What is the best usb to get for Litecoin backup storage?


#1

Hi guys, anyone have suggestions on what usb they recommend for Litecoin wallet backup?
Any other suggestions on best practice for backup?


#2

For backing up your wallet, there is no “good USB”.

You should buy several USB’s from several different manufacturers, and store them in different locations.

Alternatively, encrypt your wallet and store it on a cloud provider such as Google Drive or Dropbox. Assuming your wallet password is sufficiently strong, it’s unlikely that storing it on a cloud provider is such a big risk.

Never keep your eggs in one basket. I store my coins across several exchanges, as well as Electrum, LiteVault, and my Litecoin Anniversary Ledger.


#3

I wouldnt bother with a USB, i would instead get 2 or 3 ledger nano S hardware wallets, which support Litecoin using the ledger chrome Bitcoin Wallet application. First you set it up and it generates a master seed. This seed can be used to restore your wallet if it is lost and you write it down on paper. You can import this seed into the other ledger nano wallets so have the same seed on multiples.

The transaction signing happens within the device and thus you can use it on a compromised computer without risk as well and you must click the button on the device to confirm any transaction and it displays the wallet address you are sending to.

You can have your BTC, LTC, ETH, DASH, DOGE and other wallets on here with the same master seed, you select the one you want to use through the buttons on it.

If you want to get one if i have been of help please use my affiliate link, no extra cost to you but i get 10% of the sale : - )

These are much more secure than just storing a wallet.dat on a memory stick as you still must load the private keys into RAM when you sign a transaction, with this you need not trust the PC you plug it into and the screen acts as a second factor authenticator. Plus you have the paper seed if all goes south.


#4

Hello
Thanks for your reply.
I found it extremely helpfull as i want to spend and save coin on a longterm basis. (And maybe one day marketeer it). Do you think that buying multiple Ledger Nano 2 devices IS sufficient and what would be your plan if you wanted to save them for the longrun. Let’s say 10 years. I assume by buying multiple you mean so if one is damaged or lost you still have the other too make sure you have not lost anything. Is it possible to save the backup files of different kind of COIN (for example Litecoin and Ethereum ) on one encrypted USB? I assume yes as the backup files are small? And you need a host for sofware install or a online host for using the backup file online at least if you have a paper backup?


#5

Here is another place to buy the Nano S:

https://store.bitcoin.com/collections/hardware-wallets/products/ledger-nano-s


#6

Thank you