How do you keep your bitcoins? - page 56.

FlightyPouch

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Quote from: PeRo on April 11, 2017, 03:06:36 PM

I keep my Bitcoins in the classic Bitcoin wallet for android phones. I would not trust my Bitcoins to online wallets and exchange sites, I could risk losing big amounts of money. I do not want to use web wallets even for my small amounts, so I use phone wallet, its small, safe and reliable.

I am confused because I am using an application on my phone, what is the difference between these bitcoin wallet for android and the online wallet that is for me, is just the same. As an application developer I want my users to be satisfied with my program, so if they all have an android, why not make my program or an apk so users can use my program in their android. That is the idea, you can still access the bitcoin wallet for android on their sites.

btcjoin14

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Quote from: BCTBF on April 11, 2017, 03:15:14 PM

I just keep it in wallet sites, and partly stored on gambling sites that have trusted.
Just as simple as that I keep my bitcoin.

Smart, most of the new people that use Bitcoin online have an online Bitcoin Wallet and use really weak security with it. Bitcoin Wallets that are online is pretty good if you have less than 1 Bitcoin or even less than that because those online wallets have certain amounts of fees that allow for faster transaction confirmations.
Having a Bitcoin Wallet that is offline is very important if someone is trying to hold Bitcoin to spend later.

BCTBF

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I just keep it in wallet sites, and partly stored on gambling sites that have trusted.
Just as simple as that I keep my bitcoin.

PeRo

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I keep my Bitcoins in the classic Bitcoin wallet for android phones. I would not trust my Bitcoins to online wallets and exchange sites, I could risk losing big amounts of money. I do not want to use web wallets even for my small amounts, so I use phone wallet, its small, safe and reliable.

bitart

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Quote from: DoublerHunter on April 11, 2017, 07:47:47 AM

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.

I don't think that online wallet are risky because if you know how to manage your online account and you know how to secure your account then there is nothing to worry about. Just use a strong password and a separate email with strong password also and don't forget to turn on the 2 factor authentication in the website so you will be more secure.

You're right about the importance of the strong password and the 2FA and etc, the problem is not the hackers. The real risk is:
Just imagine, that you have your hard earned 2-3 or even more BTCs in your web wallet (means you have an account at a wallet service provider's website, and you don't have the private key, just an account, this is an online wallet). If the wallet provider goes down (closes the site, goes bankrupcy, etc.) then you will lose your BTCs.
If you have a hardware wallet or an offline wallet on your PC or laptop, you are in control of your private key (recovery seed, or any other backup method), so you don't depend on an untrustable party.
Web wallets are comfortable but risky, offline and hardware wallets are more secure but less comfortable.

CODE200

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Well i use an online wallet to keep all of my bitcoims because some says that it's much safer to store your bitcoin in a online wallet but some people says that each much safer to store in an offline wallet. I still don't know what is the difference of using online wallet from offline wallet and which is much safer ?

DoublerHunter

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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.

I don't think that online wallet are risky because if you know how to manage your online account and you know how to secure your account then there is nothing to worry about. Just use a strong password and a separate email with strong password also and don't forget to turn on the 2 factor authentication in the website so you will be more secure.

AicecreaME

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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.

slaman29

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To be honest, I know even when my first introduced to Bitcoin that for perfect security I needed to install my own wallet so I could control private keys and such. But on one concern of mine was how I always lost my passwords, what more private keys. Another was my balance is so small (less $10 usd) so I felt it was okay for a web wallet, which I still continue using.

htmlcake

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I prefer to use an online wallet in my browser.

pinggoki

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I stored my bitcoin in my two wallet, one is the local wallet and another one is the leading and trusted wallet which is blockchain. Keeping my bitcoin in two wallet is more safety because in case that the other one get scam I have my remaining bitcoin in other wallet.
I keep my bitcoin in local wallet so I can easily convert it into fiat.

Windpower

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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

No offense, but that it is a pretty stupid idea. Why in the world would you keep all of your coins in an online trading site? Especially if you are planning on making a large investment soon. I would definitely withdraw and store your coins in a software or hardware wallet. Websites can always be hacked or could go rogue and you would lose all your Bitcoin with no way of getting it back. I personally store all of my Bitcoin in a ledger wallet. I picked it up for 15 bucks and it has been working very well for the past year.

BeGoods

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Quote from: Wowcoin on April 11, 2017, 05:06:05 AM

I keep may bitcoins in a local wallet that i can exchange it in cash if i want. So once bitcoin price get high i exchange it in cash by withdraw it in a bank. And the others i keep in blockchain that is the most i used from now to keep my bitcoin.

be careful with the exchange, although initially assured and reliable. I prefer to put it in the wallet first. when I want to convert it to a fiat I could send it to the exchange it reduces the risk.

Wowcoin

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I keep may bitcoins in a local wallet that i can exchange it in cash if i want. So once bitcoin price get high i exchange it in cash by withdraw it in a bank. And the others i keep in blockchain that is the most i used from now to keep my bitcoin.

Gembul

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Quote from: ekoice on April 11, 2017, 04:11:18 AM

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

I would advice you to store all your bitcoins in Electrum wallet.Its safe.Im using it for the last two years.Whenever you want to sell bitcoins,you can just transfer it to localbitcoins and sell there.But keep that 13 words seed safely as it would be used to recover your account in case of your laptop damaged.

Yes, for security and comfort we should not be too saving bitcoin in the exchanger wallet. But if you're trading I guess its fine. But if you're not using it better keep it in your own wallet as electrum or blockchain (which I use). Too risky to store your bitcoin in wallet exchanger even if it's small amount. Thank you

ekoice

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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

I would advice you to store all your bitcoins in Electrum wallet.Its safe.Im using it for the last two years.Whenever you want to sell bitcoins,you can just transfer it to localbitcoins and sell there.But keep that 13 words seed safely as it would be used to recover your account in case of your laptop damaged.

RealPhotoshoper

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Quote from: emezh10 on April 10, 2017, 09:11:10 PM

I store my bitcoins at the Web wallet because in the web wallet the sending and receiving of payment is so easy and hassle free. And in the web wallet I can exchange my bitcoin into fiat in an instant so I like the web wallet and can transfer it into my bank account.

If you use it daily then no problem at all to use web wallet based.
But if you want to store bitcoin for long term then i don't think it was a good idea.
Better to use a paper wallet or if you have large disk space enough you may can try the bitcoin official client wallet.

micher143

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I kept my bitcoin is a web wallet because in that wallet my bitcoin is safe and I can convert it instantly into fiat. And my bitcoin can be deposited into banks instantly so use my web wallet and It have a application too so the sending and receiving of bitcoin is hassle free.

iram3130

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Quote from: lighpulsar07 on April 11, 2017, 03:09:41 AM

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

My way of storing bitcoin is to create a random address in bitaddress.org and store your private key in safe (don't lose your private key) or a place you can secure it and send your bitcoins in that address. There are many ways to store your bitcoins you can create an account in blockchain.info and create cold wallet address for storing bitcoins for future purposes.

Exactly how many of us store. I have stored some bitcoins for my future in a cold wallet because that way I don't feel like spending or using it for other purposes.
If you are saving your bitcoins in exchange websites then I would clearly suggest you to transfer all of them to a local wallet or cold storage..

lighpulsar07

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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

My way of storing bitcoin is to create a random address in bitaddress.org and store your private key in safe (don't lose your private key) or a place you can secure it and send your bitcoins in that address. There are many ways to store your bitcoins you can create an account in blockchain.info and create cold wallet address for storing bitcoins for future purposes.

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