Privacy

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A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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How can I save my money in crypto privately and safe? (lemmy.world)

submitted 3 days ago by mlxdy@lemmy.world to c/privacy@lemmy.ml

20 comments fedilink hide all child comments

Hardware wallets like Trezor and Ledger are terrible choice for privacy as they're more like hot wallets. You need to download their shitty electron app to configure your wallet and even if these apps are open-source I can't consider them safe, because they have toooooo much features. At the same time they're missing basic features like connecting through TOR network to them which should be must have as they rely heavily on internet features like online exchanges which can easily reveal your data.

Do you have any idea how to access crypto easily while at the same keep it private and safe?

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[–] corvus@lemmy.ml 2 points 2 days ago* (last edited 2 days ago) (1 children)

There are a couple of things you can do:

Hide the app from the app drawer. To open the app you have to go to settings and look for the complete app listing which include system apps. Search how to hide an app for your particular android version.
Connect the phone to the computer and install the wallet as a system app using adb. Being a system appt you can disable it from the app's context menu and the app will not be visible. To open it you have to enable it from the settings.

In both cases is extremely improbable that someone that grabs it will start to look for hidden or disabled apps in an old and seemingly discarded phone. That's why nobody has to know that you save your keys in this way. Just grab an old phone, the older, cheaper and unatractive the better. Nature teaches us that disguise is the best way to hide. And in case is stolen, you have a good amount of time to move your coins to another wallet.

[–] curious_dolphin@slrpnk.net 1 points 2 days ago (1 children)

And in case is stolen, you have a good amount of time to move your coins to another wallet.

In other words, restore the wallet to a different device using the master key, and then transfer the coins?

[–] corvus@lemmy.ml 1 points 2 days ago

Yeah, using your 12 or 24 words you saved elsewhere safely. First create a new wallet having a new set of 12/24 words and select an address to receive coins. Then restore the original wallet with your saved words and transfer you coins to the selected new address. Now your coins are safe in the new address and the new set of words are the ones you have to keep safe.