How would you store >100 Bitcoins? - page 8.

deppil

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Quote from: FasTroy on February 17, 2017, 05:01:24 PM

I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their.
But you can find a lot of secure web wallet which the possibility of hacking is too low,
so you can rely on them.

100 BTC of course is a very large number. you have to divide it into several wallets. in order to minimize large losses when the wallet successfully hacked
of course I would make at least 20 purses, by using authentication for all wallets

tribanogrami

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Im so happy to have no such problem like this Cheesy

But i wish

If i have 100 btc. I will exchange to cash 90 btc. Store 10 btc in blockchain. If blockchain cant protect noone can i belive. Blockchain technology is the safest one but like i said i have not such problem about store btc

Blackdeath

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Quote from: FasTroy on February 17, 2017, 05:01:24 PM

I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their.
But you can find a lot of secure web wallet which the possibility of hacking is too low,
so you can rely on them.

I think, you don't need to creat multiple wallets. Blockchain is safe enough to protect your Bitcoins. What is needed is secured your account and maximize your sedurity in order to prevent hacking. I also do turning of emails do when there is a log in attempt, there is no chance that I'm going to approve it since I dom't open my email.

FasTroy

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I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their.
But you can find a lot of secure web wallet which the possibility of hacking is too low,
so you can rely on them.

phr0stbyt3

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Quote from: Sithara007 on February 15, 2017, 05:17:10 AM

BTC100 is worth almost $100,000. So I will not mind spending $100 or $200 in its storage. First of all, I will purchase a brand new computer (one with a basic configuration). I will install the blockchain and create a Bitcoin wallet. Once I have the wallet, I will store the backup of the private key in a brand new USB drive. I will transfer BTC10 to this wallet. Once all the necessary backup is taken, I will format the computer, and reinstall the blockchain. This time, I will create a new wallet address. I will transfer another BTC10 and take the necessary backups. I will repeat this until all of my coins are safely stored.

Wow that's actually a really good idea but won't it take so much time why don't you just convert few of them to altcoins or why don't you just put in some online wallet like coinbase and use the vault system over there which is really secure. I don't disagree with your method but don't you think one mistake can ruin everything so why not just keep it simple.

richardsNY

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Quote from: lite on February 16, 2017, 11:18:40 AM

I would buy 4 hardware wallets and send 20 btc in each and create paper wallet for the rest.

That's what I consider to be overkill as one hardware wallet device is more than enough. I use my Trezor in combination with Multibit to allow myself to have my cold wallet coins stored in several addresses. No problems here. It gives me an ultimate feeling of security as I realize how I have been exposing myself to the risks of malware and stuff before I bought myself an hardware wallet. It will even make you forget about paper wallets.

iv4n

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When you have 100 btc you are a rich person, at this momentum. Best thing to do is always splitting this money on many parts and investing them in all sort of things, and in the end couple wallets with different amounts on them will help to keep what is left. In this case you are provided with security, plus you have money invested and you can expect profit on several places. When you are rich its easy to make more money, when you are poor starting from zero is hard, cause of that you never ask man where he earned his first million.

bitbunnny

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I think everyone who has such large amount of coins must be worried for them. I would probably be very paranoic so I would use multiple wallets, with divided funds. Probably combination of hardware wallet, paper wallet and online wallet but with least of coins in that one. And still I wouldn't sleep tight.

brain_dead

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In a very lazy person, so I'll probably be storing them in a single offline wallet.

Tyrantt

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The first post is brilliant. I'd probably get a few wallet, 5 or 6 and split that sum among those few. Then of, I'd use gold storage, offline but I'd keep one btc or 0.5btc online like blockchain.info just in case I want to buy something or exchange.

Luterwish

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I will distribute them in a few offline wallets and make a backup of those and put it into a secure vault.

Kevin77

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I would create multiple online wallets to store half of my bitcoin on them and store the other half into exchange, like selling bitcoin when the price is high and rebuy it when it goes down, as for why not keeping it in one wallet is to avoided getting tracked and why not use offline wallets just because they are not as safe as the online servers.

Cold storage is the method, I have saved some of my bitcoins, but I was enforced to bring them online when I faced financial emergency. Maybe be still I will save some 10% into cold storage but definitely not all the coins.

lite

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I would buy 4 hardware wallets and send 20 btc in each and create paper wallet for the rest.

severaldetails

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Quote from: rickadone on February 16, 2017, 10:22:08 AM

Quote from: Qartersa on February 16, 2017, 10:10:56 AM

Using multiple wallets will not improve the protection you have over those bitcoins. You would even have higher risks having more wallets than just one.

You are just contradicting what many bitcoiners have been doing so far. Different wallet each with some 2 to 5 bitcoins and different password with multiple back copy in different geo location would be the idea I will follow to protect 100 bitcoins if I will be having. Splitting into multiple addresses and wallet will reduce the risk as far as I understand.

I must agree as well that many wallets are better for storing big amounts.
Of course the risk is higher that one gets compromised, but I think it's easier to live with a loss of a few percent than losing everything.
Paper wallets seem to be the most secure wallet from all I have heared.

DeathAngel

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Multiple paper wallets hidden in various places. Risk management my friend, never keep all your coins on/in one wallet.

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Well, obviously have a cold wallet and find 2-3 trustworthy services to have the cold wallet from. Then open multiple Bitcoin accounts inside each service and split your coins evenly between them. If one of your accounts is hacked, you'll only lose a small amount of Bitcoin, and you'll be partially covered in the unlikely event that one of the services is hacked. You also want to make sure that the computer your cold wallet is stored on is very safe. Burglar alarms etc. Plus, hide the file to open the wallet deep in the computer and don't have it on a mobile device.

rickadone

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Quote from: Qartersa on February 16, 2017, 10:10:56 AM

Using multiple wallets will not improve the protection you have over those bitcoins. You would even have higher risks having more wallets than just one.

You are just contradicting what many bitcoiners have been doing so far. Different wallet each with some 2 to 5 bitcoins and different password with multiple back copy in different geo location would be the idea I will follow to protect 100 bitcoins if I will be having. Splitting into multiple addresses and wallet will reduce the risk as far as I understand.

spazzdla

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Quote from: Meuh6879 on August 03, 2014, 07:42:19 AM

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

This, but I would create them on an offline computer.

Qartersa

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Quote from: slapper on February 16, 2017, 10:06:38 AM

Quote from: ilovefeetsmell on February 16, 2017, 09:49:29 AM

I would store in my 10 wallets (not literally) then I would divide my bitcoin into 10 to prevent the hackers. If you have only one wallet, It will take all of your bitcoin instantly. You might also have strong security key and a sharp mind to remember all of those security key or the list of security then keep it secretly and safely. Wink

HOw can you create more than 10 wallets? That is very hard and very inconvenient. I have tried this way once I have to say that it is a disaster and you can not barely control the whole 10 wallets at the same time. Therefore, it is much easier to control them if you use a hardware wallet such as Trezor. They are super secure and I doubt that hackers can steal Bitcoin from your wallet since it is offline

I agree with the trezor wallet recomendation. Using multiple wallets will not improve the protection you have over those bitcoins. You would even have higher risks having more wallets than just one. You can always make a cold wallet too. Buy a rasberry pi and make a cold wallet from there, after creating the wallet never ever connect it to the internet ever again. That's more secure, I think.

slapper

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Quote from: ilovefeetsmell on February 16, 2017, 09:49:29 AM

I would store in my 10 wallets (not literally) then I would divide my bitcoin into 10 to prevent the hackers. If you have only one wallet, It will take all of your bitcoin instantly. You might also have strong security key and a sharp mind to remember all of those security key or the list of security then keep it secretly and safely. Wink

HOw can you create more than 10 wallets? That is very hard and very inconvenient. I have tried this way once I have to say that it is a disaster and you can not barely control the whole 10 wallets at the same time. Therefore, it is much easier to control them if you use a hardware wallet such as Trezor. They are super secure and I doubt that hackers can steal Bitcoin from your wallet since it is offline

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