Topic: How do you securely manage and store your Bitcoin wallets? (Read 245 times)

Sending link about this is not necessary because,  before you signed up here someone linked you. You didn't just discover it yourself,  well even if you did... You will still need to ask questions to be grounded in order not to fall victim.  Asking question is very important and sometimes you will watch those videos and you won't still understand and I see it as a waste of time.  Always ask question is very necessary and it will help,  guide etc,  to know more.

Next time, if you want to make more contributions, you can just go through this board and wallet software board,  a compilation of threads that help newbies on how to safely secure their wallet against scammers, the thread you just share is a minor one compare to the rest where important tips have been discussed.

Don't save your bitcoin on centralized exchanges, online platforms, cloud storage, and anywhere you don't have the private keys or the seed phrase. The reason for this is that, if you don't have your private keys or seed phrase, then you don't own the bitcoin, the custodial platforms can decide to prank you for maintenance and then they run away from that spot, many cases have been discussed.

If you must save your wallet on any place, it should be a hardware wallet. With such simple device, your bitcoin is not connected to the internet, you can have a seed phrase during set up which serve as the main access to your bitcoin and make sure that the seed phrase is properly kept in a safe location inscribe in any metallic plate that can serve as fire resistant. It's as simple as that.

If you can afford to buy a hardware wallet, you should go for passport but  if you can't afford the funds, you can use a cold storage wallet. Electrum wallet is recommended on this, and  all you need to do is to use electrum with Tor on an air-gapped device to generate your seed phrase, so that your seed phrase will not be expose to the internet. Then you can create a watch online wallet that you can use to sign, monitor and broadcast transactions.

Your seed phrase should be written down on a stull plate or paper wallet and back it up in three different locations very far from each other. Don't let anyone to know about your bitcoin holdings but only someone that your trust and keep your seed phrase away from third party.

The best solution is metal steel, and the best is stainless steel, as it has good properties and is low in cost and can be shipped to all countries of the year. Print the table below and you can find the details as explained by LoyceV -----> https://bitcointalksearch.org/topic/100-dots-seed-phrase-backup-5466510


If this is not a suitable option and you want to purchase device tools, you can review it -----> https://blog.lopp.net/metal-bitcoin-seed-storage-stress-test/

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EDIT: You seem trolling, I'll add you to my ignore list.

If you have a hardware wallet and the private key is not stored on your computer or anywhere on any device that is connected to the Internet, you are already much better than 70% of the Crypto users who are invested and keeping their funds in Exchanges that are centralized.

And now comes your responsibility of managing that hardware wallet and keeping your private key secured, for that make sure it's not available at a place where anyone can reach out.
Only you or your wife/parent should know about it.

I prefer writing down my seed phrase in a book, but the main thing starts when I am trying to create a new bItcoin wallet, do it offline always, disconnect all internet and proceed then writebdown your seeds, the only keep you have to worry about from now on is making sure that no man sees the seed with their eyes.

Creating your crypto wallet offline is far safer than anything else, this is the type of crypto wallet that I plan to keep for a very long time, different from the one I use for making daily transactions, I mean such wallets stays online almost every time isn't it? But for long term holding and similar its best if they are generated offline..

I like hardware wallet too, if you have the money it's even the best for crypto beginners and even old crypto investors, make sure to go with brands that are popular and fully open source, they have their own risks as well too but my advice is do your own research.

You are not a beginner, but very likely an alt account and this is a very poor attempt to fish merit - but you reminded me well to leave you feedback

First know that your bitcoin is not stored on the wallet you used, it's being stored on the blockchain, you only makenuse of the wallet to generate and have access to the required keys needed to decode your encoder bitcoin on the blockchain, so you should make use of a 2FA password for your device security, backup your seeds privately, avoid leaving any private keys informations on your device.

And also don't allow people to have access to your device as well, they can't access your device when the device is secured with password, but when they have access to your private keys, they can move out your bitcoin without using your device, not your keys not your coins.

I know out there, many scammers are secretly targeting you to get your bitcoins for free, they do it in various ways until you are careless about security. Therefore, I separate gadgets with wallets inside and gadgets that I use every day for activity. That gadget with the wallet is doesn't need to be good and expensive, the important thing is that you can send received bitcoin without a problem, I just bought a second Laptop for only $100, I bought that especially for the wallet, I just installed fresh linux mint OS and electrum wallet inside, and In my Mobile phone, I use that for monitor only, I just installed electrum watch only wallet in mobile phone.

You can use Multisig wallet too.
Creating a multisig wallet in Electrum.

Checklist for security concerns
How do I secure my bitcoin
How do I choose a wallet
Hot vs Cold wallet
Why is Seed splitting a bad idea
Is it safe to use one seed for all your wallets. This is similar to using one password for all your accounts, very risky.

All of us who deal with Bitcoin and other cryptocurrencies probably know how important wallet security is. If the wallet in which we store our bitcoins is not fully secured then there is a possibility of our bitcoins being hacked or stolen. So whatever is necessary to maintain the security of the wallet must be done. The security system of the wallet especially the 12/24 wordphases should be stored in such a way that they are not lost or stolen. Strong passwords are required to prevent the wallet server from being hacked and you must keep my device secure so that no one can gain access to your device.

How to keep your Bitcoin wallet safe has been discussed a few times before. In every discussion I've seen, many people have commented on this topic in a very nice way, and those comments have been accurate in keeping Bitcoin wallets safe. The first step to secure a Bitcoin wallet is that the user should first use a more secure wallet. If we use a wallet with more security in the initial state, then we do not have to be in a dilemma whether we have selected the right wallet or not. The name of the hardware will come first in the case of results that will give more security, if you do not have the facility to use hardware wallets, there are some mobile wallets that are very secure, you can use those wallets if you want. Another important aspect of keeping your Bitcoin wallet safe is to keep your wallet's personal information and wallet's private key only to yourself and ensure that no one else knows your wallet's private key. If planned and implemented in this way, a user can keep his Bitcoin wallet safe.

Findingnemo gives you a link on how to make a cold storage wallet that is a secure way to store your Bitcoin but for an extra layer, you need to enable extended seed to avoid someone guessing your seed phrase. Having extra words in your seed can protect your wallet from brute-force attacks.

Additional tips you can also use hardware wallets like Trezor or any open-source hardware wallet if you plan to use your funds for daily transactions.

First is to never publish your Bitcoin wallet's seed or recovery phrase on any social media or messaging app where you will message yourself or own account for it.

Someone might snatch your account, hack and gain access from it and from there, you know what's next to happen. The culprit will easily have access to your funds and thanks to your strategy for being ignorant.

There are many ways but I think that's the most important to don't store your keys on cloud spaces or storages or apps that are connected to internet.

Of course the number rule is that you don't share your mnemonic phrase and private key to anyone. Second, buy a hardware wallet to store your bitcoins. And as far as your mnemonic phrase, write it down, make a back-up but don't used your email to store it or cloud or anything that is connected to the internet. Even if it is password protected, hackers are very smart and you just don't know how easy for them to break that password.

And if you wanted to go beyond, you can create an offline wallet: https://electrum.readthedocs.io/en/latest/coldstorage.html.
Or you can read this guide: [Guide] Secure air-gapped crypto wallet storage method

Security's definitely important! The main thing is keeping your private keys and seed phrases safe.  But extra protection like hardware wallets can be smart.  Keeping your wallet software updated and using trusted and reputable ones helps too.  Some folks use a separate device just for crypto stuff and  and you could look into multi-signature setups if you want hardcore security.   

The best way to key your bitcoin wallet safe is to keep the recovery key or private key save from any other person including your dear ones such as close friends and family. It is not everything that people around you must know about you especially as it deals with your asset. We've seen cases where brothers go into battlegrounds simply because of inheritance that has been kept for them to take.

Human beings are selfish by nature and they have this thing within them that motivate or instigate them to go that route so, the best way to avoid somethings is by keeping them private to yourself which includes your seed phrase.

Your private key is so important and delicate to the level that you are advised not to upload it anywhere online in any cloud storage. Instead you should have it stored offline and keep it up to yourself. There are a few ways you can store your private key offline which is through hardware written on paper, through custodial and noncustodial cold wallets.

The custodial wallets are when you allow your exchange company to store the keys for you whereas in noncustodial you do that yourself. The danger in allowing other company's store it for you is once their server or database is hacked into, your asset is probably gone forever but custodial wallets can be of advantage to small and new bitcoin users who have meager resources on their wallet.

On the flip side, the noncustodial wallet is an example of Ledger Nano X which you make use of yourself to take care of your key. Whichever one you do have their advantages of disadvantages but the best is to always have your private key secured in an offline physical storage where you can always access in years time.

The security of your Bitcoin depends on two things private keys/seeds and the device where the wallet is installed.

Keep your recovery seeds safe:

Recovery seed is like a master key for all the addresses in your wallet so you can use it to restore your addresses in case you lose access to your wallet. The most recommended way to store your seed is to write it on paper and store it in a safe place where no one can access it. Also, forum members came up with multiple ideas to keep the seeds

1. Securing Your Seed Phrase with Washers by fillippone.
2. Stainless steel Bitcoin Recovery Seed Plate by willi9974.
3. ColorSEED Or how to simply hide your seed phrase by zasad@.
4. [100 dots] seed phrase backup by LoyceV.

Keep your device safe:

This is a bit tricky and any device that is connected to the internet is prone to be attacked that is why installing a wallet where you will never connect to the internet is the safest choice and it's called an airgapped wallet.

Creating a Cold Storage wallet in Electrum

Since you know how to not share your key with anyone, you should also know that backing up your password is very important, as losing it is also equal to losing competitive access to the wallet. Always write down and save the phrase in a different location where you can always access it when you need it, and not when you lose access to one, you can no longer access the other.
 
Don't save your phrases in any cloud storage, as you can likely lose them to hackers if anything happens to that storage or the hacker gains access to the service provider database.
 
Beware of the type of link you click on in order not to fall victim to phishing links and some sort of malicious attack from hackers, and always use a direct wallet from the wallet provider to avoid cloning a wallet.
 
Don't connect your wallet to an unknown dapp, as they can drain your holdings without your knowledge. Stay safe out there.

Do you actually mean store your Bitcoin hodlings? If so you can make use of offline wallets like hard ware wallets or air gapped wallets.these types of wallets deem to to safer due to the fact that they are not connected to the internet therefore making your assets quite safe from the internet world where most hack and scams occur.
 However I would have dropped a few links of posts on this forum that would be of help to you but I suggest you consider using the forum search button to get necessary resources that would help kick start your Bitcoin journey as it would help you get more familiar with the forum and also prove you really want to get to understand these concepts.
Don't forget to keep your keys safe mate 😁