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Future of cold wallets

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by COINS NEWS 141 Views

Longtime lingerer, first time poster in Cryptocurrency (Reddit recap says it’s my most read sub though). I’ve recently moved most of my funds from the two exchanges that I had been using during the 2020-21 bull market onto my Ledger . Having gotten into crypto only in 2020, this is my first bear and I have questions.

There are lots of posts about Ledger and similar cold wallets, I’ve probably read about 100 of them, not because I wanted to but because I was incredibly underconfident about how to use it without messing something up.

One of the main problems with it is the communication about how its limited storage capacity to install apps is not related to how many coins you can take off exchanges and into cold storage. It’s not common sense and there are many abstract concepts to get your head around if your brain is not wired like a mathematician or engineer. The simplest explanation I found was a YouTube video by a user called Dorothy Tutorials with 42K views who makes it make sense for a dumb dumb like me.

I have bought into the crypto dream, but my concerns about it are related to its wider adoption due to the limits of people rather than the technology. This post isn’t intended as FUD, i’m simply curious about what you all think the future of storing crypto with a cold wallet solution might be, as many others examples show it is not always the easiest device to use!

Please keep your responses respectful (been on Reddit four years and don’t want to be turned off it - it’s been a great source of information in many ways) and thanks in advance.

submitted by /u/nickmid23
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