Saturday, 19 September 2020

Is backup cold storage wallet recommended?

Sorry in advance for the dumb question but I've searched all over and have found conflicting answers....

I want to start investing in Bitcoin and the general consensus is that cold storage wallets are the safest way to store your coin rather than on a trading platform like Coinbase for example. I've also seen that people recommend buying 2 cold storage wallets, Ledger X and Ledger S seem to be popular and for the most part trustworthy. Am I correct in that assumption that you should buy one main one and one backup? So buy a Ledger X as my main and Ledger S as the backup? Some comments I read people said you only need one... What's the safest way to go? Is buying 2 overkill? Any insight would help.

submitted by /u/Scientific_85
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