How would you store >100 Bitcoins? - page 6.

Happydd

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Quote from: lecongnhan123 on June 10, 2017, 10:53:58 PM

> 100 BTC? It seems like impossible to me, because I am earning a ltiile Bitcoin so that I think it is impossible to earn 100 BTC Sad

Yeah, it's really impossible for us all, it's too hard to achieve. We participate in signature campaigns and earn small amounts of money, which is difficult to implement.

Happydd

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Quote from: lyth0s on August 03, 2014, 08:40:44 AM

Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

I'm looking for real responses and ideas. Please keep the trolling to a minimum Tongue

It would be great if I own 100 bits of it at the moment, it's enough for me to live in happiness, I can use it to do a lot of other things, and business is a good job if I Having a large amount of capital, I will get a profit easily.

lecongnhan123

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> 100 BTC? It seems like impossible to me, because I am earning a ltiile Bitcoin so that I think it is impossible to earn 100 BTC Sad

GMPoison

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Quote from: ActiveP on June 10, 2017, 05:40:28 PM

Don't keep them on a website. When you do that, you are giving someone else control over your money. The vast majority of stolen coins were from someone else's website.

Control your own coins on your own secured hardware using Bitcoin Core, Armory, Bitcoin Wallet for Android, or offline paper wallets for savings.

Yeah that's definitely rule #1.

ActiveP

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Don't keep them on a website. When you do that, you are giving someone else control over your money. The vast majority of stolen coins were from someone else's website.

Control your own coins on your own secured hardware using Bitcoin Core, Armory, Bitcoin Wallet for Android, or offline paper wallets for savings.

GMPoison

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Quote from: crazyivan on March 08, 2017, 04:24:17 AM

Cold wallet, strictly offline storage. Make a copy of your wallet.dat file on a USB stick and put it in a bank vault.

Hot wallet with 5% of your coins, protected by e-mail, 2FA and secret question.

NEVER send anything from cold wallet to anywhere else besides to the hot wallet. Never use cold wallet for anything else besides communication with hot wallet. Never keep cold wallet on line more then 2 minutes you need to make your transaction.

That should do it.

Would you rather simply keep a wallet.dat on a USB stick in a bank vault, or what would seem like a more secure solution being one of a 2-of-3 multisig wallet keys?

keithers

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I would put the majority in cold storage on a hardware wallet like a trezor. One that you are very comfortable in using the recovery methods if need be. I would only keep 1 or 2 BTC in hot wallets for spending money, unless you transact more heavily than that with BTC.

Given the price of BTC right now 1-2 in a hot wallet should be sufficient money to be able to purchase anything that you would most likely be buying with BTC. Worst case scenario and you get somehow hacked...you lose money, but not life shattering money.

100+ BTC I would spread across multiple hardware wallets.

positivezero

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Quote from: fa on August 03, 2014, 09:17:50 AM

1 wallet. I'm a lazy guy..

well actually i have the same way as you. I only have one wallet to store my bitcoins, small bitcoins rather but it doesn't mean that we are lazy bro Grin

.. In my opinion, why should i create many wallets store bitcoins if i only have small amount to store or keep, and also one wallet is enough for me in keeping my bitcoins safe. Even i have more bitcoins to collect, i rather to have one only wallet to store it.

ekoice

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Quote from: lyth0s on August 03, 2014, 08:40:44 AM

Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

I'm looking for real responses and ideas. Please keep the trolling to a minimum Tongue

I will store 20 BTC each in 5 different wallets.It would be convenient for me.Hope i too would become that much rich in future to follow such precautious methods.

megynacuna

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Quote from: Cryptonite310 on March 24, 2017, 04:06:08 PM

Quote from: sevendust777 on March 08, 2017, 02:25:00 AM

I like this if I have 100 bitcoin Im really rich. I would rather cashout my 50 btc into fiat to enjoy my life, Id like to travel around the world and complete my bucketlist. So, I would like to restore my 50 btc into 5wallets to ensure that it is secured with 2FA for security purposes.

So, you're going to retire and travel the world on $50,000 roughly about that. Doesn't sound like enough to retire off of.

Precisely, that seems so little for a global travel budget. It's nice to have 50BTC but I think you can do well to grow it before you embark on your travel expedition.

avikz

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100 bitcoins is rich and I wish I have that much bitcoin some day in future. But to answer your question, I would say, diversification is the key to keep your bitcoins safe. Definitely a hardware wallet is needed because this is considered to be the best wallet for keeping your biotin secret.

But I would suggest to have more than one wallet. Have some online wallet as well where you can keep a minor portion of your bitcoins. You can use a good mix of online wallets. In trusted and time-tested online wallets, you can keep a good amount of bitcoin and in new wallets, you can keep a small amount. The more wallets you will use, the safer your bitcoins will be.

Cryptonite310

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Quote from: sevendust777 on March 08, 2017, 02:25:00 AM

I like this if I have 100 bitcoin Im really rich. I would rather cashout my 50 btc into fiat to enjoy my life, Id like to travel around the world and complete my bucketlist. So, I would like to restore my 50 btc into 5wallets to ensure that it is secured with 2FA for security purposes.

So, you're going to retire and travel the world on $50,000 roughly about that. Doesn't sound like enough to retire off of.

CrackedLogic

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Quote from: poloniexwhale on February 18, 2017, 12:20:05 AM

Of course you need to store it in your cold wallet, or big exchanges, but it is more dangerous than your local wallet. Website can run away, like mtgox, mintal, cryptsy.

Big Exchanges - No
Cold Wallet - Sort of.

You can't have one cold wallet, well you shouldn't. At least create multiple backups in safe locations as well but not an amount that increases a risk factor of it being an object of theft. In order to store these amounts safely, paper wallets should be made but with small amounts compared to the large lump sum being stored. This allows for something like rededuncy, similiar to something out of a RAID(just not that inexpensive) array.

passivebesiege

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Quote from: dinofelis on March 08, 2017, 05:34:36 AM

Send them to me, I will keep them in a safe place. PM me for an address to send them to Grin

This is the best suggestion I ever heard Grin

. By the way if I'm the one who have it. I will create two wallet that I have the private key and store them both with 40 btc and then use 20 btc for trading purposes so I still have money to exchange to Fiat when needed without touching my stored btc.

Capradina

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Quote from: poloniexwhale on February 18, 2017, 12:20:05 AM

Of course you need to store it in your cold wallet, or big exchanges, but it is more dangerous than your local wallet. Website can run away, like mtgox, mintal, cryptsy.

A very narrow thinking. If indeed we have many bitcoin then it will definitely save that in various places, bitcoin so that the overall number of security and also could secure when there is one of the storage places are exposed to hacking. You need to know that mtgox is not a site like you say, they did find a struck all its customers and to the detriment of mtgox does not at all take money customers. Think carefully

erez_yakir

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use a private disk for every wallet store it at home 3 copies each 5 btc each

dinofelis

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Send them to me, I will keep them in a safe place. PM me for an address to send them to Grin

Luke2939

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Storing bitcoin (even if it less or more than 100 ) should be done with care, I would recommend anyone to diversify into paper wallet and hard ware wallet and also consider using blockchain.info

Try to keep the bitcoin that you are not planning to spend in paper wallet and hard ware wallet. The bitcoins you plan to invest or trade with, you can consider using the blockchain.info site or app.

crazyivan

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Cold wallet, strictly offline storage. Make a copy of your wallet.dat file on a USB stick and put it in a bank vault.

Hot wallet with 5% of your coins, protected by e-mail, 2FA and secret question.

NEVER send anything from cold wallet to anywhere else besides to the hot wallet. Never use cold wallet for anything else besides communication with hot wallet. Never keep cold wallet on line more then 2 minutes you need to make your transaction.

That should do it.

avikz

legendary

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More than 100 bitcoin is a huge amount and never risk keeping all in a single account. I know people will say about offline account because it is considered to be one of the most secure ways to store your bitcoin. However, it is always better to diversify. Never use a single account to store so much bitcoin.

Use a good mix of offline and online accounts. Keep a major portion of your bitcoin in the offline account and keep a minor potion in to two or three online accounts like blockchain or coinbase. This is the only way how you can secure your bitcoins.

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