Post
Topic
Board Announcements (Altcoins)
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
Freefactomizer
on 11/12/2017, 17:37:54 UTC
Hi I am new to Byteball and hear because it looks like best of DAG and is actually functional. I am about to try sending through the alternative crypto to byte bot and after I do so I am wondering what is the best way to secure my coins? I see a paper wallet import but dont know how to export private keys or secure it by any other means. Can someone help me while I get myself acquainted?

You could create 2 multisig wallets on 2 different devices with a 1-2 rule. So if you lose one of the 2 devices, the other can still manage your bytes.

Ok but if computer crashes and I lose my phone then im SOL? The idea of having something on paper or usb I can restore from is really appealing to me if Im gonna take a position in a crypto.

edit: Im unsure if this difference in extra security available by downloading full desktop client?

Also, could someone tell me the current DAG size so I know what to expect?

You don't need full client.
For security, write down the seeds of your wallets. They are sufficient to recover any bytes that are not stored on a smart-contract.