How do you keep your bitcoins? - page 63.

Kevin77

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Quote from: HarringtonStark on February 18, 2017, 06:08:06 AM

I keep my bitcoins on trusted wallets such as Xapo, Block chain and Coinbase. Yes I use all the three. I split my bitcoins to prevent more loss if one wallet address is hacked or the wallet service shuts down. I only use trusted and proven wallet services because one time, I used snappybtc wallet service but then, I can no longer access the site. It says it is down. Fortunately it is empty.

When you are anticipating hacking and shutting down of the wallet services, why not you completely leave off web wallet and moving into stand alone wallets which will be completely supporting you to be independent of any services for a better protection of your bitcoins.

Basically web wallets are making us to compromise one of the prime characteristics of bitcoin ecosystem "decentralization". One good example for this : recently coinbase was asked to disclose their customer database.

Read more on this here : http://www.zerohedge.com/news/2016-12-01/largest-us-bitcoin-exchange-ordered-disclose-three-years-user-data-irs

Blackdeath

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Quote from: HarringtonStark on February 18, 2017, 06:08:06 AM

I keep my bitcoins on trusted wallets such as Xapo, Block chain and Coinbase. Yes I use all the three. I split my bitcoins to prevent more loss if one wallet address is hacked or the wallet service shuts down. I only use trusted and proven wallet services because one time, I used snappybtc wallet service but then, I can no longer access the site. It says it is down. Fortunately it is empty.

Using multiple wallets really help to secured your Bitcoin account since there is no impossible from hackers. In my place, I used blockchain to store huge amount od BTC since it has a capability to maximize the security of my wallet compared to other wallets. In terms of my second wallet, I used local Bitcoin exchnger to convert my btc to fiat money vice versa and also to use it as my second wallet. Using multiple wallets are really effective and will make you comfortable yo store huge of money online without fear of hackers.

HarringtonStark

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I keep my bitcoins on trusted wallets such as Xapo, Block chain and Coinbase. Yes I use all the three. I split my bitcoins to prevent more loss if one wallet address is hacked or the wallet service shuts down. I only use trusted and proven wallet services because one time, I used snappybtc wallet service but then, I can no longer access the site. It says it is down. Fortunately it is empty.

asdalani

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Quote from: Sled on February 18, 2017, 02:48:44 AM

I keep 2 wallets. 1 for online bitcoin wallet for my trading profits and also the another one is hardware wallet which is store most of my bitcoins and just keep it aside. I'm also planning to use paper wallet to serves as another cold storage and also a present gift for my friends. There still a lot of wallet to discover and i want to try it all Grin

.

That's pretty smart Sled.

Keeping Bitcoin wallets online is really something that people here need to do because there is a bunch of guys that just send money and forget about it, when the price increases 2x then I really hope that the owners who manage the market exchange that people store their money on isn't chilling on the beach in Cuba!

Sled

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I keep 2 wallets. 1 for online bitcoin wallet for my trading profits and also the another one is hardware wallet which is store most of my bitcoins and just keep it aside. I'm also planning to use paper wallet to serves as another cold storage and also a present gift for my friends. There still a lot of wallet to discover and i want to try it all Grin

.

dominikherzog5

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I only have a few btc,so I store it on exchange.

Vaskiy

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Quote from: hawkins on February 18, 2017, 02:13:18 AM

Quote from: darkangel11 on February 18, 2017, 02:03:50 AM

I'm using a desktop wallet. It has proven to be very reliable. Many people are using online wallets, but I don't completely trust online sites and feel better having coins on my desktop.
I never bothered with offline/paper wallets, I'm not that scared of being hacked. Maybe if I had 20+ btc I might consider it. I also agree with the previous posts that you should avoid keeping money on exchanges.

good for you. Well, I just use blockchain to save money I have. for me, blockchain a wallet is more than enough to store bitcoin I got from the internet. well, just activate 2FA, then everything will probably be maintained. I prefer a simple wallet for storing bitcoin I have.

Yeah based upon the need people prefer bitcoin wallets. For me too Blockchain is the wallet that gives everyday using access. People who make holding of bitcoin for a long uses desktop wallets for increased security. Most of the time daily usage is done for gambling purpose for which Blockchain is the best option.

allcloudminers

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There is no site that is 100 % secure. If you just want to store Bitcoin Xapo is probably the most secure. If you want a trading platform Kraken is probably the most secure. However, the interface of Kraken is not very nice. You can also read about hardware wallets, I have no experience of them.

I store my Bitcoin at different online wallets to spread the risk. I have experienced Mt Gox, Bitfinex and Bter hack/shotdowns. If you want to read more about different online Bitcoin exchanges you can visit www.cryptocoinzone.com

hawkins

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Quote from: darkangel11 on February 18, 2017, 02:03:50 AM

I'm using a desktop wallet. It has proven to be very reliable. Many people are using online wallets, but I don't completely trust online sites and feel better having coins on my desktop.
I never bothered with offline/paper wallets, I'm not that scared of being hacked. Maybe if I had 20+ btc I might consider it. I also agree with the previous posts that you should avoid keeping money on exchanges.

good for you. Well, I just use blockchain to save money I have. for me, blockchain a wallet is more than enough to store bitcoin I got from the internet. well, just activate 2FA, then everything will probably be maintained. I prefer a simple wallet for storing bitcoin I have.

darkangel11

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I'm using a desktop wallet. It has proven to be very reliable. Many people are using online wallets, but I don't completely trust online sites and feel better having coins on my desktop.
I never bothered with offline/paper wallets, I'm not that scared of being hacked. Maybe if I had 20+ btc I might consider it. I also agree with the previous posts that you should avoid keeping money on exchanges.

doomistake

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Quote from: Seeker#9 on February 17, 2017, 08:03:31 AM

I'm still relying on the same wallet i used to store my bitcoins two years ago. I've been using Blockchain wallet to keep my btc and a local wallet for converting it to loca lcurrency. I will only try to use hard wallet if i had a large amount of bitcoins.

This is also the same idea on how I am keeping my coins. But if you do have a bigger amount of bitcoins, let's say you do have 100 bitcoin, so, if I were you, I'm going to make 10 wallets, and then I'm going to divide that 100 bitcoins into 10, so there would be 10 bitcoins in each wallet, this is just for the safety of your coins, I mean even though someone would hacked your bitcoins, at least, just 10 bitcoins would be hacked to you rather than 100 bitcoins, which is really going to drive you insane and mad, if you are going to lose all 100 bitcoins.

So, this is just my idea, and it is just my opinion on how you are going to keep your bitcoins in a safe place, also you could try the hardware wallet, but you must have a back up of it, just being sure about the safety of it, in case you forget the password of it or something.

Meliodasama

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same with me i have low volume in online trading too
just because bitcoin have fluctuative rate
its no benefit if you can't manage it , then the withdraw fee also high too

need good management to keep bitcoin safely & get profit

nara1892

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Quote

How do you currently store your coins?

I store it on an online wallet even there is a way safer. but I never put any bitcoin on an exchange. many people say that it is dangerous because of scamming or the other reasons. So if you are going to save many bitcoins, I suggest you to save it on an offline wallet.

neochiny

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Quote from: mrkevio on February 17, 2017, 10:05:27 AM

Quote from: Reid on February 17, 2017, 10:01:01 AM

First of all you are doing a great job in thinking ahead.
They say thumb drive or a hardware wallet here but all those could get wrecked also if your hard drive fails then you might get more problem.
Some say paper wallet and I would have to agree with that. That is one safest thing that you would do and that might last longer than others.

Laminate it and put it in a fireproof safe. And you're done Cheesy

there's nothing safer than paper - I wish I had written things on paper that I lost. Virtual is virtual.

Ahuh. If the time frame's 5 - 10 yrs then paper wallets is indeed the way to go. Make several copies, laminate it, and keep one in your safe, wallet(physical), room, etc. Anywhere you feel is safe.

I'm not too keen on hardware wallets since who's to say it'd still be working 5 - 10 years on. Cheesy

Anyway, web wallets for spending money (or just so I'd have access to some coins anywhere) .
Desktop wallets for the main one.
Paper wallets for long time holding.

mornabo

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Quote from: Watershin on February 17, 2017, 01:27:50 PM

I use 3 wallets, one is electrum which I use on my pc,
The second one is original bitcoin wallet for android, I use it for payments when I'm out and I need bitcoins urgently.
And third one is a physical bitcoin which I use to store excess bitcoins which I'll be redeeming in far future or in a case of emergency.

using the wallet in android course it will provide convenience to transact. because it will be very flexible because you can carry the phone wherever, but I worry about is the safety of the wallet?

coin revolution

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People with too many bitcoins use hardware wallets. There are people who use paper wallets. People with fewer bitcoins like me are using online wallets.

But there's no need to be too paranoid. If your operating system is safe, I think it would be enough to use a desktop wallet.

Watershin

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I use 3 wallets, one is electrum which I use on my pc,
The second one is original bitcoin wallet for android, I use it for payments when I'm out and I need bitcoins urgently.
And third one is a physical bitcoin which I use to store excess bitcoins which I'll be redeeming in far future or in a case of emergency.

virusasog

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Quote from: AUDREY23 on February 17, 2017, 12:06:39 PM

My my bitcoin wallet for the function there is just for saved without having taken nothing left for groceries the day so that the money has entered the coin purse savings can not be retrieved. it is saving the old days later.

Everyone use to save their bitcoins in their online wallet or other offline alternatives only. I use blockchain and coinbase wallet from past 2 years. I haven't lost any of my bitcoins. Simply it is been secured for me. I hope you are using the same kind wallets.

Bitcoinsummoner

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Quote from: mrkevio on February 17, 2017, 10:05:27 AM

Quote from: Reid on February 17, 2017, 10:01:01 AM

First of all you are doing a great job in thinking ahead.
They say thumb drive or a hardware wallet here but all those could get wrecked also if your hard drive fails then you might get more problem.
Some say paper wallet and I would have to agree with that. That is one safest thing that you would do and that might last longer than others.

Laminate it and put it in a fireproof safe. And you're done Cheesy

there's nothing safer than paper - I wish I had written things on paper that I lost. Virtual is virtual.

For me if i really want to hold for a long time paper is not the best option for me i will use my brain to save and memorize the password.. or
If you want to save your private keys make it rar and save it to 3 different website that you can save it privately the rar file should be 16 character password that will be hardly bruteforce and upload it in 3 cloud site like in google.. or mediafire or 4shared.. and download it in the future if you want to sell your bitcoin and get your backup private keys and wallet.dat. its more safe for me because paper can be gone easily and you could not find it anymore once its gone..

AUDREY23

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My my bitcoin wallet for the function there is just for saved without having taken nothing left for groceries the day so that the money has entered the coin purse savings can not be retrieved. it is saving the old days later.

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