Open ledger is basically a decentralized wallet with no centralized weak point that can be attacked.
It is only a wallet that can be displayed in your browser so understand right up front you’re going to have to back up this bad boy with a jump drive or somewhere on your hard drive or multiple locations (my suggestion).
Personally I use a few paper wallets. No need to set anything up except generate bitcoin addresses.
Then when I want to move the coins from the wallet, I import the private key into omni wallet and move the coins. To me that seems safer than trusting a wallet to hold the coins, no matter how “secure” they claim to be.
I recently went to paper wallets, I feel much more secure. I used to have some on blockchain.info and they had updated their wallet so when I finally got to importing the keys to omni the process was very convoluted and at first I thought I somehow had been sending all my maid to an address I had no priv key for! My heart sank, luckily I was able to decrypt the old style encryption format on bitaddress.org.
I can’t wait for a simple to use wallet implementation on safe that is idiot proof. Bitcoin at times especially on the legacy Internet can be very stressful
It would also help that when you backup your wallet on your harddrive, that you upload your backup online and overwrite the existing backup on your harddrive. This way, when somebody gets access to your computer they can’t use your backup to access your Maidsafecoins.
Never leave a backup on your computer’s harddrive.
Paper wallets don’t need paper. You can just as easily store the keys in an encrypted file.
The term paper wallet was simply someone coining the phrase because you could be as low tech about it as you want, simply write the keys on paper. But reality is that few will and probably no less than would write the keys down from any other wallet for “safe keeping”
That, and “I don’t have to do that, thanks to SAFEnet”, were my thoughts in relation to the “first sentence” thread, in the situation where someone describes or complains about something they have to do or some shit they have to put up with:
Data backup to inconvenient and unreliable services and media.
Anything related to IP.
Forced religion (e.g., political correctness, and mandated historical fables)
“Know your customer.”
“Money laundering” regulations.
I think paper wallet means exactly that. Record the address on paper because it has certain useful security properties.
Anything stored on computer, USB etc has other properties so I think its an important distinction to make - certainly for me. I can be overly literal but I don’t accept that few people actually use paper for these reasons.
Some people, I mention no names (but not me) even have a tiny standalone printer that only prints bitcoin addresses (alongside QR codes) and is never connected to a computer or network.
EDIT: I must buy some thermal paper for the ex-EPOS printer I “won” at a decommissing job a while back.
EDIT2: Duh, I just realised what a totally dumb idea that would be…
EDIT3: Anybody want to buy a small thermal printer? - (paper not included) - Offers >50MAID
Yeah, do NOT use OpenLedger! They confiscated my 20,000 MAID. I doubt that you can even transfer it to them even if you wanted to. They disabled all MAID transactions a year or so ago, and if you didn’t see their short-lived blog post to withdraw it, they kept it.