What is the best way to store my cryptocurrenices

indika

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

you can hold it at coin base or download wallet and back up wallet.dat file and keep it some secure place,you can write it in to 2 or 3 cd and keep it safely,or you can save them on a usb device and keep it safely but you must keep some copy of it some other trusted place too

Mumbeeptind1963

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

If you want to stored it, try to store it in the alt coin market buy alt coin and make it as you investment. Then put a two way authentication on it to secure your account. You may also try using offline wallet such as electrum. It is one those things that might help you.

BitcoinNewsMagazine

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Quote from: bigmattana on June 16, 2017, 09:40:57 PM

Can someone explain why a hardware wallet is better than a cold storage paper wallet? If the hardware wallet fails, you would still need a paper backup of the keys, right?

Also, is there a quick and easy way to use an offline phone or tablet to scan a paper wallet barcode, create a signed transaction, and then scan the transaction barcode with an online phone or tablet? This seems like it would be safer than a hardware wallet and almost as convenient.

1) Hardware wallets keep the private keys to your bitcoin securely offline yet allow you to send and receive conveniently, something a paper wallet can not do.
2) Not at present

Ledger Nano S hardware wallets are sold out till August. I think you can still find a Trezor at an elevated price. Digital Bitbox is available for $78 shipped two day from Switzerland. I use and like all three. The BitBox is bitcoin only and simpler to use than the others for someone new to hardware wallets.

BlockCAT

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My suggestion is to have both a hardware wallet and a paper backup. I have my hardware wallet at home, and then my paper one in a safety deposit box at a bank near me.

Suicide_Rants

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Depends, convince or security.

If you want security, conciser cold storage. Not good if you want to spend it, but with tools like coinb.in, you can use it as a normal wallet. Cold storage means paper wallet. You can get one at walletgenerator.net, I use it as my wallet solution. I avoid syncing while preserving security. You can look up addresses with sites like blockchain.info or other blockchain viewers.

Now, if you want a normal wallet, I would recommend Exodus or Coinomi. By 'normal' I mean light wallet. They aren't reccomended for constant use, if you want to use a wallet that can be used with frequent payments like mining, then talk a look at a QT wallet. Takes forever to sync, recommended for mining and faucet payouts.

Forgot about Online wallets. No sync times, which is great, but who owns the privkeys, owns the wallet. Basically, if the people who own the online wallet want your coins, they can have it. Very convenient though, so good on that end.

Basically, it's all about choice. Depends what you want. There isn't a 'best choice'.

Lagduf

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

juat try to use dekstop wallet or you can biy hardware wallet. And you will able to see all of the market that has listed digibyte but i recomend you to buy on polo

favila

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Quote from: bigmattana on June 16, 2017, 09:40:57 PM

Can someone explain why a hardware wallet is better than a cold storage paper wallet? If the hardware wallet fails, you would still need a paper backup of the keys, right?

Also, is there a quick and easy way to use an offline phone or tablet to scan a paper wallet barcode, create a signed transaction, and then scan the transaction barcode with an online phone or tablet? This seems like it would be safer than a hardware wallet and almost as convenient.

You just need the seed phrase and password to recover your hardware wallet. Either remember the seed or store it on paper.

I'm not qualified to answer your second question though.

sulendra12

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it.

Hardware wallet or good desktop wallet such as Exodus or Electrum but just make sure you can access your private key because that's your money and avoid to store bulk of bitcoins on web wallet.

Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

DGB availabe on Yobit : https://yobit.net/en/trade/DGB/BTC
Poloniex : https://poloniex.com/exchange#btc_dgb

bigmattana

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Can someone explain why a hardware wallet is better than a cold storage paper wallet? If the hardware wallet fails, you would still need a paper backup of the keys, right?

Also, is there a quick and easy way to use an offline phone or tablet to scan a paper wallet barcode, create a signed transaction, and then scan the transaction barcode with an online phone or tablet? This seems like it would be safer than a hardware wallet and almost as convenient.

DainSLane

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

If you have large amount of bitcoin you can use a cold storage to secure your bitcoin holdings Paper wallets were the most popular type of cold storage because of it 100% security Cold storage is when you stored your bitcoin in a secure offline environment. Also you can try software wallets software wallets because it is physically stored in your hard drive just make sure to back up your wallet.

renes

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You can either get a hardware wallet or print a paper wallet. Hardware wallet is advanced form of paper wallet.

niisarearning

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I would recommend hardware wallet is the safest choice if your having good amount of bitcoin . If moderate amount and go with paper wallet and laminate and keep it. If it is very less and blockchain.info is better

benthach

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

store at the place where you buy it from if not plan to trade with it, simple as that. if buy from coinbase then leave it there, it's more secure than these crap third-party wallets which can disappearing or hack.

Juggy777

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

With the August 1st deadline looming on us I would advise not to store your coins in a exchange, you should store your coins in a wallet that give you private keys, best would be a paper wallet http://toppayingsites.net/tutorials/how-to-use-paper-wallet-bitcoin/ I am following this tutorial, note this tutorial is not created by me, so any doubts ask out there. Choose your wallet really carefully it's scary times these days and if you don't have a private key, you could have a problem.

EXtremeAEX

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I recommend you to get separate clients for each crypto that you want, if it is a large volume. I just switched to Electrum from a Web Wallet which recently had issues, so you can check that out.

Here is a good site to find out which wallet you prefer: Bitcoin Wallets

For altcoins like ETH, WAVES, DGB, I am sure they have specialized wallets that can be found easily, try to avoid storing them in an exchange site. If you want to, remember Cryptsy?

Fredomago

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if that is just 1 btc and you are planning to use it for trade might be possible to download lite wallet and store it there, so you have the access and you can use it smoothly just keep reading those information that had been shared inside your thread and coming from it you will see what would be the convenient way to store your btc.

lite

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

I use hardware wallet to keep most of coins and some in various wallets(for spending) like mycelium, electrum. i think you can do the same, buy a hardware wallet for about $100(trezor) and use different wallets/paper wallets.

ethereumhunter

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Quote from: Jamzymc on June 15, 2017, 08:21:37 PM

I am about to buy 1 BTC. I need to know the best way to store it and also some insight into doing it. Thanks. Also where can I buy digibyte it's at a real low right now might invest a cheeky 50 and just hold it forever

what coins you want to save? do you want to use stand alone wallet or multiple wallet which can save more than 5 coins? where do you want to use the wallet, is it in your pc or your android phone? my suggestion is you can use coinomi because that wallet have many option crypto currencies and digibyte is listed too in that wallet and for buying digibyte, i think you can buy it in the market and then you can send it into your coinomi digibyte account.

BattalgiaTR

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if you intend to keep the BTC as they are for a very long period of time, then the best option would be a paper wallets with multiple copies, kept in safe and secure sites, can even add a password to make sure it wouldn't be an issue if one fell into someone else's hands (although unlikely).

slackcryptoz

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Not sure about it, but have been suggested with few wallets that are good for specific purposes. Blockchain wallet is suggested for storing bitcoin. It gives good security and for ethereum blockchain based coins it's suggested to use myether wallet as the best web wallets.

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