Topic: How do you keep your bitcoins? - page 28. (Read 48802 times)
Currently I am using online sites to store my bitcoin due to its small amount but if in the future I can have a chance to increase them then I should start transferring it to an offline wallet, I think it is the safest option to store them.
To this day I believe in storing bitcoin in my local wallet, even though the tax bill is higher than other bitcoin wallets, but the comfort and security I can feel in my local wallet is more convincing.
Everything has its price, cheap and free always worse than spend small fees for keep your Bitcoin in long time. Store your Bitcoin in online wallet while the price of Bitcoin pump to the moon, I can sure you will met many problems for withdrawal your funds! 
i think hardware wallet is the best. it's costs quite expensive but there is not any fear to catch virus,which can steal coins.just do not loss your private key.no one can steal that.and it's download is so easy.so i keep my bitcoins in hardware wallet.
I don't believe that viruses are the ones who steal your coins now is it. Its the hackers that are stealing them, the right term is that, 'the virus are the one who will destroy your coins'.Well that's the main reason why people can hacked your account, its because they're also stealing you private key its the first and the must thing. I think you don't need fancy wallets and stuffs you just need to have more knowledge about the wallets and the awareness to it. Even if you know its that secure, trust only yourself.
I would not trust an online storage site or an exchange with a large amount of money. I would only put money on an exchange for trading and I would keep some stored separately in a secure location. So the question is what is a secure location? Most people would say an offline paper wallet is the most secure. If you know that no one has the private key, then that probably is the most secure. You would need to make sure you keep the wallet address and private key where you can get to them but they are secure like in a safe deposit box or a safe. As long as you do that, you should be fine.
Then the problem is what happens if you die and you want a beneficiary to have access to the coins. For this situation, you may need to leave instructions on what to do with the keys in a will or in the safe. I have heard of people keeping the public and private keys on a thumb drive, but I have heard that the data may not last forever on those, so a paper wallet is probably best.
I just keep it in my wallet. And im not spending it in the things that is unneccesary to buy. So i save it in my wallet. Coins.ph is the wallet i am using. Im converting bitcoin to peso there. It can also help me to have something to get when im in the times of financial crisis. Then the problem is what happens if you die and you want a beneficiary to have access to the coins. For this situation, you may need to leave instructions on what to do with the keys in a will or in the safe. I have heard of people keeping the public and private keys on a thumb drive, but I have heard that the data may not last forever on those, so a paper wallet is probably best.
I have all my coins in on an online trading site (paxful) (low volume)
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
So far I don't have enough knowledge about where to keep or place my bitcoin. In fact, I still don't know how to transfer it too, that's why more on reading on this forum for what I did most often. So it gives me more additional idea and knowledge in terms of bitcoin, trading, different wallet and others. I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
i think hardware wallet is the best. it's costs quite expensive but there is not any fear to catch virus,which can steal coins.just do not loss your private key.no one can steal that.and it's download is so easy.so i keep my bitcoins in hardware wallet.
yes i keep my bitcoin in my wallet as my savings in the future and i hope become double because i see that bitcoin keep increasing the price value almost everyday, so i hope before the of this year bitcoin goes up the price value until 5000$.
For me, I prefer to store all my coins in different places.
For example, 3-4 wallets, altcoin desks, and if possible invest in some projects.
By the way, I believe my money will be safe and by the time I will also get some profit from trading and investing.
Altcoin desks? What is altcoin desk? Do you mean it is hardwallet like Trazor or Ledger? And although you can earn profit from trading and invesment, if you cannot keep safe you money careful, your profit and funds will rob all in someday by hacker. For example, 3-4 wallets, altcoin desks, and if possible invest in some projects.
By the way, I believe my money will be safe and by the time I will also get some profit from trading and investing.
I would not trust an online storage site or an exchange with a large amount of money. I would only put money on an exchange for trading and I would keep some stored separately in a secure location. So the question is what is a secure location? Most people would say an offline paper wallet is the most secure. If you know that no one has the private key, then that probably is the most secure. You would need to make sure you keep the wallet address and private key where you can get to them but they are secure like in a safe deposit box or a safe. As long as you do that, you should be fine.
Then the problem is what happens if you die and you want a beneficiary to have access to the coins. For this situation, you may need to leave instructions on what to do with the keys in a will or in the safe. I have heard of people keeping the public and private keys on a thumb drive, but I have heard that the data may not last forever on those, so a paper wallet is probably best.
I would like to agreed with your statement sir. You had a big point on this matter, it is really better if we prepare the person to whom we trusta about what we are doing here in bitcoin. So that all our effort that we stayed in this field of industry will not be turn into nothing of course. Then the problem is what happens if you die and you want a beneficiary to have access to the coins. For this situation, you may need to leave instructions on what to do with the keys in a will or in the safe. I have heard of people keeping the public and private keys on a thumb drive, but I have heard that the data may not last forever on those, so a paper wallet is probably best.
To this day I believe in storing bitcoin in my local wallet, even though the tax bill is higher than other bitcoin wallets, but the comfort and security I can feel in my local wallet is more convincing.
For me, I prefer to store all my coins in different places.
For example, 3-4 wallets, altcoin desks, and if possible invest in some projects.
By the way, I believe my money will be safe and by the time I will also get some profit from trading and investing.
For example, 3-4 wallets, altcoin desks, and if possible invest in some projects.
By the way, I believe my money will be safe and by the time I will also get some profit from trading and investing.
I store my bitcoins in a wallet, it is coins.ph and there I store up my earned bitcoins. When I don't need to cash out money, I just keep my bitcoins there. It is safe and reliable to use, and also, easy to understand how to use it. For now, I haven't verified my account so I can't cash out my bitcoins.
I don't maintain large amount of bitcoin in my online wallet I just convert them into fiat and put in my bank accounts. I am planning to invest in bitcoin maybe when the price goes low and put them in an offline wallet that's what I think is the safest place for bitcoin especially if they are large amount and your keeping them in a long term period.
I have all my coins in on an online trading site (paxful) (low volume)
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
I usually I parted my money in three parts. First part is where I took part for my tithes. Tithes is the tenth of my money that belongs to God. Then another part is where I took for my investments. I usually put 50-60 percent of my earned money and bitcoin to investment. For it to grow and be doubled. Then the remaining part of my bitcoin I save it until bitcoin's price become high.
nano ledger
I do save my Bitcoins from a hardware wallet called Trezor. But half of them are now in trading. I trade my Bitcoin to altcoins which I believe can give me more profit and more Bitcoins.
DOMPET ONLINE COINBASE MULTI-SIG
The multi-sig online wallet is a type of online wallet that uses more than one private key. I will use coinbase multi-signature vault as an example. This wallet works by storing three special keys. The design is very good with the best comfort and security, and you if the provider of the hacked wallet / coinbase goes bankrupt.
This wallet works by having three keys. Blame is held by the coinbase itself. The second is created on your machine, encrypted with a passphrase that is not sent to the coinbase and then the key is sent and stored in their system, this key is a 'shared' key. The last key or 'user' key is only held by you and with a key lock that is encrypted by the user as a backup.
This wallet works on 2 of 3 systems, to pull the coin you put into your online coinbase account and send the keywords to you (behind the scenes) and you simply enter the passphrase to pull it back. If the coinbase goes bankrupt, you can come back with your keywords and third user keywords. If you forget the passphrase, you can provide the coinbase with the user key and your coin decision in that way. This provides comfort and a high level of security, provided that the wallet is installed on a machine that is not problematic. Coinbase is the safest online wallet at the moment and has its own class in terms of security for an online wallet. This wallet is safe for long term coin storage.
The multi-sig online wallet is a type of online wallet that uses more than one private key. I will use coinbase multi-signature vault as an example. This wallet works by storing three special keys. The design is very good with the best comfort and security, and you if the provider of the hacked wallet / coinbase goes bankrupt.
This wallet works by having three keys. Blame is held by the coinbase itself. The second is created on your machine, encrypted with a passphrase that is not sent to the coinbase and then the key is sent and stored in their system, this key is a 'shared' key. The last key or 'user' key is only held by you and with a key lock that is encrypted by the user as a backup.
This wallet works on 2 of 3 systems, to pull the coin you put into your online coinbase account and send the keywords to you (behind the scenes) and you simply enter the passphrase to pull it back. If the coinbase goes bankrupt, you can come back with your keywords and third user keywords. If you forget the passphrase, you can provide the coinbase with the user key and your coin decision in that way. This provides comfort and a high level of security, provided that the wallet is installed on a machine that is not problematic. Coinbase is the safest online wallet at the moment and has its own class in terms of security for an online wallet. This wallet is safe for long term coin storage.
I am planning to use it in a big project to earn more. Till then it is in my bitcoin wallet.
I store my the bulk of my coins in a cold storage. The private keys for that wallet is stored on different offshore locations. I never store anything in my home. I do keep small amounts of coins in a hardware wallet I carry around with me and also a backup phone that has no service so that it does not connect to the internet. I only connect it to a secure wifi location if I ever need to make some transactions.
thats good, but for me i store bitcoin in my online wallet, i am pretty sure that that could be good and it is trusted, i put my bitcoins their and im so happy that even though that i didnt invest it i just hold it , it will have a profit and thats good. holding bitcoin is good too, because it will have a profit in just storing it . I have all my coins in on an online trading site (paxful) (low volume)
I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
Well i store my bitcoins using my online wallets which is very known and trusted wallet here in the Philippines. It's very hard for me to trust another bitcoin wallet because maybe that wallet is a scam that will steal all of my bitcoins that's why i only use two bitcoin wallets named blockchain and coins.ph. I plan on making a large investment very soon, and want to safely store all of my coins
I.E I basically want to drop a couple thousand, and keep them in the safest possible way, where I can revisit them in 5-10 years or so and reap the benefits, or cry about the loss.
What is the best way to do this, and what's the best way of ensuring a backup?
How do you currently store your coins
thanks in advance for any inputs
Jump to: