RE: AskLeo - What Percentage of Your Crypto Holdings is Stored On Exchanges?
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Its ok to have some of it in an exchange IF you are actively trading it or about to trade it in the near future. But if you are just using the exchange to store your savings, then yes get it out of the exchange ASAP.
Dont move it to a mobile wallet app btw, those are almost as risky as on an exchange, mobile wallet apps + browser plugin wallets have the worst security by far. Best thing to do is put it on a reputable desktop PC wallet app + use password protection + use full disk encryption on the hard drive with Veracrypt + make 2 encrypted backups.
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Actually just holding over there. I guess I know what to do now. Thanks for the advice
No problem, I am glad that you found my comment to be helpful. BTW veracrypt is great for anything on your computer. I use "full disk encryption" (which encrypts everything on the drive including the operating system) so that as long as your PC is off a thief cannot get anything from it if they steal your computer, it will basically be a dead/blank drive to them. And also a veracrypt "container", which is basically just a password protected folder that you can easily copy, move, backup and everything else just like any normal file so its really easy to use + it is cross compatible with Windows + Mac + Linux, sweet! ;) You can learn the basics of it in under 45 minutes, and your data will be 1000x safer than unencrypted data. It is also better than any built in encryption software by Microsoft or Apple, as those are closed-source and they can probably still break in to your computer with a backdoor, whereas Veracrypt is open source and their encryption algos have never been cracked ever that I am aware if. and if youre extra paranoid you can even double-encrypt with 2 or more types of encryption for mega protection.
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veracrypt seems well sophisticated and water tight. Working on doing just that. Security is very important, wouldn't want to be rug of my hard earned shekels. Much appreciated recommendation
yes Veracrypt is the gold standard on computers. It is extremely reputable, and has been around for ages. They took over the former version of the project called "TrueCrypt" and further enhanced it. They even went so far as to add decoys and advanced strategies in case someone has a gun to your head and is forcing you to unlock your device to steal your crypto, such as fake error screens or even features to pretend your PC is broken...amazing stuff!