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i am new to the world of digital assets and i am asking for some information on the methods used to store coins. right now my coins are on the exchange and it seems the consensus is they need to be moved. i have opened a Toast Wallet and right now plan to move all the coins there but i though to ask the community first to maybe learn more details about the overall process of storage. i do have a bit of a bitcoin, a few litecoin and iota, any information about storing those is also welcome
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I have been looking into all 3 coins because I feel that the need for data storage is going to continue to grow and one of these companies will be able to capitalize. I am really just looking for info I have not yet been able to find like corp partnerships and upcoming news. I am leaning towards siacoin because of their cheap coins and completely decentrailized platform, but I see some issues with is as well (no smart contracts). Any thoughts?
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Hi Guys, I have been into Ripple for few years but I am "Dinosaur" from technology point of view so need help with following questions, if you know the answers, any help would be greatly appreciated. how safe are cold wallets, and can one be sure of safety and security of cold wallets ( no offence to developer) as developer would know all the loopholes and may have access to security key, same issue with ledger s nano..? if your cold wallet stops working out of the blue, and the person managing it disappears, whats gonna happen to the funds..?
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Where do you store your ripples? Online or desktop?And why? I personally wonder how safe offline wallets are, because I myself store there a ripple.It does not require installation and it can be stored on a flash drive, or in an archive, by putting a password. If this topic has already been, then sorry.
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I have been hearing about people having problems with the jatchili client, so I haven't taken that plunge yet. I purchased two ledger nano s wallets, but I haven't set them up because I cannot wrap my head around the 24 word seed needed to secure the Nano S wallet. If there are 7 wallets on the nano (BTC, ETH, XRP etc.), and each wallet requires it's own unique 24 word seed, how is it that the nano can retrieve ALL of your wallets with one 24 word seed!? This makes me think that the secret keys for all of the wallets on the nano are stored someplace. If XRP cannot be removed from the ledger, then would that mean that any wallet you use (cold/offline/air-gapped) is just a method of securing the secret key in order to authorize transactions? The Jatchili client was suggested. If I understand this correctly, when you create a wallet, you create a specific identity on the ledger with it's own secret/public key. When you "transfer" the xrp on the ledger, you are really authorizing the xrp to be "owned" by the new wallet. Is this correct? -
Hello everyone! As the title suggests, I am concerned with the storage methods of XRP. Recently, I have heard people mention trouble with the Jatchili client, as well as other wallets, when sending/retrieving XRP. I am very leery of installing a wallet on my WIN7 PC, as there are many vulnerabilities, some of which we are not even told about until years down the road. I have not completed the setup of my Linux Mint Cinnamon as an air-gapped computer is still not secure. Recently, we have been made aware of NSA malware, OutlawCountry, that was distributed by ShadowBrokers. I have two Ledger Nano S hardware wallets, and they confuse the crap out of me: if every wallet on the Nano is required to have it's own unique secret key, and each secret key requires it's own unique 24 word seed, how can the Ledger Nano retrieve ALL secret keys with it's OWN 24 word seed if your secret keys are not stored anywhere? The purpose of the hardware wallet was to secure my Secret keys ON THE DEVICE, not stored somewhere for the Ledger to retrieve. How is this possible? Another question: Does anyone know of any wallet that is being developed where the developer does not have access to your secret keys, only generating the keys on the device as it is connected to the XRPL? We all need a secure way to claim our XRP. If there are wallets/software developed for banks/MMs to use it as an asset in a secure way, then there should be for commercial use as well. I would imagine a Hardware wallet with a large storage capacity would suffice (allowing for the addition of other wallets in the future). Help with this would be appreciated! O-1
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Ive done some searching, but havent really been able to get a crystal clear answer, hoping one of the more experienced people can help. Just so you know, I already have a Gatehub account with XRP in it, I'm verified and so on, thats all good to go, my questions, as the title states, are about paper wallets / cold storage. 1. Once i choose a paper wallet (liking ripplepaperwallet), i understand the safety protocols to create a new wallet and address etc, so to be clear, I simply now send the XRP to that address, and thats it? 2. Assuming that is in fact all there is to it creating the paper wallet, and i then send XRP to it, where is the XRP? I get that this paper wallet sort of becomes like a bearer bond, but is it sort of "removed" from the blockchain with a digital bookmarker that says "X amount of XRP exists, but its in cold storage somewhere"? I guess im curious about the backend of such a process. 3. To get the XRP back into the exchange, is it simply giving my account in the exchange the secret key, and it puts it back? Im sure this has been answered a bunch of times, but so many of the threads have gone off on tangents, and I hate wading through all of that, so a big thankyou in advance.
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Can the Ledger Nano S work as a Ripple cold wallet yet?
Matthew posted a topic in General Discussion
Just wondering if the Ledger Nano S works as a cold storage Ripple wallet yet or does it still need to be updated. P.s. I know I'm retarded give me a break... -
With the recent announcement that Ripple will be supported before May 22nd, has anyone gone ahead and purchased one in anticipation? Or are we mostly waiting for the confirmation that it is live before doing so? Meanwhile, interested in hearing everyone's views on a couple other questions: 1. Is there any sense in buying 2 (1 for backup?) Or would this be unnecessary, given that you can restore your configurations with the 24-word recovery seed with any new Ledger Wallet anyways? 2. Would you try to find the hardware wallet's private key and store it somewhere, in case you lose the 24-word recovery seed? (Or does this defeat the purpose of the hardware wallet security of hiding your secret key, even from yourself?) 3. Would you transfer all your holdings onto the Ledger Wallet, or diversify and split your holdings among several places 'just in case'? (e.g. some in cold storage, some in exchanges, and some in hardware wallet)
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So after a while I have wanted to create a new cold wallet (like in the clip above). But now I can't seem to find one on Ripple.com?
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I started this topic because I am tired of waiting for someone else to furnish a hardware wallet to the Ripple/XRP community. I'm a former product developer, with hardware and software experience. This project will need skill-sets in hardware development, micro-computer coding, internet coding, testing, and manufacturing. I feel that with the right group of people we can make a world class HW Wallet that will enhance the value of XRP (besides giving everyone a convenient and safe place to store their XRP). Beyond that, we can leverage the knowledge gained, with our experience, to go on to bigger and better things with Ripple. This project should be considered a commercial project, and sales profits of the wallet will be distributed to the team. In other words, this is a serious development project for experienced people, willing and able to put in the time and effort. If you are interested, please post here, talking about your skill set and how this could proceed.
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https://forum.sia.tech/topic/783/sia-v1-0-3-released "We are proud to present a fully decentralized cloud storage platform. And by fully decentralized, we mean that we could turn off all company owned and employee owned servers and nodes, and the network would barely notice."
