UK based want to buy ETH and buy altcoin with them to be kept

Bitcoin Questions and AnswersUK based want to buy ETH and buy altcoin with them to be kept
Julian asked 3 weeks ago

Hi,
I joined this group a few days ago and I’m excited about all the info provided.
I’m also new to trading crypto so, I have a few questions:
1. I’m based in uk and I want to buy ETH. With them I want to buy different altcoin to keep them on a long term. Which site should I use to start buying ETH?
2. I’ve read and listened the Wallet video and found out that if I want to keep them safe I need an cold wallet (offline), so I thought that I can to start with a flash drive. Can I do it and what else do I need to use it(apps, program…)?
Thank you,
Julian

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1 Answers
Steven Hay answered 3 weeks ago

Hi Julian,
1) OK, so if you want to buy Ethereum with Pounds, you have quite a few options. Check out our full guide to buying Ethereum here:
 

Best Ethereum Exchange Review and Comparison


 
The UK-based ones which accept Pounds include Coinbase and CEX.io. I think all the others listed there will accept Euros, if not Pounds.
 
2) A flash drive isn’t very suitable for a cold wallet. The point of a cold wallet is that it’s never connected to a device which goes online or connects to any other device. If you intend to plug that flash drive into any internet-connected device, then your Ethereum private key (which controls your ETH) may be exposed to malware.
 
A hardware wallet (which is like a specialised Flash drive which *can* be safely plugged into internet-connected devices and has some further security measures) is a better option than a USB drive. Of course, you can always backup your private key to a USB drive until you get a hardware wallet. If you choose to do that, you should strongly consider encrypting the private key, in addition to setting a password on it.
 
A good open source program for creating encrypted files / containers / drives is VeraCrypt.
 

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