How do you keep your bitcoins? - page 64.

mrkevio

full member

Activity: 210

Merit: 100

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.

maku

legendary

Activity: 1288

Merit: 1000

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

You have couple thousand bitcoins or you want to spend couple thousand dollars (or whatever currency you are using) to buy BTC with it?

With that amount of coins I wouldn't hesitate to invest in hardware wallet, either Ledger Nano or Trezor.
The main feature of hardware wallets is that they generate Bitcoin private keys in offline environment.

Using 3rd party online wallets, exchanges, other services is irresponsible behaviour. They are no suitable for storing large amount of BTC.

Reid

hero member

Activity: 3094

Merit: 654

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.

NEWGOODOUBLE

sr. member

Activity: 476

Merit: 250

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.

same with me. I currently use the online wallet "blokchain" for storing my bitcoin. very flexible and easy to use. but I was pretty annoyed with the default fee of blockchain that is high enough

ImHash

hero member

Activity: 924

Merit: 506

How does Satoshi keeping his coins? I think if we just ignore that we have bitcoins at all it's safer and more profitable, imagine what happens if everyone stop selling their bitcoins? since the demand is increasing every day the price grows much more than $1100, I even have decided not to move anything that I earn in different advertising campaigns and anything earned in trading is exchanged to altcoins and sent to their safe wallets of mine.

Quote from: eddie13 on February 17, 2017, 09:46:54 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

Cold on loaded physical bitcoins..

Do you think physical coins are untouchable? one of the downsides of virtual money is the lack of physical form, they're saved(attached) into the private keys.

BingoDog

hero member

Activity: 658

Merit: 505

I use several wallets, never use just one and keep all my coins just at one place. I'm also careful with my passwords, watching out for malwares and similar. I think I'm prety safe but there is always the risk so you have to be very careful with your wallet and your personal data.

chickenado

hero member

Activity: 1036

Merit: 502

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 just hide it in my wallet. And I'm ensuring it daily that my bitcoin wallet is safe. Many hackers can hack wallet but Make sure that your password is not the same in the other site. Because other site is not safe and if they hack that site they can get your password and use it to open your other account in other website.

eddie13

legendary

Activity: 2296

Merit: 2271

BTC or BUST

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

Cold on loaded physical bitcoins..

doomistake

hero member

Activity: 1400

Merit: 571

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

What kind of investment are you going to do with your bitcoin? If you are saying that you are goin to invest your bitcoin in those HYIP sites out there, then you are probably out of your mind, specially if you are going to invest all of your bitcoins there. Investing it on HYIPs is not safe at all, if you truly want your bitcoin to be in the safe place, then I suggest you to save it on a wallet that you are the only one who knows the password and the private key of it, to be sure that your bitcoin is in the "Safe" place.

And I'm just saving my bitcoin on my wallet and not investing it to some HYIPs out there like what you are trying to do, If I'm not mistaken. I'm saving it, holding it and wait until its price go beyond its price limit again, in that way, I could have my profit for being patience on holding this for a long time.

DoublerHunter

hero member

Activity: 2590

Merit: 644

I keep my bitcoins by just storing it on a desktop bitcoin wallet because i don't own a lot of bitcoin just ranging from 2-5 bitcoin and after i reached that amount, i will sell it and deposit my cash in to my bank account and wait for another great buy opportunity for bitcoin. That is just how i store and use my bitcoin. I'm comfortable with desktop wallet because i don't download too much apps and i'm pretty sure that i'm safe.

Seeker#9

full member

Activity: 658

Merit: 102

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.

digaran

copper member

Activity: 1330

Merit: 899

🖤😏

I went on bitaddress.org and immediately disconnected my internet and generated an address offline I deposit my long term holdings in there while I have printed both add and private key in a paper.

requester

sr. member

Activity: 280

Merit: 250

as you had talked about 5 10 years , well that's a very long duration and i think storing your bitcoin in paper wallet will be the safest. otherwise you can adopt blockchain wallet also but dont share your public key with anyone as they could brute force in future by knowing the wallet's available amount. so why should we take the risk go for paper wallet.

LEEMEEGO

sr. member

Activity: 448

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

i strongly advice not to store your bitcoins in a single wallet especially in an online wallet.. since it is risky. some third parties are also subjected to breached so just please be careful in storing big amounts. you can disperse them on a multiple wallet.. atleast if one wallet will be hacked or breached, you will never lose all of your coins.. in addition, you can try hardware wallet for more secure storage..

Amph

legendary

Activity: 3248

Merit: 1072

deep cold storage is the only option if you have a large amount of coins, it's mean securing the coins from real life thief too not only online hackers

i generally like more the usb stick where i directly store the wallet.dat, and own many of those usb in case of a failure, then you can put them in anti-magnetic box and bury in some secure area that is only known by you...

paul gatt

hero member

Activity: 896

Merit: 500

to keep Bitcoin, you have two ways: it is used for various kinds of offline, or you can also use the online wallets. however, if you plan to do a job with such a large amount, I recommend taking wallets offline. it will ensure the safety of your money before the risks, such as hackers

ufaiz50

hero member

Activity: 1666

Merit: 502

I keep my bitcoin on site exchanger altcoin because my income through trading and for safety I use google authenticator, I did not really have a lot wallet because I think this way is safe and simple

bravehearth0319

hero member

Activity: 1022

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

Right now, I keep my bitcoin in electrum wallet, and I also have in different exchanges bitcoin balance such as Bittrex, Poloniex, Yobit, Novaexchange, coinexchange, Trading Satoshi, C-cex, There is always balances for every trading platform that I made though its not that a huge amount but a moderate which can be consider. But most of my bitcoin stored in Electrum.

iv4n

legendary

Activity: 3346

Merit: 1191

I have couple wallet's, my main wallet for a long time is xapo. Before everything my bitcoins goes there, and from there I decide to send them in other hardware wallet on saving, if I wish to gamble then in casino, or in exchanger if I wish to have fun with trading or cashing out. For my needs and for bitcoins I earn xapo is solid protected wallet, and I'm satisfied with them.

delliaerd

hero member

Activity: 672

Merit: 500

Quote from: shinratensei_ on February 16, 2017, 06:03:10 PM

I'd like to know what the kind of your coin because every coin has a different method to keep them in the cold storage. But Use the hardware wallet if you are trying to hold bitcoin for some years later. Or the SPV wallet on your desktop to altcoin.

I doubt he will make large investment with alternative coin. Just thinking realistically dude, altcoin is very risky to dust and disappear from the market. Are you don't see if the price of bitcoin increase highly, price of alternative coin indeed go down and drop ? While many people said if the price of Bitcoin will further increase in future. Shinratensei's question only purposed to make his post longer i think. Sorry.

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