Saving Bitcoin in a wallet - page 2.

Yaunfitda

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Quote from: Drnice on November 16, 2017, 02:34:29 PM

Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

When it is for a long term store, it is more advisable to use a hardware or paper wallets, where you are in full control of the activities done. If it's an online wallet, it can't be fully trusted cause you are not fully in control of your coins.

For long term a hardware or paper wallet is the best options. For any other activities, a wallet like Electrum, which gave you total control of your private keys and the ability to adjust fees plus the security you can have is most trusted. It good to store a few bitcoin in a trading exchange, but just for your trading purposes only and don't put everything in there.

Chibykesman

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Interested in bitcoin

It is good saving your bitcoin in your wallet, it is like saving your money in a bank whenever you want it you go and withdraw it, so your wallet is like that too. But do not expose it.

Raju Ahammed

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it's a bigg risk i think . i just say don't have to save any online wallet your bitcoin .it will be harmful for you.thank you.

Drnice

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

When it is for a long term store, it is more advisable to use a hardware or paper wallets, where you are in full control of the activities done. If it's an online wallet, it can't be fully trusted cause you are not fully in control of your coins.

Caesar-Giulius

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Buy, sell and store real cryptocurrencies

Yes, there are risks when you store your BTC in an online wallet, third party wallet and exchanges. The account might be hacked or the exchanges close down and run away with your coins.

It is better to use a paper wallet or hardware wallet. In this case, you really own the coins since You own the private key.

mobnepal

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

Yes it will be risky if you will store them in some of the centralized bitcoin wallet like coinbase and xapo.

Either use paper wallet or hardware wallet like trezor, ledger to store your bitcoin for long term, we have seen many scam bitcoin web wallets before so be careful when choosing web wallets to use as hot wallet.

FrankNoland

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

I just assume that it will depend on the kind of wallet that you use, its very rare that wallet developers can just decide to shutdown their operations and go away with people's investments. However, I guess you just have to ensure that the wallet is secure enough and you have control of your private keys. I personally think that there is too much risk if you will be storing your bitcoin on an online wallet for long term. If you are willing to hold on to your bitcoin for long term, rather buy yourself a hardware wallet or rather use a desktop wallet instead.

SangkuniBird

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You should understand the different types of services designed to save your money online. Many online redpads and wallets have experienced security leaks in the past. In general they still do not provide certainty and security adequate to be used as a means of storage like a bank. We recommend you use other Bitcoin wallet services. If not, you should choose this type of service more carefully. In addition, it is strongly recommended to choose a service that uses two-factor authentication

aardvark15

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

As long as it is an offline wallet or paper wallet where you hold the private keys, I don’t see how there can be any risk. If you have the public and private keys and no one else has them, your Bitcoins will always be secure. There’s almost no way for someone to just guess your private key unless you don’t secure it properly. I would keep the private keys in a safe deposit box as a hard copy.

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

I would advise to use the strategy of 50:50 method. If you are doubting and still undecided that you are wanted to take risk or not, this 50:50 method could help you. This is how it is, saved 50% on your own wallet and 50% to for investment this both is for a long time period that you are really wanted. We all know that the result is at the end, when you gained income to your long term investment be glad and feel blessed BUT if your money wont back even your 50% investment still be thankful because you still have 50% money left at your wallet.

longpro098

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If you have saved it in your wallet then there is no risk. Once in your wallet, it will be there safely. Who can get the coin stored in your wallet? so please rest assured

sofi@

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So far I haven't heard any news about on-line wallets taking savings that are idle for a long period so I guess it is safe if you want to keep your bitcoins in your wallet just pick the best wallet that you truly trust. You can also try to get some paper wallet with that you cab have an assurance that your bitcoin will not be gone and stole by someone it's quite expensive but it's worth it.

Xenrise

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We people have fear on long term trading specially this reason. Well, for you to long term your investment, you must check your wallet accordingly. So that you can see how it goes inside your wallet. Whether it still there or not. Making sure of possibilities is the key for this.

marcuslong

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

It is good when you are earning profit and then save them in your wallet but f you just buy bitcoin and wait for the price to increase its risk because some of traders are selling their coins and wait for the price to dump and buy again if you dfollow the flow maybe you will get another profit from there but the transaction fee is a little awful but when you trade it into alternative xoins and esrning then saving is really good

BTCeminjas

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

Saving and investing for long term with bitcoin and just save in the crypto wallet it depends upon the wallet you I strongly recommend that use hardware wallet or white paper wallet to store your bitcoin and don't give your secret key to other to avoid scam.

farhan28

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Saving Bitcoin in a wallet is a good decision..because if you keep the bitcoin it will increase with the increase of value of bitcoin...but it shold be remember that it should be keep into paper or hardware wallet..because you don't carry the private key..

Marrionbitcoin

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Quote from: stevanprice on November 16, 2017, 09:48:46 AM

Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...

In my opinion, it is ok to save bitcoin on a wallet but not for too long like for a 3 to 4 weeks or more because your money would be idle or wasted instead of earning interest or investing it in Bitcoin trading. Just wait for the perfect timing to buy Bitcoin and read the forecast so that you can make plans.

paolo099

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hardware wallet is a must if you want to store your BTC for long time, like everyone already told you, you don't own your BTC unless are stored in a wallet where you own the private key.
Just don't be like couple of guys i've read on this forum who lost his passphrase/password and whatever is needed to get access to your wallet, you will lose everything if you forget your password and it's hardly recoverable.
paper wallet, if properly stored and covered in plastic paper are safe but have to be kept in a safe place waterproof/fireproof because, all in all it's still paper.

maman09

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Quote from: Svelto on November 16, 2017, 09:57:44 AM

For storing Bitcoin long term, it is recommended to store in a paper or hardware wallet. It is not so safe to store in exchanges and online wallets. The reason is because you don’t control the private key account. If anything happen to the exchanges or online wallet, you will lose your coins. Better be safe than sorry.

I a gree with you. better keep it in a safe place like a hardware wallet. many possibilities can occur if saving with long time in exchanges. to make sure it's safer, true what's said @Svelto

Palmholder

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What kind of wallet you mean? If you mean online wallet, better go for blockchain.com, but if you want to get more security for your private key, which lets to manage your coins, then go for hardware. I prefer to use Bitcoin Core node at offline laptop. There are many different options by the way, Ledger/Trazor wallets seems to be the most secure but it costs. As an alternative you may run bitcoin node on external hard drive or use a paper wallet, all depends from your aims

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