ADA storage


#1

Sorry if this question has already been asked…I’m new here…

I currently hold all of my ADA in the Daedalus wallet on my MacBook air…I have accrued a significant amount (at least in my eyes)…should I start looking into cold storage options like nano ledger or is Daedalus all I really need?


#2

Theoretically, it would mitigate more risks than storing your ADA in your daedalus wallet. If you have some common sense regarding the security and maintenance of your computer you shouldn’t have any problems.

The fact still remains that cold storage wallets are safer. In my opinion, the closest thing you could get to a hardware wallet’s security is daedalus on an air-gapped machine running qubes os (a Linux distro, there are others who are good for security, but this is not a debate on Linux distributions), it is also worth noting that there is no Linux version for daedalus available yet.


#3

tbird,
I use mac and take more cautions than the average Mac user. I have a Nano Ledger while I await the software that will allow me to put Cardano on it. In the mean time I have my Mac firewall turned on to max settings and run an antivirus at near max security settings. I think that will do fine until I can use the Nano Ledger.

~Rick


#4

Thank you!


#5

I bought ADA on exchange and do not dare to move it to my own wallet cause of my history and interactions in the past, sooo looking forward to paper wallets - can’t justify buying a new laptop cause that is that much money less I can spend on ADA.
The struggle is real!


#6

Thats funny that you trust an exchange more than your self.


#7

Come on… I was around to see most of the exchanges launch so why wouldn’t I trust them?


#8

And how long have they been around - less than a year ? An exchange is fallible. It can be hacked. The owners can close shop and run with the money. A Daedalus wallet seed is foolproof. As long as you have that you can recover your ada. As the adage goes: if you don’t own the wallet keys then you don’t own the coin. To each their own but the only exchanges I feel safe leaving coin on are registered ones like GDAX, Gemini and Bitstamp. No way I’m leaving coin on Bittrex, Bitfinex, Binance etc.


#9

I might suggest create a wallet, copy your seed and uninstall the dedalus wallet. Keep on buying and send it to the wallet. If you need to move it then restore.

Ohh please test before sending money btw


#10

Yup!! I’m with you… Leaving mine on Binance…It’s fine.


#11

Do so at your own risk:

It baffles me that people put complete faith in offshore exchanges that don’t even have a customer support phone number. Have you not read about the recent hack of coincheck - the biggest ever ? It’s just lazy to leave funds on an exchange as storage.