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Should I exploit Daedalus or Yoroi to retailer my ADA?

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The function of this video is to debate the professionals and cons with numerous wallets used to retailer ADA.

DISCLAIMER
Everything expressed right here is my opinion and never official funding recommendation – please do your personal analysis earlier than risking your personal cash.

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42 Comments

  1. 01:06 What do you think about keeping your ADA on an exchange?
    03:12 What do you think about Daedalus?
    05:38 Security of Daedalus. Consider investing in a separate computer to store your ADA
    08:42 What do you think about Yoroi?
    11:02 Hardware wallet support within Yoroi
    12:15 Wallets outside Daedalus and Yoroi
    13:19 Personal percentages of ADA held in Daedalus vs. Yoroi
    14:28 Paper wallets in Daedalus
    16:40 Do you trust anyone?
    18:06 Final comments

  2. One of friends recommended making a full instruction sheet for your loved ones and giving it to them on paper on how to access your crypto etc…. in case something happens to you. Bcos your crypto will we worth a lot in the future

  3. I'm 34 years old and have studied computer science since I was in high school, with forensics being my primary focus. I have 25 IT certifications, working on my masters of cyber security, know escalation support engineers at Microsoft, and was involved with the reverse engineering of the WannaCry ransomware that spread across the Internet a few years ago. I've studied this space for quite some time, could make money by getting involved with the communities, but in order to maintain my personal security, I remain a closet crypto asset enthusiast. I wouldn't mind coming on a YouTube feed with you, but I'll want my face blocked out. When it comes down to storing crypto assets, I have a very strong protocol that I use to avoid the possible scenarios that I could lose it….this covers everything from hackers, fires, floods, heat, moisture, physical theft and even EMP strikes. Until Cardano get multi sig addressing (meaning two out of three keys being present to unlock a wallet) this is current protocol that I live by.

    Network Security – My home network is segmented into various vlans (meaning no computer in my house can talk to another computer without me adding a rule in a firewall). This prevents any tablet, phone, IoT device, computer to talk to each other without first going through a firewall and being accepted by a rule that I've defined. Also I don't own any Apple products….there is a good reason for that, just go watch the keynote that Steve Jobs did when he was introducing facetime (there is a reason it didn't work, there is a reason why he asked everyone to turn off their Apple products when coming back on the stage). Most people have a firewall like a netgear that protects them from the Internet, but you want something locally on the network that prevents anything from talking to your computer that you handle crypto assets on. https://www.amazon.com/Ubiquiti-Edgerouter-Router-Desktop-Black/dp/B0144R449W

    Dedicated Laptop – Get you a cheap computer and when you bring it home, manually wipe the computer and reinstall the operating system. Connect this computer to it's own dedicated vlan so nothing else can talk to it and it can't talk to anything else besides the blockchain and time sync servers. Network forensic tools like Wireshark can help you determine the ip addresses and ports that are required to talk to the blockchain. Disable all network adapters that you aren't using such as NFC and Bluetooth.

    Printers – I have a cheap $30 hp deskjet printer that I use to print out seed keys and wallet addresses. Why this? Because I can easily destroy it by tossing it into a fire. This is something you don't want to donate, sell, or give to anyone else for future use. You'd be surprised what digital forensics can do when recovering printed documents that had once been printed to a printer.

    Paper Lamination – Once you have printed out your seed keys, laminate the paper. This will prevent the paper from getting damaged due to floods.

    Fireproof/heatproof Safe – Store the laminated document in a safe that no one has access to.

  4. Hallo Philpa. How to secure and give your family safe access to your cryptocurrency portfolio? It is simple. Take two white sheets of paper, write on them step by step:

    – how and which wallet to download

    – this can last

    – what to do in this case in case of complications

    – everything should be described in detail.

    Then what you do, on the sheet of paper No. 1, enter the first part / half of the private key. For example, the private key consists of 18 words, you enter the first 9 words on the sheet No. 1, and the second 9 words you write on the sheet No. 2. You do two copies of the card number 1 and card number 2. Then the number 1 and the copy go to one person, and card number 2 goes to the other person. You inform these people that in case of any problems they have to meet and connect paper sheets to see the private key.
    I did it. I gave one card to my sister, and gave the other card to my wife's sister. Now, in the event of an accident, our child is secured. At the same time, by giving half of the password to one person, you protect it from responsibility for the security of your money. For example, when you lose money, you do not suspect any of the people you gave cards with a password. And it is unlikely that one person wants to go to another person and would like to ask for private keys because you do not know what the reaction will be.

  5. When I started Deadalus up to re-sync jus a few days ago, I was told I had to accept a wallet migration to a new format to proceed. It's been migrating for 24-plus hours now and is stuck on the same migration time-stamp. What to do? Daedalus keeps on having these kinds of hanging issues, suddenly won't start by it's desktop- and menu shortcuts and things like that and I'm tired of it.

  6. excellent video, I have one question Daedalus wallet usually take for me to open approximately 15 hours because the whole blockchain, is there any way to faster to run node? Yoroi will support staking?

  7. Daedalus is VERY SLOW and does not behave like any other wallet in the crypto space. (Slow is a relative term here. It's not that slow, considering what's going on behind the scenes. But very slow relative to what most people are potentially used too?)

    Yoroi, however, is butty smooth and is a much better option for people that are just getting started. It is installed as a Chrome extension and there is a greater chance of it allowing for"Staking" functionality when the time comes (soon although Philipa informed me that Daedalus will be first?!)! In addition, Yoroi can be used in conjunction with Ledger Nano S for added security….(Cold Storage)

    AdaLite is another wallet like Philipa said…..faster, smooth and can take advantage of added Ledger security.

    If you going to use a ledger, you will need to have it set up in advance…(ie. use "Ledger Live" to install Cardano on the Ledger FIRST!)
    ******SPECIAL NOTE***** in order to use Yoroi in conjunction with NANO S you wi have to start with a fresh install of the Yoroi Wallet. ***BECAUSE only on a brand new install of Yoroi are you prompted select "connect to Leger as an option. (this may get fixed? but it has not at the time of this writing…

    your best bet is to watcha video from Sebastian at Emergo…..he did the best walkthrough I saw!

  8. Always have problems with my Daedalus on a MB Pro (not a dedicated machine). Support basically told me to reload the blockchain. Got tired of doing that repeatedly. Very frustrating I jumped out of ADA because of this but I believe in the project. Maybe I'll try Yoroi. Good work guys.

  9. You are wasting your energy and time on ADA. Only crypto in the whole world price came down during summit. CH is a good engineer but not s good salesman. If btc has a cycle of bull and bear HOW THE HELL IN THE WORLD YOU CAN EXPECT ADA TO REACH $10????

  10. You are thinking right? Man all my ADA gains were gone almost 40%. What a disaster. Today i sold 90% of ADA and got VET. CH is a tricky guy. He didn’t say a one single word about the price of ADA. I lost faith in him. Completely

  11. WoW, Philipa, I could be way wrong with what I said about Daedalus!!!! You were at the IOHK Summit and saw the UI in person!
    COOL!, ok now I feel like an idiot…..so maybe I have it all wrong>

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