I saved bitcoin in coinbase online wallet but for 5 years it's better to save in desktop wallet like electrum or wallet hardware Trezor, Ledger USB, KeepKey although a little complicated but safe.
I prefer using a blockchain wallet for saving my bitcoins. It gives the easiest accessibility with manual transaction fee option which is not present in most of the wallets. Other wallets quoted such as the trezor, ledger, keepkey and all useful for long term holding of the bitcoin as an investment. Accessing it often is bit complicated. 
Topic: How do you keep your bitcoins? - page 48. (Read 48802 times)
I saved bitcoin in coinbase online wallet but for 5 years it's better to save in desktop wallet like electrum or wallet hardware Trezor, Ledger USB, KeepKey although a little complicated but safe.
I keep my bitcoins in my wallet for it is more secured in my blockchain wallet rather than transfer it to insecure source, It can be easily transfers onward from my wallet for business transactions to others.
I keep my bitcoins in many places.
1. In my electrum wallet.
2. In form of physical bitcoins.
3. Invested in ICO and altcoins.
4. Monero and ethereum are second to bitcoin for me.
1. In my electrum wallet.
2. In form of physical bitcoins.
3. Invested in ICO and altcoins.
4. Monero and ethereum are second to bitcoin for me.
I just recently saw a post of my FB friend that he bought a hard wallet online. It is a very nice way to keep your Bitcoin. You will have your own private key for it so even if it will be lost or stolen, you can still retrieve your coins on it.
I always store BTC on my wallet, although it is not secure but simple, easy to use! Of course, I do not have much nor keep much. For safety
I keep it in my coinbase wallet. People say that coinbase is untrustworthy but who care. I feel safe with that kind of that wallet. People should try to use it either. I trust coinbase.
I haven't use coinbase wallet since I read a thread here in forum about the problem that was experienced by a member here.
If you think that they are safe, it's fine since that is your bitcoins not ours. But not just because you said that you are trusting coinbase.
Others are going to use it then, we have our different preferred wallets and storage.
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
If you want store your bitcoin in the online wallet then Ofcourse you need to believe at those services which have online web wallet to store your bitcoin .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
Here I myself believe only at the blockchain , which is official wallet of the bitcoin .
And also believe at the mysellium wallet where I can easily import and export my private key of the multiple wallets .
So I will suggest you for the blockchain only but stills if you have some doubt or the fear then I will suggest to create your bitcoin Adress ( you will get corresponding private key also ) then just Google that how to make storage wallet address .
Surely you will get solution and get store your bitcoin in Secret place without trace any data of transaction .
Cold storage wallet adress made offline , so you can trust yourself atmost but be careful that you should keep your private and public at safe place because if you will loss that data then you will loss your bitcoin .
you keep your btc trading site. it's good for you because you earn two profit coin or btc price increase. other if you keep btc you choice online wallet that keep all coin.
It's not that good to keep your btc's in a trading site. What I do is I'm keeping it right now on a local exchange and I'm trusting them. Yes, it's your choice if you trust that trading site, then keep your coins there but still don't forget that what we are doing is risky. It is always been good to have a back up hardware wallet.
you keep your btc trading site. it's good for you because you earn two profit coin or btc price increase. other if you keep btc you choice online wallet that keep all coin.
It's not that good to keep your btc's in a trading site. What I do is I'm keeping it right now on a local exchange and I'm trusting them. Yes, it's your choice if you trust that trading site, then keep your coins there but still don't forget that what we are doing is risky. It is always been good to have a back up hardware wallet.
you keep your btc trading site. it's good for you because you earn two profit coin or btc price increase. other if you keep btc you choice online wallet that keep all coin.
I have saved all my bitcoins in electrum wallet as I think its the best wallet to have with great security and safety measure the only thing we need to take care is that we have saved the seed at proper place so if anything goes wrong it will be easy to recover bitcoins.
It's better to store your bitcoin in your bitcoin wallet more safe and more trusted than investing but we know that now all cryptocurrency exchanger are trusted there are also exchanger that scam money when you do exchange
Damn it. You are fucking crazy man. No one ever trust exchanger like you. Bifinex, mtgox, etc. Do you remember those? many people have lost their money in those trading platform. I will never put my money thereThat's the right thing to do never put your bitcoins on trading sites as there is always an fear of loosing your bitcoins to hackers so the best and safe place to store your bitcoins is either in offline or hardware wallet.
It's better to store your bitcoin in your bitcoin wallet more safe and more trusted than investing but we know that now all cryptocurrency exchanger are trusted there are also exchanger that scam money when you do exchange
Damn it. You are fucking crazy man. No one ever trust exchanger like you. Bifinex, mtgox, etc. Do you remember those? many people have lost their money in those trading platform. I will never put my money there
I used it to store to local wallet too but now, I am using electrum to personally store my bitcoin for future used. I started to invest on btc and start storing because I know it will become more valuable in the future.
I keep it in my coinbase wallet. People say that coinbase is untrustworthy but who care. I feel safe with that kind of that wallet. People should try to use it either. I trust coinbase.
I keep them on the exchange and rarely move them in a personal wallet. Of course moving bitcoin sometimes takes longer then expected and when I convert to eth I lose trust and move back to btc.
What you mean by encryption of private key? like making a rar file then making the password
never be a good idea to put the whole bitcoin you have on a third party wallet, especially when you have a plan to keep it for long term, better to use a paper wallet it's free from hacking and i can say it's 99 times better than store it on an exchange. ENCRYPTION : the process of encoding a message or information in such a way that only authorized parties can access it , so basically you are protecting your private key by set some keywords/password before you can access it. Paper wallet definitely!
But this is how I do it:
- First, I encrypt my private key (I am using AES256 at the moment – but I am working on my private cypher that will be using 512bit key)
- I generate random password for encryption, which I store in safe place (other than paper wallet obviously)
- I convert this to QR and print on sheet of paper along with BTC address
- I never put more than 10 BTC in single address
- To generate BTC address, I use random.org for generating random bit-sequence, and convert it off-line to address using this tool https://github.com/casascius/Bitcoin-Address-Utility
But this is how I do it:
- First, I encrypt my private key (I am using AES256 at the moment – but I am working on my private cypher that will be using 512bit key)
- I generate random password for encryption, which I store in safe place (other than paper wallet obviously)
- I convert this to QR and print on sheet of paper along with BTC address
- I never put more than 10 BTC in single address
- To generate BTC address, I use random.org for generating random bit-sequence, and convert it off-line to address using this tool https://github.com/casascius/Bitcoin-Address-Utility
What you mean by encryption of private key? like making a rar file then making the password
I store all of them in my Blockchain.info wallet, I don't have a lot of bitcoins though. Even if I decide to invest or get more money, I doubt I'll switch since I trust blockchain.info. The only downside I can see is if the site goes down.
I keep them on the exchange and rarely move them in a personal wallet. Of course moving bitcoin sometimes takes longer then expected and when I convert to eth I lose trust and move back to btc.
What you mean by encryption of private key? like making a rar file then making the password
Paper wallet definitely!
But this is how I do it:
- First, I encrypt my private key (I am using AES256 at the moment – but I am working on my private cypher that will be using 512bit key)
- I generate random password for encryption, which I store in safe place (other than paper wallet obviously)
- I convert this to QR and print on sheet of paper along with BTC address
- I never put more than 10 BTC in single address
- To generate BTC address, I use random.org for generating random bit-sequence, and convert it off-line to address using this tool https://github.com/casascius/Bitcoin-Address-Utility
But this is how I do it:
- First, I encrypt my private key (I am using AES256 at the moment – but I am working on my private cypher that will be using 512bit key)
- I generate random password for encryption, which I store in safe place (other than paper wallet obviously)
- I convert this to QR and print on sheet of paper along with BTC address
- I never put more than 10 BTC in single address
- To generate BTC address, I use random.org for generating random bit-sequence, and convert it off-line to address using this tool https://github.com/casascius/Bitcoin-Address-Utility
What you mean by encryption of private key? like making a rar file then making the password
I am using vanitygen offline to generate bitcoin address with the prefix I like, and print out using offline printer. Although there is no QR code, I am happy with the level of security.
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