How do you keep your bitcoins? - page 55.

vips

newbie

Activity: 14

Merit: 0

>:(I Suggest to move your bitcoin into electrum wallet dont stay your coins in paxful..it is good idea

Quote from: Playboi on February 16, 2017, 05:02:49 PM

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

R2-D2R2

sr. member

Activity: 269

Merit: 250

Kept in a bank safe deposit on encrypted usb drive.

kvlolo

full member

Activity: 134

Merit: 100

I KEEP it in Electrum wallet and coinbase.

delliaerd

hero member

Activity: 672

Merit: 500

Quote from: Playboi on February 16, 2017, 05:02:49 PM

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

a long term i think you can use a cold wallet . Because in my opinion storing coin in clod wallet is safe as well. It is better than you storing your coin in exchange site which can scam you whenever.
By the way currently i use online wallet to store my coin, the reason i use it's because I usually withdraw some my balance every weeks to complete my necessity, not plan to store my coin for 5 until 10 years like you.

crwth

copper member

Activity: 2940

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https://linktr.ee/crwthopia

Quote from: Pattart on April 14, 2017, 05:43:02 AM

Quote from: Haladay on April 13, 2017, 05:30:34 PM

Quote from: Pattart on April 11, 2017, 07:47:53 PM

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Oh come on, there is nothing tricky with paper wallet. It's simple and secure. For a beginner, there is nothing easier than online wallets such as Coinbase and Blockchain.info for sure. Yet If you wanna make sure your bitcoins are in secure, the paper wallet method is out there for you!

I'm not concerned about security. because paper wallet will definitely be safe because you will be protected from hackers, I'm concerned about the flexibility of paper wallet would be less complicated to transaction right ?

There are hardware wallets that are easier to use also. Also, the hardware already provides the keys, etc. Paper wallets are easy also, but you need to be offline to be perfectly secure.

Pattart

hero member

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Quote from: Haladay on April 13, 2017, 05:30:34 PM

Quote from: Pattart on April 11, 2017, 07:47:53 PM

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Oh come on, there is nothing tricky with paper wallet. It's simple and secure. For a beginner, there is nothing easier than online wallets such as Coinbase and Blockchain.info for sure. Yet If you wanna make sure your bitcoins are in secure, the paper wallet method is out there for you!

I'm not concerned about security. because paper wallet will definitely be safe because you will be protected from hackers, I'm concerned about the flexibility of paper wallet would be less complicated to transaction right ?

Gens09

sr. member

Activity: 434

Merit: 250

I keep my bitcoins in my bitcoin wallet in my phone 📞📞📞
Having a bitcoin wallet in my phone is really cool it is really acessable when i want to buy in store that accepting bitcoins.
You can make transactions anywhere you just need to carry your phone but there are some wallets that take days when doing a transactions.

NEWGOODOUBLE

sr. member

Activity: 476

Merit: 250

Quote from: karmakeddon on April 13, 2017, 05:53:27 PM

I still keep my bitcoins in a mobile wallet that is installed in one of my phones which i rarely connect to the internet. I also took out the simcard of that phone so it doesnt even have a network. Plus, its small enough that I could carry it wherever I go.

of course it will be very flexible because everyone brings their mobile phone. Of course you can make transactions wherever and whenever. because you carry a wallet anywhere.

roomfirst

sr. member

Activity: 516

Merit: 250

Quote from: Playboi on February 16, 2017, 05:02:49 PM

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 never keep me bitcoins on online trading site because i'm afraid someday that trading site will scam. I keep my bitcoins on online bitcoin wallet blockchain, blockchain is my first bitcoin wallet since i start using bitcoin and i don't have any issue until now. In my opinion, blockchain is really safe, just remember to change your password weekly or monthly if you have many bitcoins on your wallet for safety.

YuginKadoya

legendary

Activity: 3038

Merit: 1169

There are many ways to store your coins regarding if it is online or offline you can choose from that category, I am only using the online ones for now and there are pretty a lot of them in the internet if you search for them with google but regarding these online features you are trusting a site that has control over your money just like banks, and if you choose the offline ones, there are pretty much that can handle it and you can store them the way you want and physically if needed, just like paper wallets, physical bitcoin, Ledgers, that you can hold physically, and I am adding mobile and Desktop wallets.

tabas

hero member

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Quote from: karmakeddon on April 13, 2017, 05:53:27 PM

I still keep my bitcoins in a mobile wallet that is installed in one of my phones which i rarely connect to the internet. I also took out the simcard of that phone so it doesnt even have a network. Plus, its small enough that I could carry it wherever I go.

I have also a mobile wallet but I'm not keeping most of them there. I'm just using them when I had a transaction and there's a need to pay for the services that I availed. Most of the time I keep on storing it on a web wallet but not all of them, there are some in desktop. I'm spreading all of them.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Haladay on April 13, 2017, 05:30:34 PM

Quote from: Pattart on April 11, 2017, 07:47:53 PM

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Oh come on, there is nothing tricky with paper wallet. It's simple and secure. For a beginner, there is nothing easier than online wallets such as Coinbase and Blockchain.info for sure. Yet If you wanna make sure your bitcoins are in secure, the paper wallet method is out there for you!

Blockchain.info online wallet will do the rest of the work for you because it is designed for people who want hot wallet for doing transaction which is very fast in receiving bitcoins because it is the main network and it doesn't need a confirmation just to reflect to your wallet because it just need a record in blockchain and once it is shows then you already got the bitcoin.

Paper wallet is designed for people who wants an affordable wallet and it is one of the most secured wallet because it doesn't need internet to receive bitcoins and it is safe from hackers but your worst enemies are water and fire.

karmakeddon

sr. member

Activity: 378

Merit: 251

Quote from: BeGoods on April 13, 2017, 07:51:25 PM

Quote from: karmakeddon on April 13, 2017, 05:53:27 PM

I still keep my bitcoins in a mobile wallet that is installed in one of my phones which i rarely connect to the internet. I also took out the simcard of that phone so it doesnt even have a network. Plus, its small enough that I could carry it wherever I go.

I'm not concerned about flexibility because it would be very simple and flexible. I want to ask how security in their own mobile phone wallet because there must be a friend who might borrow your phone, or it could have lost your cell phone?

It is a secondary phone..No network..Wifi disabled..If a friend wants to borrow my phone, I lend them the phone without the wallet..The phone with the wallet never leaves my pocket. And for sure im not going to lose that phone, since like I said, it never leaves my pocket.

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: karmakeddon on April 13, 2017, 05:53:27 PM

I still keep my bitcoins in a mobile wallet that is installed in one of my phones which i rarely connect to the internet. I also took out the simcard of that phone so it doesnt even have a network. Plus, its small enough that I could carry it wherever I go.

I'm not concerned about flexibility because it would be very simple and flexible. I want to ask how security in their own mobile phone wallet because there must be a friend who might borrow your phone, or it could have lost your cell phone?

karmakeddon

sr. member

Activity: 378

Merit: 251

I still keep my bitcoins in a mobile wallet that is installed in one of my phones which i rarely connect to the internet. I also took out the simcard of that phone so it doesnt even have a network. Plus, its small enough that I could carry it wherever I go.

Haladay

sr. member

Activity: 476

Merit: 250

Quote from: Pattart on April 11, 2017, 07:47:53 PM

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Oh come on, there is nothing tricky with paper wallet. It's simple and secure. For a beginner, there is nothing easier than online wallets such as Coinbase and Blockchain.info for sure. Yet If you wanna make sure your bitcoins are in secure, the paper wallet method is out there for you!

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: Pattart on April 11, 2017, 07:47:53 PM

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

I bet less than 1% of bitcoiners still use paper wallets. Many people don't care about security at, all and they keep all their coins on a single wallet, on their main computer that they're using every day to watch movies and download programs. Many people even keep their money on exchanges even though there were so many warnings not to do it and at least as many thefts.
IMO, a dedicated offline device like a netbook, bought for the sole purpose of holding your wallet is the best idea. It offers a decent level of security, easy and quick access, and is small enough to carry with you.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: AicecreaME on April 11, 2017, 06:49:09 AM

Quote from: ?? on ??

Quote from: Playboi on February 16, 2017, 05:02:49 PM

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

The best way to store bitcoins is with hardware wallet and you can easily download it. And of course for backing up just make sure you got a proper storage of that wallet so that whenever you want to get it, you can have it easily. Online wallets are risky but if you do trust them go for it, just make sure you are aware of what can happen to them anytime.

Also because it is more safer than the online wallet, because the online wallet is so vulnerable to hacker because of the internet, and we all know that everything is possible in our technology nowadays, and compare to the hardware wallet, hackers needs to get your wallet physically, for them to hack your wallet and it's much pretty reassuring because there is a lot of hackers that wants money, that is why we have to be more extra careful about our bitcoins.

Unless that online wallet provider is being trusted and has been running for a lot of years then no doubt that it is going to give you security. But as their security is upgrading, those intruders will keep on upgrading too but if they really can't breached that site they will just find another that has low security. Still it's your choice if you want to keep it there.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: Haladay on April 11, 2017, 05:39:13 PM

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

I think users want something flexible. paper wallet will be a little tricky to use, it might be nice to use paper wallet if you're already committed to keep bitcoin in a long time

Haladay

sr. member

Activity: 476

Merit: 250

Create a unique bitcoin adress.
Don't share you private adress with anyone.
Setup a phrase for private adress.
Print out a paper wallet.
Keep that wallet in safe.
Make sure that nobody is able to reach and see your private key.
That's all! You don't need any shinny bitcoin hardware wallet.

Topic: How do you keep your bitcoins? - page 55. (Read 48802 times)