How to securely buy and hold onto bitcoin...? - page 3.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Go to the right exchange, one with some regulation and insurance like Gemini. Make sure you're using Authenticator based 2FA on it and not phone based.

If you're not planning on spending often then create a paper wallet on a computer that'll never see the internet again. Job done.

Quote from: Avity on October 09, 2017, 03:28:57 PM

Thank you all for your answers.

I tried looking for a way to do a paper wallet on bitcoin.org but I couldn't find anything. How do I know if the paper wallet I am generating on a site is legit?

bitaddress.org is the place to make a paper wallet, or download it from here - https://github.com/pointbiz/bitaddress.org

Do some test wallets with small amounts until you're comfortable with it. I've made loads with bitaddress. They all worked fine.

plurred12

newbie

Activity: 28

Merit: 0

Quote from: Avity on October 08, 2017, 04:33:11 PM

I have heard of many people and companies having their bitcoins lost or stolen.

That being said:
What is the safest way to buy and store bitcoin?

Thank you

The safest way upon buying bitcoin at the exchange flatforms transfer it right away to a secure wallet either offline or paper wallet it depends which you prefer yo avoid loosing your bitcoin holdings.

Avity

member

Activity: 112

Merit: 10

Thank you all for your answers.

I tried looking for a way to do a paper wallet on bitcoin.org but I couldn't find anything. How do I know if the paper wallet I am generating on a site is legit?

Kprawn

legendary

Activity: 1904

Merit: 1074

You should try and find one of the regulated exchanges {those that adhere to the KYC/AML regulations} and use that to buy

some bitcoins. {Doing it this way, will reduce the risk} To reduce the risk even further, you should transfer those coins to

some kind of cold storage. {paper wallets or hardware wallets} These regulated exchanges can get hacked and you also need

to move those coins to a storage method, where you have sole control over your private keys. Wink

ahmad21

sr. member

Activity: 672

Merit: 271

Quote from: Opquar on October 09, 2017, 09:36:50 AM

First step would be finding a reputable exchange. Look some up in your country and make sure it's legit. You could also try localbitcoins but that's a little riskier.

Next, I would recommend you create a wallet with Electrum. It's secure, you control your private keys, and you control the fee you want to pay for transactions.

Lastly, look up some rules for cybersecurity in the internet. This includes basics like getting an antivirus, don't click on shady ads, etc. Also, don't fall for scams. Familiarize yourself with the common ones as they all pretty much follow the same pattern.

There is nothing like safe exchange. Exchanges are the worst place to hold up your bitcoins. You must go for bitcoin core wallet. This is the best and the most safest way. Generate a private key and transfer bitcoins easily.

hitrawal91

full member

Activity: 462

Merit: 101

BitcoinSN - The Real Bitcoin!!!

Quote from: Avity on October 08, 2017, 04:33:11 PM

I have heard of many people and companies having their bitcoins lost or stolen.

That being said:
What is the safest way to buy and store bitcoin?

Thank you

Yes even i came to know about lost of bitcoins, that can be avoided if you keep the private keys in a safe place and see that you don't share it with anybody. There are many ways or you can say many wallets and place's where you can store your bitcoin with Tighter security. I have used Coinbase.com, Unocoin, Trezor and zebpay app for storing bitcoins. I recommend coinbase and Trezor which is highly secured one and biggest one for a newbie to try. I am using Unocoin and Zebpay for exchanging bitcoins with my local currency (INDIA-INR) at lowest commissions and fees.

Opquar

sr. member

Activity: 385

Merit: 250

First step would be finding a reputable exchange. Look some up in your country and make sure it's legit. You could also try localbitcoins but that's a little riskier.

Next, I would recommend you create a wallet with Electrum. It's secure, you control your private keys, and you control the fee you want to pay for transactions.

Lastly, look up some rules for cybersecurity in the internet. This includes basics like getting an antivirus, don't click on shady ads, etc. Also, don't fall for scams. Familiarize yourself with the common ones as they all pretty much follow the same pattern.

mrfaith01

full member

Activity: 179

Merit: 100

To secure your bitcoin you should only trade to legit site...so how do you know if the site is legit...make some review in that site...do some research and ask for some feedback

rarkenin

hero member

Activity: 784

Merit: 500

Quote from: Avity on October 08, 2017, 04:33:11 PM

I have heard of many people and companies having their bitcoins lost or stolen.

That being said:
What is the safest way to buy and store bitcoin?

Thank you

There is no perfect answer to this question.Always use hardware wallets to store your first bitcoin.Affording 120$ for this device will protect your bitcoin from any kind of attack. Better safe than sorry.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: Avity on October 08, 2017, 04:33:11 PM

I have heard of many people and companies having their bitcoins lost or stolen.

That being said:
What is the safest way to buy and store bitcoin?

Thank you

Use an exchange, a reputable one which has a relatively large volume, long history, and active users with a fair amount of reviews supporting the platform. Once you own the Bitcoin, move it to a wallet only you own, typically this means a desktop wallet or some other kind of wallet you have complete control and selection over. Now, moving on from that, the security becomes completely in your own hands once you have it in a "secure" location. There will be no saving your assets if you lose them without backups.

TheGodson

full member

Activity: 390

Merit: 163

I would try coinbase.com. It is easier for newer members and isn't confusing. (I would post a referral link, but apparently that's spam. Roll Eyes

) There are also other exchanges where you can buy bitcoin. It is best, after purchasing these bitcoin, to place inside cold storage. I personally like my bitcoins in paper wallets for the most part. Keep your private keys in a safe place and don't share them with anybody.

To generate private keys, I would use bitcoinaddress.com. Basically it is a website that generates private keys for you. I checked the website on scamadvisor and it says the site is trusted and that was enough for me at least.

To find ways to earn more bitcoin that you can store away safely go to earnthosebitcoin.com

There are also countless of Youtube videos to watch, but be careful. Some people on YouTube don't know what they are talking about. Always be careful and do your research.

Bitcoin.org will tell you a lot of things that you don't know about Bitcoin and how it works. GL

Ranked to most safe to least safe way to store your Bitcoin is as follows:
Paper Wallet > Hardware Wallet > Online Wallet > Exchange

Of course there are caveats to each, but use your discretion and pick the one that suits closest to your needs.

Avity

member

Activity: 112

Merit: 10

I have heard of many people and companies having their bitcoins lost or stolen.

That being said:
What is the safest way to buy and store bitcoin?

Thank you

Topic: How to securely buy and hold onto bitcoin...? - page 3. (Read 1037 times)