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Geeky Gadgets
7 days ago
- Business
- Geeky Gadgets
Finding the Best Solana Wallet: A Guide to Secure Solana Storage
Navigating the world of cryptocurrencies can be both exciting and daunting, especially when it comes to choosing the right Solana wallet. With a plethora of options available, users must ensure they select a secure option that aligns with their digital asset needs. Understanding Solana wallets Solana wallets are essential tools for anyone looking to buy, store, swap, send, or receive Solana-based assets. These wallets allow users not only to hold Solana securely but also to interact seamlessly with web3 apps. The decentralized nature of these wallets offers users privacy and control over their funds, unlike traditional banking systems. When evaluating Solana wallets, one must consider features such as security protocols, user interface, and additional functionalities like staking and NFT support. Solana's architecture inherently supports high-speed transactions and low fees, making it a preferred choice among crypto enthusiasts who need an efficient system to handle their assets, including using a Solana wallet. The importance of crypto security and self-custody Cryptocurrency security hinges on the principle of self-custody. Unlike keeping money in a bank, where an institution holds custody, with cryptocurrencies such as Solana, the responsibility lies with the owner. This means holding private keys securely is fundamental to prevent potential theft or loss of funds. Hardware solutions have emerged as a popular choice due to their enhanced security measures. These devices store private keys offline, minimizing exposure to online threats. While termed as highly secure, owners must follow best practices in usage to maintain their assets' safety. Ledger, for example, is known for its robust security features, providing an excellent means to safeguard Solana-based assets. How self-custody impacts user experience With the rise of decentralized applications, maintaining full control over assets has potentially never been more important. Self-custody empowers individuals to participate actively in the crypto economy, fostering true ownership. It requires individuals to act responsibly, ensuring private keys are managed judiciously. The independence this setup offers makes it an attractive option for tech-savvy investors seeking autonomy over their digital wealth. Moreover, the ability to engage directly with staking opportunities exemplifies the freedom that self-custody brings. By managing personal assets, individuals can stake Solana tokens within their wallets to earn passive income through network participation—a compelling reason to consider Solana wallets as a strategic investment tool. Exploring different types of Solana wallets Selecting the most suitable Solana wallet involves understanding the nuances of each type. Below is an overview of the common categories: Hardware wallets: Known for exceptional security, these devices safely store private keys offline. Ideal for those prioritizing protection against hacks and malware. Known for exceptional security, these devices safely store private keys offline. Ideal for those prioritizing protection against hacks and malware. Software wallets: Offering flexibility with mobile and desktop versions, these wallets bring convenience and versatility, enabling users to connect easily with dApps and manage assets on-the-go. Offering flexibility with mobile and desktop versions, these wallets bring convenience and versatility, enabling users to connect easily with dApps and manage assets on-the-go. Web wallets: Accessible via internet browsers, these wallets provide straightforward access without requiring installation. However, they may present higher risks compared to hardware alternatives. Leveraging hardware solutions: A closer look at Ledger Among the myriad of choices, Ledger stands out as a leading provider of hardware wallets. Recognized for its durable design and intuitive interface, Ledger caters to those seriously committed to securing their Solana-based assets. Its advanced security features include a unique operating system and a secure chip, specifically engineered to protect against emerging cyber threats. Through Ledger Live, users gain access to a comprehensive dashboard for tracking their portfolio, participating in staking, and engaging with other web3 apps. Its broad compatibility with DEFI projects further enhances its appeal, positioning it as a smart choice for long-term Solana asset management. Secure Your Solana with Confidence and Control As Solana continues to power fast, low-cost blockchain transactions, choosing the right wallet becomes key to maximizing both security and usability. Whether you're managing NFTs, staking tokens, or diving into DeFi, embracing a self-custodial solution like Ledger offers unmatched protection and complete ownership of your digital assets. By taking control of your private keys and leveraging trusted tools, you set yourself up for a secure and empowered journey through the Solana ecosystem. Filed Under: Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Daily Mail
08-06-2025
- Business
- Daily Mail
'Bitcoin Family' take drastic measures to protect themselves amid crypto kidnappings
A family that famously bet their entire lives on Bitcoin has taken extreme measures to protect themselves and their digital assets amid an alarming string of crypto kidnappings. Didi Taihuttu, his wife Romaine and their three daughters have branded themselves as the 'Bitcoin Family' for living solely off cryptocurrency since 2017. Before Bitcoin took off, Didi sold everything his family had - from his children's toys to their 2,500-square-foot home - to move to a campsite in the Netherlands and continue buying the assets. Now, the family flaunt their unconventional yet glamorous day-to-days online, showing their tens of thousands of followers the upsides of an 'unbanked' lifestyle as they travel the world. But a slew of kidnappings and murders of prominent crypto executives has shaken the family, prompting them to adopt a drastic new storage model for their coveted crypto codes. They have not only ditched hardware wallets - physical devices used to secure crypto keys offline - but opted for a complex security method that sounds straight out of a spy movie. The family has spent the past eight months hiding metal cards engraved with segments of crypto codes dispersed across four continents. Other pieces of these seed phrases - the recovery passwords for their crypto wallets - are stored through encryption services, Didi explained to CNBC from Phuket, Thailand. 'We have changed everything,' the 47-year-old father told the outlet. 'Even if someone held me at gunpoint, I can't give them more than what's on my wallet on my phone. And that's not a lot.' The 24-word crypto keys have been divided into four segments of six words. Each portion of these passwords are stored in a different country or digitally secured through an offline platform. Those hidden around the world are inscribed into metal cards using a hammer and stamping tool, CNBC reported. 'Even if someone finds 18 of the 24 words, they can't do anything,' Didi told the outlet. Didi has even swapped out some of the phrases to throw off attackers, meaning he must remember the ones he changed to recover his funds. The family of five still carries 'hot' wallets, which are private keys on devices connected to the internet, for everyday purchases and trading. However, these wallets require multiple signatures and authentications before a transaction is processed. 'It's a strange world at the moment,' Didi told CNBC. 'So we're taking our own precautions — and when it comes to wallets, we're now completely hardware wallet-less. We don't use any hardware wallets anymore.' About 65 percent of the family's cryptocurrency is locked up across the four continents. Didi feels this dispersed system is safer than having everything secured in one location. He said companies tasked with protecting crypto codes cannot always be trusted. 'What happens if one of those companies goes bankrupt? Will I still have access? You're putting your capital back in someone else's hands,' he explained. Didi can add currency to the wallets without the codes but would need to travel internationally to access the crypto. These stored away funds are a part of his long-term pension plan, he revealed to CNBC. When it comes to trading crypto, Didi has also taken the decentralized approach and mostly opts for exchanges through platforms such as Apex, which allow for transactions between individuals without an intermediary. Aside from the logistics of the family's crypto storage, security and trading, Didi shared that his family has been taking a step back from their online fame to preserve their safety. 'It's really my passion to create content. It's really what I love to do every day,' he confessed. 'But if it's not safe anymore for my daughters... I really need to think about them.' His concerns pertaining to his daughters stem from a harrowing incident in Paris last month. The 34-year-old daughter of a crypto chief and her child were nearly abducted by three armed men. The group tried to force her and her toddler into a white van after hitting the child's father, who tried to intervene. As he was being beaten, the father appeared to yell: 'Help! She's pregnant!' The victims' screams eventually attracted attention, which led to the attackers fleeing in their van. 'We got a little bit famous in a niche market — but that niche is becoming a really big market now,' Didi told the outlet. 'And I think we'll see more and more of these robberies. So yeah, we're definitely going to skip France.' This week, a French-Moroccan man suspected of masterminding a series of kidnappings targeting cryptocurrency entrepreneurs in France was arrested in Morocco. The Taihuttus' fears come as multiple high-profile figures in the crypto realm have been brutally attacked and killed. Badiss Mohamed Amide Bajjou, 24, was wanted by the French authorities and was the subject of an Interpol red notice for 'arrest, kidnapping, false imprisonment or arbitrary detention of a hostage.' Bajjou is suspected to be involved in the kidnapping of French crypto boss David Balland and his partner, according to French daily Le Parisien. Balland co-founded the cryptocurrency firm Ledger, which was valued at more than $1 billion at the time. His finger was cut off by his kidnappers, who demanded a hefty ransom for his freedom. Additionally, Michael Valentino Teofrasto Carturan, an Italian Bitcoin investor, was allegedly kidnapped and tortured in a New York City townhouse last month. The self-proclaimed Crypto King of Kentucky, John Woeltz, and his business partner, William Duplessie, allegedly severely beat, drugged and shocked the victim with electrical wires. In 2023, Fernando Pérez Algaba, 41, a cryptocurrency influencer and entrepreneur, was shot and dismembered in Argentina. Dismembered parts of his body were found stuffed in a suitcase by a group of children playing near a stream in Buenos Aires. The same year, a missing US 'crypto king' Christian Peev, 41, was discovered after workers were called to clear a blocked drain in an apartment in Sofia, Bulgaria. Investigators believed the alleged killer, Vesco Valchinov, had dismembered the investor's body and dumped his remains down the toilet.
Bloomberg
20-05-2025
- Business
- Bloomberg
Using Ledger Devices To Secure Crypto
Following the Coinbase hack, Ledger Chief Experience Officer Ian Rogers discusses the security of a self custody ledger device for crypto assets. He speaks with Tim Stenovec and Sonali Basak on "Bloomberg Crypto." (Source: Bloomberg)
