Post
Topic
Board Beginners & Help
Merits 3 from 1 user
Re: The cost of maintaining wallet
by
SatoPrincess
on 13/05/2023, 21:17:22 UTC
⭐ Merited by The Sceptical Chymist (3)
Those who are running long term investment, always have to undergo the active maintenance of seed phase, password, device for instance if your phone lost, you have to look for a way to restored everything into your new device, most people lost their seed phase, private keys and wallets that's why I have come up with little ideas especially if you're this carefree person.


I wonder where you got that notion from. You spent enough time on the forum to know how wallets work. I think it’s fair to ask you how much you have spent so far in “maintaining” your wallet and seed phrase. If a peon loses his device, he can easily import his wallet to another device, there is no other way to do it. 


Once you own bitcoin wallet or other crypto currency, thinking of how long you can maintain your wallet follows this steps,
First send your seed phase or private keys to your emails, also use them to compose a little song only can listen anytime, write it down in your diaries, and makes sure have a google doc to save your wallet keys and other information.
This is really bad advice. Once your seed phrase is stored online, just know your wallet has already been compromised, your email, online notes can be hacked. Online storage is very dangerous whether you use a song format or not, hackers can use malware to search for keywords that look anything like seed phrase. It’s better to be safe than sorry, store your seed phrase offline, you can write them on paper or engrave them on steel.