Topic: How to safely store big amounts of BTC? - page 2. (Read 12101 times)
You just need to have a hardware wallet, that is basic for traders. Only cold storage, remember.
I would use 2 wallets. 75% in one for super cold storage. 25% in the other in case you need to convert to fiat in a jam.
Initialize wallet 1 and write down your seed words. Place wallet and seed words somewhere in a fireproof safe. If possible put 12 words there and 12 in a safe deposit box.
Initialize wallet 2 and write down your seed words. Also, turn off wifi on your computer and make a text file with your seed words. Encrypt this file with a STRONG password youll remember e.g. "$gpg -c myseedwords.txt" save this file 'myseedwords.txt.gpg' to a usb and secure delete the original txt file. Place the seed words and usb stick in a safe fireproof place.
Use wallet 2 to accumulate until you reach a level to deep freeze and send overage to wallet one.
Educate yourself. You will have many thousand reasons to do so now that u are a HODLer. Never stop learning and always put security first.
Initialize wallet 1 and write down your seed words. Place wallet and seed words somewhere in a fireproof safe. If possible put 12 words there and 12 in a safe deposit box.
Initialize wallet 2 and write down your seed words. Also, turn off wifi on your computer and make a text file with your seed words. Encrypt this file with a STRONG password youll remember e.g. "$gpg -c myseedwords.txt" save this file 'myseedwords.txt.gpg' to a usb and secure delete the original txt file. Place the seed words and usb stick in a safe fireproof place.
Use wallet 2 to accumulate until you reach a level to deep freeze and send overage to wallet one.
Educate yourself. You will have many thousand reasons to do so now that u are a HODLer. Never stop learning and always put security first.
In my opinion, you don't need a lot of hardware wallet to store big amounts of BTC. I think one hardware wallet is already more
than enough, save the hardware wallet in the safest place you think. If something happens hardware wallet already has a recovery
procedure, so there's no need to worry if it's broken. If you save in many wallet will be confused to manage, better one but well guarded.
than enough, save the hardware wallet in the safest place you think. If something happens hardware wallet already has a recovery
procedure, so there's no need to worry if it's broken. If you save in many wallet will be confused to manage, better one but well guarded.
For me 1-2 hardware wallets to store any amount of BTCItcoin is good you can recover it if you lost using Passphrase don't forget to backup before storing. Use hardware wallet like trezor or ledger.
I've watch a youtube video before they are recommending to store funds amounting 1000dollar to 1 hardware wallet and to buy another if that amount exceeds. But in my opinion, 1 hardware wallet such as ledger nano is already secured enough for your funds to be keeped fully secured. With these security measures, it will only now rely on us on how we could make our funds even more secured so to store big amount of crypto, we should also store a big amount of responsibility upon us.
For me 1-2 hardware wallets to store any amount of BTCItcoin is good you can recover it if you lost using Passphrase don't forget to backup before storing. Use hardware wallet like trezor or ledger.
Coinbase is one of the best crypto trading platform that offers the secure trading service to the users.
As per as coinbase is playing big role as a legit crypto wallet and i think they have strong security system to protect our assets. But i am not prepare to hold big thing like as 10 BTC or 15 BTC in only one wallet. Actually Coinbase is using as a wallet in crypto banned countries and it's using as a exchange in crypto regulated countries. Hello,
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
The safest way to store a big amount of bitcoin is in US Dollars 🤣🤣🤣🤣 You could store your bitcoin in a hardware wallet, but you will still lose it when the price of bitcoin goes to its intrinsic value of near zero. The only thing that makes bitcoin worth anything is what some greater fool is willing to pay for it, once this market psychology changes, bitcoin will crash faster than you ever thought possible.
I have invested in the wrong side of bubbles, and learned the hard way. Bitcoin was great while the bubble was on the way up, but no one gets something for nothing !!! When the bitcoin bubble pops, you will see just as many people lose everything that got rich on the way up.
The saying " BLINDED BY GREED" exists for a reason, and the people in this forum are the perfect example of this 🙈🙈🙈🙈
Hard Facts
Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
Hardware wallets have recovery seed isn't it? You can just recover it if it somehow been damaged then buy a new one immediately and transfer it all to the next one. There is no need to have a lot of hardware wallets really but maybe you can do fine by 2. You could use the second wallet as a back up in case something might happen to the first one. The one that you need to think about is how to store your recovery seeds which the major rule is to never leave any traces on any digital devices meaning you need to write it in something physical and store it somewhere safe i.e. away from prying eyes and hands. 
If I have a large amount of BTC, I will break it down into many wallets. Each wallet will connect to a separate USB to be able to store key keys safely to prevent hackers from entering
yes storing bitcoin in different wallet is the right thing to do to prevent from losing all your bitcoinHello,
Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?
Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
Hardware wallets are great choices, popular wallets are Ledger Nano S and Trezor. You should not store on exchange or wallet that does not allow you to control private keys. Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?
Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
Two words:
hardware wallet
Really, this can solve a lot of problems
so far the hardware wallet has become one of the best places to hold the funds they have, the most important thing in storing data and also when accessing the wallet must be very careful so as not to experience bad events. and the last is to backup data if neededhardware wallet
Really, this can solve a lot of problems
Two words:
hardware wallet
Really, this can solve a lot of problems
so far the hardware wallet has become one of the best places to hold the funds they have, the most important thing in storing data and also when accessing the wallet must be very careful so as not to experience bad events. and the last is to backup data if needed hardware wallet
Really, this can solve a lot of problems
Two words:
hardware wallet
Really, this can solve a lot of problems
hardware wallet
Really, this can solve a lot of problems
Might you call me old fashioned but the best way to store is on multiple encrypted paper wallets, backed up to a regular old hard drive which you control and encrypt and never expose to the internet. Then back it up a few times over. Even if found, yours keys will be encrypted with a strong password. This way you are relying on nobody but bitcoins native cryptographic algorithm.
I think using many wallet is not good for me For me it is good storing it to any kind of hardware wallet using 1-2 wallet only. Hardware Wallet like Trezor or Legder is good in security so that you can use but I prefer only 1-2 only.
In my opinion 1 wallet is enough to keep your assets safe. I recommend a blockchain wallet because in addition to the high level of security and the occurrence of a scam it is almost impossible because every transaction is stored on the blockchain.
Your level of security consciousness is good but creating many wallet hardware I won't advise, it may still be detrimental so that you won't still end up loosing the protected when the password becomes too numerous.i will suggest you use a maximum of 3, because you may end up confusing yourself the more.
The safest way to store your Bitcoin is to use hardware wallets such as Ledger and Trezor. With hardware wallets, you will always need this hardware to access your Bitcoins, making it safer. And you must also provide physical consent to make transactions. This feature can improve the security, because if there is a hacker who attacks your computer, hackers will not be able to physically press the button on your hardware to give you the approval of the transaction.
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Hello,
Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?
Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
The idea is to store your bitcoin and to be secure not to have lots of laptop, so you have to plan this very carefully,Suppose I would expand my BTC portfolio to 10 or 15 BTC.....how would you store such a big amount of coins?
Ofcourse I would use a hardware wallet, but if I store them all on 1 wallet and I lose the wallet, or the house gets on fire and it burns, then I have lost those coins forever? Or are there still ways to get to the coins somehow in that case?
Would you advise to store let's say 15 BTC on 3 different hardware wallets (5BTC each), or would you spread it out even more? Ofcourse I'm not gonna buy more than max. 3 hardware wallets but in that case maybe 15 different laptop wallets (Electrum, Jaxx, Exodus etc.) with 1BTC each on it is safer?
I'm looking for the safest way to store a big amount of BTC and to minimize the risks of losing a big amount.
- First decide what wallet are you going to use
- Second now you have decided for a wallet how are you going to secure the wallet
- Third What are the different ways to backup the wallet to make sure you will have a backup in-case something bad , and i mean really bad happens
- Fourth look for this features on the wallet that you have selected if they all have the features you are needed
In my opinion 1 wallet is enough to keep your assets safe. I recommend a blockchain wallet because in addition to the high level of security and the occurrence of a scam it is almost impossible because every transaction is stored on the blockchain.
Basically, you can simply store a huge amount of BTC in hardware wallet like ledger because it will be much secured that hackers could not easily get access on your wallet to steal all of your funds. Unlike using online wallets it is not that really secured because no system is safe for hackers when your wallet can be access through online.
Hardware wallet works because it is too hard to hack , but also you need to activate and install anti malware to your PC so that it wi block all those malicious content to control which software you installed in your device. You may try to save some of it in web too, I think it is good if atleast 20% or 30% of it is save in an exchange I think use that btc wallet in an exchange to save your money use 2FA and make your password an alphanumeric one. Jump to: