Topic: How is the safest of the 'safest ways' to store Bitcoin? (Read 656 times)

The safest way is don't save your private key to your cell phone. use a "watch only" wallet on your cell phone.
If you import your public key to your wallet and use watch only version then there is no problem if your phone gets robbed, they can't access your funds anymore.
And save your private key to a piece of paper and keep it safe somewhere else. when you want to transact, only that time use your private key, better you could make offline transaction to confirm the best security.

I think that I will not say anything new if I offer a regular cold wallet. Or two? Or three? I also think that bitcoins should not be stored in one place or one wallet because there is a banal human factor and should not be underestimated. Suffice it to recall a guy who is still looking for his old laptop beech in landfills, on which, at today's prices, there are about 220 million pounds worth of bitcoins. In order not to go crazy from such upheavals in life, it is worth thinking about safety in advance.

Well, you certainly have. Point. But I think it is a must to be creative in thinking of ways on how to store passwords that is not susceptible to be stolen, whether it is online or on a personal safe space.


This could be a way, having some codes or unique type of writing that you are the only one who could understand. You just have to make sure it won’t be forgotten, won’t fade or be tampered.

Sharing your private keys means your share your all wealth and it looks not right if this done with our friends but we can be able to do this on our own family e.g mother, father, brother, sister, son, daughter because we are related to them. It is recommended just in case bad thing can happen to you but before we get to that point lets first start on securing the btc on our own by choosing the wallet that is trusted, brands like trezor and ledger are good.

While I do not recommend password storage because they can steal your password. a secure connection means do not use public connections like wifi and lastly backing up and updating software is more important.

IDR 5.8M is about 11 BTC at the current rate, it may look big, maybe the victim has activities as a trader who needs funds always available on the exchange.
The victim did not do what you mentioned, he had a robbery and one of the robbers was a former employee who was very likely to find out that the victim owned BTC and threatened to need the victim's wife so as to provide the password from his account. Luckily the perpetrator has been caught just not explained whether BTC can return to the victim.

The point is always be careful with the device we use as a place to store crypto assets, Anything can happen but we can reduce the risk of loss by using tight security, although in this case account security is not the point.

Glad to know you’re learning here. You are right, never ever share and entrust your private keys to anyone. Nowadays, you’ll never know the true intentions of those around you, especially if the said matter concerns and involves monetary or any type of asset. Moreover, you should also take note that safekeeping also includes the choice of wallet, password storage, secure connection, software and back up systems.

how to store bitcoins safely, first of all hide your identity, don't let anyone know if you have bitcoins, even you have to hide your bitcoins from your own close friends, everyone must have a separate wallet that they trust to store bitcoins, some use a wallet hard, some use hot wallets, some use cold walls, I also back up all wallet files, to be aware of computer failures.

I never actually had any significant amount of Bitcoin, thus, I mostly used online services such as Blockchain.com and BitGo, without any issues at all. After reading more about wallets and safety measures, here on the forum, I refrained from using online services and downloaded Electrum on my laptop. It's a decent choice, but not the best one nonetheless, since the computer has access to the internet, and whatever goes by it.

However, I see a lot of other people posting that they are using wallets on their smartphones, which struck me, because I don't see the reason. Phones are vulnerable to theft and phising attempts through public networks and so on.

There are cases like that before where the suspects are related to the victim because they know when to attack or lets assume that is not the case but there are also robbers that are highly intelligent and they have been using bitcoin before. They have done online crimes apart from face to face crimes.

At the end of the day, bitcoins are only a kind of money that we can still be earned but not our life once it is lost. If we are on that dangerous situation, we are also going to do the same which is to surrender our bitcoins into the criminals hands and let us not worry because bad karma will still follow those people .

There are a couple of things we can do and I am guessing this attack might be informed as in, someone knows the victims had Bitcoin that is worth something because I don't think it was random hence the need to keep quiet about your cryptocurrency HODLing in the first place.
Another thing is that you can have a separate smartphone you don't take around for your crypto transactions if you are going to install all the wallets and apps in there and most especially if you have such amount of Bitcoin is to store on a Hardware wallet. Though it is almost impossible if such attacks happen for you not to give out the info cos of the safety of your loved ones.

If you want a platform that very secured to store bitcoin then you should rely with those have two factor authenticator and KYC and of course which most reliable and trustworthy nowadays such popular exchanges or wallet to ensure everything will be fine. Because to be honest there's a lot of scammers and hackers nowadays so the only way to secure our funds is to rely on those platform that has what I've mentioned above..

This question is very old and my answer will still be the same, I always hold my own private key, and will never tell anyone about the key I have, because if other people know about my private key, it's definitely bitcoin what I have will be easy to hack, I always use a hard wallet, because I hold bitcoin for a long time.

Splitting up your coins can be done here, like, keeping half of you coin in your cellphone and the rest in a separate wallet, could be a paper or hardware wallet.
You can as well tell a member of your family you trust very well about you key's.
ADVICE:Avoid third parties,ensure all of your coins are in your wallet, they might not be of higher security as well.

There are a lot of wallets available in the market and one of it is the hardware wallet which i think is the safest one to use. But it depends on your own preference as every user has its own set standards. You can read it here.. https://e-cryptonews.com/what-are-the-safest-ways-to-store-bitcoins-in-2021/

However, even if you have the safest wallet to store your bitcoin, if you are not responsible from making it safe and secure at all times, then you will still lose everything you have in your wallet.

It is ideal if you are using a wallet which is the use of the full potential by the owner its not ideal to use a wallet like you cannot handle most of the transactions you made such as fees, and other security features. The alternate device you are talking about is the hardware wallet such as ledger, trezor etc. Currently, im using a trezor which is ideal to use but if you don't have a budget yet there's an application to use such as the electrum they have their executable file and apk too.

what if it turns out that the robbery was carried out by the closest person you know, who is often a place to share your story?

not all banks provide personal vault.

All most half of bitcoin users secure their wallet on smartphone and computers which is very easy for thief to access the wallet, if not properly secured. The best way to secure your wallet is having alternative devices where you can keep you wallet safe and your private key and don't keep the devices with you maybe you can keep it in bank.

You can simply print the wallet if you store the crypto in cold storage wallet.

Ask me how not to loose your bitcoins or ether specially when you are storing them on hardware wallet. I have already lost my money after I lost nano ledger.  I had the memonic phrase and stuff but I failed to recover the dam god money.

Forum members did help me in recovering the same via multiple ways but once you loose the key points while saving the important information then you are done forever.

Now the incidence above is associated with robbery so I can tel one thing here, you just have crypto, own it and keep the mouth shut about it. That’s all.

This is right or actually true on which you shouldnt really be boastful  on what you are owning when it comes to your crypto holdings because this would be also the reason on why people do being attacked and the rest is pretty basic when it comes to cold or hardware wallets.It is just really needing some sort of knowledge on how to make yourself be safe
on potential loss of assets but you should bare in mind about the word "safe" doesnt really exist out.

You are right about that. I remember the other post about how some people now save their Crypto access info in a Nucle type security vault, I also remember my opinion to that post was just like what you said here about keeping quiet about the number of cryptocurrencies you have which I believe is the most security you need other than the other obvious of also securing your Private keys and passwords. I do believe if people don't know about your Holding you are less likely to be attacked.   

This is exactly why you should keep very little money on your cellphone in hot wallets and the majority of it should be stored in wallets such as hardware wallets ( trezor and cold cards tend to be the most recommended) or if you know how to properly establish them paper wallets (though extreme care should be taken when creating these types of wallets).

Nowadays, most people really mainly use their mobile phones to install apps related about their finances. Apps such as digital banking, investment, trading, NFTs and the likes are now usually stored in a mobile device. This is because it is more convenient to have it stored in a portable device that you could take with you anywhere and anytime. This is really beneficial because you could access your accounts wherever and whenever you are. You could easily monitor the flow of your funds: deposit and withdrawal, in a snap of your fingers. However, this has its risks too.

Despite having the convenience as an advantage. Mobile phones being mainly used for your finances possess disadvantages too. Mobile devices could be easily stolen by someone. It could be misplaced and never be found again. And it could be broken in just a snap as well because of accidents and the likes. Hence, if you store all of the finances related things in your mobile device, you are also putting at risk the funds you worked hard for. This is why most people prefer to use an additional security aside from pin and pass codes of their phones to make their accounts and funds safer. Most people invest in hardware wallets that could give them the assurance they need in terms of securing their money. These hardware wallets protect the accounts from the hackers because every transaction that would be made would need an authorization and verification on the end of the user's hardware wallet. They have to confirm the transactions first before it push through which makes their accounts in different financial aspects safer compared to those people who don't have one. But this type of security also have its weaknesses of course. The user must still be the one responsible of his actions. If the user would not be careful enough and will be easily deceived by scammers, their funds would still be at risk (if they will give them the information they need such as email, password, and seedphrase).

witcher_sense did a good job explaining how you can use the same hardware wallet, generate multiple different seeds, and keep your coins separated. But it's still not a bad idea to diversify your bags among different brands of HWs. Just in case a catastrophic event happens to one particular wallet that you own.   

That depends. Is it going to stay that small forever or are you planning to increase your stash? If you keep adding new coins on a regular basis and the value of Bitcon keeps rising, you will have much more than you had in the past.

save money on your cellphone or in your wallet, I think it's safe as long as the key is not known by others, my advice is to save the key on paper and put it in the vault, don't save it on your cellphone or laptop because it's connected to the internet, it can be a cellphone or laptop at hacked by irresponsible people.

In my opinion, it is unnecessary to have multiple hardware wallets to store large sums of money, especially if you are holding a lot of shitcoins like censorship-compliant stablecoins, centralized frequently hard forked coins, NFTs, DeFi, etc. It only makes sense to store your savings in the most reliable cryptocurrency that grows slowly, but inevitably, which is bitcoin. But even if you have large sums in the most reputable currency, you don't need to keep it in your hardware wallet all the time. Just set up your wallet, generate a seed, back it up on a piece of paper twice, generate several addresses and fund them with a small amount and then wipe the device. Then take your back up and restore your wallet: if you see your small bitcoins, then you did everything right. The device is safe and ready to be funded with large amounts. Once you sent your coins to the new addresses generated by your device, wipe it again and hide somewhere the backup of your seed. Now you have gotten a free hardware wallet which can be utilized for small everyday transactions unrelated to your main savings. Generate a new seed, repeat the above steps, but this time don't wipe the device. You have saved on buying additional wallets, which means you can purchase even more coins.

If you have a lot of money in crypto it is recommended that you keep them in different wallets. This is for your own security purposes and peace of mind .
Even if you have an hardware wallet, it's again better to have more than one. However it only implies if you have a lot of money. There is no need to buy mutliple hardware wallets if your bank roll is small.

first  - How did the perpetrators knew that the victims has bitcoins (or possible altcoins)? how does some criminals can easily track Him when crypto owning is almost anonymous(if not completely yes)

Second - Why store crypto in His gadgets? when he can use a safest in which that is ledger wallets/offline wallets than he can hide somewhere more safer and not close to him always .

Exactly, cold wallet or hot wallet each one have their own positives and negatives we can't blindly relay on either one. So diversification of money is the most effective answer for that, so we do not risk all money at any crucial point of time. In my opinion keeping more than two wallets is continually safe.

At the moment we use the internet to access our wallets and do some online transactions that bring risks and vulnerability to any form of attacks. That is why we can't find such thing as "The safest way". Hackers will attack us sometimes become unnoticed that can't be detected until the moment that we check our wallet that it was empty already.
What we gonna do is to keep away from accessing untrusted sites, clicking links sends via email, or anything that looks suspicious as this might be lead the scammers to get in and take control of our keys.

Safest to safest way to secure bitcoin is to use cold wallets. These wallets are offline. No any malware attack or phishing attack risk found in cold wallets. It is safest place to store BTC in crypto currency.

I think even though we store bitcoins in linked wallets, other people can't break them unless we give the keys to others, that's the proof now many big investors keep bitcoins in internet connected wallets, but their assets are safe and secure.

Use cold ❄ wallet such as trezor or ledger if you have more Bitcoins..

When you write 📝 your cold wallet recovery seeds, hide your computer 🖥 front and back camera 📸!
Also 📱 smartphone too, hide from both cameras...
It's very important...

Use pasphrasse...

Cut in half your recovery seeds paper 📄

And make copies of that...

Upadete your hardware wallets software...

Stay safe friends

Many thanks for watching

There's no safest way to store bitcoin, any means of storage is already safe. The only problem is the people, because what's the use of a good security if you blabber about your credentials to many people. I stand by that belief that people should be the most responsible in their own security and that they put the safety of their bitcoins into action. That's why it's important to learn digital security now more than ever with everything going digital, I think that it's best course or if not then you can probably limit the technology in your house connected to the Internet.

For now, only a hard wallet is the safest way to store our bitcoin, as long as you have full control over your key, your bitcoin is safe.
There is no safety when we are still connected to the internet, that is why people do prefer also the air-gapped wallet which is a device that doesn't have connected to the internet and that is safe.

That is spent on how you will care for your wallet, even how safe it is it's been always prone to a hack if you are not taking care of your wallet.

I don't think that there is the safest way to store Bitcoin. No one will guarantee that one will be safest enough to save your BTC even in online or offline wallets. Because we know that besides the hardware or software that we are using, there will be also probabilities of human error, making mistakes of sending in wrong wallets, forgetting in saving the data to access the wallet, losing the wallets and others.
Moreover if this is about online wallets, there may be viruses, hackers, scammers, and also other probabilities of losing assets from the online wallets.

Are you sure about this?
Well, it may be very portable to bring our smartphones everywhere and we can check our assets every time as we like by using smartphones. But this is also risky because we don;t know whether the phone will be broken or lost someday, and the assets will be also lost.

if you really have to leave your crypto asset hardware wallet at home, the place must be safe and hidden...

maybe at this time the robbery of crypto assets as above has not been widespread but in the next few years we do not know what will happen to the general public, with the increasing difficulty of making money offline, criminals will target those who have crypto assets, especially if that person often expose own a lot of crypto assets.

It is to see that we are vulnerable to any attack from hackers like sending links and malware leading them to have access to our phone. As we are using the internet these days, it was a sad note that we don't find a way to have the safest and safest place to hide our keys our crypto. As even hardware wallet that most are thinking the best way to hide our coins, it wasn't literally guaranteed safe.

Honestly, there is no safe in using the internet. And that is why I use to convert my crypto into fiat and deposit in the banks, that was the best move, I think.

My initial alternative is a safe wallet for storing assets is a hardwallet where we can leave it at home when traveling and bring enough crypto funds if needed while on vacation, because people already know what crypto is and it is often operated on mobile phones.

Bitcoin is safe in Cold wallets (offline wallets) because no one can access your account through internet and your fund will secure.

You need a big wallet and a small wallet and then you hand over your small wallet

Yet that is safer mate because you don't have to escape from using free wifi when you are out of house.

not like if your wallets are online you are always scared of some hacks happens from your device.

Wow thanks for this, i have not know this if you did not share here.

will check this certainly today if how safe and how to use.

That trick really gives a headache

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I read there is one other best way that can be tried but currently Samsung 2018 product users are free to use it, I don't know if other smartphones have it, i.e. activate the samsung safe folder, move the wallet application into the safe folder and hide the safe folder.

https://www.androidauthority.com/samsung-secure-folder-908758/

Most of the people that stores their cryptocurrencies usually use their phones to access them. Like me every time, I always make use of my smartphone If  I want to send cryptocurrency and my cryptocurrency wallet is also on my smart phone, installed. Maybe for a case like this,  the best you can do is to just also have or create an access to your wallet on your computer that you don’t carry around, and if anything should happen that you lose your smartphone and someone is likely to gain access to your wallet, you can quickly use your computer to access that wallet and lock it or move your funds to a different address or wallet.

Well, this is really a headache. Though I learned a trick from a friend, he taught me a trick that I followed. And the trick is that I didn't connect my wallet to my smartphone all the time. When I needed it, I just connected and used it. Then I disconnected it again. Though it is really frustrating, if I need the security of my money, then I have to do a little work. Despite the fact that I have set my wallet as a watchlist so that I can track all data, I can use it without being connected. in this case, I also carry my seed by 2-3 notes and in a different way so that if someone steals everything, he still can't get access to it. I also use all my seeds in videos as subtitles and audio tracks, which I store online, but it would be tough for others to crack those 24 words of seed. Look, I believe if you want to secure your money, you have to do a little work, but if you do it properly one time, you don't need to do it again and again. That's it. Thank you.

As of now, this is the most secure. I'm not sure if there are any new innovations in storing bitcoin as safely as possible, but I think having it safe while also being able to easily get that bitcoin out is important because some people have difficulty accessing it. Consider the possibility that you have a super secure wallet that you have forgotten how to open. Hardwallet like ledger is the best right now and most recommended, but I believe you could be hacked by it if you are the one who provides it but are unaware, so let us be cautious at all times.

Hardware wallets are indeed the most secure primary storage compared to other storages. Storage in a mobile wallet still has risks, but it will also help to make trades without requiring a lot of verification. some people need quick verification because they trade on every Dex, or trade on an exchange. The most important thing is to always keep your personal wallet safe, and divide each asset into several groups. for the long term, short term and used for trading.

If you keep your bitcoins away from your smartphone or PC/laptop, how do you keep your bitcoins with you on vacation?

in the future when mass adoption occurs we will all definitely pay for anything during our vacation with bitcoin so it's not storing our bitcoins on smartphones is impossible

For now, it's better not to share your bitcoin ownership with someone you just met, it's much safer and makes you calm

One way to protect from a wrench attack is to keep most of your crypto away from your mobile device or computer, and to place the private key or hardware wallet in a secret location away from your current one that you cannot access during this type of attack.

Another option is to continuously be armed, so that if you meet an intruder, you can just blast him away.

Hardware wallets were the best to secure the holdings. Online wallets can be preferred for limited spending, which means for daily transactions. If the plan is for long term holding, then hardware wallets were the right pick. Even online wallets are secure providing with multiple layers of security which includes recovery phrase, 2FA, e-mail verification. It is upto the usage to go for different wallets. Some used to store on Exchanges as they involve in daily trading. That is a high risk storage in my view.

Non custodial wallets with multi-sig feature would be much better in my opinion if in case these robbers are forcing us to login with our passwords or else they’re gonna do something much more worse.

It’s important that we should not put all of our eggs in one basket. In other words, never put all of your assets in one wallet only. If I were in that situation, I would give out seed phrase of the wallet with many useless shitcoins than the main ones.

Diversification is necessary.

It seems that you are looking for more than a 100% safe assurance in crypto but the sad thing is that we never find a way to keep it to the fullest, we'll all take the risk and the only thing that could help it out will matter on us individually, the way we manage our keys. Kinda not a difficult thing to do but hackers are too smart as well to make track of our keys and might install malware on our computer leading to some leaks and it was the end of our day, a nightmare it could be. No other thing to do but to be careful when accessing sites and a lot of people looks good and they might be hackers.

Cold storage with multi-sig for the majority of your bitcoin.

Mobile lightning wallets for small amounts, and also many a desktop one for small spending.

One of the main reasons why this happens is we may have spoke some details about cryptocurrencies to our friends and that said friends may have seen you changed drastically or quite a bit because of it. Jealousy is really something we should be aware of because in their times of need they may have chosen you as the target so that they can get access to your wallets. Things like this may have start in our circle because why would the robbers know that you have cypto wallet.
Aside from not telling your friends or family or bragging that you're into crypto is to have a secondary remote wallet on which you store your coins and log out every after transactions so that if times like these happens, you're still secured because the only thing they know is the primary which is always open to your phone.

Agree, everyone has a way of keeping their assets safe, and I prefer to keep my mouth shut that I don't own bitcoins, even to my own family. Because evil does not look at anyone, we will be victims by people who have dark eyes in the sense of wanting to have something by doing all kinds of ways. I think it's one of the safest ways.

A condensed and simplified translation: in short, the perpetrator is the ex-employe of the victim and the perpetrator friend's whose was once all of them had a party together.

Besides storing a bitcoin on a mobile phone isn't recommended, there is another factor that we really need to take into consideration which is privacy about how much money we get. It might be fun that if we had parties and meets someone new and then had the interest to talk about cryptocurrencies, but if the person isn't really trustable or you just knew them, it's better to keep your mouth shut.

I agree with this statement. Like what most people had advice when asking for security in storing BTCs, the answer would always be to avoid storing them into centralized or local exchanges being offered. While they may be the most convenient way of storing your BTCs as it can be easily downloaded from our respective smartphones due to its convenience, the level of security may be relatively weaker compared if you store them inside a hardware wallet.

In addition to this, never tell anyone about your private keys; in fact if it is possible, avoid telling strangers that you do own some BTC to avoid getting tracked down.

Cold storage and offline wallets are safest way to store Bitcoin because no one can access your account and make their transaction.

If we have many assets, I will not stor them in only smartphone. I will prefer to buy hardware wallet. Every storing ways has risk but at keast hardware or cold wallets have lower risks.
But we must be also careful in storing the data like phrade, password or PIN to access the wallet.
But if we only have small assets and they are tradable, I will prefer to save it on reputable top exchanges and trading them. And withdrawing to fiats once getting profits.
Btw imo, there is no guarantee of the safest ways of storing.
Make akways secret, never trust anyone and ket them know the important data

Remain low profile.

Don't talk with anyone about what you've been doing and if you have bitcoin. Although sometimes it's unavoidable when serious questions come to ask you what you've been doing and if you're into bitcoin.

As much as you can, remain low key and tell only it to the people whom you trust. There's the reminder even long before about the $5 wrench attack and that's one of the ways to avoid them.

A safer way is to store your digital assets in some ledger or Trezor wallet and keep it at some safe and unknown place where no one could make even a wild guess about it. Moreover these problems have existed in every age, earlier houses of people were robbed when they had loads of cash, a simple recommendation is to keep a body guard if you think you are so valuable and are at risk of getting robbed.

If you are a millionaire then shouldn't keep your funds on the smartphone. You can keep just a small amount but it shouldn't be big. Its ways are preferable to use a cold or hardware wallet to store your Bitcoin and do not share it with anyone. So even you blackmailed they wouldn't know about your hardware wallet. They could take whatever on their smartphone. We can't prevent sudden incidents or accidents. But we can try to keep safe our funds. Should be more careful about our funds if it's in cryptocurrency. That's why privacy is quite important here and few people always hide their questions related to Bitcoin.

I think it's better the other way around. If there are many cases of theft of digital assets, reduce the storage of asset keys in digital devices that are often used or can be easily found by criminals. And above all, don't be a fool by attracting the attention of criminals.

My country is indeed in the trend of showing off crypto balance on social media. If the victims were in Bali long enough, I'm pretty sure they were one of the activists of the trend so they became the target of robbers.

I imagine if I become a victim then I will do the same thing, which is to give my bitcoins to the perpetrator so that my life and that of my partner are safe. Incidents like this really should be made a lesson for all of us not to store bitcoins in one wallet and not to be too indulgent around us that we have large amounts of bitcoins on our smartphones.

It's true that everyone has their own way of storing Bitcoins safely. I like you choosing to store it in hardware wallets, because that's the safest way
I know right now. But another important thing so that our Bitcoins are truly safe is how we store private keys in a safe place, I usually write private keys
on a piece of paper, then I will save it in a place that is not easy to find and maybe not all my family knows about it. The less people know where we store
our private keys, the more secure it is.

For me personally, the safest storage of cryptocurrency is a cryptocurrency wallet. And for many years the funds have been safe. But I think the safest storage of cryptocurrency will be to store cryptocurrency on cryptocurrency cards, which in the near future may be with every cryptocurrency holder. And it will be very convenient for making financial transactions. And it is also very convenient to store your crypto funds on your own phones. Which you can easily use and pay for goods and services.

For starters if am going to profile these criminals, am thinking the aggregated robbers should be from a younger age group to know of bitcoin and to be stupid enough to get other peoples mobile phones which could be used to track them later on. But thinking about it where on earth would you have time to go through peoples phones during a robbery and go an extra mile to find btc wallets , somehow this is sounding too goo to be true. If this did happen hope they get the perpetrator.

everyone has their own way of storing their bitcoins, some hide their real identity, some use hardware wallets, some hide themselves, and don't show other people that they have bitcoins, because they are afraid there are people who do bad things to them, but I personally store bitcoins using hardware wallets, such as ledger and trezor, to make it easier for me to access bitcoins, this is my safe way to store bitcoins, because in this way I am very sure even though hackers attack my computer, I sure the hacker can't press the button and approve the transaction.

I think the safety and security of someone's wallet really depends on the person. Some people are just not careful. They could have a physical wallet with all the security measures and they would still give away sensitive information to third parties. My advise is, whether you use a software wallet, web wallet or physical wallet, or however you wish to store your coin, you should keep it as secret as possible. Make sure that no info about that wallet is ever connected to the outside world.

That was just merely threat and theft case I see. It's nothing related to the security of funds. Ideally the victims money is still safe in the form of bitcoin as long as they are not disclosing the wallet private keys or pass phrases. These kinda cases are happening all the time throughout the world.

One with the Australian couple was the biggest one where they also called in police and courts to claim back what was their's. However, the case got closed as there were no digital footprints left behind and they were not able to prove that its their money.

The point here is, you just earn, invest, trade or do whatever you like with bitcoin just never disclose to anyone that you are in the possession of Bitcoin. Rest is assured by bitcoin's pseudo-anonymous nature.

This is the main reason I never tell anybody offline that I have Bitcoin or even a Bitcoin wallet. And I would only tell a person from online if I knew and trusted them really well,,, in fact only forum people here I trust even more than anywhere else but I would never expect them to ask me for a wallet in real life. I guess these things spill over anyway and if you had fiat it would be worse.

When the lives of your family members are at risk, it doesn't really matter how you store your coins. What are you going to do? Are you going to tell the robbers I am not giving you my coins, feel free to torture my wife and child?!

If a robber knows about Bitcoin, gets access to your phone, and finds a crypto wallet, he will try to get you to give it to him. The only way you can protect yourself is by not storing all your coins in the same wallet. Diversification is the key. Keep just a portion in a hot wallet (such as a phone), while the rest is safely stored and inaccessible. If you have to give it up, you only give the robbers the keys to your hot wallet. They can't possibly know about the rest if there is no info about it on your phone and if you haven't told someone about it. 

Storage on offline wallets such as paper wallet is one of the safest way to store it and probably writhing the recovery phrase and remove one word or two and remember it for yourself so if people also get that copy they will not be able to access the wallet but of course you should make a lot of copies of it so if someone rob your recovery phrase you have other copy as well.

You have your own choice where you must save your money on smartphones. You do not have to store your digital money like crypto on your smartphones because you have another option to store your crypto in the hardware wallets and keep it in a safe place. If you still want to store your crypto in your smartphones, you should not store it in a big-money because that can prevent criminals rob all of your funds.

People should realize this to prevent criminals from robing our money in our smartphones. We need to think wise and smart to avoid the bad things that can happen to us.

There is nothing anyone can do to stop a physical attack! I mean you could hire bodyguards but that's about it. You could also reduce the amount you would lose in such a scenario by not carrying around all your money in your pocket! That means store your bitcoins in a cold storage stored at home instead of in your phone or even in a hardware wallet that you carry around.
Additionally you should keep your financial situation private and never broadcast it. If the thieves don't know how much money you have, you won't be targeted.

You don't necessarily need to be 100% secretive, but you need to make absolutely damn sure only the right people know that you have bitcoin. Sometimes things can go south even with your blood relatives/family, so you need to choose the closest people that you don't think would screw you over 100%. I mean, you wouldn't want your bitcoin to just disappear if it's the case that you accidentally die or something.

Thank you for all the positive answers given. the conclusion that can be obtained is to remain anonymous in bitcoin ownership, the closest people may turn into a devil when they know you have bitcoin stored on your smartphone

The answer never changed from day one. You need to store your bitcoin a wallet you hold private keys of. (and adding 2fa is always a good thing to do)

And yes, you shouldn't tell everyone that you have bitcoin.

The safest way is to not tell anyone that you have Bitcoin, also make sure that when you send or receive bitcoin, no one knows that you are the owner of those addresses.

The easiest and safest way to store them is a hardware wallet, but we go back to what we said before, if some gangsters know that you have a couple of Bitcoins, it is of little use to have stored them safely, they can torture you until you give them the keys.

To avoid this, you could also use a multisig, so that 2 of 3 signatures are needed to move the Bitcoins, and you only have 1 where you are. This will prevent them from taking the Bitcoin, but it may not stop them from killing you or at least beating you so badly that you have to be hospitalized.

True, how can people know that we have bitcoins, if we tell them ourselves. That's the point. I agree with you. We'd better keep our mouths shut, even to our own families. It's not that we don't trust the family, it's that we don't know what they think. In some cases, it is the people closest to them who become the worst threat.

Exactly if you are forced to give out keys then there is no way you can get it back.Those who have access to the keys will automatically be the owner of funds.There are many ways to safely backup your seed phrase on metal plates and hardware wallets or some other ways but if you give it yourself to someone other this could not be resolved at all.As suggested no need to show off and live low and enjoy it other ways.

Surprisingly the victim hold his Bitcoin worth of IDR 5.8M in centralized exchanges (Binance) and not using a non custodial wallet. Well it will depends on the victim privacy, did he clicked random sites? Publishing/tell anyone about his coins? did he using public WIFI to access Binance? did Binance information breached? we all don't know about it.

IMO the solution you should have separate cellphones, the regularly you use and the one used to hold Bitcoin (air gapped wallet). Gave him some portions of your Bitcoins on your regular cellphones, while you still hold most of your coins on the other cellphone.

This is just like hiding your money underground where nobody can easily access without your permission, of course. And that is where the rub is...your permission can be forcibly taken from you when you are under a knife or a gun is pointing at you or a family member. The only safe way here is not allowing anyone to know that you have Bitcoin or any digital asset. Having a wallet in our smartphone can be risky if there will be someone who will dare to do the unthinkable. Maybe there should be an app that will be hiding our digital wallets and will only show up if there is a command or a password that we can only use when we are doing some transactions. Hope someone will be exploring this option.

This wasn't much of a security problem, rather a lot more of a privacy problem. You can have the most secure device in the entire universe but if you get mugged like this, it wouldn't really matter.

Take a quick read: https://cryptosec.info/wrench-attack/

If they force you to give your keys or Bitcoin, it will be up to you.
That's why the best thing to do is stay quiet as much as possible, you don't need to tell everyone that you own Bitcoin because that will make you a target.

Another thing is even if you will use hardware wallet and you give them access to it like the private keys or your wallet seeds, you will end up getting robbed also.

In the first place im using the bitcoin wallet called Electrum also I add an exodus wallet those wallets are on my computer of course still computer cannot be safe in some instances so I use the mobile application of that platform and then after getting a budget I tried to buy a hardware wallet because it's more secure you have the keys or the seed phrase and no one can get your funds unless you give your hardware wallet. Also, there's a layer of security too like the passwords and authentication.

almost everyone uses a smartphone to transact bitcoin and 90% of users access their assets using a smartphone. So one alternative to keep their assets safe when their smartphone is robbed or robbed by someone, it is necessary to store the spare wallet key address in another place, so that they can re-access and reset quickly to change the address of the existing key.

greetings to all, when I read an online news I was surprised by this news

https://www.cnnindonesia.com/nasional/20211228141520-12-739596/bule-rampok-uang-dan-bitcoin-wn-italia-di-bali-senilai-total-rp58-m

the digital era requires us to save our money on smartphones, now more and more people are traveling with cellphones that contain digital money or even the bitcoins they buy. is there a safe way for us to stay safe from robbers when we have bitcoin assets on our smartphone, thank you