Quote:
Originally Posted by wankawonk
1) yes, though most wallets give you a "seed phrase" which the private key is derived from. I use electrum bitcoin wallet, it generated a seed phrase for me which I stored in an encrypted file. I could download electrum on a different machine, input this seed phrase, and access the funds.
2) 1 seed phrase can generate infinite addresses. electrum makes this easy. metamask wallet (for ethereum) also makes it easy. just give it a try, you'll see how easy it is.
don't keep your seed phrase in an unencrypted text file. if you're storing your seed phrase digitally, it would be best to store it in an encrypted file on an encrypted USB drive or on a machine with an encrypted hard drive.
also I would recommend using linux for crypto transactions, there's too many viruses targeting windows/osx
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Thanks.
I like the idea of hardware wallets, although as I am now looking at exchanges, I see more similarities with central banking than I expected.
I'm interested in crypto as a non-discriminating payment method, but it seems like a hassle with fees (and taxes) for shuttling funds.
It seems easier to Fedex cash than do a crypto exchange.
Again, I'm not interested in investing in crypto, just transacting.