Topic: How would you store >100 Bitcoins? - page 9. (Read 42320 times)
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.
There are no needs for going through all the troubles to store bitcoins in hardware wallets and paper wallets, all you need to do is to create a txt document generate 10 bitcoin addresses and paste each one with private key next to it in the txt file and then send 10 bitcoins to each address.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
That is another way, but I'm not too sure that I will like the idea of my addresses and private keys in a cloud storage since; I always had the impression they are not very safe, besides you can be sure that even if you delete your files they are going to keep a copy of whatever you store it there, so even if the zip file is secured with a password I will not feel safe enough.Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
I made a physical wallet using an NFC chip which holds the Private Keys, it works great. Not sure about the read lifetime though, but since I never read it I think it would be good.
NFC chips are vulnerable to electric shocks(EMP) and remote theft(hijacking).Encrypted with aes 256 should be enough to store in any cloud without worry, it's still military grade encryption standard in today's world and the best way to avoid being hacked is not to become a target in the first place....
#1 DON'T TELL ANYONE YOU OWN 100'S OF BITCOINS
I like the idea of making a list of wallet addresses and their private keys. Instead of storing it on a device that has access to internet, I would just print the list and store it in my safe. I would then back the text file on an offline computer.
There are no needs for going through all the troubles to store bitcoins in hardware wallets and paper wallets, all you need to do is to create a txt document generate 10 bitcoin addresses and paste each one with private key next to it in the txt file and then send 10 bitcoins to each address.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
That is another way, but I'm not too sure that I will like the idea of my addresses and private keys in a cloud storage since; I always had the impression they are not very safe, besides you can be sure that even if you delete your files they are going to keep a copy of whatever you store it there, so even if the zip file is secured with a password I will not feel safe enough.Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
I made a physical wallet using an NFC chip which holds the Private Keys, it works great. Not sure about the read lifetime though, but since I never read it I think it would be good.
NFC chips are vulnerable to electric shocks(EMP) and remote theft(hijacking).Encrypted with aes 256 should be enough to store in any cloud without worry, it's still military grade encryption standard in today's world and the best way to avoid being hacked is not to become a target in the first place....
#1 DON'T TELL ANYONE YOU OWN 100'S OF BITCOINS
I would prefer 10 bitcoins on 10 different online wallets I.e 1 on each and for remaining 90 btc I would use 45 different offline wallets to keep them.
Maybe that method will help you avoid hacker or online wallet sever crashed. But I'm still afraid of being lost those 45 different offline wallets due to some unwanted reasons.
But if I had 100 wallets,I would only save 10 for future and sell 90 of them so that I can buy back at low price.
Thats a good idea if the bitcoin price go down. But when the price rise just after you sold and never down back is a tragedy.
Well that was a good idea to spread bitcoin balance, if untill 45 is too much, you potentially forget the way to open wallet. But it is no problem if you print out the identifier also the key, divide 100 btc on 10 until 20 wallet i think it is not too much because 100 btc is big amount. But I suggest to you to print out or write the identifier and key each wallets to note to avoid losing it.
for me i would like to store 100 bitcoins to 5 different bitcoin wallet accounts. Why? Because i really dont want to get hacked and lost it all at one time if i sored it on one wallet only.Plus that storing big amount in a wallet will not be worthy because you are just getting one feature of a bitcoin wallet,why not explore all wallet and get more features and good uses of your bitcoins
It's about storing coins safely for most likely the long term, so the only feature that people want to make use of is having their digital wallet files secured, and with another bit of software encrypted for extra security. It makes no sense to hop from wallet to wallet in order to make use of different features just for the sake of trying out. Storing just requires one simple feature, and for that you just need one simple wallet client, which in my case is and will always be Bitcoin Core.
Other than a wallet client, you can choose to have your private keys printed on a piece of paper (often referred to as paper wallet) and then laminate it with strong plastic for extra durability. But there are several factors that play an important role here (and also with wallet clients) when it comes to the security at the time you set up everything. Malware forms a massive threat, which is why a lot people seem to have switched to a hardware wallet. In this case it will cost you money to purchase one, but people seem very satisfied afterwards.
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.
I would use strong trezor wallet to store such high volume of bitcoins because you never know that the paper wallet you use was generated in secure environment or not. It is possible for some sites to store secret keys of bitcoin wallets generated using their service so taking such risk is out of question.
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
In my opinion saving the bitcoin for long time as an investment in your wallet is a simple task but if the job of saving bitcoin is for more than 100 btc then it became much complicated for everyone because Here we don't have option to choose most safest way to store in our wallet .I'm looking for real responses and ideas. Please keep the trolling to a minimum
Since I think to put the bitcoin the wallet and then export private key and made backup make the surity that your wallet bitcoin is safely placed in the internet .
But here we have another options to save our private key in a gadget , I find this gadget in the google to save private key , this gadget will look like metle knife which is not affected by anything .
So if you are successful to save your adress private key than you are also able to save more than 100 btc
Recently, I read a very useful topic where the creator was proposing a guide with step-by-step actions it is called 'protocol' an individual can use to protect big amounts of bitcoin like that @OP is asking. I read this carefully and I found it extremely interesting but I didn't implemented it because I had must spent enough money to buy hardware equippment. So but I share it with you for every concerned user and maybe learn some things about security.
There are no needs for going through all the troubles to store bitcoins in hardware wallets and paper wallets, all you need to do is to create a txt document generate 10 bitcoin addresses and paste each one with private key next to it in the txt file and then send 10 bitcoins to each address.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
That is another way, but I'm not too sure that I will like the idea of my addresses and private keys in a cloud storage since; I always had the impression they are not very safe, besides you can be sure that even if you delete your files they are going to keep a copy of whatever you store it there, so even if the zip file is secured with a password I will not feel safe enough.Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
I made a physical wallet using an NFC chip which holds the Private Keys, it works great. Not sure about the read lifetime though, but since I never read it I think it would be good.
NFC chips are vulnerable to electric shocks(EMP) and remote theft(hijacking).Encrypted with aes 256 should be enough to store in any cloud without worry, it's still military grade encryption standard in today's world and the best way to avoid being hacked is not to become a target in the first place....
#1 DON'T TELL ANYONE YOU OWN 100'S OF BITCOINS
I would prefer 10 bitcoins on 10 different online wallets I.e 1 on each and for remaining 90 btc I would use 45 different offline wallets to keep them.
Maybe that method will help you avoid hacker or online wallet sever crashed. But I'm still afraid of being lost those 45 different offline wallets due to some unwanted reasons.
But if I had 100 wallets,I would only save 10 for future and sell 90 of them so that I can buy back at low price.
Thats a good idea if the bitcoin price go down. But when the price rise just after you sold and never down back is a tragedy.
I will store my coins in many places like paper wallet and cold wallet etc. Paper wallet will always with me, for cases like fleeing the country.
1 bitcoin is really big savings and if you are storing those bitcoin in a single wallet it is not a good thing.Better store it in a multiple wallets though it is hard to make bitcoin wallet here in our place, there are a lot of information needed. It must be a one wallet per people they say, but if I have a bitcoin this big, gotta make some wallets with different names.
for me i would like to store 100 bitcoins to 5 different bitcoin wallet accounts. Why? Because i really dont want to get hacked and lost it all at one time if i sored it on one wallet only.Plus that storing big amount in a wallet will not be worthy because you are just getting one feature of a bitcoin wallet,why not explore all wallet and get more features and good uses of your bitcoins
No, do not do that. I advise you to save most of bitcoin in the wallet that completely safe. do not divide and store it in every wallet, because it can make you confused and possibly to be hacked is still high. you better save the most of bitcoin you have in wallet with full sync client. I think this is the kind of wallet that has the highest security.If you wanna explore all wallet just put small amount into each of its.
There are no needs for going through all the troubles to store bitcoins in hardware wallets and paper wallets, all you need to do is to create a txt document generate 10 bitcoin addresses and paste each one with private key next to it in the txt file and then send 10 bitcoins to each address.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
That is another way, but I'm not too sure that I will like the idea of my addresses and private keys in a cloud storage since; I always had the impression they are not very safe, besides you can be sure that even if you delete your files they are going to keep a copy of whatever you store it there, so even if the zip file is secured with a password I will not feel safe enough.Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
I made a physical wallet using an NFC chip which holds the Private Keys, it works great. Not sure about the read lifetime though, but since I never read it I think it would be good.
NFC chips are vulnerable to electric shocks(EMP) and remote theft(hijacking).
for me i would like to store 100 bitcoins to 5 different bitcoin wallet accounts. Why? Because i really dont want to get hacked and lost it all at one time if i sored it on one wallet only.Plus that storing big amount in a wallet will not be worthy because you are just getting one feature of a bitcoin wallet,why not explore all wallet and get more features and good uses of your bitcoins
I will store my coins in many places like paper wallet and cold wallet etc. Paper wallet will always with me, for cases like fleeing the country.
Lol
maybe I would just store a third of them on a web wallet another third on a desktop wallet and lastly a hardware wallet. By doing it this way I know I can't lose all my bitcoins
Why store a third of them on a web wallet? Desktop and hardware wallets are way safer. First of all, web wallet websites are owned by somebody or a corporation. That means there is a possibility of them scamming at any time. Even Blockchain.info can close at any time and have all the money that is found in every wallet there. While this can be happening with web wallets, desktop and hardware ones, unless hacked, cannot be vulnerable to such things. There is also the option of having a paper wallet which is the safest in my opinion: your money is stored on a small piece of paper that's printed offline for security against hackers or keyloggers, and nothing can happen to them.
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
I think instead to go for the offline or cold storage put your bitcoin in the bitcoin adress directly .I'm looking for real responses and ideas. Please keep the trolling to a minimum
I mean store your 4-5 bitcoin in one adress and then export its private key and also make backup of your adress .
After all these work , you need to place your bitcoin private key at a safe place , if you will do the same as I say then you will be able to manage your bitcoin in any amount .And also you will never loss bitcoin due to forget password because private key is your key of handle everything from any best wallet whether you are using blockchain or myscellium .
There are no needs for going through all the troubles to store bitcoins in hardware wallets and paper wallets, all you need to do is to create a txt document generate 10 bitcoin addresses and paste each one with private key next to it in the txt file and then send 10 bitcoins to each address.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
Finally make 3 copies and upload one to cloud storage, print one as a PDF (paper wallet) and save the last one in your hard drive just make sure to put the 2 online versions in a zip file with password.
If you think there is any convenient way then follow that way.
I made a physical wallet using an NFC chip which holds the Private Keys, it works great. Not sure about the read lifetime though, but since I never read it I think it would be good.
NFC chips are vulnerable to electric shocks(EMP) and remote theft(hijacking). 
I will store my coins in many places like paper wallet and cold wallet etc. Paper wallet will always with me, for cases like fleeing the country.
Lol
maybe I would just store a third of them on a web wallet another third on a desktop wallet and lastly a hardware wallet. By doing it this way I know I can't lose all my bitcoins
I will store my coins in many places like paper wallet and cold wallet etc. Paper wallet will always with me, for cases like fleeing the country.
Jump to: