Quite new to cryptos. Got some XRP which I’ll be putting on a Ledger Nano S when it arrives.
Planning on buying some Safe Ex as soon as the option to buy is back up on the site.
I realise the wallet is not available yet (although it will be on the 9th).
If I use ‘option 2’ and put the number on a USB pen and another copy printed out on paper (which I won’t lose as I have a great spot for it). Is this essentially a paper wallet (even the USB as it’s unprotected)?
And as long as I don’t get my USB or piece of paper stolen, when I want to exchange the coins for another crypto currency or USD I can just go to an exchange and write out the number?
Note: I’d make sure my USB does not get used in the meantime to avoid hacking, it’d be stored away long term. Is this a relatively safe method? I guess I could do a basic password protect on the USB flash drive as well.
When the wallet comes out, what will it look like (roughly) and are most cold wallets kind of similar?
Bonus question: What would be the difference between storing it on the safex wallet and on a Bitcoin address? I’m guessing the BTC address could be on a cold wallet (i.e. ledger nano s).??
This should help. I would put them on a paper wallet, unless the desktop wallet is more your speed. That comes out on Wednesday. Also, here’s a head’s up. The windows version of the XRP wallet app doesn’t work for Ledger, right now. The Linux and Mac OS ones do, though.
Yeah that wallet has worked for me since I first installed it a few weeks ago. I had assumed you were talking about the ledger wallet for the Nano S. They did tell me that Google was dropping support on the Chrome extensions for their wallets, so they had native wallets in development that would be out by the end of the year.
I might just keep a paper copy then and a USB back up, seems like this is a good method.
I still don’t completely understand what the safex wallet will do that you can’t already do from keeping your private keys? Is it just a more convenient way than storing a bunch of letter and numbers on file?
Is it more secure because it requires a password etc?