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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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[–] telejoshi@alien.top 1 points 10 months ago (12 children)

Hot wallets are imho not secure enough for your investment. There can always be hacks or exploits, malware on your computer and so on. Also, some say that keys generated by wallets may not be 100% secure either, because the randomness comes from software.

I would stick with a hardware wallet (or cold wallet) so that your private key is never on an online device. For the paranoid (like me), I'd suggest rolling the dice to generate keys.

[–] ashketchup422@alien.top 1 points 10 months ago (11 children)

What is the difference between storing the speed phrase on a paper and storing your private key on a paper a so called paper wallet? As far as I know, a paper wallet is a cold wallet. Or am I wrong? And storing your speedphrase on a paper is a hot wallet cause the actual Private keys are still online?

[–] ExamAccomplished6865@alien.top 1 points 10 months ago (5 children)

Oh god. For your own sake don’t go buying large dollar amounts worth of crypto. You have NO idea what you’re doing, talking about or even asking lol

[–] CryptoWarfare11@alien.top 1 points 10 months ago (1 children)

No shit, hence why he's trying to ask the community. Take time to explain if you're going to bother posting.

[–] ashketchup422@alien.top 1 points 10 months ago

Thank you :)

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