Topic: Looking for best way to store bitcoin wallet long term (Read 602 times)
For storing bitcoins for the long term it is really important to keep in mind that the bitcoins should be stored in a wallet which never gets HACKED and is not accessible to anyone except the owner. These points are fulfilled by any Hard wallet that is available in the market. You should also keep in mind that even after storing your bitcoins in a hard wallet the main task then would be just to keep the wallet safe. Some of the great hard wallets are Trezor and Ledger. Ledger offers three different types of hard wallets according to the user's needs.
Hello gialinh,
As always we suggest you store your private keys on a hardware wallet such as a Ledger. Using the Ledger in combination with a software wallet such as Electrum is the safest method to store your bitcoins.
You can find the link to buy the Ledger wallet here.
You can find a link to download the Electrum wallet here.
Finally you can find a link how to use the two together here.
With kind regards,
The Anycoin Direct team
As always we suggest you store your private keys on a hardware wallet such as a Ledger. Using the Ledger in combination with a software wallet such as Electrum is the safest method to store your bitcoins.
You can find the link to buy the Ledger wallet here.
You can find a link to download the Electrum wallet here.
Finally you can find a link how to use the two together here.
With kind regards,
The Anycoin Direct team
Looking for best way to store bitcoin wallet long term ?
I keep all my asset coins including Bitcoin in my favorite wallet exchangermaybe because my Bitcoin is still a little so I'm not too worried about storing it there
but from what I'm experiencing my coins is perfectly safe to be there.
If you have got large amount of bitcoin, then It would be better if you use hardware wallet. For that, you have to spend some money. If you are looking for online free wallet, then Coinbase and Blockchain.info would be very good. If have been using both of them without any problem for more than two years.
I prefer hardware wallet from Ledger. I use Ledger Blue (you can hold there 10 currencies), but it is more expensive then well-known Ledger Nano. I use Ledger for long-term holding, for short-term I use myetherwallet.
I agree with you, that way is more effective and can safely store our assets so that we can sleep more comfortably without fear of the life of the assets we have. sometimes I also prefer to keep my assets in the exchanger if it's only in the day or will be used for trading.
Recently I have purchased Trezor hardware wallet and it is very user-friendly when it comes to storing and spending Bitcoins. I have been using paper wallets for this purpose but it was a bit uncomfortable for me to generate a fresh paper wallet every time to change the address. Even though there is the limited number of supported coins in Trezor wallet, I use it mainly for storing my Bitcoins. I believe that investing in hardware wallet is always better than bearing the risk of compromisation of the database of web wallets.
Looking for best way to store bitcoin wallet long term ?
The best way to store your bitcoin for long-term is to buy the hardware wallet (e.g. Ledger or Trezor wallet). Hardware wallet is the most secure bitcoin wallet out there because it is completely off-the-grid wallet. No one can access it but you.
I prefer hardware wallet from Ledger. I use Ledger Blue (you can hold there 10 currencies), but it is more expensive then well-known Ledger Nano. I use Ledger for long-term holding, for short-term I use myetherwallet.
We can use any of the hardware wallet for bitcoin because it has a lot of wallets in market which use to make our bitcoin safe and useful as an investment for the long time, bitcoin wallet is having a lot of feature, like it keeps bitcoin safe and it use to increase in price to make you profit, Nano and hardware wallet is good but I prefer to use wallet of blockchain only, it is very easy to use and reliable to hold your bitcoin for long time.
If it's for long term and you have a considerable amount to store, then i think it's just right to spend money on a hard wallet. For me that's the obvious option if you're looking long term.
I prefer hardware wallet from Ledger. I use Ledger Blue (you can hold there 10 currencies), but it is more expensive then well-known Ledger Nano. I use Ledger for long-term holding, for short-term I use myetherwallet.
Looking for best way to store bitcoin wallet long term ?
If you are from Philippines, you can use Coins.Ph. i have been using it for a long time, it is so trustworthy that even everyone i know that has bitcoin is using coins.ph to store their coins for a long time. Also, the wallet offers a lot of benefits which i think anybody would like. 
as a BitcoinHolder i have found that the best solution for real long term storage of your coins is to etch your private keys or your seed on a piece of metal. it may be an electro etch which may require a third party if you don't have access to the equipment or simply a physical tool like hammer and chisel to literary write on the metal.
Looking for best way to store bitcoin wallet long term ?
I've been buying $100-$150 a week, every week, since 2012, and rebalancing my portfolio if my bitcoin percentage every exceeds 12% of my net worth (I prefer it at 6%). So I buy every week, but I'll sell half my bitcoin balance if it ever exceeds 12% -- getting me back to 6%. Then I keep buying $100-$150 a week until it exceeds 12% again.
This works extremely well. Every week I look at my cash value in checking and send the extra to my portfolio, be in bitcoin or stocks or real estate.
If you can't save $175 a week into your overall portfolio, you're doing something wrong or you want to be poor. Most poor people make the choice to be poor.
Store the wallet in private hard disk or pen drives in two copies and always wrote the keys in papers as well. As long as you have many backups in offline mode, it is safe to store.
Just like what you've said paper wallet is the safest way to store bitcoin (for me) since you can duplicate it and place it to different safe place unlike the trezor you can only have 1 copy of it. But there are advantages and disadvantages are regarding the paper wallet so this are some of the advantages and disadvantages about the paper wallet.
Advantages:
- You can have different duplicates and can be stored in different places.
- You hold your private key.
- Offline.
Disadvantages:
- Can be stolen Phyiscally.
- Even though it's offline the Private keys can be exposed during the generation and printing.
Advantages:
- You can have different duplicates and can be stored in different places.
- You hold your private key.
- Offline.
Disadvantages:
- Can be stolen Phyiscally.
- Even though it's offline the Private keys can be exposed during the generation and printing.
I will always recommend cold storage for storing bitcoin long-term. Many hardware wallets exists that will do the trick for you. Just research and find one that suits your needs.
Looking for best way to store bitcoin wallet long term ?
If you are interested in the best way to keep your bitcoin, you can use a hard wallet as an indispensable solution.
It has recently appear a new cold-storage method, it is a self-managed solution called the Glacier Protocol which offers free software for a method that keeps private keys secure, isolated, and offline. The solution is not intended for those who want to use their bitcoin on a daily basis and is more for those looking for a more critical security framework. The Glacier Protocol’s target audience is meant for those who don’t trust USB connection vulnerabilities, and general offline key creation. Although, the Glacier creators do understand and state on their website that there is no 100 percent secure method for key storage, as all processes can be vulnerable.
https://news.bitcoin.com/extreme-cold-storage-fortress-solitude-bitcoins/
https://news.bitcoin.com/extreme-cold-storage-fortress-solitude-bitcoins/
i dont know about hardware wallet but i suggest hardware wallet because its safer than online wallet, you can keep the hardware in your safe and it will be there if they aren't stolen. but i think the hardware wallet is high risk if you use it daily, if you use it daily it can be "meat fresh" for the robber to steal it
Hardware wallet is safer but it requires a decent amount of money to invest in when you could just create a offline wallet yourself which is just as safe if not safer.
As someone completely new to BTC this is really helpful. I'm about to buy my first round of bitcoins from coinbase(The reason being it just seemed the most user friendly for my first time).
In looking for the best way to store bitcoin wallet in long term, just like what you've said paper wallet is the safest way to store bitcoin (for me) since you can duplicate it and place it to different safe place unlike the trezor you can only have 1 copy of it. There is a very good way in storing bitcoin wallet in long term. Paper wallet is for sure excellent choice for long term holding BTC,especially if they are not intended to be used for some time.But hardware wallet is also good and safe way to keep BTC and some other altcoins,and even if you have only one hardware wallet you can make as many seed backup of that wallet and if wallet get broken,stolen or something like that you can always use that seed to return data.
Some of the disadvantages when using paper wallet are that ink can fade,(we have user on this forum with this problem)the paper is also not waterproof and fire resistant.Also procedure to create paper wallet is not simple in terms of security,all must be done in a safe environment to avoid leak of data which can lead to loss of your coins.
Jump to: