Best way to store Bitcoin safely ? - page 23.

royal slave01

newbie

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Quote from: marcosfx on June 12, 2018, 07:41:22 AM

There are not safest way to do it, but you are on the right way. your list it good about 95% the risk is about 5% anyway i think

I think there's a safe place where you can store bitcoin but it is expensive too because hardware wallet is maintained by some IT experts make our bitcoin safe and untouchable by some unauthorize person that may try to stole or hack.

Kahoy01

full member

Activity: 481

Merit: 100

Quote from: litecoinricky on May 02, 2018, 06:50:03 PM

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 Sad

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 Huh

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

There are numerous ways people can store cryptocurrencies which in this case is bitcoin. For example, there are readily availabke digital wallets everyone can avail at a price where they can store their priced cryptocurrencies in convenience. Anotger way is by hardware wallets which offers the highest amount if security and tge highest amount of risks. Because when the hard disk of your computer is gone, so is your bitcoins.

marcosfx

full member

Activity: 303

Merit: 100

The Future Of Work

There are not safest way to do it, but you are on the right way. your list it good about 95% the risk is about 5% anyway i think

sjuzze

newbie

Activity: 168

Merit: 0

To store the bitcoin safely, you should set up the wallet to store. As far as I know, there are five types of secure bitcoins available today: Ledger Nano S wallet, Exodus Wallet, My Ether Wallet, Wallet TREZOR, Wallet Ethereum on Coinbase

Sam San

sr. member

Activity: 630

Merit: 250

There are many different ways to store Finance and bitcoins, but their safety and security is your main task and responsibility.Now the majority chooses hardware wallets, and here the choice is yours..

@oweljayr

newbie

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Well for me, the best way to keep your bitcoin safe is to have safe wallet as well. Safe wallet means, when opening your wallet, you must be vigilant in using any gadgets of rental computers because as we know, hackers are very much knowledgeable in leaving apps in various units, then any one who would use the computers with out any precautions could be a victim. So we must be careful in using computers from public internet shops.

bristlefront

member

Activity: 225

Merit: 10

Hardware wallet and a pc without virus and another extra laptop that is not connected to internet since it is bought. Try also to diverse your bitcoins from different hardware you have. Criminal are being smarter and smarter and you might be the next victim and always be aware on what you've browse online.

Anonylz

hero member

Activity: 2562

Merit: 577

It does not have much science, just buy a hardware wallet and store almost all your crypto in here, that is the only way in that you are never going to get scammed, trust me.

Coinnosaurus

sr. member

Activity: 643

Merit: 264

For storing larger amounts of coins, Cold Storage (i.e. Paper or Hardware wallets) are recommended. Small values can be more comfortably stored on Hot Wallets

Arenaworld88

newbie

Activity: 3

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Since I'm just new with bitcoin this thread will be very helpful to me. I will read all the suggestions from the tenure of this industry. I am hoping that my start will be as good and positive.

SmileyLadd

newbie

Activity: 26

Merit: 0

Quote from: litecoinricky on May 02, 2018, 06:50:03 PM

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 Sad

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 Huh

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

The best store or wallet that I would recommend you is MyEtherWallet. The best, highly-secured storage, cannot be phished.

ListenMiss

newbie

Activity: 79

Merit: 0

In my opinion, the safest way to save is to use a wallet address, and not to tell the key to anyone.

pjr77

full member

Activity: 299

Merit: 100

Considering how many different types of wallets exist at all, it should be noted that paper wallets are ideal for those who do not trust electronic ones, and for long-term investment this is also a good option, for larger sums it is better to choose desktop (on hard disk). for bitcoin just the desktop version will be more suitable: it's Bitcoin Core.

xAnima

newbie

Activity: 69

Merit: 0

Quote from: litecoinricky on May 02, 2018, 06:50:03 PM

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 Sad

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 Huh

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

This is a good list of having your Bitcoin or other Cryptocurrency safely in a Personal Computer. There are many wallets available on browsers but its up to you if you will trust them with your money. You can also buy a ledger where you can store your Crypto externally from the computer and also the internet. You also need to keep in mind hiding your private keys safely.

Geoffrey Walker

newbie

Activity: 101

Merit: 0

The easier way to store your bitcoin and other cryptocurrency is in a digital wallet online, or locally on your smartphone or computer. But leaving your bitcoin in public view can open you up to attacks from hackers and phishing scams. That’s why the best option is a hardware wallet that stores your bitcoin offline.

cyberkuto

newbie

Activity: 168

Merit: 0

Quote from: litecoinricky on May 02, 2018, 06:50:03 PM

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 Sad

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 Huh

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 have to create your own wallet the make sure to download Antivirus and avoid going to unsecured sites. Hacker now a days can find ways of steeling information, so be careful. You can also do a balance transfer.

Sigfred Hernadez

newbie

Activity: 100

Merit: 0

The key thing to understand is that no matter what you do, you won’t actually be storing the bitcoin itself. That’s because a bitcoin isn’t an object, it’s an encrypted address on the blockchain. What you own is a unique key that unlocks a specific bitcoin location, and that’s what you need to be protecting at all times by storing it in a wallet.

player1001101001

jr. member

Activity: 336

Merit: 2

Hardware wallet and online wallet both are safe to storing bitcoin. I used it since from last year and I never faced hacking problems. Instead of that, it has kept my bitcoin safe.

sssyjmr13

newbie

Activity: 10

Merit: 0

Quote from: litecoinricky on May 02, 2018, 06:50:03 PM

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 Sad

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 Huh

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

hardware wallet would be a good idea. it is more secure than online or desktop wallet. hardware wallets like usb sticks which u can carry around in person. also, there is no personal information linked in it so no need to worry about identifying data getting leaked. and in case u lose your wallet, you will be able to to recover the funds using seed phrase.

vypzilla

newbie

Activity: 22

Merit: 0

hardware wallet, trezor or nano ledger. VERY RELIABLE, i wouldn't trust many methods. Paper wallet is not a bad shout, sometimes i feel keeping your information offline is the safest form. If your talking just a few dollars, yeah sure leave it on the exchange.

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