How to save crypto keys for the long run - Crypto in Plain English - Episode 297 - by cryptohunt.it

How to save crypto keys for the long run

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Remember yesterday's episode about those pesky, hard to memorize crypto keys? By now you know that there is unfortunately no way around them if you want control over your funds, so let's learn how to save those keys so you can't lose them.

There are a few ways crypto keys can vanish: You can simply lose them, because you never wrote them down or that piece of paper you printed disappeared years ago. They could also be destroyed - rain through an open window made your documents illegible, or your dog ate them. Often times the material they are on won't last through many common situations. Or, worse case, someone steals them.

With all that in mind, it's clear: You want them on a medium that lasts, in a location that is safe. Let's look at a few options we like.

The simplest is to print them out and putting them in a safe place. Bonus points if you protect the paper some more, like laminating it. Water damage is no joke. There are also water and fire resistant document pouches you can buy online. But things can still happen to printed documents, regardless of where they are.

Another interesting example is a metal card that you engrave with your key or passphrase. That'll last much longer and even water and fire will do limited damage to it. Some, like the SteelWallet, come with letters you can insert. Be aware though: Making a mistake in copying over your key manually could be costly!

Last, and most expensive, are so-called hardware wallets. They are small USB-like devices made by companies like Trezor and Ledger that save your keys and let you access your wallets through their software. The trick is that the software is on the device, and entirely isolated from the internet. This is almost like the best of both worlds. Just make sure you have a backup - because if the device refuses to power on, you'll otherwise be in a bad place.

Whatever they are on, make sure they are in a safe place as well. Like a safety deposit box or your safe at home. You are unlikely to throw them away if they are in there, and they protect against the elements reasonably well.

And those are some more popular options to make sure you never lose your crypto again. And tomorrow, we'll talk about how to set up a wallet and move your funds there.

This podcast is produced by Cryptohunt.it the easiest place to learn crypto. Copywriting is done by Arndt Voges, Social Media is done by Brett Holleman, Design is done by Carmen Rincon and my name is Christian Byza, Co-Founder of Cryptohunt and I am your host of this daily show.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.