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comment by WanderingEng
WanderingEng  ·  2583 days ago  ·  link  ·    ·  parent  ·  post: $300m in cryptocurrency accidentally stolen and lost forever due to bug

So, I don't own any crypto but have been thinking about diversifying into it. Are there mechanisms to not rely on a shady website to store it for me? I realize that may be a dumb question, but I don't know the answer so I don't know how dumb.





mk  ·  2582 days ago  ·  link  ·  

If you don't want to store a ton, use Coinbase. If you want to store a bunch of ETH, use insomniasexx's https://myetherwallet.com to create paper wallets. I'm not sure the best way to generate BTC paper wallets anymore. But do some research. Get a general understanding of how transactions work before diving in.

kleinbl00  ·  2582 days ago  ·  link  ·  

Know how Sony is this massive corporation who you would assume would keep your information safe, but actually stored your bank account numbers in plaintext?

The cool thing about crypto is you need a set of numbers to get to it. You could write that shit on a napkin (don't lose the napkin, and don't post photos of it to the internet). The dumb thing about crypto is people go "kthxbye" and put their shit into an exchange because, well, that's what you do with money, you put it in a bank.

Except it isn't a bank it's Magic The Gathering Online Exchange and you should fucking feel bad trusting them with your money, ass.