hello everyone fairly new to crypo but see the potential here. In for 7mil xvg! Now where is the best place to keep it? Web or Desktop? How safe is the Web Wallet? Or shoud I go paper. Thanks.
Desktop (with a backup elsewhere of the wallet.dat ofc) or paper (i dont know paper, nor its benefits/pitfalls) but it would still be 110% better than any webbased setup.
Thanks for your quickreply. So I only need to make a backup of wallet.dat like on drop box and I will be fine? If I add more coins to the wallet, do I need to back up the wallet.dat again with the new coins added?
saving wallet.dat in a cloud-service I would not do, if that service gets hacked or you can't access it your wallet.dat is gone. Best safe wallet.dat on an usb stick, burn on cd and keep it in a safe place, best to have 2 or more backups.
You can add funds/coins to the address any time,no need to make an extra backup, all is stored in the blockchain. You can always check your balance and transaction in an online blockchain explorer, simply enter your (wallet)address there.
i would definitely agree with this. multiple backups are
a bad thing..