Topic: Best way to store Bitcoin safely ? - page 28. (Read 2650 times)
You can use multiple E wallets. I recommend multiple wallets for the own safety of your money.. Storing all of your btc in one wallet is risky.. And also you can exchange them to your country's currency and get to your bank.. It is way more secure than keeping in an e wallet....
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
I think you are using the best security purse today. The wallet is one of the most secure and unaffected by hackers.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 have many friends using Ledger Nano S cold wallet and its security is absolute. They have been in the Crypto market for over 2 years and have never been hacked.
I think the bestway to store bitcoin is through hardware wallet. Because hackers cant get through it, its hard to hack in hardware wallet. And i think my bitcoin in hardware wallet is safe.
I the best wau to store your Bitcoin is through ledger wallet, it is recommended than other online wallets; I also do research about it and I could say that it is safer among the rest.
No hardware are safe on the internet especially when you are not taking care of it, that is proven by a lot of people now and I think even if you have a good Ledger wallet, if you will not be taking care of it, it does not matter.
Taking care of our wallets is our responsibility but taking care of it is hard especially if people know you have a lot. There are a lot of ways to secure your wallet, you just need to search them online but you still need to be careful.
you basically want a cold storage and to be safe you have to first learn advantages and disadvantages of each method and then learn how to use them in the safest way possible.
for example one of the popular methods is paper wallet, for that you don't really need a separate PC, you can always use a live Linux on a DVD with your internet disconnected and you can use a tool like bitaddress.org source code or any other bitcoin wallet that allows you to export your private keys. then print it on a paper but remember to laminate the paper so that it can last longer.
the disadvantage of this method is that spending these funds is time consuming so it is best used for long term storage that you don't want to touch often.
the other popular method is using a hardware wallet but for that you have to buy one which is going to cost you but you can be safer than using a hot wallet but at the same time you can continue using the funds you have in it as often as you like.
for example one of the popular methods is paper wallet, for that you don't really need a separate PC, you can always use a live Linux on a DVD with your internet disconnected and you can use a tool like bitaddress.org source code or any other bitcoin wallet that allows you to export your private keys. then print it on a paper but remember to laminate the paper so that it can last longer.
the disadvantage of this method is that spending these funds is time consuming so it is best used for long term storage that you don't want to touch often.
the other popular method is using a hardware wallet but for that you have to buy one which is going to cost you but you can be safer than using a hot wallet but at the same time you can continue using the funds you have in it as often as you like.
so do you think it's safer to use hardware purse method than with storage cold and paper wallet method?
indeed something safer sometimes have to pay more.
I think everything can be safe, only we as the user who must be careful. but there is no harm if it wants to feel more secure by using a hardware wallet.
I the best wau to store your Bitcoin is through ledger wallet, it is recommended than other online wallets; I also do research about it and I could say that it is safer among the rest.
The best way to store bitcoin safely is to have a hardware wallet like the trezor wallet, ledger nano s and also keepkey those are just the few examples of hardware wallet that you can use to store bitcoin safely which is a good practice also in holding because it is not that easy and fast to withdraw bitcoin like in the online wallets.
I think the best way to store coins is a hardware purse that hackers can not get to! But it is important that you yourself behave carefully on the Internet!
Bitcoin must be stored in an offline wallet and by private key
There are stopped various great approaches to store your Bitcoins however one thing that you should accentuate on is the security of your coins,this ought to dependably be given need at constantly. we as a whole have inclinations with regards to the decision of wallet we utilize. some will make due with electronic MEW on account of the fast exchange speed and effectiveness, Bu for legitimate security, I'd make due with Equipment wallets which are not as inclined to hacking as Web base wallets. They store your crypto disconnected making it inconceivable for an outsider to get to it.
Hardware wallet is the best wallet for bitcoin safety, next is wallet with private keys. Open wallet only if needed or for update, also need extra caution when dealing people.
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
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
Download a btc client wallet is not a bad option but i dont want to wasting my time for downloading the blockchain database.
i read that now the blockchain itself has 150Gb++ to download.
i prefer buying a hard wallet for storing my cryptocurrency coin.
I suggest or recommend the offline paper wallet to store or keep your bitcoin safe from hacker its not prone to be hacked except for some reasons you got your details leaked but the paper wallet is sure safe.
For me i would recommend the paper wallet or the offline wallet because of its characteristics which are its save and can not be hacked by hackers its truly safe .
There are many ways to store bitcoin safely. Hardware wallet, paper wallet and so on are some of the things to store bitcoin safely.
It is really a very helpful post for the newbie like me, thanks a lot sir.
Oh, my friend you are referring to "Cold Storage". It is the process you stated, storing bitcoin on a computer that generate public and private keys while it is offline. That process ensures that your offline environment could secure the keys. But your bitcoin is still floating and can't go thru your offline computer until you have connect it on the internet. I hope you get my point, I am telling you that, you still need to connect it to the internet one way or another in the future to fully transact with your bitcoins. It could be not vulnerable today but It could be in future.
Bitcoin is as precious as our bank accounts. Actually, more precious than that when what's inside this is lower than the value of bitcoin. Therefore, we have to really take heed of our bitcoin and keep it safely.
We may keep is in a software wallet or in a hardware wallet. Just make sure that you use your personal device when you open it to make it more safe from hackers. As for the scammers, do not leave any clue to your account like in terms of password and such.
We may keep is in a software wallet or in a hardware wallet. Just make sure that you use your personal device when you open it to make it more safe from hackers. As for the scammers, do not leave any clue to your account like in terms of password and such.
The best way to store bitcoin where you can download the best wallet. I prefer to use coins. pH so that you can store bitcoin safely and secured. Always keep in the safe place the private key so that know one can hack your wallets.
The best way to store your bitcoin is to put it on best wallet where you can assure that your bitcoin is totally safe and secure. In addition to that, if you want to make it more secure try to put a 2fa. Lastly, I suggest do not ever share your password and private key to anyone.
I want to show you a way to store bitcoin safely. These wallets are bits of hardware, external devices like USB sticks which you can carry around on your person. An added benefit of a hardware wallet is the complete anonymity with which you can transact. There is no personal information linked to the hardware, so no identifying data which could be leaked. Hardware wallets are resilient to malware, and if you happen to lose the wallet you'll be able to recover the funds using a seed phrase.
Jump to: