[maxxscreen]

As a newcomer just getting into crypto, your channel has been a great information bank for me! Really appreciate your work, keep them coming!

[kc]

Best explanation of crypto storage anywhere on the internet. It's short, concise and to the point. Your knowledge of Financial Risk Management truly shines!!

[JoaoPaletas]

I did mine bitcoin "for fun" back in 2009 or 2010, can't be sure, I was a kid, they were basically worthless, I made a physical backup.. that didn't age well. Can't remember how much I had, but I'm sure it was worth something nowadays (:

[bahrain]

This is the best video on YouTube regarding crypto storage

[RKBAGUY]

I think you're being entirely disingenuous by implying at 4:43 that Ledger devices were hacked. The devices are all secure, it was Ledger's website that was hacked and only customer order data taken. No seed phrases or keys are stored at the company, they are all generated locally at each device. Please correct this statement, it is totally misleading and confusing for novice crypto investors.

[soulrelaxation]

In short everything is risky. May God help us

[jamesthompson]

To the best of my knowledge, no Ledger has ever been hacked. The data that was compromised was personal data from Ledger's client files. That was a horribly unfair comment.

[TheChinkchow]

The best overview I’ve seen, but no one ever remembers fire risk. Keys should be stored on a steel or titanium plate, using an engraving tool (for steel or titanium), or letter stamp set (for steel only). Titanium has a higher melting point.