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Cold Wallets or Gatehub?


Redman042
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Ive been doing a lot of reading and chatting with fellow investors regarding security and safety of our XRPs and BTCs. it seems I cant come to a definite answer, so ill ask here:

 

What do you consider better in terms of security? a cold wallet i.e. rippex, exodus, etc. or gatehub?

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Best is to generate a keypair on a secure pc, print it, store is somewhere safe.

But it's not really convenient for trading.

 

You can also use the Ripple Desktop wallet (Rippex version is good), store the wallet file on an usb key, and print the secret key.

But it will only be as secure as your computer is.

 

You can also use a gateway like Gatehub with 2AF on phone.

 

https://www.xrpchat.com/forum/41-tutorials/

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there is nothing to test, but you can view your secret key in Advanced on Wallet page.

Don't store it on your computer if you have 2AF it would bypass it, store only on an offline device or on paper if you want to backup it.

Edited by namini
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  • 2 months later...
On 10/05/2017 at 9:47 PM, namini said:

there is nothing to test, but you can view your secret key in Advanced on Wallet page.

Don't store it on your computer if you have 2AF it would bypass it, store only on an offline device or on paper if you want to backup it.

What do you mean about 2FA bypass? That wasn't clear. I find it to be quite a tough authentication method to bypass. Cold storage comes with its weaknesses too, even if not from hackers. I wonder what's the likelihood of misplacing or having other people access your printed wallets compared to the chance of a hacker stealing your funds, even on unsafe accounts.

Edited by SafeGamble
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On 5/10/2017 at 7:15 PM, Redman042 said:

Ive been doing a lot of reading and chatting with fellow investors regarding security and safety of our XRPs and BTCs. it seems I cant come to a definite answer, so ill ask here:

 

What do you consider better in terms of security? a cold wallet i.e. rippex, exodus, etc. or gatehub?

If you can not come to a definite answer, then you have not been doing very much research. The tutorial section here will explain everything you need to know and the authors can answer any of your questions.

Edited by Xilobyte
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On ‎8‎/‎6‎/‎2017 at 1:12 PM, Xilobyte said:

If you can not come to a definite answer, then you have not been doing very much research. The tutorial section here will explain everything you need to know and the authors can answer any of your questions.

i actually have been doing a lot of research, and no I didn't come to a definite answer. that's why I asked on here. but thanks for your input, not much help, but thanks anyway.

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13 hours ago, Redman042 said:

i actually have been doing a lot of research, and no I didn't come to a definite answer. that's why I asked on here. but thanks for your input, not much help, but thanks anyway.

You have not, because if so you would have read several times about the dangers of keeping your money not only in Gatehub but any online wallet. You would also know the a Cold Wallet computer is the #1 best method to protect yourself. The tech authors whom write these tutorials for you, do so, so that you have a full understanding why. If we simply tell you the straight answer, it will do you no good at all if you do not understand the 'why.'

You need to understand what an online wallet is, who really owns it, how is it programmed and why is it different than a cold wallet. All of that is clearly stated in several tutorials here on XRP chat. The authors took a very long time to write these articles and you state it is "not helpful" because you are too lazy to read it.

However if you had asked a specific question about a tutorial or article to better clarify your understanding, it would have been far more indicative of your massive research. 

Nothing wrong with asking, but when we point you in the correct direction, it is to give you a better understanding than the one you are asking for. That is what the experts do for the students instaed of giving a straight up answer that will not solve the future problems that you are going to face.

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10 hours ago, Xilobyte said:

You have not, because if so you would have read several times about the dangers of keeping your money not only in Gatehub but any online wallet. You would also know the a Cold Wallet computer is the #1 best method to protect yourself. The tech authors whom write these tutorials for you, do so, so that you have a full understanding why. If we simply tell you the straight answer, it will do you no good at all if you do not understand the 'why.'

You need to understand what an online wallet is, who really owns it, how is it programmed and why is it different than a cold wallet. All of that is clearly stated in several tutorials here on XRP chat. The authors took a very long time to write these articles and you state it is "not helpful" because you are too lazy to read it.

However if you had asked a specific question about a tutorial or article to better clarify your understanding, it would have been far more indicative of your massive research. 

Nothing wrong with asking, but when we point you in the correct direction, it is to give you a better understanding than the one you are asking for. That is what the experts do for the students instaed of giving a straight up answer that will not solve the future problems that you are going to face.

Seeing that im still fairly new to BTC, XRP chat, and cryptocurrencies in general, I was ignorant that this website even had tutorials. your initial comment to my message was condescending to begin with, hence my response to it. if you would have just said something to the effect of "hey, there are tutorials that can explain that in depth, heres the link". that would have helped a lot more than to come at me in an insulting manner, by implying that I was lazy, and then explicitly typing it in your latest answer. I wont be responding to you anymore from here on out, because I don't have time for behind-the-screen back and forth with a total stranger.

 

but thanks again for the input.

 

have a good one!

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@Redman042, I feel your pain. I too am new to the whole cryptocurrency world. As for tutorials, I've checked the "Links & Resources" tab and didn't come up with much. 

 

I currently have a very small account on Gatehub but I'm looking for alternatives. Some of the stuff I've researched on cold wallets, hardware, etc., lead me to believe that these are all geared to the more tech-savvy individuals, which I am not. I'm worried about making a mistake and misplacing my meager shares, never to be seen again...:unknown:

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I have a pretty non-technical write-up here explaining most things you need to know about Ripple and blockchain overall.  I'm trying to make a less technical explanation of things in general.

https://www.theworldexchange.net/#about

The part about exchanges vs wallets can be found here.  

https://www.theworldexchange.net/#global (see second paragraph starting at "This is the way a truly decentralized exchange should be.")

I only call my site an exchange because that's the practical function but it technically is a wallet - the exchange part is built into Ripple already and no one needs to actually build a site for that.

In my opinion, the safest way is to create multiple wallets so you don't risk having all your money in one place.  Sort of like banking where you have checking accounts for daily use, savings accounts for long-term storage, etc.  That way if any one account gets compromised, it's limited impact.

Edited by pftq
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