How do you keep your bitcoins? - page 65.

bravehearth0319

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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

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

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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

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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.

EdenHazard

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Quote from: gandame on February 16, 2017, 10:11:18 PM

I kept my bitcoins at online wallet that I have, but temporarily within a week and I will cash out after. When I have the cash fiat in hand I would love to store it in my saving account at the bank for important and emergency purposes and the remaining btc balance, I’ve use it for loading my mobile phone number for consumption

lol , so you have no plan for future investment in bitcoin? you just get bitcoin - convert it all to cash then use bitcoin a little only for something like mobile phone loads etc, dude you must learn more about bitcoin.

investing your own money to bitcoin and hold it as long as possible, then cash them out later when you really in need, just try it!

ethereumhunter

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i am use multiple wallet and i don't like to store all of my bitcoin in one or more exchanges because if the exchanges get hacked or have maintenance, we can not use our bitcoin to another purpose. i prefer to store my bitcoin in more than two wallet and spread my bitcoin with each of wallet, never use only one wallet to avoid bad thing that will happen.

Zadicar

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Quote from: BitcoinGirl.Club on February 17, 2017, 12:50:12 AM

At the moment am using blockchain.info web wallet because of its popularity but intend on moving to a TREZOR bitcoin wallet which has a solid record of top-notch security,which we should all be looking into.

When it comes to online wallet i would really choose blockchain among other choices because im somehow confident regarding on its security features and you can already keep your private keys which is really great that thing isnt available on most online wallet.

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

At the moment am using blockchain.info web wallet because of its popularity but intend on moving to a TREZOR bitcoin wallet which has a solid record of top-notch security,which we should all be looking into.

Kakmakr

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The best option will be the following :

~ Buy a old second hand computer & printer. < cheapest possible >
~ Download the https://www.bitaddress.org script and copy it on this computer.
< Do not connect this computer to the internet >
~ Run the script and create as many paper wallets as you like < remember to print multiple copies >
~ Laminate these paper wallets to protect them from water damage.
~ Store this in multiple locations. < safe deposit box or safe or in a time capsule under ground >
~ Destroy second hand computer & printer < safest option >

This should be your safest option. ^smile^

coynedterm

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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

In my opinion the exchange sites are not a better or safe place to put your bitcoin for long time , here problem not a single one but there is another some problems also .
first problem is , sometimes the exchange site cease the user account for no long use , so after the deposit of 5 year , when you will came then without loss you will cry .
Secondly it may be possible that any hacker attacks on the exchange and result into the loss of all your deposit , I don't much need to tell for such types of risk of attacks on the exchange , I think everyone here remembered that what was happened during the last year with ETH in about all famouse exchange .
So here it is better that you should keep your bitcoin and altcoin in the wallets for long time safety .

pooya87

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multiple wallets!
mainly you should keep anything large and amounts that you are not using regularly in cold storage such as paper wallet.
then another wallet to be easily accessible and easily used, to keep small amounts. this is called hot wallet for that i use Electrum for it being SPV wallet.

meemiinii

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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

well for me, basically i do store my coins to an online wallet called coins.ph.. this is very convenient for me since they have physical office here in the philippines. incase there will be a problem, i can visit them in their office. so im a bit carefree of my coins since i trusted them. moreover, i also have some of my coins in an exchanger so that i can go on trading then if i gain profit ill send it right away to my coins.ph cause its a bit unsafe to store your coins on a certain exchanger.. you do not know if its still there when you wake up..

Loganota

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Part of my Bitcoins are on Electrum (low quantity for quick use) and most of it is in a paper wallet. There is bit in the poloniex to trade altcoins, always counting on the risks involved.

Lecam

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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 stored my bitcoin in blockchain wallet. Think this is the one of the safest wallet so i choose blockchain. Then some in trading site to roll and to make profit by doing trade in altcoins.

gandame

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I kept my bitcoins at online wallet that I have, but temporarily within a week and I will cash out after. When I have the cash fiat in hand I would love to store it in my saving account at the bank for important and emergency purposes and the remaining btc balance, I’ve use it for loading my mobile phone number for consumption

Zadicar

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Quote from: MicroGuy on February 16, 2017, 09:47:48 PM

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

How do you currently store your coins

Nowadays, they can be safely stored for days or weeks just by spending them. Tongue

He just mentioned that he would keep those bitcoins and speaking of spending then it would be the easiest way as we all know earning would be hard but spending them would be very easy.

There are lots of wallet its either online or offline.

MicroGuy

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

How do you currently store your coins

Nowadays, they can be safely stored for days or weeks just by spending them. Tongue

hardtime

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I wouldn't fully trust putting all of the bitcoins I own into Paxful as that's not the most secure place to leave them in anyway. I personally like the online wallet called BitGo probably because you have control over your private key, 2FA is nice on it, and you can generate as many address to receive as you want and all the old ones work.

BitGo is typically used by the bigger Bitcoin companies in order for them to store their hotwallet coins / customers coins. I would say it's the best option if you're looking for web wallet.

If you don't need to move the coins for a good amount of time you could use a paper wallet which is pretty simple to make.

ar9

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Only answer = hardware wallet.

Research them and pick one. Hard to go wrong.

warwar

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Quote from: aardvark15 on February 16, 2017, 05:24:11 PM

I would not trust an online storage site or an exchange with a large amount of money. I would only put money on an exchange for trading and I would keep some stored separately in a secure location. So the question is what is a secure location? Most people would say an offline paper wallet is the most secure. If you know that no one has the private key, then that probably is the most secure. You would need to make sure you keep the wallet address and private key where you can get to them but they are secure like in a safe deposit box or a safe. As long as you do that, you should be fine.

Then the problem is what happens if you die and you want a beneficiary to have access to the coins. For this situation, you may need to leave instructions on what to do with the keys in a will or in the safe. I have heard of people keeping the public and private keys on a thumb drive, but I have heard that the data may not last forever on those, so a paper wallet is probably best.

If you would invest a pretty big amount then this advice using a paper wallet in your own computer never ever trust an online wallet because even how secure it is there still a chance of being hijacked by people who have interest stealing your money in to your wallet.

crackhawk

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keeping bitcoin at paper wallet is best place, but for me building rig mining is more interesting, i can get money everyday and ofcourse i can sell my hardware as gamer rig too, if not profitable anymore Roll Eyes

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