Topic: Question about saving a large amount of coins (Read 2616 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.
I think you shouldn't use online wallets and create paper one instead
Offline wallet should be good for keeping all your coins, but if you want more easier, you can stored all your coins on online bitcoin wallet, blockchain. It's the saffest for stored your bitcoin imo.
Paper wallet is a good choice but you could pick a better ie hardware wallet and it's much safer as additional security, you can open the wallet, only on one computer.
I would keep my huge Bitcoin pile on paper wallets, ot os the safest method and you can swipe the Bitcoins from the wallet at any time. Just keep it on a safe place. I would not recommend using web (online) wallets though, do not trust any site because if they own your private key, you lost your Bitcoins. Use some wallets with a small setup or if you have time, download the Bitcoin Core wallet (60gb download). I personally use a phone wallet and it works okay with any amount of Bitcoins in it.
The easiest for a newb to get into this space is just follow what people are saying with the hardware cold wallets.
Not the paper ones - only cause people who are less technical have more of a grasp of something physical at the same time like trezor and the other ones that out there.
Not the paper ones - only cause people who are less technical have more of a grasp of something physical at the same time like trezor and the other ones that out there.
Save them on a paper wallet-it's really convenient and as long as you don't lose the wallet,it's all good and it's super safe.
I think it is safe if you use a virtual os in virtual box.. install os there windows 7 and install bitcoin core there.. and fully sync it after that you can get the backup of the os and make it rar with password that you can remember or put it in notes and save it for safety..
like .ova file that i back up all my files.. its more safe i think than the other thing that you save it in usb that can damage if we dont use usb for a long time..
like .ova file that i back up all my files.. its more safe i think than the other thing that you save it in usb that can damage if we dont use usb for a long time..
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?
paper wallet are safe. but it depends on the private key of the wallwt. if you keep the private key safe. your fund will be safe too. and if you lost it or someone else stole that then your coins will not remain safe.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?
using blockchain or any web wallet is not recommend for large amount of coins. as they are not enough.
you can transfer all your balance from blockchain to any wallet if you have private keys. but new version of blockchain won't give private keys. (or I don't know)
ok so when ever i spend or try and send a coin from electrum i need to log in and if i forget my pass i can just recover with a printed back up which is a load of words?
and if i lose my pc along as i got them words or remember my pass i dont need to know my private key i just can use them words on any computer?
Basically yes. and if i lose my pc along as i got them words or remember my pass i dont need to know my private key i just can use them words on any computer?
bitcoin is the best method/money processing system to save a large or small amount of your coins. no its not the paper because paper coins are controled by banks and they can do whatever they want and no you can not transfer them on any wallet but you can exchange them for bitcoin.yes bloclchain.info is a good and respected wallet but if you want then can download any other sutable wallet.if you put your private key on any other wallet then you can access your bitcoin from that wallet too.no you just have to keep your private key secure
Thanks for all the help i think i understand how to keep my bitcoins safe.
if im buying and sending bitcoins to my public address is it ok to use the same one again and a again or should i get a new one?
It's generally advised to use different addresses for your payments. This helps with privacy, security, and organization. By using different addresses people that you send to and receive from won't necessarily know how much Bitcoin you have. if im buying and sending bitcoins to my public address is it ok to use the same one again and a again or should i get a new one?
Also, if ECDSA (the signing algorithm) is broken at some point in the future, your Bitcoin is still protected because of the hashing done to the public key for receiving. If you send, then the public key is revealed. If you receive again at that address then it is possible (but very unlikely now) that the private key be extracted from the revealed public key and your Bitcoin stolen.
Using different addresses also helps you keep track of all of your payments.
Whichever wallet you use will always use newly generated addresses. They will use new ones for change and you will get a new address every time you go to get an address for receiving Bitcoin.
which one would you personally suggest they all seem pretty equal?
i think im gonna aim to get a mac and download and run the software get my public key and send the bitcoins to that from another pc.
I suggest you use Electrum.i think im gonna aim to get a mac and download and run the software get my public key and send the bitcoins to that from another pc.
ok so when ever i spend or try and send a coin from electrum i need to log in and if i forget my pass i can just recover with a printed back up which is a load of words?
and if i lose my pc along as i got them words or remember my pass i dont need to know my private key i just can use them words on any computer?
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?
To store coins long term (i.e. cold storage), paper wallets are usually the recommended method. This is only if you don't plan on spending those coins.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?
Blockchain.info is not really a good web wallet. In fact, basically every single web wallet is pretty bad. Most of them don't allow you to access the private keys, so if they do go down, then there is no way for you to recover your Bitcoin.also with blockchain do i have to re backup my coins every time i spend some?
With their new wallets which are BIP32 HD wallets, no you will only need to backup once.I highly recommend that you use a desktop wallet such as Electrum or Bitcoin Core, especially if you are dealing with a lot of coins.
I agree with this if you have large amount of bitcoin then its somewhat safe if you store it on electrum or bitcoin core since you could have private keys incase of emergency and also you could make use of hardware wallets as long you keep it on a safe place.
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?
If you really want to save large amount of coins , try to trade it into another crypto currency it will help you out while you are trading your coins are going bigger and bigger until you gonna sell it for high price real cash don't really help us to save money it helps us to spend it.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?
Its true. If you are to save money just stick to bitcoin and earn as much as possible as its value will soon grow. If you want to invest to some other altcoin, buy these altcoin when it starts to get to be known.
Thanks for all the help i think i understand how to keep my bitcoins safe.
if im buying and sending bitcoins to my public address is it ok to use the same one again and a again or should i get a new one?
It's generally advised to use different addresses for your payments. This helps with privacy, security, and organization. By using different addresses people that you send to and receive from won't necessarily know how much Bitcoin you have. if im buying and sending bitcoins to my public address is it ok to use the same one again and a again or should i get a new one?
Also, if ECDSA (the signing algorithm) is broken at some point in the future, your Bitcoin is still protected because of the hashing done to the public key for receiving. If you send, then the public key is revealed. If you receive again at that address then it is possible (but very unlikely now) that the private key be extracted from the revealed public key and your Bitcoin stolen.
Using different addresses also helps you keep track of all of your payments.
Whichever wallet you use will always use newly generated addresses. They will use new ones for change and you will get a new address every time you go to get an address for receiving Bitcoin.
which one would you personally suggest they all seem pretty equal?
i think im gonna aim to get a mac and download and run the software get my public key and send the bitcoins to that from another pc.
I suggest you use Electrum. i think im gonna aim to get a mac and download and run the software get my public key and send the bitcoins to that from another pc.
You will then have to put it into a thing like bitcoincore? and i can use it to transfer the coins to a wallet?
Bitcoin Core is a wallet. You have to import the private key into a wallet (not necessarily Bitcoin Core) in order to spend the Bitcoin associated with it.is armory good to use? i
Yes. There is some confusion about Armory due to the change in leadership. The official website is https://btcarmory.comThanks for all the help i think i understand how to keep my bitcoins safe.
if im buying and sending bitcoins to my public address is it ok to use the same one again and a again or should i get a new one?
which one would you personally suggest they all seem pretty equal?
i think im gonna aim to get a mac and download and run the software get my public key and send the bitcoins to that from another pc.
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?
If you really want to save large amount of coins , try to trade it into another crypto currency it will help you out while you are trading your coins are going bigger and bigger until you gonna sell it for high price real cash don't really help us to save money it helps us to spend it.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?
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?
If you really want to save large amount of coins , try to trade it into another crypto currency it will help you out while you are trading your coins are going bigger and bigger until you gonna sell it for high price real cash don't really help us to save money it helps us to spend it. 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 will then have to put it into a thing like bitcoincore? and i can use it to transfer the coins to a wallet?
Bitcoin Core is a wallet. You have to import the private key into a wallet (not necessarily Bitcoin Core) in order to spend the Bitcoin associated with it.is armory good to use? i
Yes. There is some confusion about Armory due to the change in leadership. The official website is https://btcarmory.com 
Yes blockchain.info is one of the most trustable and oldest web wallet and probably the best web wallet around but still for holding very large amount of money you can use paper wallet to be more secure.But if you want to regularily spent your bitcoins,i would still consider blockchain.info wallet,you must enable all security features like 2fa.
This question can be answered in the best manner, if you share with us, how you want to use these coins. We mostly use paper wallets for long term storage, and because cold storage is one of the safest options, if you are creating these paper wallets in the correct manner. < Air-gapped computer or a offline computer >
If you want to dive into your coins regularly, I would invest in a Trezor hardware wallet, and keep some of the coins stored onto that device. Notice, I am saying some of the coins, and not all of them. I prefer to split my coins into smaller groups onto different paper wallets, to give me the flexibility to sweep smaller amounts of coins when needed, and not all the coins, every time I need to use some. ^smile^
If you want to dive into your coins regularly, I would invest in a Trezor hardware wallet, and keep some of the coins stored onto that device. Notice, I am saying some of the coins, and not all of them. I prefer to split my coins into smaller groups onto different paper wallets, to give me the flexibility to sweep smaller amounts of coins when needed, and not all the coins, every time I need to use some. ^smile^
ok so aslong as i write down my private key some were i wont lose my bitcoins?
Yes. But you also can't be spending from the address associated with that private key.You will then have to put it into a thing like bitcoincore? and i can use it to transfer the coins to a wallet?
is armory good to use? i
ok so aslong as i write down my private key some were i wont lose my bitcoins?
Yes. But you also can't be spending from the address associated with that private key. Thanks for all the info, so when i use bitcoincore, before putting my bitcoins on it i will need to sync the blockchain? will i need to sync it every time i use it?. also with bitcoincore can i use it from another computer if the one it is stored on breaks or gets lost.
If you are receiving, you don't need to have it synced, it's just that you won't actually see the Bitcoin show up (not that it really matters, all that matters is the private key). However, if you want to send, you will need to sync the blockchain beforehand otherwise it won't know which outputs to spend from.If your computer breaks, you can import the wallet onto another computer and use it from there.
so the coins are connected to the private key so if my computer breaks they are not stored on it, they are on a private key? the wallets are just so i can see how much is on it and mange it?
Wallets allow you figure out which output scripts belong to you so that you can create the correct signatures.
ok so aslong as i write down my private key some were i wont lose my bitcoins?
Thanks for all the info, so when i use bitcoincore, before putting my bitcoins on it i will need to sync the blockchain? will i need to sync it every time i use it?. also with bitcoincore can i use it from another computer if the one it is stored on breaks or gets lost.
If you are receiving, you don't need to have it synced, it's just that you won't actually see the Bitcoin show up (not that it really matters, all that matters is the private key). However, if you want to send, you will need to sync the blockchain beforehand otherwise it won't know which outputs to spend from.If your computer breaks, you can import the wallet onto another computer and use it from there.
so the coins are connected to the private key so if my computer breaks they are not stored on it, they are on a private key? the wallets are just so i can see how much is on it and mange it?
Wallets allow you figure out which output scripts belong to you so that you can create the correct signatures.
Thanks for all the info, so when i use bitcoincore, before putting my bitcoins on it i will need to sync the blockchain? will i need to sync it every time i use it?. also with bitcoincore can i use it from another computer if the one it is stored on breaks or gets lost.
If you are receiving, you don't need to have it synced, it's just that you won't actually see the Bitcoin show up (not that it really matters, all that matters is the private key). However, if you want to send, you will need to sync the blockchain beforehand otherwise it won't know which outputs to spend from.If your computer breaks, you can import the wallet onto another computer and use it from there.
so the coins are connected to the private key so if my computer breaks they are not stored on it, they are on a private key? the wallets are just so i can see how much is on it and mange it?
For the price of Ledger HW.1 when you are dealing with a lot of coins its extremely highly recommended that you get one. It cost only 0.025 BTC with the bitcoin price of now and it can be shipped worldwide. Its just a USB which keeps your coins secure. You can use it even when your computer is infected from viruses or keyloggers as it does all in the USB chip.
Thanks for all the info, so when i use bitcoincore, before putting my bitcoins on it i will need to sync the blockchain? will i need to sync it every time i use it?. also with bitcoincore can i use it from another computer if the one it is stored on breaks or gets lost.
If you are receiving, you don't need to have it synced, it's just that you won't actually see the Bitcoin show up (not that it really matters, all that matters is the private key). However, if you want to send, you will need to sync the blockchain beforehand otherwise it won't know which outputs to spend from.If your computer breaks, you can import the wallet onto another computer and use it from there.
Sylon, you beat me by a minute or so. Great minds think alike! [smile]
I also like the idea of using a cheap hardware wallet for storage. My Trezor is nice but I use it alot. If you are pretty much going to have coins be "static" in storage, a basic Ledger would do the trick for you. Using a Ledger no computer will have ever seen your private keys. Safety is nice, plus you can recover your entire wallet even if the device gets run over by a car! By the way many use a Ledger daily too. I never intended to "dis" the Ledger at all. You had mentioned you have a "large amount of coins", which of course is a relative term and I am not trying to invade your privacy. A 20 dollar ledger to safely store significant coins would seem quite reasonable to me. Hardware wallets work with pretty many software programs so you get lots of flexibility and are not painted into a corner either!!
I also like the idea of using a cheap hardware wallet for storage. My Trezor is nice but I use it alot. If you are pretty much going to have coins be "static" in storage, a basic Ledger would do the trick for you. Using a Ledger no computer will have ever seen your private keys. Safety is nice, plus you can recover your entire wallet even if the device gets run over by a car! By the way many use a Ledger daily too. I never intended to "dis" the Ledger at all. You had mentioned you have a "large amount of coins", which of course is a relative term and I am not trying to invade your privacy. A 20 dollar ledger to safely store significant coins would seem quite reasonable to me. Hardware wallets work with pretty many software programs so you get lots of flexibility and are not painted into a corner either!!
Ok thanks for the reply, with paper wallets if the site i made the wallet from goes down will i lose my bitcoins? the same for bitcoin core.
No, you will not lose your Bitcoin. Neither of those rely on a centralized service. Once a private key for an address is generated and known, it only relies the persons possessing the key. The issue with web wallets is that most of them don't give you the private keys whereas with a paper wallet the key is printed on paper (thus in your possession) and with desktop wallets, the private keys are stored on your computer (thus in your possession). Desktop wallets generally will still function even if they are no longer actively developed.with paper wallets is the private key the thing to take the money off? could i just write down the private key on a peace of paper or do i need that qr code?
All you need is the Private key. That is what allows you to spend Bitcoin. The QR code just makes it easier to import the key into a wallet so that you can spend the Bitcoin.im planning on buy a new laptop to store my coins. how easy is it to spend bitcoins with bitcoin core? also i had trouble finding a website for bitcoin core could you link it to me?
It is very easy. It's just that syncing Bitcoin Core can take a very long time as it needs to download the entire blockchain (~80 GB). There is a tab for sending, you just enter an address and an amount and it does everything for you. Also, you should encrypt your wallet as it doesn't prompt you to encrypt the wallet when you start the program.Bitcoin Core's official website is https://bitcoincore.org/ but the downloads are hosted at https://bitcoin.org/en/download
Thanks for all the info, so when i use bitcoincore, before putting my bitcoins on it i will need to sync the blockchain? will i need to sync it every time i use it?. also with bitcoincore can i use it from another computer if the one it is stored on breaks or gets lost.
As it was advised above, I would recommend using cold storage.
Another alternative could be Ledger hardware wallets, that's a good choice if you have the opportunity to invest money in securing your coins.
It has a function that allows you to recover your coins if you lost your hardware wallets by using a recovery card QR code.
Another alternative could be Ledger hardware wallets, that's a good choice if you have the opportunity to invest money in securing your coins.
It has a function that allows you to recover your coins if you lost your hardware wallets by using a recovery card QR code.
Ok thanks for the reply, with paper wallets if the site i made the wallet from goes down will i lose my bitcoins? the same for bitcoin core.
No, you will not lose your Bitcoin. Neither of those rely on a centralized service. Once a private key for an address is generated and known, it only relies the persons possessing the key. The issue with web wallets is that most of them don't give you the private keys whereas with a paper wallet the key is printed on paper (thus in your possession) and with desktop wallets, the private keys are stored on your computer (thus in your possession). Desktop wallets generally will still function even if they are no longer actively developed.with paper wallets is the private key the thing to take the money off? could i just write down the private key on a peace of paper or do i need that qr code?
All you need is the Private key. That is what allows you to spend Bitcoin. The QR code just makes it easier to import the key into a wallet so that you can spend the Bitcoin.im planning on buy a new laptop to store my coins. how easy is it to spend bitcoins with bitcoin core? also i had trouble finding a website for bitcoin core could you link it to me?
It is very easy. It's just that syncing Bitcoin Core can take a very long time as it needs to download the entire blockchain (~80 GB). There is a tab for sending, you just enter an address and an amount and it does everything for you. Also, you should encrypt your wallet as it doesn't prompt you to encrypt the wallet when you start the program.Bitcoin Core's official website is https://bitcoincore.org/ but the downloads are hosted at https://bitcoin.org/en/download
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?
To store coins long term (i.e. cold storage), paper wallets are usually the recommended method. This is only if you don't plan on spending those coins.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?
Blockchain.info is not really a good web wallet. In fact, basically every single web wallet is pretty bad. Most of them don't allow you to access the private keys, so if they do go down, then there is no way for you to recover your Bitcoin.also with blockchain do i have to re backup my coins every time i spend some?
With their new wallets which are BIP32 HD wallets, no you will only need to backup once.I highly recommend that you use a desktop wallet such as Electrum or Bitcoin Core, especially if you are dealing with a lot of coins.
Ok thanks for the reply, with paper wallets if the site i made the wallet from goes down will i lose my bitcoins? the same for bitcoin core.
with paper wallets is the private key the thing to take the money off? could i just write down the private key on a peace of paper or do i need that qr code?
im planning on buy a new laptop to store my coins. how easy is it to spend bitcoins with bitcoin core? also i had trouble finding a website for bitcoin core could you link it to me?
one more thing with a desktop wallet if i leave it for years will i still always be able to get my coins from my wallet?
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?
To store coins long term (i.e. cold storage), paper wallets are usually the recommended method. This is only if you don't plan on spending those coins.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?
Blockchain.info is not really a good web wallet. In fact, basically every single web wallet is pretty bad. Most of them don't allow you to access the private keys, so if they do go down, then there is no way for you to recover your Bitcoin.also with blockchain do i have to re backup my coins every time i spend some?
With their new wallets which are BIP32 HD wallets, no you will only need to backup once.I highly recommend that you use a desktop wallet such as Electrum or Bitcoin Core, especially if you are dealing with a lot of coins.
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?
I will not recommend use o web wallets for high amount of coins.
Yes. You can access the coins freely using another wallet provider if you have access to the privatekey from your blockchain wallet. It's always best to create backups.
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?
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?
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