I was thinking alot about safety and having big money in crypto only in cold wallet is not enought or
in crypto eschage wallet.
Does it possible to have copies? for example I have 1 btc in exchange and I copy that btc to cold wallet,
it does not mean I have 2 btc, I have same 1 btc, just I have copy or so called backup, this is like a files backups we are using to storage. I have btc one like original in exchange, but if I lost it because of hack, I can restore that btc from the code in cold wallet
It would very big improvment for safety. Having 10millions in cold wallet is very unsafe, also the cold wallet can be damanged and so, having only in echange also many hacks problems and so.
Perhaps you are falling into a common misconception. Your cryptocurrency is not ‘held’ in a wallet, it exists on the blockchain. What you are ‘holding’ in your wallet are the keys that allow you to spend the cryptocurrency. An exchange isn’t going to give you access to the keys to your crypto. You create an account with them that is then linked internally to an address that they control with your crypto. This is where the ‘not your keys, not your crypto’ bit comes in. As such, there is no ‘backing up’ on an exchange, there is only sending crypto from an address that you control to an address that they control or requesting they send ‘your’ crypto (that you claim to own) from their address to yours.
Your ‘backups’ are backups of the keys that allow you to spend your crypto. Your 24 word phrase is like a ‘backup’ of your keys in a different format. You can make as many ‘backup’ copies of this as you want and store them in different places, just be aware that the more places you have them stored, the more places an attacker can use to get to them (ex: don’t store a copy of them on Google Drive). Also, if you are going to store them on a computer that is constantly connected to the internet, I would highly recommend encrypting the text or image first.
As far as other cryptocurrencies go, the concept is the same, you are just storing multiple different keys on your cold wallet (like a keychain). So no, you don’t need another cold wallet for multiple cryptocurrencies (as long as the hardware wallet supports all of the cryptocurrencies you own), but you could choose to buy multiples if you wanted them as another backup to physically store somewhere else. For example, you could have one at home to ‘use’ and another in a safety deposit box for if your house burns down. Alternatively, you could save the money and just put a piece of paper with your 24 word phrases in the safety deposit box. The only difference is that the hardware wallet requires your pin to access while anyone (who can manage to get access to your safety deposit box) can read the piece of paper.
Sero gave good information, but just to focus on this question: there is no restoration of ada on an exchange, in that case you don’t have keys/seed phrase and don’t need them.
Sorry but it looks like you need to educate yourself on blockchain/cryptocurrency fundamentals. I don’t believe anyone should invest without understanding at least the basics of what they’re investing in.
Yes, now it is clear about wallets restoration, but seed keys I just have to be written somewhere, I dont need
Ledge, I dont understand what the advantage to have Ledge against simple picture with seed keys in safe place
Primarily, it’s another layer of protection for if someone physically gains access to your keys (hardware wallet/paper). Technically, you don’t need a hardware wallet at all. After all, in the good old days with just Bitcoin, no hardware wallets existed (or even seed phrases for that matter).