Topic: How to safely store big amounts of BTC? - page 4. (Read 12105 times)
This big amount of btc can be stored in a secured hardware wallet. Just make sure storing or keep safe the phrase whereas you can access or retreive your wallet anytime. Always make a backup of private keys or phrase. Although there are many options of wallet just choose the good feedback and very secured when accessing it.
For large amounts i would never ever trust a hardware wallet, too many people involved who know you will be using it for bitcoin storage.
Best to buy a really old laptop and install an old pre bitcoin OS you got.
Then transfer blockchain data and signed transactions via USB stick to a 2nd laptop that is online but never used for anything else than bitcoin core client.
I think armory also got a good system, but i did not check that out yet.
The good thing about that method is you can use really secure hard disk encryption to lock everything down.
Best to buy a really old laptop and install an old pre bitcoin OS you got.
Then transfer blockchain data and signed transactions via USB stick to a 2nd laptop that is online but never used for anything else than bitcoin core client.
I think armory also got a good system, but i did not check that out yet.
The good thing about that method is you can use really secure hard disk encryption to lock everything down.
It's better to stored huge amount of bitcoin in a different wallet to prptect and to avoid one time loses if the hackers attack. And of course your private keys need to keep safe even need it to print in hard copy and teach to your trusted family member incase of emergency.
If you can afford such an amount on bitcoin then there are so many ways to keep them safe without fear of loosing them one day. I would simply construct a metallic safe box which is rust resistant, keep my private keys in it and then dig to a reasonable depth in my bedroom, hide it there and cast concrete on it. I would not also use more than one hardware wallet.
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What about coinbase? Binance? Has anyone with 2FA had issues with this?
I prefer to use a hardware wallet than to save in coinbase or binance because the exchange can be the next target of the hackers. You need to use one place to store bitcoin especially if you have a large amount of bitcoin, so you don't have to worry about anything bad that might happens. So far, it still safe to use the hardware wallet and I think the price of the hardware wallet is not too expensive depends on the value that you want to save. But although you already save the bitcoin in the hardware wallet, you need to think about where you can keep the hardware and don't say to other people if you have bitcoin on the hardware wallet.
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've stored them on an old laptop, and never connect it online.
The best options to store important amounts of Btc is paper or hardware wallet.
Both are named as cold wallets, as they cannot be hacked via Internet. However, be very careful where you store the private key if you opt for paper wallet instead of hardware wallet.
Both are named as cold wallets, as they cannot be hacked via Internet. However, be very careful where you store the private key if you opt for paper wallet instead of hardware wallet.
The best way to secure your bitcoins is to either use a hardware wallet or a multisignature wallet. Create a seed phrase, write it down, and keep it in a safe place.
Also, if you are storing the funds in a hardware wallet, don’t store all the coins in one device. Instead, distribute your funds into two wallets. But make sure your codes and passphrase are secure in case you lose your wallet.
Also, if you are storing the funds in a hardware wallet, don’t store all the coins in one device. Instead, distribute your funds into two wallets. But make sure your codes and passphrase are secure in case you lose your wallet.
save btc in large quantities I think I should be more careful and alert. because right now a lot of hacker actions are targeting btc. maybe by using wallet hardware like nano ledger and trezzor to be one of the best ways at this time rather than saving on the exchange
While I would love to use my desktop PC to use as hard wallet, theres ledger nano and also trezzor that we can use to store Bitcoins however, I read somewhere that trezor is vulnerable to hacking. I don't know haw it was done but as soon as I read that article, I removed trezor in my list and just opt to ledger nano. Just make sure you don't always take it with you, its very small size and you might misplace it.
Such a large amount of money is not easy to protect. However, if you are really careful, take good security measures and stay away from the scam, the above things are possible.
I never thought that dividing it into multiple wallets because it would make you confused when trading or worse will cause you to lose.
I never thought that dividing it into multiple wallets because it would make you confused when trading or worse will cause you to lose.
First of all, you have to bear it in mind that online wallet will not be an ideal place for such a huge amount of money, I will recommend using an hardware wallet. Example is a ledger hardware wallet. And I think blockchain now have an hardware wallet. These are few you can go for. Overall, I will recommend storing your cryptocurrency on a ledger hardware wallet.
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.
Published by the booming cryptocurrency industry, this industry is still facing certain security challenges and recently, Bleeping Computer reported a dubious issue where hackers (hackers) needed more than 2.3 million wallets.
The attacker received using malware to gain access to the user's email address. Surprisingly, Kaspersky Lab had predicted an attack that would occur later.
- Avoid clicking links that look avoided and interesting. If you see a cryptocurrency website that has HTTP instead of HTTPS in the address bar and looks weird, don't click on it.
- Always follow the original or verified social media account and click on social media links that don't look fake. In fact, to protect your wallet is protected, support to open links on Sosmed for websites that you trust.
- Don't care about the bot on slack. They help to free up your digital currency. Secure your slack channel with Metacert if possible.
- NEVER install the crypto extension in your browser. You should work with a normal user experience to stay safe rather than downloading an extension that will end in regret forever.
Even when you loose your hardware wallet, you can still recover it as long as you still keep your recovery phrase, and I also think that 1 ledger is good enough
maybe by using an offline wallet like nano ledger or trezzor that can secure our assets even with large amounts though. because this might be able to prevent us from attempts of theft and hacking.
I am not a fan of storing your coins into multiple wallets. Tho, storing your seeds into multiple platforms are advisable because that is the only thing that you will need if you lost your wallet.
Ironically bitcoin is created on a digital platform but keeping your seeds offline is the best practice that you could do. If you lived in a first class countries where vaults are pretty common that buying that one might save both of your seeds and hardware wallets
If we are talking about a huge amount of bitcoin safely storage, I will advise you to be a fan of multiple wallets at least two wallets (a hardware and paper wallet) while you save the seeds and the wallets in seperate vaults. Ironically bitcoin is created on a digital platform but keeping your seeds offline is the best practice that you could do. If you lived in a first class countries where vaults are pretty common that buying that one might save both of your seeds and hardware wallets
What about coinbase? Binance? Has anyone with 2FA had issues with this?
I think the very safe wallet to use is a blockhain wallet and we also need to store it offline. I beleive that offline wallet is more safe because there is no way to hacker to trace it. We also need to be more careful on our private keys because there are so many people that lost thier asset becaue of not taking good care of thier private keys.
Blockchain wallet had some problems with phishing. You will never be sure of safety if someone else holds your private keys and that includes exchanges and online wallets.
Man it looks like you have paranoia. Use only one hardware wallet and do not worry 
... Or hold your bitcoins a large exchange that returns funds to users in the case of a hack, but a cold wallet is still safer
... Or hold your bitcoins a large exchange that returns funds to users in the case of a hack, but a cold wallet is still saferYou can never be too careful. A hardware wallet is great but it's also good to have a backup in case it gets damaged and remember to divide your money and keep them in different places.
Man it looks like you have paranoia. Use only one hardware wallet and do not worry ... Or hold your bitcoins a large exchange that returns funds to users in the case of a hack, but a cold wallet is still safer
... Or hold your bitcoins a large exchange that returns funds to users in the case of a hack, but a cold wallet is still safer 
Probably it would be better to distribute currency to different wallets.
I never think its good to distribute in different wallet .If you don't store it securely it might be all your wallet on risk .I am keep saving my btc on blockchain wallet and i have set all the secured level to protect any abnormalities or hacking . Jump to: