Topic: Best long term cold storage? (Read 2205 times)
You should checkout cryptosteel.com, they just redid their website and the product looks pretty nice. They have a few different versions of it. One can hold a 24 word seed and another one has extra letters/symbols to store private keys. I've been thinking about getting one eventually, but I can't afford the $50 right now.
Hello guys,
I'm looking for an optimale way to store some BTCs for long term.
Being digital nomad, I dont have a proper place to store a paper wallet. I'm quite afraid to lose passwords too, and I want to prevent robbery or a hardware failure (lose of my computer, smartphone, usb key, ...)
I was thinking of a multisig wallet to avoid robbery or to lose access to them in case I'm forgetting a password.
What's my best option?
Thanks
I think cold storage not fully safe for store some bitcoins for long term,but it realiable and accesible everywhere,and if you use hardware wallet,its better security,but not accesible everywhere,so i suggest to use hardware wallet for long term. I'm looking for an optimale way to store some BTCs for long term.
Being digital nomad, I dont have a proper place to store a paper wallet. I'm quite afraid to lose passwords too, and I want to prevent robbery or a hardware failure (lose of my computer, smartphone, usb key, ...)
I was thinking of a multisig wallet to avoid robbery or to lose access to them in case I'm forgetting a password.
What's my best option?
Thanks
What I have done is printed out a couple of the same wallet and have them in secure "hiding spots" in the house... I mean you could open up a deposit box at a bank, but you would have to put trust in the bank...
Hiding few copies of the same wallet is good strategy, but you better place them in different houses. There is likelihood of fire in a house and destroying data on your computer and any hidden printed wallet backup inside the same house, thats why hidding the backups at 2 diferent physical locations is really adwisable.
If I would ever place anything inside box at a bank, I would encrypt it with strong password first, I believe these boxes are not completly private and there is small possibility of a theft if the bank is robbed.
What I have done is printed out a couple of the same wallet and have them in secure "hiding spots" in the house... I mean you could open up a deposit box at a bank, but you would have to put trust in the bank...
In the end you will have to trust that someone will never find it or that you won't lose it... whether that's trusting your self, your hiding place, or another person/device.
In the end you will have to trust that someone will never find it or that you won't lose it... whether that's trusting your self, your hiding place, or another person/device.
Paper wallets but make sure you make a couple of copies of each & laminate them to protect them.
i doubt that paper wallets are the best decision, in my opinion it would be better to have some kind of a hardware wallet or something like that, that would be most probably the best ideai used to use paper wallets for a while but i dont do that any more right now, i think it is much safer to have a hardware wallet and it is easier to use it in my opinion
Steel wallets are the best IMO. It's like a paper wallet. Create it offline then store it in steel. It's fireproof, it won't fade and best of all if your house does burn down just grab your metal detector and voila, you have your millions in bitcoins to self insure.
Thats actually a really cool idea, how and where do you get these steel wallets. I assume its a sheet of steel with your keys engraved on it?
you could create a HD account and just memorize the 12 words, but theres always the chance of you forgetting. i recommend getting one of those durable usbs on amazon and store your keys on there, pretty much guranteed to last a lifetime.
Steel wallets are the best IMO. It's like a paper wallet. Create it offline then store it in steel. It's fireproof, it won't fade and best of all if your house does burn down just grab your metal detector and voila, you have your millions in bitcoins to self insure.
I don't really know which among is the "best" among the best, but I can say that one of the safest ones is paper wallet as long as it is kept under your radar 24/7. I mean, you don't necessarily have to be checking on it but just the fact that you know where it is placed at all times is sufficient enough to be considered a good wallet.
Just get a safety deposit box and store your paper wallets there, if you travel around a lot and you do not want someone to get to it. You place the majority of your coins in this cold storage and the rest,
you could keep on a online wallet, for the mobility... but chose wisely because not all online options have 2FA and very good security option, so you should not store a lot on them. Leave the key to the
safety deposit box, with your relatives or a trust worthy friend. Only you will have access to it in any way...
you could keep on a online wallet, for the mobility... but chose wisely because not all online options have 2FA and very good security option, so you should not store a lot on them. Leave the key to the
safety deposit box, with your relatives or a trust worthy friend. Only you will have access to it in any way...
Paper wallets but make sure you make a couple of copies of each & laminate them to protect them.
Paper wallets for the win. Although the concept, not an actual wallet printed on paper. I'd use those plastic bracelet charms with the letters on them, and make two bracelets; one for the pub and priv keys. The bracelets won't degrade, and if anyone finds it, they will dismiss it as something unimportant/inexpensive.
I have also chosen to store them in Paper wallets. Most of the people don't even know the piece of paper is a coin wallet. I have backups, so even if my house gets robbed or something, I will just boot up my system before the robbers realize, and get the coins out. Hardware is not the best way to go imo.
I think the online wallet will be the best place. but if you want to keep safe bitcoin then you could do a backup wallet you have.
online wallet is definitely not safe for long term cold storage because anything which connected to internet could have potential to be hacked,the best thing is just don't connect to internet after the funds been sent to the cold storage and make sure only you holding private key and not saved everywhere 
The best long-term storage could be a private key that's engraved in aluminum or some other non-rapidly-oxidizing metal or engraved into glass. Iron is a bad idea. Gold is possible, but expensive.
Sorry if someone else mentioned this already but SSDs and memory sticks are not safe to store bitcoins long term.
You have to power up the SSDs and memory sticks every few months or your data will get corrupted.
Memory sticks and SSDs store data by storing electricity inside millions of little gates, over time they slowly leak power corrupting the data they hold.
So use a Hard disk drive and paper wallets. You can also encrypted your wallet and then hide it inside a image or other file to mask it for safe storage online for free.
You have to power up the SSDs and memory sticks every few months or your data will get corrupted.
Memory sticks and SSDs store data by storing electricity inside millions of little gates, over time they slowly leak power corrupting the data they hold.
So use a Hard disk drive and paper wallets. You can also encrypted your wallet and then hide it inside a image or other file to mask it for safe storage online for free.
That's why i have bought a trezor. A giid brand usb cost around 40/50 usd.Remember you need 64 GB for the blockchain. IF you spent 79 you've go ta device that has bene proven to be the best paid solution for cold storage.
Sorry if someone else mentioned this already but SSDs and memory sticks are not safe to store bitcoins long term.
You have to power up the SSDs and memory sticks every few months or your data will get corrupted.
Memory sticks and SSDs store data by storing electricity inside millions of little gates, over time they slowly leak power corrupting the data they hold.
So use a Hard disk drive and paper wallets. You can also encrypted your wallet and then hide it inside a image or other file to mask it for safe storage online for free.
You have to power up the SSDs and memory sticks every few months or your data will get corrupted.
Memory sticks and SSDs store data by storing electricity inside millions of little gates, over time they slowly leak power corrupting the data they hold.
So use a Hard disk drive and paper wallets. You can also encrypted your wallet and then hide it inside a image or other file to mask it for safe storage online for free.
My approach has been to create paper wallets offline on bitaddress.org and keep 90% of my BTC stash in these wallets. I have considered brain wallets before but I am concerned about the risk of them being brute forced by hackers
I have 2 paper wallets but I just keep them at home in
a book as they arnt over 1 btc otherwise I would keep them
in a safe or a safety deposit box.
a book as they arnt over 1 btc otherwise I would keep them
in a safe or a safety deposit box.
Paper wallet is a good option as long as you dont lose the paper itself. Also you may try to Save in a Usb but again you need to be sure that the Usb dont become malfunction as some point of time.
I think the online wallet will be the best place. but if you want to keep safe bitcoin then you could do a backup wallet you have.
Jump to: