Paper wallet / Cold Wallet - page 2.

Tashi

full member

Activity: 391

Merit: 100

Quote from: tinochan412 on November 16, 2017, 10:16:25 AM

Hi guys, i'm really curious I store my btc in coins.ph where the prices change based on the current exchange rate. PHP-> BTC and BTC->PHP. I just store it there for a long time. Now i've been hearing that I shouldn't maintain my btc in a trade wallet or exchange wallet. So anyway, Could anyone define to me what are those wallets and what is the difference between a paper wallet and cold wallet?

All I know is cold wallet, in this wallet you got to get private key for your wallet. As we all know, private key are great source of defense of a wallet. You should maintain that.

I am a Filipino and coins.ph is a reliable wallet in Philippines. But it is better if you store a maximum of 2 bitcoins in there. Because some accounts were held by coins because of having many bitcoins and they are holding accounts to make sure where that money came from.

AndriyPilipyak

full member

Activity: 336

Merit: 100

cold wallet its mean-you have your own privatekeys,you also can generate privatekeys or as regular get from blockchain for example

kahc

member

Activity: 350

Merit: 13

Quote from: tinochan412 on November 16, 2017, 10:16:25 AM

Hi guys, i'm really curious I store my btc in coins.ph where the prices change based on the current exchange rate. PHP-> BTC and BTC->PHP. I just store it there for a long time. Now i've been hearing that I shouldn't maintain my btc in a trade wallet or exchange wallet. So anyway, Could anyone define to me what are those wallets and what is the difference between a paper wallet and cold wallet?

Storing private keys online is not safe, if the exchange gets compromised, you are basically fucked.
What you should do is download Electrum, create a new wallet ,and transfer the funds from the exchange to your new wallet.
Electrum is a safe and easy to use cold wallet.
Paper wallet is physically printing out or writing down the private keys and public keys to paper material.

tinochan412

newbie

Activity: 42

Merit: 0

Hi guys, i'm really curious I store my btc in coins.ph where the prices change based on the current exchange rate. PHP-> BTC and BTC->PHP. I just store it there for a long time. Now i've been hearing that I shouldn't maintain my btc in a trade wallet or exchange wallet. So anyway, Could anyone define to me what are those wallets and what is the difference between a paper wallet and cold wallet?

Topic: Paper wallet / Cold Wallet - page 2. (Read 1040 times)