The Safest Way To Store Bitcoins And Litecoins?

Dave90210

newbie

Activity: 53

Merit: 0

Which computer program do you use for this? Is there any easy to understand online tutorial that show you how to do this?

Quote from: tclo on August 25, 2013, 02:20:20 AM

I think a regular computer software wallet that you have encrypted with PGP, truecrypt, etc is better than paper wallet. Anyone with access can read the key on the paper wallet when cannot do with the software one. You can back it up a few times including on the cloud so no significant risk of losing it.

Even with paper wallet in bank safety deposit box, what if bank gets bombed or meteor hits it or anything else. I prefer encrypted software version but of course you need to remember the password for it and/or give it to a trusted friend or family member in case you have brain damage or perish off this earth.

tclo

hero member

Activity: 518

Merit: 500

I think a regular computer software wallet that you have encrypted with PGP, truecrypt, etc is better than paper wallet. Anyone with access can read the key on the paper wallet when cannot do with the software one. You can back it up a few times including on the cloud so no significant risk of losing it.

Even with paper wallet in bank safety deposit box, what if bank gets bombed or meteor hits it or anything else. I prefer encrypted software version but of course you need to remember the password for it and/or give it to a trusted friend or family member in case you have brain damage or perish off this earth.

virtualmaster

hero member

Activity: 504

Merit: 500

To store Bitcoins and Namecoins the most secure way is to use a deterministic wallet.
You memorize a long and unpredictable seed then you import the created private keys in an encrypted wallet and use from there.

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Quote from: Dave90210 on August 24, 2013, 12:53:58 PM

Ok lets say I print this wallet how do I add funds to it and see the balance etc? It's a little confusing to me on how it works?

Quote from: maxmint on August 24, 2013, 12:25:40 PM

I guess paper wallets are a pretty secure way to store your coins for a long period. Have a look at https://www.bitaddress.org and https://liteaddress.org/

You send coins to the address and can look them up on blockchain.info. Use something like bitaddress.org/blockhcain.info to create a paper wallet.

Dave90210

newbie

Activity: 53

Merit: 0

Ok lets say I print this wallet how do I add funds to it and see the balance etc? It's a little confusing to me on how it works?

Quote from: maxmint on August 24, 2013, 12:25:40 PM

I guess paper wallets are a pretty secure way to store your coins for a long period. Have a look at https://www.bitaddress.org and https://liteaddress.org/

MagicBit15

sr. member

Activity: 294

Merit: 250

Let's Start a Cryptolution!!

As soon as there's Casascius Litecoins, we may have a good way ; pp Cool

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Paper, but I was looking at getting some metal and a letter punch actually....

maxmint

hero member

Activity: 700

Merit: 500

I guess paper wallets are a pretty secure way to store your coins for a long period. Have a look at https://www.bitaddress.org and https://liteaddress.org/

Dave90210

newbie

Activity: 53

Merit: 0

I'm not tech savvy and I need to know the least complicated way to get a Bitecoin and Litecoin wallet and how to store the currency for long periods of time. I want to have no risk of having it hacked and stolen.

How do most of you store your currency?

Topic: The Safest Way To Store Bitcoins And Litecoins? (Read 2170 times)