Digital Keys and What Not

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If you hold any amount of cryptocurrency, then you must also understand that safe guarding your wallet keys are of utmost importance. How and where do you save your keys? Do you commit it to memory? I will applaud those who do, but if I were to, I have 4 different keys I interact with on Steem alone, I don't trust myself to remember 2 unconditionally, how can I talk of 4 or the others.

It's been said that hardware wallet is the best bet when it comes to safekeeping your keys, I totally disagree, I mean, are you kidding me? The hardware wallet is like a flash drive with some special software, yes it could be hack proof but I can easily 100% misplace my flash drive, there are obvious chances of misplacing an hardware wallet, and so are other hardware like options such as writing the keys in a piece of paper.

What other options do we have left? Considering that I must likely be able to reach it at any point in time, Save it in email? Total no, infact almost every method that can expose those keys to the world wide web is very discouraged, as much as we have talented and professional pick pockets on the streets in world 2.0, so do we talented and professional hackers in our digital world.

Imagine Satoshi Nakamoto had a twin brother (or brothers since the bearer could be an entity) and he/she/they were the bad guy(s), that's Satoshi alone, imagine Dan Larimer and Vitalik Buterin had twin brothers who were super skilled hackers, I know they probably will be on the prowl for wallets with millions of dollars in them rather than mine, lol, or maybe yours, but it doesn't make us less vulnerable or prone to attacks.

You'd be surprised that a parody account of Malia Obama was asking me for 200$ in my twitter dm, so she could send me her boobs.

I knew it was straight out scam because she did send me the picture of a pair of boobs but I did'nt pay for it, excuse me, how much is my whole net worth? Lol, let's not kid ourselves. But the picture was followed with a link asking me to click for more. Bam! Scam! I click it and open my system to all sorts of what could be embedded in a link. Cheap scam.

Call me paranoid but I watched a movie recently Oceans 8, where Rihanna hacked into some dude's computer just because he clicked an image she sent to him online, she was basically in his computer, I can't take my chances, if you want to, be my guest.

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The reality is that the more we advance in the adoption and use of crypto technology so does the matters concerning its security and the safety of funds.

Blockchains are quick to let you know about them, once you're in and they dash you your keys, the rest is pretty much bye bye, its just the nature of the business.
For me, the best option is storing my keys on a decentralized server. Its not on my computer, its not in paper or hardware wallet, nor in a centralized server, its on a decentralized file storage built on a blockchain.

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I'm not a genius, the tools are out there actually, take Envelope app for an example, its built with its core as Blockstacks blockchain, originally the underlining technology used in developing blockstack are properties from bitcoin blockchain, it is a trustless app, end to end encrypted, you basically own your pieces of data stored in the envelop app.

That's just an example, there are a myriad of other platforms out there that are built on the blockchain infrastructure which subjects its applications to a fair amount of decentralization, hence providing no need to "TRUST" a central body for your data's security or safety.

My most preferred way of storing passwords is in a note dapp, i.e, a note editing application built on a blockchain, decentralized, trustless and all that. One of the major reasons why I opt for these decentralized apps is that they are easily accessible. One of such is the Standard note app, if you'd like to see a full review about the standard notes app, please click here.

Most of these decentralized applications could be accessed by using both an app and a web interface so lets assume you're somewhere and the only thing you have is a connected computer and you had to access your wallet keys, all you have to do is launch the web browser and enter the applications address and hit search. Once you get to the apps web page, log in with your ID and voila you have your keys.

A lot of people will say crypto is just an experiment and as such, only invest what you're willing to loose. Some of us don't have the luxury of that, for some of us, our investments in crypto is all we have and so extra due diligence is required and expected that we take precautions more personal.

I choose to conclude by saying nothing is certain and as such one can never be too safe, or too secure or too prepared for anything that comes by, going by this school of thought, why not have all the available options. Save them keys in a paper and keep it away, yet also have an hardware wallet if you can afford one, embrace the decentralized file storing apps ,and yeah lastly, memorize them all.

If someone tries all these and still somehow misplaces their keys, then maybe such person should not be involved in crypto at all or better still, the person should not invest more than can be lost.

Thank you for reading….

Disclaimer
Not a financial advice….kindly dyor

P.S

My links are safe to click.



Posted from my blog with SteemPress : https://steemhosting.com/kilimanjaro/?p=42


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7 comments
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A small upvote and an extra tip!
$trendotoken
Thanks for playing the ONECENT trading game!

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Great post. Thoroughly
enjoyed. Thanks for much needed information.

Posted using Partiko iOS

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Thanks for reading and leaving a comment. Cheers

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Strong post with good information. I didn’t know about these Apps.
Thanks!

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Thank you for coming by, glad you could get something..

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