Topic: How to safely store big amounts of BTC? - page 3. (Read 12101 times)
I have experienced an unpleasant incident, my wallet was hacked, my BTC-reward from a contest article was stolen by someone. It was frustrating even though I had installed multiple security for my wallet and email, but the hacker managed to crack it. I do not know, what mistakes I have done so that my account can be hacked, I finally plan to buy a hardware wallet for better security.
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.
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.
No matter the amount of btc owned, it is of no use to store them in different hardware wallet. It is better to store them in a single hardware wallet and keep the privately or pass phrase in a safe place. It is advisible to duplicate the keys in numerous paper and safely keep the papers in safe locations. With this you can easily recover your assets even if your hardware wallet get destroyed or missing. 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.
Coinbase is one of the best crypto trading platform that offers the secure trading service to the users.
I did not yet tried this platform. But as far as I see the comments and updates regarding with Coinbase, it seems like it is good also. I thought that it was just a wallet who had security features which cannot be intercepted by hackers easily. But in case of storing large amount of BTC I will go for electrum or cold wallets. 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
It is suggested that huge amount you have you need different wallets to store it. you know, hackers are everywhere and they are prepared on this kind doings so better to have secured wallets. but for me I don't store huge amount on crypto I don't risk all what I have in crypto. I know it is hard to transfer every time I want to trade but I prefer to do it than to risk it in any wallets and think anytime that it is possible to hack and disappear.
Yeah, though if it's a really big amount, I'd invest on a couple of hard wallets like ledger nano or trezor. I won't risk my bitcoins by keeping them in online storages even if I have the private keys with me. A determined hacker will find ways around your private keys and though the likelihood is small, I'm not risking them to be taken from me.
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
It is suggested that huge amount you have you need different wallets to store it. you know, hackers are everywhere and they are prepared on this kind doings so better to have secured wallets. but for me I don't store huge amount on crypto I don't risk all what I have in crypto. I know it is hard to transfer every time I want to trade but I prefer to do it than to risk it in any wallets and think anytime that it is possible to hack and disappear.
Coinbase is one of the best crypto trading platform that offers the secure trading service to the users.
Different wallet is better to store big amount BTC but you have to definitely use a hardware wallet and don't worry because you able to recover it.
"Ledger Nano S" is the best i think any amount store will safe here.
"Ledger Nano S" is the best i think any amount store will safe here.
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
Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.
Yes, if I had such an amount I would hold it on different resources partly, of course it is better to use for this the separate device that is not used for different things like Internet or social networks. It is better not to keep the information about your keys or something like that on your gadgets at all and be extremelly attentive while trading. The security of your gadget should be strong enough and it is better to pass through the authentification.
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.
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.
Do you want to just securely store value in Bitcoin or make money on it? I would advise you to try different options using hardware wallets, wallets like Bitcoin core and also use some kind of top exchange. Try different options
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.
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.
To minimize the risks, you can distribute your Bitcoins to different hardware wallets, however, it will be more difficult to manage your asset. I would probably use one wallet for maximum convenience. Just don’t think that you can lose something.
Two should be enough in my opinion. One of storing and one for recovering in case something happens to the first device.
Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.
Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.
Don't use wallets like Jaxx and Exodus, they are not open source, you never know what's going behind the scenes and If they have access to your funds or not.
Store everything in one device, write the seed down in multiple pieces of papers and hide them in different locations. If the hardware wallet gets lose or damaged, you could use the seed to recover your coins.
Yes, if I had such an amount I would hold it on different resources partly, of course it is better to use for this the separate device that is not used for different things like Internet or social networks. It is better not to keep the information about your keys or something like that on your gadgets at all and be extremelly attentive while trading. The security of your gadget should be strong enough and it is better to pass through the authentification.
maybe you can use 3 or 4 hardware wallet and put your bitcoin evenly in the wallet and make sure that the codes or passphrase is secure. Cause if you lose your hardware wallet, you could recover the wallet using the passphrase. And i also suggest to not holding bitcoin for a long time in a wallet. move that bitcoin from one wallet to another periodically. And remember this, never use the public internet to open your wallet, use your private internet
As long as you safe your password and phrase word on hardware wallet, nothing to worry if you loss your devices. You can buy new devices again then restore your own wallet, make sure you already have backup file for it.
Buy a Ledger/Trezor hardware wallet and forget all other online wallets. Write down your hardware wallet's seed/phrase code on several offline papers and never take a picture of those and don't bring them on the internet anyhow! If you lost the wallet then you will have the chance to recover your assets through the seed code in a new hardware wallet. Good Luck.
Using a hardware wallet is the best option for the storage of big amounts of Bitcoin. But if in case you prefer a software wallet, it will be advisable to have about four wallets in order to split your amount of bitcoin in portions. And with the software wallet, using an open source wallet is the best and safest.
I think the problem is not how many wallets you keep big amounts of bitcoin but how you keep the password safe. Many people are careless and don't keep their private keys well which invite hackers into the system. Just be careful with your private key.
Base on my own experience so far, i prefer using Exchange platform to store and saved Bitcoin, mostly when it is more than 1BTC, because most exchange has a strong password, google authorization and OTP (one time password), that is best and reliable exchange to used.
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.
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.
I think how many wallets you storing is not factor. Factor is how well you keeping your wallets key files storing. You can store your BTC in two or more wallets and maybe in soft and hard wallet also but be sure that you encrypted your private keys in safe place. you can also keep your keys in different places but obviously not in Google drive that may hack at any time. So be careful and be safe.
Good day.
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