Topic: Question about saving a large amount of coins (Read 2602 times)
The safest one I'd say paper wallet (hide it somewhere safe) and cold storage. Get some flash or hdd, backup yourwallet and place it somewhere safe.
I would answer you just as I have done myself. In this point don't trust anyone, no one, only trust a hardware wallet if you really wanna have peace of mind.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
Correct, dont trust on answer which are commonly suggested by others on using web wallets on storing large amounts of bitcoin as you said hardware wallets would be the on of the best storage in this kind of situation and also you could use desktop wallets which no matter what happen as long you have your private keys there would be no problem on your coins.
I'm guessing cold storage. Encrypting and copying your keys in multiple places. It's rare, but sometimes compressed files get corrupted, so it's important to keep multiple copies in different places.
Paper wallets are the safest as far as I know but make sure you don't lose track of the private key. I wouldn't trust any exchange with a large amount of bitcoin based on what happened with mtgox and cryptsy.
I would answer you just as I have done myself. In this point don't trust anyone, no one, only trust a hardware wallet if you really wanna have peace of mind.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
I think Software wallets can be backup on USB or even the whole wallet is there, or a hardware wallet, which is basically the same as that. The environment sets the need and use too.
From personal experience I really recommend paper wallets, there are tutorials on youtube.
One note, never re-use a paper wallet address. I make sure I withdraw all the amount from each address when I need the funds.
Having said that, I do like the look of the new Trezor2.
One note, never re-use a paper wallet address. I make sure I withdraw all the amount from each address when I need the funds.
Having said that, I do like the look of the new Trezor2.
I generally agree with paper wallets, but it also depends on the set up. A busy office space, a house hold that is hectic, these may be places that a whole lot of money can be destroyed or stolen quick. A friend of mine created a side token for a halfway house that he was running. People coming and going, some straight out of detox or off the street, paper wallet not the way to go
Achow101 seems already answered regarding on OP's queries, He's right i would not recommend too on storing huge amount of bitcoins in a web wallet because if they go down its not possible to recover all your coins because theres private keys unlike on desktop wallets which is more safer you could able to recover it as long you have the important informations.
Correct. An offline cold wallet, a paper wallet or even a hardware wallet is the way to go. You don't want to have all that bitcoin and lose it.
Achow101 seems already answered regarding on OP's queries, He's right i would not recommend too on storing huge amount of bitcoins in a web wallet because if they go down its not possible to recover all your coins because theres private keys unlike on desktop wallets which is more safer you could able to recover it as long you have the important informations.
i recommend you to use paper and offline wallet to save large amount of coins
or use physical wallet and trezor
but blockchain is safe too if you use all the security feature but yea sometimes hacker smarter than us
or use physical wallet and trezor
but blockchain is safe too if you use all the security feature but yea sometimes hacker smarter than us
I liked the idea in this topic
https://bitcointalksearch.org/topic/howto-create-a-100-secure-wallet-17240
Unfortunately it's a topic with 5 years old plus or minus, I don't know if it really works now but probably yes.
https://bitcointalksearch.org/topic/howto-create-a-100-secure-wallet-17240
Unfortunately it's a topic with 5 years old plus or minus, I don't know if it really works now but probably yes.
From personal experience I really recommend paper wallets, there are tutorials on youtube.
One note, never re-use a paper wallet address. I make sure I withdraw all the amount from each address when I need the funds.
Having said that, I do like the look of the new Trezor2.
One note, never re-use a paper wallet address. I make sure I withdraw all the amount from each address when I need the funds.
Having said that, I do like the look of the new Trezor2.
i would suggest to store your coins in different addresses and in paper wallet, that way you will have less risk of losing your coins plus it will be much safer than storing in other wallet service
what is the safest way to save a large amount of coins, is it paper ? if so can paper coins be transferred to any wallet?
also web wallets what are some of the most respected ones, is blockchain.info a good wallet, if it goes down can i redeem my bitcoins on another site?
also with blockchain do i have to re backup my coins every time i spend some?
I Don't suggest you to Use Web Wallets For Storing A Large Amount Of Btc Because You Can't Able to Get Your Btc Back If your Wallet Got Hacked By Someone So That I Think That If you Want to Store A High Amount Of Btc Then I Suggest You to Store Them In a Paper Wallet.... also web wallets what are some of the most respected ones, is blockchain.info a good wallet, if it goes down can i redeem my bitcoins on another site?
also with blockchain do i have to re backup my coins every time i spend some?
you can use any bitcoin wallet for storing any amount of money you want that does not matter but if you want extra security then i will suggest make a paper wallet. paper wallets are just an offline backup nothing else now if you have one bitcoin address then you will have its private key to.now in case your wallet goes down for a day then you can simply use that private key on any other wallet and you can control your full money just like before and also remember you have to keep it safe
I would answer you just as I have done myself. In this point don't trust anyone, no one, only trust a hardware wallet if you really wanna have peace of mind.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
If you have large amount of coins than you would have no problem buying a hardware wallet as is very much worth the money in this situation.
Hardware wallet is a good option too to stored your bitcoin
like trezor, it is very safe to use it.
But you can achieve same level of security for free using freeware open source software wallet while cheapest hardware Trezor Wallet costs $99.like trezor, it is very safe to use it.
If op is so concerned about security then Armory is the best choice. It's most versatile and secure desktop bitcoin wallet around.
the thing is that not everybody is able or even willing to spend time to learn how to secure their wallet. it is a huge hassle for some people to go for a linux operating system offline, learn how to use it, transfer the code (like a wallet or something like bitadresses,..) and make the offline cold storage and the rest of all that. so they choose the easy way of paying.
Hardware wallet is a good option too to stored your bitcoin
like trezor, it is very safe to use it.
But you can achieve same level of security for free using freeware open source software wallet while cheapest hardware Trezor Wallet costs $99.like trezor, it is very safe to use it.
If op is so concerned about security then Armory is the best choice. It's most versatile and secure desktop bitcoin wallet around.
Hardware wallet is a good option too to stored your bitcoin
like trezor, it is very safe to use it.
like trezor, it is very safe to use it.
There is no problem about storing your large amount of Bitcoin into your secured wallet, especially if you re using Blockchain wallet, or some pc wallet, just avoid using the online and exchanger's wallets.
If you have secured and safe wallet which you have the private keys, you can safely store and hold your bitcoins into it , even if you have the plan to save a large amount of bitcoins, there is no issue usually.
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