Topic: How would you store >100 Bitcoins? - page 7. (Read 42320 times)

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I would simple put in blockchain wallet. well no i use coinbase also because it doesn't have transaction fees and transaction is instant. but for 100 bitcoin i can't take risk as 3rd party have some sort of access to our private key as it is not totally anonymous so i can't take risk with 3rd parllet. blockchainis the solution for me.
With simply wallet to store my bitcoin in my wallet I will made export my private key also and also will make backup to make sure that I can easily access my wallet if any problem comes against my .
And a big thing that I will make that I will never store any backup phrase and private key in any online place .
I will just print out at paper and will put in my locker of bank .

I will simply buy my own hardware wallet and will store all of them there. And also I will try to put some of them on a local exchange and will play that amount with trading. It's not that bad to play with a small amount of bitcoins if you got tons of it to store.

Buy a hardware wallet to store your precious Bitcoins, I personally have and like the Ledger Nano S very much.

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.

The obvious thing to do is to diversify. This applies to any risk management plan.

If you invest in several high risk investments but each only with a small amount, then you are likely to get at least returns from one of the investments, instead of getting stuck on say, one really bad investment.

Same with storage of bitcoins, you could store 25% of your coins in paper wallet, 25% in a trezor, 25% in a bank safe with physical bitcoins made by several companies like titan, 5% online exchanges, 5% in an online private key, and 15% in an online wallet service like Coinbase.

Just a demonstration of what you could do, the ratios of funds distribution can obviously be altered to fit your own personal risk profile.

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I travel, so I would like to have access to BTC when on the road (never know), but I want security as well.

So I compromise.  I have two web wallets, two wallets on my PCs and three hardware wallet devices (Trezor, Ledger Nano and Digital Bitbox -- that last one I am just starting to learn).  I have one on my mobile, but I don't use it much because it is unpredictable (for me).

One or more hardware wallets is probably best if you plan on cold storage of a significant amount (say, 5 or more) of BTC.

How about in a single wallet like mycelium, create different HD account and in every account use different default address and divide your bitcoin for each address, is that safe or not? Activate 2FA and masterseed and back up.

Rather than holding those big amount in just two paper wallets it's good to diversify and place in at least 10 online wallets. Because people at some point if they earn good through day job easily will forget about the paper wallets. So for access anywhere option it's good to diversify and save in online wallets enabling the increased security features.

But its more better if we are going to make multiple wallets than just having one if we are going to store bitcoin this big, and also, blockchain is not that safe at all, because it is been already hacked by professional hackers and just stole millions of dollar worth of bitcoin, that is why making more wallets assure you that your bitcoins are safe.

Though you need to save the passwords and username and other important details of your wallet into a place that you only knows, in your Computer or even in your phone, just don't tell anybody where you hid it, especially the private key.

10 bitcoin is also a large amount if you can keep it for longer.

I would store my coins in two different paper wallets. Creating a large number of wallets, and dividing the holdings is not a good idea as far as I am concerned. It is difficult to manage so many different wallets, and a large number of addresses mean an increased risk of wallet hacking. BTW I would love to have BTC100 with me... but right now, I am having less than 10% of that amount.

One hardware wallet like TREZOR that has the majority of my assests and one mobile one with a smaller amount just for daily use.

Haha that's definitely true! It is a pretty interesting edge case though since the value doesn't perfectly reflect the amount stored on it. As the price of BTC goes down usually their BTC value will increase, but as BTC goes up, the premium over face value people are willing to pay has tended to go down. I like to think of it as a hedge. Plus they're pretty to look at which is nice! 

If you already know that exchanges can mess up big time, and are not a safe way of storing coins, then why do you even mention to store it there? Doesn't really make sense. No matter how big or trustworthy an exchange is, offline cold storage where you are the only entity holding the private keys is the only way to go. Better safe than sorry, right?



Casascius coins are basically doing the same as what a paper wallet does, but the difference here is that the private key is sticked to something a bit more good looking.

Well, you will not find many people who holds that much bitcoin with them, only a handful exists. However, diversity is the key to safety here. First and foremost thing you need is more than one bitcoin wallet in more than one computer. Secondly, use online accounts for small balances. Use more wallets and keep small amount of bitcoins in each wallet.

If you keep 100 bitcoins in a single wallet, then you are exposed to a huge risk. Hence use as much bitcoin wallets you can in different computers to keep your bitcoins safe and secure from the greedy paws of hackers.

I would buy a few Casascius coins, a few Trezors, and then a few paper wallets and store them in multiple locations. It's possible to diversify your crypto even if you want to stay in crypto. 

You defeintely should split it into about 10BTC wallets.
Then i'd store them in a Mix made off Hardware Wallets, Paper wallets and 1 Hot Wallet + 1 Cold wallet to send/recieve from Hot Wallet.
Best would be to encrypt any Papyer-/Hardwarewallets with a password only you know..
Maybe use a sentence or anything you can keep in your head for a lot of years.. Then just hash it.. and thats your password..
In case of any EMP/House Fire you should be able to recover those addresses if you keep your seed safe.

If I had to store one hundred Bitcoins, I would place them inside a paper wallet attached to a microchip with a small cord going out from it. Once I placed the coins into a paper wallet, I would put the paper wallet and its accessories inside an airtight aluminum sphere while attaching the microchip cord from within the sphere to the outside microchip of the aluminum sphere then launch the sphere to space. The sphere should rotate among the orbit of the earth while keeping the paperwallet safe, plus if anyone finds it then they would get a one hundred Bitcoin worth reward.

If I ever needed to get my Bitcoins back and nobody gotten them yet then I would use one of my personal NASA buddies and use a high-power laserbeam to transmit the data from my aluminum sphere to beam back data into my data chip placed in my computer that is attached to the NASA laserbeam via USB, then I could use the Bitcoins and exchange some BTC to regular fiat and pay NASA to triangulate the data from the beam to the computer -properly calculate the distance of travel between (x time + a distance) then the NASA workers will retrieve the aluminum sphere that was tracked down and celebrate with a single Bitcoin because we haven't interfered with the airspace regulations and also because a single Bitcoin is worth 20 billion dollars.

How about you?

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.

The OP was asking about storing 100 bitcoin and not converting it into fiat. I am not sure anyone would want to store their coins online as you have many options to have more control over your coins. Having a hardware wallet is one option i would choose if am storing a large amount of coins.