Best Ways to Store Crypto in 2021 with detailed Risk Analysis of every method.

#BitcoinStorage #CryptoStorage #HardwareWallets #ColdStorage #NotMyKeysNotMyCoins
👋JOIN THE COMMUNITY: / investanswers
DISCLAIMER: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss. Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.
Crypto User Loses Over $100,000 in Bitcoin While Transferring His Wallet - THIS PROVES THE IMPORTANCE OF WHAT I TRIED TO STRESS IN THIS VIDEO!!!!! 4% of Bitcoin are lost every year. Don't BE IN THAT 4% my friends! news.bitcoin.com/crypto-user-...
A detailed analysis of the best and worst ways to store your crypto in 2021. We outline all the methods, advantages and disadvantages of each from a risk and benefit perspective.
Plus, hot and cold storage across all apps, exchanges, web, mobile and all the different wallet types.
TIMESTAMPS
0:00 Intro - risk and risk management
0:45 Hot wallets, cold storage and exchanges - who you are and your risk profile
1:00 Money in the math and watch for scammers
1:30 Not your keys, not your coins
1:59 20-26% of all Bitcoins are lost forever
3:06 Self-survey - how accessible do you. need your coins to be, geography? tech-savvy? How to manage your own crypto
4:20 Keep your private key safe
4:50 Ledgers
5:10 Don't buy a second-hand ledger - malware
5:25 Hardware danger
5:33 Lost keys even Elon Musk
5:48 Death or incapacitation - have your contingency plans set up
6:40 Don't dial a wrong number - do this test first
7:00 Storage methods
8:01 Exchanges
8:27 Apps
9:00 Digital Wallets versus Cold Wallets
9:38 Web Service Wallets - make sure you have your two factor or multi-factor authentication set up
9:51 Desktop Wallets
10:27 Mobile Wallets
11:00 Paper Wallets
11:14 Hardware Wallets
11:30 See Phrases and PBKDF2 and BIP39
12:12 Your security or theirs?
12:52 Conclusion - balance security and convenience with critical mass, geopolitical and familial risk.
13:30 Thank you and pls subscribe and hit the bell if you like it

[@I-Red]

You cracked the code on how to clearly explain these important topics ,well done 👍

[@InvestAnswers]

Glad you liked it

[@binduthomas8626]

@@InvestAnswers hello Sir, i use Luno Exchange n has wallet, now i deposit my dogecoin to Binance Excahnge from my another wallet, should i leave at exchange, or transfer back to my wallet? People say not leave your crypto in Exchange and immediately withdraw to wallet? how i dont understand? if i want to sell when the price goes up How? Thank u

[@tomtomtravel1621]

Can we store coins in 2 different wallet??? Is that possible?

[@johnj.crypto6560]

Yes you can

[@YoMommaHouse.]

@@zoisantana661 congrats. 👍🏽

[@HoneyBeePicker]

Hi James, I've been watching your videos for the last month. My husband has been watching you for about 6 months. We are in our 50-60s and dedicate time every day/evening to building and repeat learning Crypto. You Are the Best educator in the subject we have found so far-I'm confident this status for you will not change. You teach from the heart. We are teaching our adult daughter as well. Gratitude for your passion and skill to teach us. I resell things on eBay but quickly am seeing the potential to build my wealth with Crypto. I left a 6 figure finance career with a top pharma company almost 2 years ago to seek happiness and freedom.

[@stewartdahamman]

How is the crypto working out for you? I see you know the hustle if leaving comments on other channels to drive traffic to your own 😉

[@livingart2576]

How is your jealous negatively? 😂

[@stewartdahamman]

@@livingart2576 Honestly, it's a genuine question - I know crypto is down overall but that doesn't mean this person hasn't made money overall. I'm just curious about the overall picture.

[@bena6575]

this seems to be the only channel i find who i don't feel guilty watching because of the clickbait thumbnails and titles. Genuinely refreshing info keep it up!!

[@InvestAnswers]

LOL- thanks for the compliment!

[@_Cryptotruth_]

I’ve been researching this topic for over a month and so far this is the most comprehensive, down to earth coverage I’ve found, on KZbin, internet websites and just conversations with others having similar interests/concerns. We’ll done!

[@wolesofttechnologiesltd9688]

By far the most balanced and comprehensive explanation on this subject I can find on the Internet. One thing people don’t talk about with regards to ledger and other cold wallets is a catastrophic event like incapacitation or sudden death which could put the wealth completely out of reach of the family and in essence lost forever.

[@danthelambboy]

Fire safes aren't that expensive. Tell your family it is in a fire safe and where then they can call a locksmith to open the safe

[@kc7136]

Best explanation of crypto storage anywhere on the internet. It's short, concise and to the point. Your knowledge of Financial Risk Management truly shines!!

[@InvestAnswers]

Glad it was helpful!

[@xtcculture5316]

I rarely comment on social media platforms but I must commend you for publicising an important topic. Sadley social trends do not allow the right media to reach the people needing it most. Good job, keep educating the uninformed and those seeking knowledge!

[@janedr6400]

I have been searching YT for some good, clear advice about the different wallets and your information is the best by far. Thank you.

[@njreno1]

I like what you say and how you say it. Your words are soft when spoken but your eyes tell me another story. Perhaps another time, for the story. Great advice on the topic of storage!!

[@tanyabartley2010]

I thought i was the only one, who notice his eyes....... his content is great. I could listen to his voice because its soothing without looking into his eyes.

[@sherlockholmesradioshow]

Thanks man, that explained everything I needed to know and I feel a lot wiser about my choices now. Great video.

[@inquisitivelycurious2187]

I found your channel about a week or two ago, and am a brand new crypto investor. I plan on watching your investing 101 series for a greater understanding, and have about 4-5 Crypto books to read. I can't wait to begin my first spot trade, but have much more to learn. I am blessed to have found you. Thank you, thank you, thank you!!!

[@MrFurriephillips]

Don’t forget that you don’t have to store all of your Bitcoin (eggs) in one location (basket). Depending on your risk and accessibility profile, maybe you should split up your holdings and have various stashes.

[@InvestAnswers]

excellent point, I use 4 different places.

[@KING-hn3ht]

BTC ETH ADA

[@syncro333]

@@InvestAnswers thank you very much for the video! Could you please disclose your 4 methods to store btc?

[@techinrl9869]

I think this is the most secure method of all. Never put everything in one place. I find that I’m more likely to lose my Ledger than for multiple exchanges to be hacked, so I actually distrust cold wallets, or rather my handling of them. Just like the very rich don’t keep all of their money in the same bank (banks get robbed and hacked, too, so why do people who fear exchanges or online wallets use banks), why would we want to put all of our crypto in the same place? Split up your holdings so that if one location is compromised, you have alternatives.

[@ReLapse85]

@@KING-hn3ht these are my 3

[@VideoShowMeHow]

Thanks muchly, am new to crypto and this was the most crisp and well laid breakdown I've found 👍👍

[@roborat2000]

finally a sane approach - balance. "not your keys, not your crypto approach" sounded extremist to me in the first place.

[@erikxavier4638]

Until coinbase freezes your account for any reason and good luck with customer service on any exchange 😂

[@seriousbutfunny2]

Greatttttttttttttttttttttttt! Video. Finally, someone making sense, Yes, keeping your money on an external key IS akin to storing in a safe or under your mattress (though those may be safer than a key you can lose. Password you can forget, And don't even get me started on trading and storing things on a cellphone) If crypto is going to go mainstream, ordinary folks are going to need some sort of certainty that the crypto they buy is secure on the exchanges where they keep it. Even if (and I think it's coming) some sore of FDIC insurance up to a certain dollar amount is offered by said exchanges. Personally, I have never met a person who hasn't misplaced something of value, keys, wallets, phones etc. Or forgotten a PW. It's human nature. Anyone thanks as always for your outstanding content. This is one of the best crypto channels on KZbin.

[@justinsjourney3224]

I appreciate this video. I'm Canadian and our government has done so much bizarre stuff in the last few years I don't trust them not to do anything imaginable. Your video got me strongly considering factors in my own security profile that I hadn't considered before so thank you.

[@Kelkschiz]

Thank you for your structured analysis.

[@luckyeagle7789]

My God... this channel is so freaking good! Please don't stop Vloggin! Amazing content!

[@terifong9816]

I can watch the videos twice, it’s a blessing to have these pleasant education.

[@jmaritato1633]

Thank you so much for all of your hard work. And everything you do for the community.

[@iamwillproject]

As always... appreciate the eduction. Thank you. Happy to be following along.

[@InvestAnswers]

Thanks for watching!

[@iamwillproject]

@@InvestAnswers Pleasure. Informative, to say the absolute least.

[@stford13]

These videos are perfectly produced and executed!! Appreciate your insights as always

[@InvestAnswers]

I appreciate that!

[@bahrain7274]

This is the best video on KZbin regarding crypto storage

[@markgaudie80]

I’m new to this and I find your advice vital. Best crypto KZbinr by far. Thank you 🙏

[@David_prod-eNGee]

Just like the importance of diversification when it comes to investing, IMO, it is important to also diversify where you store your Bitcoin, depending on how much you have.

[@dreadlocks9335]

Agreed! It's not a either/or scenario. I don't trust myself or an exchange LOL. Split it up and minimize risk

[@seandelaney1700]

@@dreadlocks9335 I don't trust either system myself, but diversifying is a pretty weak system to protect your wealth.

[@cjjohnson353]

@@seandelaney1700 how is it? The chances of you losing it all at once dramatically reduce.

[@seandelaney1700]

@@cjjohnson353 If I own on three exchanges it's unlikely I lose everything, but I would be heartbroken to lose a third. As a world nomad, non techy and forgetful guy my temporary solution is to buy proxies like MSTR, miners like CLSK, funds like GBTC and ETHE. This is not ideal, not least of which because they don't trade 24hrs. I suppose it MIGHT help with sleep.

[@themarkofl1649]

@@seandelaney1700 I would also be heartbroken to lose a third, but imagine losing it all at once; I couldn't even live with myself knowing I could have diversified. At the end of the day everybody has their choice, but for me it's diversification. Merry Christmas and happy holidays!

[@mahmutertas5536]

EXTREME GRATITUDE,HUMILITY,UNDERSTANDING

[@maxkurth2501]

By far the easiest most truthful explanation on crypto storage I’ve seen mate. Thank you

[@dicer666]

Best and well thought out information in KZbin for Crypto. Thank you!

[@Philosophiseraptor]

Thank you. You'd think cold wallets are God from the info out there, appreciate you highlighting there are reasons for alternative storage.

[@InvestAnswers]

Glad to help!

[@DiandraStarShine]

well like James said, it depends on the personality of the individual + also on how tech savvy they are. as well, remember he did *not* say people should store their own crypto in one way only. many individuals use a few different kinds of storage solutions, in order to minimize the risks of potential losses, overall.👍 re: your comment: "Thank you. You'd think cold wallets are God from the info out there, appreciate you highlighting there are reasons for alternative storage."

[@soulrelaxation5977]

In short everything is risky. May God help us

[@dmatmor]

Lol:)

[@GreyRock100]

May god help us all

[@KING-hn3ht]

But still better then to spend money on material liabilitys haha

[@aapfades9781]

@@KING-hn3ht not if its real estate

[@hunting_gloves]

Eventually everything will be destroyed. That's entropy. Just another way of saying that there is nothing that is not at risk in the universe.

[@mouhssine04]

I really liked your presentation , it is quite awsome, you're the first one who do not recommand a specific option, but instead, break down all possible risks that everybody can encounter depending on his profil type.

[@70s80sVintage]

Thanks, James. You no-nonsense presentation is very helpful.

[@Mustus1]

Very detailed explanation of topics that I had a lot of questions on. Thank you sir.

[@maxxscreen]

As a newcomer just getting into crypto, your channel has been a great information bank for me! Really appreciate your work, keep them coming!

[@InvestAnswers]

Welcome aboard!

[@InvestAnswers]

@@Glen67z thanks for identifying the real scammer. Cheers

[@nvmffs]

@@Glen67z You're talking to the real guy...

[@Glen67z]

@@nvmffs scammer deleted his comments

[@wave6413]

Yes I second that comment.

[@luckyeagle7789]

By the way... really love the artwork that you have posted on your walls/backdrops... helps me to understand how your amazing brain must work... that's intended totally as a sincere compliment! Huge Fan of InvestAnswers!

[@ingridm85]

I really appreciate your videos especially this one. When searching about wallets all the other YTer's have affiliate links which now, in my opinion, makes me think they are biased. I feel much better now w/my discussion but one day might look into other options. Thank you again for this video.

[@twitafftwitaff7029]

Food for thought. Appreciate your time in covering this topic. 👍

[@thiagoalves2436]

Hold is the biggest point in crypto! Great job

[@Joker3515]

This is one of the best KZbin channels out there, thanks for the great info.

[@InvestAnswers]

Appreciate that

[@BurritoFace666]

You’re my favorite KZbinr by far. I learn so much because of you.

[@ryancurrie8161]

Thank you, sir! Your content is appreciated.

[@InvestAnswers]

You are very welcome

[@TheLast-BoyScout.33]

This was an amazing and thoroughly done video.. I kindly thankyou Sir.

[@cbrace]

About once a month, someone posts in the Reddit bitcoin sub a PSA: not your keys, not your coins. It's a matter of dogma for these people. I really appreciate the balanced perspective you share here.

[@VedantUtneja]

I am from India and I have never seen anyone giving such information which Is actually depend person to person and Geo situation and 100 other factors, you really break it well and I like the concept of mass. Thanks a lot will keep watching your videos and subscribed already.

[@Journeyman-Fixit]

You have my vote (Liked and Subbed) very well done Sir (Coming from a 45 year software engineer who has seen more than his fair share of hacking).

[@InvestAnswers]

so honored!

[@patrickupstatesaintsbloss7258]

Crypto trading is certainly akin to Fight Club love the analogy

[@midtownstunts]

Only recently got into Crypto, and wanted to say, your videos are really well put together and educative. Thank you so much for all the advice !

[@InvestAnswers]

Glad you like them!

[@cstrading7292]

Nice angle, very informative, thank you. More needs to be done on this topic, for new people its crazy hard to know which way to go

[@KY-jb4vd]

Great discussion. We have always followed the 'not your keys' method of storage, but just in the past month have decided to put some of our crypto in Blockfi and Celsius. It's a hard step to make to relinquish control of your crypto, but we started to feel like it might be safer to have it in a variety of places - and bonus to earn some passive income on the side.

[@InvestAnswers]

Thanks for sharing!

[@MrGamecock1977]

I just put some on Celsius last week. Diversify my holdings and love the interest.

[@BoBBuilder-op6le]

@@totallyraw1313 this cannot be. Staking is handing over your crypto, you no longer own that crypto and it is not in your wallet. In order to stake on most apps you will go through many pages of terms and conditions that outline this.

[@newbeginnings9457]

Hopefully you got out of Celsius! Smh

[@First.Last.99]

This didnt age well.

[@mickeypow9503]

Brilliant breakdown cheers

[@mandipsinghbains6395]

Thank you for your info, I've just subscribed 🇬🇧😎👍

[@nabis2424]

Thank you for this rundown! i thought I might give this a go with a simple goal like making enough to purchase a prosthetic eye

[@khameleonkoatings719]

with freedom, comes responsibility

[@JoaoPaletas]

I did mine bitcoin "for fun" back in 2009 or 2010, can't be sure, I was a kid, they were basically worthless, I made a physical backup.. that didn't age well. Can't remember how much I had, but I'm sure it was worth something nowadays (:

[@ManicMindTrick]

What happened exactly? You wake up in a cold sweat every night thinking about your lost money?

[@JoaoPaletas]

@@ManicMindTrick My money was worth a few cents, whatever it is worth now I don't know and choose not to care.

[@ManicMindTrick]

@@JoaoPaletas I have lost a lot of btc over the year too and for your sanity you can't let that bother you I agree. Any guess how many btc you had?

[@andresalizaga1]

Same here, let it go man, I had so much anxiety and regret for that.

[@jordinja]

This is absolute gold. I very much appreciate the risk management approach and considerations you bring to all your videos. This video is required watching for everyone investing in crypto. Thanks a million (hopefully literally, one day).

[@jordinja]

12:55 this is a really important point, a lot of people fail to appreciate the oppositional relationship between security, functionality and usability. Ya can't have everything!

[@InvestAnswers]

very well said sir!

[@mr.invisable6919]

Thanks for your help! It has saved this noob A LOT of wasted time and helped me navigate the crypto minefield... Subscribed!

[@TheChinkchow]

The best overview I’ve seen, but no one ever remembers fire risk. Keys should be stored on a steel or titanium plate, using an engraving tool (for steel or titanium), or letter stamp set (for steel only). Titanium has a higher melting point.

[@1974charrua]

Or a fire proof safe

[@TheChinkchow]

@@1974charrua Paper is flimsy stuff. Fire, water, bugs, fungus, and time will destroy it. Fireproof safes cost more than a piece of titanium, or 24 steel washers held together with a nut and bolt. Plus safes are hard to hide.

[@scousehagan1577]

Where are the keys found?

[@halilahmed279]

1. Cold storage always. No exceptions 2.Certain % on exchanges to swap/trade. 3.Multiple ledgers/trezors with max limit. 4. Coinbase pro and Binance for lower taker and maker fees 5. If you have Strong conviction and DYOS - Holding is easy 6. DCA - Time in the market is better than timing the market. SIMPLE - in my opinon of course

[@jesboogie]

Ayy you just gave it all away, DCA!

[@halilahmed279]

@@rc6115 yes. Ledger and trezor are 2 examples of cold storage.

[@fatimaal-mazrui4866]

@@rc6115 but he is saying they are not safe too so what would people use that is safe? Seems like nothing is safe

[@rackcity-sz4oy]

thanks! literally the best video ive watched all year!

[@xjetpilot]

Valuable presentation, especially for those new to the world of crypto currency. Thank you.

[@exwhyz33]

great vid. would have appreciated knowing how you have stored yours

[@fatcat3760]

He already told us he likes paper

[@joed1978]

Can’t wait to see your channel grow.

[@InvestAnswers]

Thank you. Early days yet

[@joed1978]

@@InvestAnswers as much as I love we are going to the MOON! It’s Good to see someone who cares about the downsides too. No offense to others: but for the grown ups: I appreciate your content.

[@Grubbygund]

Thanks James for the no BS alpha! Just subscribed to your Patreon membership as well!

[@ralphhardie7492]

Thank you for your informal and well informed diatribe. Much appreciated. Cheers

[@jamesthompson3099]

To the best of my knowledge, no Ledger has ever been hacked. The data that was compromised was personal data from Ledger's client files. That was a horribly unfair comment.

[@seandelaney1700]

So the hardware company compromised the clients, but their hardware did not? Well yes, I suppose it was unfair to whoever designed the hardware.

[@thygrrr]

@@seandelaney1700 the danger is in personal info being out, but the coins and keys are not out.

[@thygrrr]

Ledger can be hacked / cracked, but the attack is very elaborate. It has also been considerably mitigated. There are a few more attacks, even one or two on Trezor. They usually require physical access, but destructive attacks to just ensure currency is lost also exist. The biggest risk with these wallets - and I love them! - are supply chain attacks.

[@gcruishank9663]

Would love to hear your thoughts on how you see Government regulation/Central bank intervention and how it might affect bitcoin's growth or even demise in the future. That seems to be something that's popping up quite a bit recently.

[@InvestAnswers]

I am prepping a session on that right now as we speak. Will launch in 2 days

[@gcruishank9663]

@@InvestAnswers Cool, thanks!

[@financialeducation4269]

Awesome and very good video! Bought me in subscribing for sure!

[@amstellaam]

Truly awesome. your information is clear concise...and really really important..especially for the generation now coming into maturity when we can see retirement on the horizon... but have many years of youth ahead to want to keep thriving...Thank you SO much. Keep the content flowing!

[@InvestAnswers]

I appreciate that!

[@goopman5627]

Love the Fight Club reference.

[@tylerdurden3347]

Me too!

[@WagnerBeskow]

Best explanation I found on the subject and the most unbiased too. Congrats!

[@InvestAnswers]

Wow, thanks!

[@gracegiles5462]

I have to agree, he looked at it from several perspectives.

[@tadeucarvalho3736]

Excellent explanation. Thank you!!

[@franklyntrades9]

Great stuff James thanks for that looking for someone who understood the risks involved and plan accordingly.

[@stockjonebills]

Great Video. Honestly I think if you are on a highly secured exchange storing with the exchange is 99% as safe than people doing cold storage etc. In the US as an example I mean FDIC insured fully, covered and secured exchanges. I'm willing to wager more people have lost their crypto by forgetting keys, passcodes, damage cold wallets etc. Do stockholders put their stocks on a cold storage device? How many of you use password security services that are cloud based? If crypto exchanges are that easily hacked I question the security of the whole crypto exchange world. It is becoming more established.

[@patriciovalenzuela6119]

Stock holders are secured by insurance, crypto holders are not.

[@LivingWithTheGuzmans]

Thanks for the info

[@InvestAnswers]

Any time!

[@lantran8967]

Best video I've seen so far about this topic. Thank you sir!!

[@joshezeilo809]

Top marks for this answer to very crucial questions on storage of cryptos. Nice one bro!

[@UntwistingTheGame]

Another great video, but the “hacked ledgers” comment is incorrect. I wanted to share this video with someone trying to make the hot vs cold decision, but I can’t because of that statement. The Ledger devices were not hacked. The Ledger company’s data base was. That is a very important distinction. Great video otherwise!

[@InvestAnswers]

Very sorry for the misunderstanding - it comes from the word Ledger and the company Ledger. On December 23, 2020 the France-based LEDGER that sells Ledgers said the company had “fallen victim to a cyber-attack” and that on December 20, malicious software was installed on their servers. As of December 23, they said that it was “technically impossible” to make an assessment of the severity of the data breach. They warned that it was safe to assume that “your funds could be at risk of theft” - my job is to warn folks that when they think things are safe - they may not be. We will find out the full extent of the hack over time on individuals but it is safe to assume they are being phished and scammed at the moment..... fingers crossed all "LEDGER" Ledger holders are safe. If the French company had called their company something like "SafeKeep" it would have been less confusing. Kind regards

[@sprinkle61]

@@InvestAnswers The important thing to clarify is that your KEYS are not at risk, your IDENTITY is at risk. These are different risks. You could certainly lose money to this hack, but ONLY if someone can trick you or threaten you into giving them your keys. As long as you do not reveal your keys, this hack does not effect your funds.

[@jesboogie]

@investanswer pin this 📌 great vid btw

[@mbjac]

7:33 doesn't make financial sense, said the guy who bought £500 of crypto, then a £200 ledger to keep it, in 2010😂😂😂😂😂

[@biffjohnson7107]

GREAT video! Thanks for sharing!

[@chrisbishop6928]

Nicely done! Personally found nothing controversial unless folks find thinking for themselves controversial.

[@u563rick6]

Coinbase and several exchanges have notoriously awful customer support. So that can be a risk also if you ever lose your password or 2fa keys.

[@HarveyMushman]

Thank you for your risk analysis, much appreciated! I feel like having a hardware wallet gives some bellyache. Did I note down my seed correctly, where to store the wallet and the seed paper, does the hardware work in 10 years? On the other hand, leaving the crypto on exchange is just an IOU, gov. can decide this exchange is forbidden etc. the thing with hardware wallets is also the transfer costs on the network. Maybe a mix of both is the solution, makes your funds also more liquid in case you need fast access to some of your funds.

[@HarveyMushman]

@@jeremystubbs4397 what are you talking about? I am engaging in a conversation. I didn't do anything else. Relax, not everyone in the comment section is a bot.

[@InvestAnswers]

@@HarveyMushman I deleted the scammer comments that Jeremy was referring to.

[@HarveyMushman]

@@InvestAnswers thanks for the clarification.

[@kailashsaravanan8551]

Very useful, clearly presented, and clearly thought out. Thank you!

[@InvestAnswers]

You're very welcome!

[@Bobby100]

Great analysis. You changed my mind.

[@ogrehaslayers605]

So far I’m doing BlockFi and Gemini so I can earn interest on my tiny percentage of coins and let it grow.

[@EduardoRimoli]

What about the risk of centralized exchanges being banned or blocked by the big brother?

[@J-Rod73]

Had to go back and watch this one because of all the stuff we're seeing happening in Canada!! Other governments are watching and may do the same in the future. Looking to buy a Ledger. Thank you for sharing this information James!! 🙏

[@Guitars4Stars]

Excellent!!! - Thank you 🙏 sir...loved hearing this!! - Very Important!

[@bryc0115]

Dude yes I've been looking into this for a while! Thank you for making it easy!

[@InvestAnswers]

You're welcome!

[@jorgem4611]

Conclusion = Take these factors and come to your own conclusion

[@InvestAnswers]

precisely.... thank you

[@moshack]

@@InvestAnswers But you mentioned if you have a million dollars in Crypto consider using a hardware wallet, but if you have five hundred dollars maybe the exchange is ok. Those are two extremes. What about the $10,000 to $100,000 range ? That's a lot more than $500 and a lot less than 1 million. I have a Ledger Nano S but have been afraid to use it for the reason you mentioned. It's small and could easily be lost. I value your opinion more than my own at this stage of the game.

[@jksatte]

@@moshack What conclusions did you come to?

[@seandelaney1700]

@@moshack Exactly what I thought, "Well duh" but what about for your average viewer who is neither. A little key you say? Are you kidding me, I'm going to risk my ability to exist on that? Oy vay. 20-26% lost and only a handful even own this stuff, crazy risky.

[@jksatte]

@@seandelaney1700 Not an expert but if you have over 10k I would go with a hardware wallet.

[@dna3169]

You are the best !!!!! thank you I absolutely was comprehending storage wrong !

[@zoharitzhaki8371]

Thanks James and your Team for the work! Keep it going!

[@555noelle1]

Commenting for the algorithm 👍💕

[@InvestAnswers]

You're the best!

[@hsheean]

Man. I gotta say, your information and the way that it is imparted is next level! Really appreciate the effort and research. I shall refer to you as Professor Crypto as I am always schooled when I come to your channel. Cheers!

[@InvestAnswers]

Humbled. Thank you. Did you see the press today - Crypto User Loses Over $100,000 in Bitcoin While Transferring His Wallet - THIS PROVES THE IMPORTANCE OF WHAT I TRIED TO STRESS IN THIS VIDEO!!!!! 4% of Bitcoin are lost every year. Don't BE IN THAT 4% my friends! news.bitcoin.com/crypto-user-loses-over-100k-in-bitcoin-while-transferring-his-wallet/

[@InvestAnswers]

I appreciate that!

[@LeftThumbBreak]

good points. Just to represent the main concern of storing at a CEX is in many locales the risk from the CEX itself and it being beholden to local government is the biggest risk. the money in the mattress concern in many ways is because of this fear. a fear where your biggest worry is not criminal theft but the authorities themselves.

[@MrWslr]

Thanks for the objective advice.

[@williamwilson6499]

I keep most of my crypto on BlockFi. The risk is acceptable and I get great rates.

[@danraine9009]

Do you get paid in cryptocurrency?

[@sprinkle61]

@@danraine9009 Yes, you only get paid in crypto, usually the same one you are lending.

[@danraine9009]

@@sprinkle61 Thanks for the response

[@BrokeTheSeal]

that's pretty brave... now way I'm doing that.

[@felicityrecords]

Could be a Ponzi scheme

[@booboo4ever24]

This is tough, wish you said what you use, im probably gonna go with the Trezor model T, just don't want to lose it

[@generaldirection5123]

Buy a firesafe (UL 72 rated) and find a decent hiding place, NOT the master bedroom, closet, or bath. And/or, get a small safe deposit box at your bank. You can still deposit coins to the cold wallet address and keep track of it with the Exodus software, but you need to connect it via USB to withdraw funds.

[@teslarex]

Great information. Thanks!

[@unikovida6645]

Your efforts are greatly appreciated! Thank you for sharing your wisdom/knowledge!