Mining Revenue Storage Procedures - Type of wallet to use?

griffga

member

Activity: 76

Merit: 10

You can use an online wallet such as Coinbase, but you are putting your coins in someone else's hands. If you did use an online service like that, please use one that has been around for a while and has a cold storage feature.

DrG

legendary

Activity: 2086

Merit: 1035

If you want to be able to be able to have a wallet and track all the funds coming into it but have it secured so nobody can send funds out, then use Armory's "watching only" wallet. You make an offline copy on a backup machine (no paper needed) and transfer the key over to your main machine so you can watch it like on a real wallet but a hacked can never spend it.

https://bitcoinarmory.com/about/using-our-wallet/

Hardy49r

newbie

Activity: 5

Merit: 0

Someone mentioned to me that the most secure anonymous place to receive pool revenue would be into paper wallets instead of to an online Blockchain or QT wallet address. I understand his idea but that adds a layer of pain having to sweep the paper wallets for use, plus you still have to maintain and secure them (plus all the issues with paper and moisture etc.)

So couldn't you get some security using an account one of the third party coin bank account like Bitpay (Copay), Coinbase, FrozenBit, etc. This would also allow the flexibility to convert to FRNs is desired.

I apologize, if this topic has been discussed and beaten to death. Hopefully someone is not going to post the "Not this shit again!" pic.

Is there a suggested best-in-class wallet management procedure to move daily/weekly/monthly revenue from pools to accounts?

Peace

Topic: Mining Revenue Storage Procedures - Type of wallet to use? (Read 877 times)