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Is a passphrase enough to store your coins? (alien.top)

submitted 10 months ago by ashketchup422@alien.top to c/ethereum@blockchained.world

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I always read about public keys,private keys and speedphrases that you need to store them in a paper wallet or hardware wallet. The only thing I ever stored are the passphrases (those 12 or 24 words) I get from metamask or other wallet provider in the beginning of creating a wallet. Is this enough when I write them down and secure them?

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[–] Passi-RVN@alien.top 1 points 10 months ago (4 children)

for some reason i dont like hardware wallets too, the following is "my way" to store my eth:

i did a fresh windows install and only downloaded metamask, nothing else, wrote down the address and the seed phrase and gave my metamask a password ( wrote the seed phrase and password on 20 pieces of paper and hid it here in my house in the cellar ) and turned off the computer and took out the hard drive

after that i did send my eth to the address

and there it is now ( 2 years from now ) until i need to access it again, but im a hodler, when the time comes (5 years maybe or more ) i will do a fresh install of windows again, install MM again and transfer my eth to an exchange of my choosing and change it to fiat then

[–] Neophyte-@alien.top 1 points 10 months ago (2 children)

for some reason i dont like hardware wallets too, the following is "my way" to store my eth:

why dont you like hw wallets?

with your other steps, everything would have been fine, but you connected your pc unpatched / no virus scanner to the internet to dl metamask to create a wallet, and yeah its windows..

how ever unlikely it may be, you may have been subjected to a virus / keylogger while your unpatched windows machine got metamask... at hte time of the install

even if there was a 0.00001% chance your pc was compromised. imagine you had your life savings on a potentially compromised wallet where some bad actor had a keylogger on your pass phrase. sure its been 2 years, but maybe the hackers are waiting

[–] Juankestein@alien.top 1 points 10 months ago (1 children)

This guy created the most unnecessary, slow, impractical and unsecure method to safeguard his crypto to avoid paying $70 to Ledger/Trezor.

[–] beerbaron105@alien.top 1 points 10 months ago

not to mention greatly flawed by being internet connected

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