Crypto Wallet Cold Storage Tips

Question from Patreon member: According to you, one should not store more than 10% of ones portfolio in a wallet. Does this imply that one should have 10 wallets? Seems like a lot. How many should be cold wallets?
Recording date: March 3, 2024
#iaclips #investanswers #coldstorage #hotwallets #wallets #cryptosecurity

Disclaimer: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss.  Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.

[Bitcoinwholecoiner]

Great topic James ! secure is coinbase off line cold storage vault ? It has 48 hr hold until released to your account or for withdraw or trade. I've used it for 6 years with no issues at all....btw, it's a free service. If coinbase is holding almost all the ETF's coins in cold storage I feel pretty safe with coinbase holding mine as well. Any thoughts ? Comments ? Suggestions ? Thanks so much !

[ErichDejes]

Cheers for publishing this! I need advice: My Crypto Wallet has some USDT trx, and I have the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How to proceed with sending them to Bybit?

[Ukrainka]

I’ll deviate from the topic, the BitGet wallet has USDT and the only phrase for it is “scrub know faith win siren become slot notice chuckle shift few extra”. How to transfer to binance correctly and safely?

[JameKollasch]

Cheers for publishing this! I need guidance: My wallet on OKX has some TRX 20 USDT, and I possess the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how to proceed with transferring them to Binance?

[TheGlitch-X]

James hello, I cannot find anything on YouTube as to the advantages of having a hot wallet. All YouTube has is cold VS hot wallet explanations.

Please explain the advantage of using hot wallets.

Are hot wallets necessary if someone already has a cold wallet ?

Thank you.

[billybigelow]

Hi James- should we keep our cold storage wallet devices in a $20 Faraday Box to protect against localized EMPs, solar flares, Etc?

[ReynaldoReade]

Appreciate it for posting! Looking for guidance: My Trust Wallet holds some USDT trx, and I have the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I handle moving them to another wallet on Binance?

[aaronmorber]

At least 4 software and 2 cold for under 10k but also buy silver and good stock in commodities energy ECT more important to diversify investments than a bunch of wallets to store only crypto that is unwise

[JaeLosado]

Appreciate it for publishing this! Hoping for some guidance: My Crypto Wallet contains some TRX 20 USDT, and I have the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I proceed with moving them to Bitget?

[CheekyMiner]

Hello, quick question as a relatively new miner and probably late in the game, any coins I currently have are on a Ledger Nano X but what do you recommend for those wallets that are not included within Ledger. I watched your Zelcore video and found that very interesting and was wondering if you have any further opinions since your review of that product. Thank you.

[melquioliveira-fg]

Can you do a video on the best wallets for storing cryptocurrency?

[zyairgill]

Thanks for sharing! Looking for help: My OKX wallet contains some TRX 20 USDT, and I possess the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How to handle moving them to Binance?

[tjmooney]

Ballet pure, real, and pro series wallets are perfect for all needs

[banyantree]

Funny how opening Ads for IA are…….Invest in Gold 😅

[johndoylejnr]

HELP NEEDED for Novice. Im trying to buy JUP. I have a Coinbase account and wallet. I transferred ETH to wallet and tried to do a swap but its not working. Does anyone have a go around? - I'm NY - so don't access to all exchanges. Would a VPN do the trick with another exchange?

[LutherDrucker]

Wallet security is very serious topic ....not your keys not your crypto!!
Irys leading the charge in data integrity and transparency, staying vigilant is key to safeguarding the future of blockchain technologies.
What's your take on this!!

[creolemarie]

We can’t leave investments on coinbase?