How to store an extremely high amount of money in Bitcoin safely ? - page 4.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: SLRman on December 20, 2015, 10:19:36 AM

Okay, Amph

Then tell me please what should I do now.

i don't like paper wallet, and the printer may put at risk their alleged security, and they ar enot that easy to use, i prefer usb pen drive, but many of them

then you can either put them underground in a container, at least 1 meter, or the safe box like the wiki say, but i don't like it too much, because usually thieves search for it, underground seems better if you have a garden or soemthing

vendetahome

hero member

Activity: 658

Merit: 500

i believe the best thing to do would be to create an offline paper wallet and deposit the funds there and hide the wallet somewhere safe at least thats what i did with my bitcoins

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: SLRman on December 20, 2015, 10:31:08 AM

Thanks for the detailed reply, philipma1957 but I wish to keep things offline..

What exactly do you want to protect against?

Are viruses your only concern? If so, a simple, old, offline laptop with electrum 2 is enough.

Are you also concerned about fires or other distasters that might destroy the laptop? If so, you could create encrypted backups of the seed for the offline wallet. Store them via something like shamir's shared secret scheme to only need n out of m parts. That way you can put the backups into several places, e.g. 1 with family, 1 with a very close friend, 1 with a safe deposit box, 2 in secret locations in the woods/mountains only you know about.

SLRman

member

Activity: 100

Merit: 10

Thanks for the detailed reply, philipma1957 but I wish to keep things offline..

Which physical wallet/storage do you think to be the most secure ?

KingW

newbie

Activity: 28

Merit: 0

Purchase a physical wallet and make many backups

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Apple mac mini's are ideal to store huge amounts of bit coins.

Buy a pair 2014 mac mini's

cost = 499 + 499

install latest bitcoin core on one of them.

then use cloning program super duper to clone a few copies to of the hdd

http://www.amazon.com/gp/product/B00APP6694?psc=1&redirect=true&ref_=od_aui_detailpages00

so you have 4 copies of the oem hdd and two mac minis.

put one mac mini with the bitcoin core in a safe deposit box.

keep the other mac mini in your home

keep 2 hdd clones each of the bitcoin core in 2 different bank safe deposit boxes.

So you have 4 clones and an oem hdd on one mac miniof the bitcoin core all in safety depost boxes along with a mac mini at home with no bitcoin core on it.

When you need money go take a clone put it in the dock and use the in home mac mini to boot and use it to withdraw coins.

SLRman

member

Activity: 100

Merit: 10

Okay, Amph

Then tell me please what should I do now.

Amph

legendary

Activity: 3248

Merit: 1070

did you read what you posted?

A simple example of deep cold storage is opening a safe deposit box and putting a USB stick containing an encrypted wallet file in it. The public (sending) addresses can be used any time to send additional bitcoins to the wallet, but spending the bitcoins would require physical access to the box (in addition to knowledge of the encryption password).

it only mean that for deep could storage is expected another layer of additional security, like in the case of usb you put it in a safe box and memorize the security number instead of laying it around on a4 paper, so not even a real life thief could steal it

SLRman

member

Activity: 100

Merit: 10

Klestin,

Why do you think that Trezor is more secure than ChooseCase ? Please explain!

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: SLRman on December 20, 2015, 10:02:48 AM

Their website says it's sold out... I cannot get one.

What's now ?

Then try to get a Trezor which should cost only 99$ and it also compatible with most of the Desktop wallets out there like Electrum and Multibit HD so you won't find any difficulties on using it .
If you want real reviews from people who actually use it (there is plenty), then I'd suggest going to "Service Discussion" section and asking about Trezor wallet .

Klestin

hero member

Activity: 493

Merit: 500

http://www.bitcointrezor.com/ is probably a better fit for your needs than case.

ATguy

sr. member

Activity: 423

Merit: 250

Out of the methods listed, hardware wallets seems most secure to me. The only problem with paper wallets (and I using them as well) is when you actually want to spend it you have to find a secure way to do it (with higher amount of Bitcoins)... so probably importing the private key to hardware wallet anyway

SLRman

member

Activity: 100

Merit: 10

Their website says it's sold out... I cannot get one.

What's now ?

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: SLRman on December 20, 2015, 09:34:47 AM

I've been reading about Deep Cold Storages on wikipedia here: https://en.bitcoin.it/wiki/Cold_storage

It seems to be way more secure than an ordinary Cold Storage as my private key and everything would be stored in a safety deposit box which you must have to be able sending funds out from the wallet. So basically, without that box you can do nothing to the coins being inside my wallet.

I'm looking forward for the safest solution(money doesn't matter) as I need to store serious money safely there.

Thanks for your help...

I'd recommend generating different paper wallets and store different amounts of BTC little bit everywhere , make sure to encrypt the private keys and don't forget the passwords .
But since you said that the money doesn't matter then Case wallet (a hardware wallet) should be good for you : https://choosecase.com/ and it's also considered as the world's most secure and easy-to-use bitcoin wallet

bitsmichel

sr. member

Activity: 518

Merit: 250

Quote from: SLRman on December 20, 2015, 09:34:47 AM

I'm looking forward for the safest solution(money doesn't matter) as I need to store serious money safely there.

I think the safest is a non-desktop, non-mobile solution. All you need is a private key. I recommend looking into multisignature which would require more than one key to send bitcoins on the network. You could get a 2-of-3 wallets, which means you need at least two keys out of the three keys generated.

SLRman

member

Activity: 100

Merit: 10

I've been reading about Deep Cold Storages on wikipedia here: https://en.bitcoin.it/wiki/Cold_storage

It seems to be way more secure than an ordinary Cold Storage as my private key and everything would be stored in a safety deposit box which you must have to be able sending funds out from the wallet. So basically, without that box you can do nothing to the coins being inside my wallet.

I'm looking forward for the safest solution(money doesn't matter) as I need to store serious money safely there.

Thanks for your help...

Topic: How to store an extremely high amount of money in Bitcoin safely ? - page 4. (Read 3001 times)