🔍
When You HODL Use This — Keep Your Crypto SAFE! - YouTube
Channel: BitBoy Crypto
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crypto is about ownership you are your
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own bank one of the most common
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questions people ask me is what is the
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best way to store my crypto this is not
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a topic we take lightly
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unfortunately whenever there's money on
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the table there will always be desperate
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people out there who are willing to
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steal it this industry is worth over 2.6
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trillion dollars without much on the
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line you should take every precaution
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and do everything in your power to
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protect your piece of the pie let's get
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it
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welcome to bitboy crypto home of the bit
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squad the largest and greatest crypto
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community and all the interwebs my name
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is ben every day on this channel i show
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you how to make money in crypto if you
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like money in crypto then make sure to
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hit that subscribe button in this video
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we look into the newest features where
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the best hardware wallet on the market
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ledger it's a normal morning you check
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your phone to see how your portfolio is
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doing but when you open your favorite
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exchange app
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you see nothing but zeros
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your blood turns cold what happened
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did everything just rug
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it's every crypto holder's nightmare
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yes most exchanges are pretty safe but
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the truth is all online exchanges or hot
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wallets are connected to servers
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anything connected to a server has a
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chance of being hacked there are
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documented attempts to break through the
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firewalls and major exchanges every
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single month
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but even with the technology and
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security of the crypto community growing
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stronger every day
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malware and viruses are becoming just as
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sophisticated i've seen firsthand what
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some of these hackers are capable of
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it's terrifying
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computer hacking aside the majority of
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people that do get their crypto stolen
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lose their investments because they
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didn't properly protect their passwords
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or backup phrases
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the best way to prevent any of this from
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happening to you is to purchase a cold
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storage hardware wallet cold storage
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means it's completely offline
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consequently impossible to hack into
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through a server the best cold storage
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hardware wallet that i personally use to
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protect my crypto assets is ledger this
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simple easy to use wallet secured by the
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industry-leading ccel5 plus certified
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chip
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is a must-have for any serious investor
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launched in 2014 ledger has been
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dedicated to helping the crypto
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community take full ownership of our
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investments i'm sure you've heard the
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phrase not your keys not your crypto
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think of it like renting an apartment
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except you don't own the keys
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every time you want to unlock your front
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door instead of using your key
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you have to go to the landlord and ask
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them to unlock the door for you
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that doesn't make much sense does it
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but leaving your coins on an exchange is
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exactly that
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thankfully the landlords are just a
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click away
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but what if they aren't
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what if they're being hacked or there's
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an intense outage
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you won't have a key
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and your tokens could be anything but
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safeundo
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and not an exchange
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you personally take complete ownership
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of your crypto this also eliminates any
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opportunity for someone to hack into
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your wallet to steal your funds because
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with ledger the link to your investments
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your private keys
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would be offline in cold storage
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once you have your ledger device you can
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use the ledger live app where you can
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buy sell exchange lend and stake all
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your favorite coins from the convenience
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of your phone or computer to make sure
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ledger supports your favorite altcoins
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be sure to check out their supported
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crypto assets page
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ledger is currently selling two
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different versions of their wallet the
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ledger nano s is a great device for
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newer investors to learn how to take
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ownership of their private keys now
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before we get too much further into this
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video if you're interested in buying a
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ledger you can head on over to
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bitboycrypto.com deals scroll down to
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the ledger section located near the top
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of the page and boom you can get your
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own ledger now the ledger nano s can
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hold up to six different apps and is
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compatible with over 1100 crypto assets
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on the nano s you can manage over 1800
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coins with a ledger live app you can
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also purchase ledger nano s starter
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packs that come with a step-by-step user
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guide on how to get set up along with a
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25 voucher for the coin of your choice
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that you will receive by email two weeks
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after purchasing your device and like i
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said for more details make sure to check
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out the deals page at bitboycrypto.com
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although the nano s is a great place to
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get started the ledger nano x is the
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whole package with the nano x you get
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compatibility with ledger live mobile
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that works with androids and iphones the
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nano x also has a larger screen with
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high resolution and a battery that lasts
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up to eight hours
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this state-of-the-art hardware wallet to
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safely store your investments is without
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a doubt the best cold storage wallet on
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the market cold or hot the bit squat is
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where you want to get the latest
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information education and dank memes in
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crypto smash that like and subscribe
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button to join the bit squad and stay in
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the know whichever ledger device is best
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for you get started by downloading the
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ledger live app which is essentially
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your home base to manage your crypto
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assets
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once connected to ledger live follow the
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prompts on the screen of the device to
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choose a pin code and write down your
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recovery phrase
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it's imperative that you protect your 24
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word recovery phrase
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this is your master key without this
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phrase you will not be able to recover
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any of your assets
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keep this as safe as possible it's very
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important to not write the phrase down
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on your phone or computer
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instead write it down on a piece of
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paper and store it somewhere safe
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in fact it's not a bad idea to laminate
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it do not share your phrase with anyone
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be sure to double check that you spell
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each word correctly
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one misplaced letter could be
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devastating
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never use a device applied with a pin
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code or recovery phrase
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this is an easy way for someone to set
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you up to steal all your crypto
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keep in mind it is your job to
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physically secure your recovery phrase
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because ledger does not hold any backup
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of your 24 word phrase
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to help keep your recovery phrase safe
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ledger designed the crypto steel capsule
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and bill photo
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these are steel impenetrable cases
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they're waterproof and fireproof
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designed to withstand fires twice as hot
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as the average house buyer kind of like
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me
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these practically indestructible cases
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are the ultimate protection for the
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backup of your private keys
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after securing your recovery phrase all
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is left to do is install applications on
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your device add an account to manage
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your crypto and you're ready to go after
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signing up through the bitboycrypto.com
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deals page you can then go to ledger.com
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for a step-by-step walk-through of any
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of these initial setup steps
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the team at ledger is constantly working
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to improve their products in order to
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keep your investment safe
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just a few days ago the ledger nano x
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2.0.0 firmware update was released this
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update will reduce the onboarding time
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for new users this is accomplished by
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only requiring users to choose four
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specific words from their 24 word
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recovery phrase compared to going
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through every single one of them when
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confirming your backup phrase
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this update also improves security by
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allowing users to change the bluetooth
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device name
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as well as showing you the remaining pin
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login attempts the update process is
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very simple go to the manager section on
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ledger live connect your nano x device
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and boom start the update as well as
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having the best hardware wallet on the
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market
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team at ledger puts in a massive effort
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to keep their users informed and up to
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date with all things crypto the ledger
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academy found on their website has a
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vast number of articles videos and
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tutorials to help get new investors up
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to speed
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they have a very informative weekly
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newsletter called ledger bites
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ledger also has many weekly segments
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such as on the ledger podcasts down the
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rabbit hole the story the deep dive
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my personal favorite
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school of flock
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it's a great name
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be sure to check out the newest
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hilarious episode of school of block
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that answers the question
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what will happen to your crypto when you
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die
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quite morbid
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it's one thing to spend ten thousand
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bitcoin on a pizza it's another to lose
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your crypto through no fault of your own
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if you read enough articles for long
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enough
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you will see those unfortunate cases
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where people have lost
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hundreds of thousands of dollars and
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more
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that's the last thing we would ever want
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to happen to someone in the bid squad
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like i've said before
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the goal of this channel is to educate
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and inform the crypto community on
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relevant news and information in the
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financial community our mission
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statement is empowering people to find
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financial freedom through crypto assets
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we also need to make sure you protect
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and secure your hard earned crypto and
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that should be your top priority and
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ledger is the best way to lock it up for
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safe keeping that's all i got be blessed
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[Music]
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you
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