Topic: Best or safest way to store coins? (Read 1223 times)

Actually, it is easy believe it or not.  You can use various techniques, but my favorite is the memory palace.  Take the list of words, lets just pick a few: The Lazy Brown Fox.  Now choose a location that you are intimately familiar with, such as your childhood home.  Start at any location, say the front door.  Imagine something for "the".  I am picturing cookie monster eating a big T in front of the door.  Get the sounds and smells to if you can.  Hear the crunch, see the crumbs flying around, etc.  Now step inside the door.  I see Gilligan loafing about naked.  Don't ask me why, because I don't want to know, but that sticks for me.  Again include sounds smells etc.  In the next room imagine something for brown.  Maybe poop.  But make it memorable, such as a bucket of poo being spilled over someone you care about.  Again the smells sounds etc.  Now in the next area of the house I imagine star fox flying around and shooting things. 

You have to choose images that will work for YOU.  Some say that the nastier, funnier, stranger, more explicit, etc, the easier to remember.  I am not so sure, I think it just has to be something that will stick for YOU.  Try it and you will be surprised how much you can remember.  If you do it right then remembering a private key will seem easy.

On another note I agree that the Trezor and Leger are good options.  The Ledger has a low cost option if you can not afford the higher priced model or the trezor.

It depends on what you want to do with your bitcoins, store them or use them

I recommend trezor,it is a little bit expensive,but It's worth it

I prefer a pen and paper. Create a key using dice and save the base6 key. Then I use my offline PC to make a digital back up and put it on a USB thumb drive and store an extra copy in a safe deposit box.

I would consider hardware wallets having the slight advantage and better compared to paper wallet. The built-in program by itself already has some security features and you do not need to rely on external program to create paper wallet for you. That is if you don't mind spending some amount of money to get it.

Bitcoin can appreciate in value, really quickly.
No point in being lazy about security.

Does anyone else know about it. and what are those encrypted passwords. What if something happen to you. Will be coins lost or not. I see many make their wallets realy safe, but dont think of what happen if they are gone.

It really depends on how many coins you're storing. No point in doing a lot for something worth little value.
I'd say best it to generate keys offline and print/write out the paper wallet.
Put it in a fireproof box and lock away somewhere or put in a safety deposit box somewhere.
Coins are good but you have to be careful as the keys have been generated by others.

Haha well i dont have a lot myself either to worry too much about it but with the recent collapses of famous exchanges, this forum getting hacked and a lot of cases of people getting hacked aswell i started worrying, ive always stored my coins into different ways, a little on the exchanges and a little on my wallet.

Maybe this is the safest way..
Obviously if you have many Bitcoin, just keep a low profile because if others know how much money you have, you could lose the hand or worse! your Bitcoin.

so a trezor is the best option

You can also use a mobile phone exclusively for bitcoin wallet,having a backup in a paper,but I think trezor is the best option

I dont have much of a bitcoin to worry about, but one of buddy owns a lot and from what he's done, I think it is safe to put your coins into paper wallet. But don't need to go overboard like him by tattoing the butt with the keys.

I don't think remembering your whole Private key is that possible even if it is .. you should be able to memorize it for long long time .
If you can't do then , then simply make a paper wallet , send your Bitcoins to that adress and hide that paper . and .. welll it's that simple

I think that normal Bitcoin Core wallet is sufficient to store your bitcoin as long as you are conscious person with a brain and know what you are doing.
With proper antivirus and firewall you should be fine as long as you are not owner of crazy amount of bitcoins... Then you probably need a more secure wallet.

I once lost a phone that had a bitcoin wallet on it with no backup... lost the phone lost the bitcoin... anything like that can happen backups are best

so,you should use a trezor
https://www.bitcointrezor.com/

or a ledger

https://www.ledgerwallet.com/

 
That's awesome man!
I personally have just printed 2 copies of each paper wallet, each paper wallet has 5 BTC in it.
One copy of each paper wallet is in a safe in my house.
The other copies are under the spare tyre in my car.
I also have some coins on Bitcoin QT & some on a hot wallet.
I feel I'm very unlikely to have an awful car crash that sets my car on fire & a house fire at the same time.
All paper wallets are encrypted with passwords I won't forget.

Well i would like to store them safely but also be able to access them somewhat easily, something that doesnt involve installing a brand new os, i dont have that many bitcoins so i dont need something too complex

Best thing to do is split the risk and store your coins in many different ways.... especially if you are unsure what is safest.

brain wallet is the best, if you can remember your entire private key, no one could steal your precious bitcoin anymore

you just need some practice to memorize it

If you have a high amoutn of bitcoins you should buy a trezor, it is not difficult to use at it is highly secure