How and where do I store my bitcoins? - page 4.

BingoDog

hero member

Activity: 658

Merit: 505

Quote from: X-ray on November 30, 2016, 05:35:44 AM

Quote from: traderethereum on November 29, 2016, 09:08:05 AM

Quote from: deadsilent on November 29, 2016, 02:09:19 AM

Me, i have two wallets and one local wallet. I dont want to store my btc on one bitcoin wallet. So when the wallet encounter trouble, im able to switch with the other. Also i dont guarantee my btc is safe thats why im using these wallets. My local wallet is very useful, so i suggest you must use one. My local wallet very versatile. You can pay bills, prepaid load and convert btc into cash. Im not gonna use my btc without this.

good idea to use local wallet since we should split our bitcoin to avoid bad things that could happen. is that local wallet like bitcoin core or multibit? i use multibit because its really light to syncronize with the network and its different with bitcoin core which is need too long before its completed syncronize.

i guess he's reffering to local exchanger wallet not a desktop wallet so it's basically an online wallet were provided by his local exchanger as he's stated he could pay bills, prepaid load and convert bitcoin into cash. though it's not really secure, the exchanger could have the right to close the account or turning out to be scam if they have intention to do this

Yeah, it's not very wise to keep the coins on the exchanger. They are not ment to be the real wallets and your coins are there at risk. Exchangers are exposed to hackers attacks or your account there could be locked for different reasons. It's good to keep coins on exchangers ony for trading purpose.

X-ray

hero member

Activity: 3066

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: traderethereum on November 29, 2016, 09:08:05 AM

Quote from: deadsilent on November 29, 2016, 02:09:19 AM

Me, i have two wallets and one local wallet. I dont want to store my btc on one bitcoin wallet. So when the wallet encounter trouble, im able to switch with the other. Also i dont guarantee my btc is safe thats why im using these wallets. My local wallet is very useful, so i suggest you must use one. My local wallet very versatile. You can pay bills, prepaid load and convert btc into cash. Im not gonna use my btc without this.

good idea to use local wallet since we should split our bitcoin to avoid bad things that could happen. is that local wallet like bitcoin core or multibit? i use multibit because its really light to syncronize with the network and its different with bitcoin core which is need too long before its completed syncronize.

i guess he's reffering to local exchanger wallet not a desktop wallet so it's basically an online wallet were provided by his local exchanger as he's stated he could pay bills, prepaid load and convert bitcoin into cash. though it's not really secure, the exchanger could have the right to close the account or turning out to be scam if they have intention to do this

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: deadsilent on November 29, 2016, 02:09:19 AM

Me, i have two wallets and one local wallet. I dont want to store my btc on one bitcoin wallet. So when the wallet encounter trouble, im able to switch with the other. Also i dont guarantee my btc is safe thats why im using these wallets. My local wallet is very useful, so i suggest you must use one. My local wallet very versatile. You can pay bills, prepaid load and convert btc into cash. Im not gonna use my btc without this.

good idea to use local wallet since we should split our bitcoin to avoid bad things that could happen. is that local wallet like bitcoin core or multibit? i use multibit because its really light to syncronize with the network and its different with bitcoin core which is need too long before its completed syncronize.

deadsilent

hero member

Activity: 1148

Merit: 500

Me, i have two wallets and one local wallet. I dont want to store my btc on one bitcoin wallet. So when the wallet encounter trouble, im able to switch with the other. Also i dont guarantee my btc is safe thats why im using these wallets. My local wallet is very useful, so i suggest you must use one. My local wallet very versatile. You can pay bills, prepaid load and convert btc into cash. Im not gonna use my btc without this.

acroman08

legendary

Activity: 2520

Merit: 1113

Quote from: dustboy on November 12, 2016, 10:56:25 PM

Offline wallet like bitcoincore and multibit will be the best choice for you to store your coins. Or you can use hardware wallet Ledger or Trezor. I have tried Ledger wallet sometime ago and it was good, too bad I lost it but luckily I had not stored all of my coins on the ledger.

Are you saying you weren't able to recover your funds from the lost Ledger? Far as I know, funds can easily be recovered in case of losing the ledger. As long as one has a copy of their mnemonic, it can be recovered in mycelium/multibit/etc.

I personally store my coins in mycelium and have recently gotten Electrum but I'm still figuring it out. Would definitely like a hardware wallet like Trezor or even Ledger, but, I'm gonna wait till I have plenty more coins to store. (who knows when that would be) Grin

richmcrich

hero member

Activity: 1120

Merit: 507

Quote from: whizter on November 20, 2016, 04:57:08 PM

Quote from: sportis on November 17, 2016, 05:22:26 PM

The principle is not all eggs in one basket.
An offline wallet; paper based or HD wallet for savings. This is not for everyday usage.
A PC wallet if our job demands the daily transactions with our clients
A web wallet for small expenses. Sometimes this is pairing with smartphone.

yes that is right to say i am agree with you that is too much dangerous and risky if you are going to put all your bitcoin in one wallet you should use multiple wallets to distribute your bitcoin in it, through this way you can minimize the risk of your whole bitcoins from hacking.

It is better to store bitcoin in different wallets especially if you have some large number of bitcoins, as there is always a risk of hacker who can hack your bitcoin wallet therefore it is good to distribute bitcoin in different wallet so as to minimize the risk of losing all at once.

Huge Black Woman

sr. member

Activity: 322

Merit: 251

Take the advice and cold store them mo fos. That's way too much to be storing on a cell phone. Spose it's a good thing you isn't gambling them all away. You got what we call luxury problems my man.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: SheHadMANHands on November 27, 2016, 02:00:31 PM

In terms of offline wallet... Ledger still has a black friday sale

Just keep a "dirty" wallet for trading/gambling. But save your bigger amount in a hardware/offline wallet...

Hardware wallets aren't a necessity. You can very well just stick to having your wallet files stored on USB drives, where you can even choose to add another layer of protection by encrypting everything. That's what I am doing. Or you simply create a paper wallet containing your long term coins. It's a free method.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

I'll tell you what I suggest.
Amount of bitcoins which you want to keep safe and you are going to save them for long times, store them in offline wallet storage, I mean you can store them on hard drive or on flash drive. Than keep them in safe place.
And now, if you want to keep 1-2 bitcoin for everyday uses or simply for to buy or trade online, than choose secured online wallets, you can search them on google and you'll find good list, make decision on your own.

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

In terms of offline wallet... Ledger still has a black friday sale

Just keep a "dirty" wallet for trading/gambling. But save your bigger amount in a hardware/offline wallet...

equator

legendary

Activity: 1190

Merit: 1002

Storing Bitcoins in exchange is not recommended , only use them when you need any trade . it is better to use desktop wallet which gives you full control on our wallet and keys that in future if any problem you can retrieve them through private key. And when you use desktop or hardware wallet you dont have to worry of using in gambling or not as in web wallet they have some restriction of not using the wallet transaction for gambling like coinbase have their terms and condition that if any account found using for gambling then their account will get ban

So it is always safe to use desktop or hardware wallet and use 2 or more wallet like one wallet for investment purpose which you dont use them frequently and one wallet for frequent use like trading ,investing in ICO and doing gambling

2double0

legendary

Activity: 2618

Merit: 1105

I would suggest you to put all your coins separately because that way, you will have all of them differentiated for different purposes.
I mean, you may store 2 coins in blockchain for gambling, 3 coins in electrum for trading purposes, and 5 coins in offline wallet to put it safe.

bitcoinisbest

hero member

Activity: 1218

Merit: 557

OP - Yes when you have many btc its better to have many wallets and store in offline wallet is the best which help you in string securely as you dont use for trading or spending purpose. Also just keep around 2-3 in active wallet just incase you require to spend it.

OrangeII

hero member

Activity: 2170

Merit: 503

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: Kotone on November 26, 2016, 10:40:25 AM

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Blockchain is really good and most trusted of users to store their bitcoins this is a number secured bitcoin wallet in the world even your going to hold your bitcoin for year's it will be safe in blockchain

just always remember and save the important things.

you're right, blockchain always reliable since it first became wallet for users bitcoin, even to this day I still use blockchain to save bitcoin I always get, and maybe I'll keep using it until I'm no longer looking for bitcoin, but I think I still would look for it. well, very much like Coinbase storage wrought, but I prefer blockchain than others

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Blockchain is really good and most trusted of users to store their bitcoins this is a number secured bitcoin wallet in the world even your going to hold your bitcoin for year's it will be safe in blockchain

just always remember and save the important things.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

Quote from: BlockEye on November 26, 2016, 07:38:32 AM

Quote from: BitcoinHodler on November 26, 2016, 07:35:22 AM

Quote from: ivanst776 on November 26, 2016, 07:24:04 AM

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Maybe for you it is not a large amount of bitcoin but for me and for a good number of users here it is not a small amount of bitcoins.

I would suggest you to buy a hardware wallet, maybe a trezor or a ledger nano S or hw.1(it is the cheapest one), they are safe enough but you can use also paper wallets but hardware wallets are more user friendly.

i still can not wrap my head around for buying a hardware wallet. in my opinion it is not yet worth it for me to pay $100 (or less for some other producers) just to hold my bitcoins as long as i can make a perfectly safe cold storage on my own and then spend from it the same easy and safe way.

Yeah. I preferred too a cold storage for safe and no hassle way of saving bitcoin. I didn't trust hardware wallet to hold my bitcoin even online wallet.

don't get me wrong, it is not a matter of trust at all. these hardware wallets have been around for enough time that i can trust them and if i am not mistaken one of them is even open source.

my problem is with paying for something that i can create for free myself. and i guess hardware wallets are a good way of storing bitcoins for those who can not do this or maybe they are too lazy to do it and want some safe way to store their 1000BTC on.

BlockEye

legendary

Activity: 1148

Merit: 1097

Bounty Mngr & Article Writer https://goo.gl/p4Agsh

Quote from: BitcoinHodler on November 26, 2016, 07:35:22 AM

Quote from: ivanst776 on November 26, 2016, 07:24:04 AM

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Maybe for you it is not a large amount of bitcoin but for me and for a good number of users here it is not a small amount of bitcoins.

I would suggest you to buy a hardware wallet, maybe a trezor or a ledger nano S or hw.1(it is the cheapest one), they are safe enough but you can use also paper wallets but hardware wallets are more user friendly.

i still can not wrap my head around for buying a hardware wallet. in my opinion it is not yet worth it for me to pay $100 (or less for some other producers) just to hold my bitcoins as long as i can make a perfectly safe cold storage on my own and then spend from it the same easy and safe way.

Yeah. I preferred too a cold storage for safe and no hassle way of saving bitcoin. I didn't trust hardware wallet to hold my bitcoin even online wallet.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

Quote from: ivanst776 on November 26, 2016, 07:24:04 AM

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Maybe for you it is not a large amount of bitcoin but for me and for a good number of users here it is not a small amount of bitcoins.

I would suggest you to buy a hardware wallet, maybe a trezor or a ledger nano S or hw.1(it is the cheapest one), they are safe enough but you can use also paper wallets but hardware wallets are more user friendly.

i still can not wrap my head around for buying a hardware wallet. in my opinion it is not yet worth it for me to pay $100 (or less for some other producers) just to hold my bitcoins as long as i can make a perfectly safe cold storage on my own and then spend from it the same easy and safe way.

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Maybe for you it is not a large amount of bitcoin but for me and for a good number of users here it is not a small amount of bitcoins.

I would suggest you to buy a hardware wallet, maybe a trezor or a ledger nano S or hw.1(it is the cheapest one), they are safe enough but you can use also paper wallets but hardware wallets are more user friendly.

sabbirshm

sr. member

Activity: 294

Merit: 250

Quote from: metalbean on November 12, 2016, 06:54:17 PM

I have less than 10 in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Firstly, you can store your bitcoin in computer with a bitcoin software.Its simple to understand and you can spend it easily.

Secondly, you can store bitcoin in CD,Memory Card.First,copy the wallet.dat file to CD and delete it from computer.

Thirdly, you can keep your bitcoin in a third party websites like exchange sites or any site that allows to deposit or transfer bitcoin.

Topic: How and where do I store my bitcoins? - page 4. (Read 6559 times)