Post
Topic
Board Bitcoin Discussion
Re: If you have 4 wallets with 25k how to encrypt & use cold storage!
by
Lauda
on 03/09/2015, 14:06:48 UTC
Though there has been some news about the possibility of hackers installing a backdoor in the cold storage system, the method of securing a cryptocurrency with a cold storage is still by and large the best. Web based wallets are most prone to attacks by hackers and when the web links are snipped, cold storage becomes a safe place for the cryptocurrency you own.
Well obviously using a system that might be compromised as a cold storage one is pretty pointless. This is a valid concern, however a bit too paranoid. What are the odds that someone with low amount of coins (less than 50) is going to be a target of highly complex malware? It's not as easy to target a person as people think. A combination of a few methods should be best. The chances of being compromised at that point would be very low. There are two major lessons that we've learned in the past: 1) Don't use a (simple) web wallet as your main one; 2) Do not keep everything in a single wallet.

@OP I would recommend you look into multi-signature wallets
I concur.