Best way to protect coins | Bitcointalksearch.org

CounterStrike

sr. member

Activity: 294

Merit: 250

Quote from: gondel on June 04, 2014, 11:00:15 AM

Hello,
What is the best way to protect your coins? Is there any way to backup your wallet if your computer crashes? Somewhere safe...What are the best practics for protection?..

USB drive, email, dropbox, whatever. Just make sure you put a long password in your wallet incase someone got it...

Bitornio

member

Activity: 67

Merit: 10

Quote from: gondel on June 04, 2014, 11:00:15 AM

Hello,
What is the best way to protect your coins? Is there any way to backup your wallet if your computer crashes? Somewhere safe...What are the best practics for protection?..

Research cold storage and multi-sig

gondel

legendary

Activity: 1960

Merit: 1005

Hey,
You are very good at explaining stuff. Can you help me with some tutorials i want to make for one site? I will shortly PM you with details.
BR

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: gondel on June 04, 2014, 11:00:15 AM

Hello,
What is the best way to protect your coins?

Somewhere safe? Wink

Quote from: gondel on June 04, 2014, 11:00:15 AM

Is there any way to backup your wallet if your computer crashes?

This depends on the wallet. If your wallet does not allow you to make backup you can allways use another one and send all the coins there.

Quote from: gondel on June 04, 2014, 11:00:15 AM

Somewhere safe...What are the best practics for protection?..

Offline, physical secure and multiple copies. IMHO the best way currently is to have one (or more) paper wallet(s) that allow n of m. So you have 3 parts of a paper wallet and any 2 pieces can generate you the private key you need to spend the coins. This allows you to store those wallets in several places and any one of your secure stashes can be compromised without you loosing your coins.

https://www.bitaddress.org allows this. Its called split wallet. But do not generate the keys online unless you just want to test it with a little amount.

Get their code https://github.com/pointbiz/bitaddress.org or any other code that suits your needs and generate the keys on an offline machine. To ensure that the keys are not compromised later you can use a live linux to boot from.

More on bitaddress can be found here: https://bitcointalksearch.org/topic/ann-bitaddressorg-safe-javascript-bitcoin-addressprivate-key-43496

gondel

legendary

Activity: 1960

Merit: 1005

Hello,
What is the best way to protect your coins? Is there any way to backup your wallet if your computer crashes? Somewhere safe...What are the best practics for protection?..

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