Comment by tencentshill
17 days ago
Turns out all that silly security and paperwork banks go through has a purpose! But at least every crypto customer knows the risks right?
17 days ago
Turns out all that silly security and paperwork banks go through has a purpose! But at least every crypto customer knows the risks right?
Crypto with one hardware wallet might be less safe than a bank but a multisig smart wallet on Ethereum is unbreakable.
There is no single device that can sign transactions so an attacker would have to compromise your hardware key, phone and desktop at the same time. Then slowly drain it $1000 (or whatever your daily limit is) at a time hoping you don't notice and freeze the account. When it's frozen you can only unlock it with a recovery key that doesn't exist on any electronic device.
If you set it up right the only attack that's left is good old extortion.