Topic: Best way to store Bitcoin safely ? (Read 2650 times)
There are many ways to store bitcoin safely. Just like In Ledger Nano S, this is the one i bet, it is a hardware wallet that has a safety features. If we consider about storing, you can store cryptographic assets. And also in security, you can secure digital payments and It connects to any computer. The other one is the coins.ph wallet, it is the other wallet which is easy and safe to use.
Well better way to store your Bitcoin is to a safe wallet. I am a proud Bitcoin user and currently I am using coins.ph wallet since my country supports crypto currencies, our own country have this kind of wallet that is very easy to use, also safe, and convenient as we ca easily convert our Bitcoin into some other currencies like Bitcoin into Ethereum and vice versa or into our country currency.
I think any wallet has its advantages and disadvantages. So if you store Bitcoin on a cold wallet will give you access to it at any time without the need of the Internet. However, it is easy to be stolen or lost. If you store them on the internet, you can access it anytime, anywhere if there is internet.
Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure
1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place
Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?
Sorry if my question has been covered many times, but I just don't want to make a big mistake.
Thanks
Rick
You should do research it depends in what is your country. It's good you have a right guide, I do i have an password in my laptop and cellphone to protect my account to other people. Here in the philippines we use coins.ph legit bitcoin wallet. I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure
1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place
Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?
Sorry if my question has been covered many times, but I just don't want to make a big mistake.
Thanks
Rick
I think you are right
Well, since I am a Bitcoin user, where I am really proud of, I am using an online wallet that my country where I belong support crypto currency and especially made a certain wallet. For me, I am storing all my Bitcoin inside of this online wallet which for me is very safe, convenient and easy to use.
Just use Nano ledger.. And Other hardware wallets. Never use exchange wallets as you safe store of your own fund. Because in exchanges you don't control the coins ownership as you doesn't have the private key.
Nice guide . You could also use the hardware wallets . They are safer for they are stored in a stick and you can carry them anyware . Tho its kinda risky since you could easily lose that thingy and lose everything you have . There has been a story here about someone who lost his private key or something and let a hacker do the trick for him . He's lucky in his case , in wont be the case on most of the people tho . So yea , there is always a downside on every other wallet . Beware .
For the best security, you require cold storage. Cold storage in the blockchain realm simply means a device that is disconnected from the Internet. This is the toughest security measure possible to safeguard any crypto-investment from the prying interests of hackers.
The best way would be:
1. Boot your computer up with Ubuntu Live CD
2. Create a wallet, encrypt it using a strong password (What is your way to create good passwords that can actually be remembered?). Make sure you do not forget the password.
3. Back up the wallet multiple times (e.g. email+Dropbox).
4. Practice its decryption using Spaced repetition
5. Finally, transfer the bitcoins to the wallet.
1. Boot your computer up with Ubuntu Live CD
2. Create a wallet, encrypt it using a strong password (What is your way to create good passwords that can actually be remembered?). Make sure you do not forget the password.
3. Back up the wallet multiple times (e.g. email+Dropbox).
4. Practice its decryption using Spaced repetition
5. Finally, transfer the bitcoins to the wallet.
Even after all precautions your BTC can be hacked. One big demerit to crypto investment in my opinion.
I dont think there is any other safer way than to store your crypto on a ledger wallet or Trezor. Both the physical wallets provide highest level of security for your crypto assets.
Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure
1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place
Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?
Sorry if my question has been covered many times, but I just don't want to make a big mistake.
Thanks
Rick
you should store your bitcoin in a safe and secured wallet for you to keep calm not packing what might happen to your bitcoin choose a right wallet that suits for you btc I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure
1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place
Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?
Sorry if my question has been covered many times, but I just don't want to make a big mistake.
Thanks
Rick
Best way to keep your bitcoin safe is to store it in the hardware wallet. After that, desktop wallets and offline wallets are good.
The best way to keep you bitcoin safe is for you to download a wallet transfer all the fund there and make sure the private key is been keep safe, and be sure only you have access to your private key and always password the gadget you use.
The best way to store bitcoins is, you must have a wallet to store your bitcoin. Create your own wallet and keep it securely or attach a private key to secure your bitcoin, to be safe and no theft and removal due to bitcoin is virtual money and every money definitely has tools to store it safely, like paper money. Definitely have a wallet to keep it safe and not lost
it seems like using blockchain is the right choice.
and most importantly there is a way to keep the key to be safe, do not let other people know. to avoid the crime of hackers
and most importantly there is a way to keep the key to be safe, do not let other people know. to avoid the crime of hackers
I've researched a lot on this topic and this depends on the security of the exchange and wallet you're using online, I personally prefer Bittrex over all of the others since it has a history of being the least vulnerable to all of the cyber attacks but as bitcoin increases the number of users on the network security will be less of an issue.
I used coinomi application to save my Bitcoin and its save because i kept my pass phrases offline so it wont be accessed by hackers.
Use PC wallet like Electrum is a good choice.
If you want your coins stay safer, buy a flash drive, save private key in it and hide away. No one will know.
If you want your coins stay safer, buy a flash drive, save private key in it and hide away. No one will know.
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