Re:Tokyo-based cryptocurrency exchange hacked, losing $530M:...
by AlexCoventry on Friday January 26, 2018 @02:39PM
(#16242214)
A hardware wallet is probably a good way for most people to do that, though.
Most people getting into cryptocurrency at this point aren't going to be able to spin up a secure debian box, download and run zcashd, run it until it syncs with the network, construct a transparent address, round-trip a test portion of their exchange funds through the address, park their on-exchange zcash there, and put the wallet.dat file somewhere secure from hacking or destruction. But my understanding is that Ledger can handle transparent zcash transactions, which potentially massively simplifies matters.
Most people getting into cryptocurrency at this point aren't going to be able to spin up a secure debian box, download and run zcashd, run it until it syncs with the network, construct a transparent address, round-trip a test portion of their exchange funds through the address, park their on-exchange zcash there, and put the wallet.dat file somewhere secure from hacking or destruction. But my understanding is that Ledger can handle transparent zcash transactions, which potentially massively simplifies matters.