I think the best way is to hold it in your bitcoin wallet and make at least a monitoring of exchange rate in buying and selling. Just holding the bitcoin can have a higher returns if it sell in a higher price.
The best to store my bitcoin is blockchain wallet because I do not trust any other wallet due to the security and authentication. For me only blockchain is trustable and reliable. Keep your bitocins in blockchain wallet and swait for some time and do not use or spend them if you do not need and when the price go up more then you can use or sell your bitcoin using your blockchain wallet.
Topic: What is the best way to store your bitcoins? (Read 846 times)
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
If you have more bitcoins and want to keep it ultrasafe then go for Hardware wallets like TREZOR . or the cheapest Ledger Wallet.
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
You can keep your bitcoins on Windows / Android based software such as Copay, Mycelium Wallet etc.
hardware wallet.. and best among that is ledger nano s
i use coinbase. I would suggest you to use that because it is in usa and is regulated. They also have a exchange so you can trust it completely it also is going to credit all the forks which are going to occur in bitcoin. The fees is also really less
I hear a lot of talk about coinbase and i want to know if people from outside the USA can use it as well because i can see that there is a lot of verification when it comes to them and i don't think with me being outside the USA, i can successfully pass them at all. Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
If your amount is small and you are interested in Trading keep it in premium Hot Wallets (Online Wallets) like Coinbase , Blockchain , Xapo
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
Avoid keeping bitcoins in exchanges as they are more prone to cyber attack, put them in wallets.Different exchanges/wallets are CEX.IO , Coinbase , Coinmama , Whaleclub , Lake BTC , Bitit , VirWox , HitBTC, Changelly.
I use a hardware wallet. I also store the the seed words in a seperate location. This way if the physical wallet is lost/stolen/destroyed I can back it up, and if the seed words are lost I can still have access to my funds and protect them.
A Hardware wallet like a Ledger Nano S for example, should suit as the best Option.
Personally, I don't use one but store my coins on exchanges - since there are so many wallets at once.
Personally, I don't use one but store my coins on exchanges - since there are so many wallets at once.
Hey guys, I wanna ask what are your plans on your Bitcoin in the future? Do you plan to keep on investing on Bitcoin related businesses or do plan to convert it into fiat and ventures on new business?
I'm planning to invest more on Bitcoin related companies and convert some of my Bitcoin into fiat and invest it on our local stock market. How about you?
I'm planning to invest more on Bitcoin related companies and convert some of my Bitcoin into fiat and invest it on our local stock market. How about you?
a hardware wallet is the best choices if you want the secure one to save bitcoin, but from my experience i save my bitcoin in online wallet like blockchain and local exchanger in my country is safe, you need to know that dont give your private key or password from your account to anyone, if you give it its same that you give all youor btc to them
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
So, the first and foremost rule never keep all your bitcoins in your one pocket, DISTRIBUTE THEM among different wallets.
Paper wallets are the most secure, if left unused that is.
It is also very cheap, but you would have to secure the paper (against fire, etc...).
Their biggest disadvantage is that they are quite clumsy to use AFAIK.
So if you happen to have a stash of bitcoin you know you wont touch before long, a paper wallet might be a good option.
But if you still want your bitcoins to be somewhat accessible for spending, a hardware wallet seems a better option IMHO.
I prefer a hardware wallet as a middle ground between security and ease of use.
It is also very cheap, but you would have to secure the paper (against fire, etc...).
Their biggest disadvantage is that they are quite clumsy to use AFAIK.
So if you happen to have a stash of bitcoin you know you wont touch before long, a paper wallet might be a good option.
But if you still want your bitcoins to be somewhat accessible for spending, a hardware wallet seems a better option IMHO.
I prefer a hardware wallet as a middle ground between security and ease of use.
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
For the best security, you require cold storage. Cold storage in the blockchain realm simply means a device that is disconnected from the Internet. This is the toughest security measure possible to safeguard any crypto-investment from the prying interests of hackers.
i use coinbase. I would suggest you to use that because it is in usa and is regulated. They also have a exchange so you can trust it completely it also is going to credit all the forks which are going to occur in bitcoin. The fees is also really less
In my opinion it is safest to store your bitcoins on your hardware wallet than online just make sure that you got your own private keys. And another one safe to store bitcoin is paper wallet you can find one on the internet.
Storing your BTC on an exchange is the common way most traders save their coins. But is it the best method? Cold storage to me look expensive, since it is costive to purchase hardware.
It is definitely not the safest way to store coins. Be cautious when it comes to exchanges because you are actually entrusting your coins to them. You are not the one holding or owning the private key or pin codes to your coins if you are storing them in exchange sites. A cold storage is the best but if you are only saving a single bitcoin perhaps you will have to trust some other online wallets temporarily.
If you are going to be a daily trader, then keep your coins on your exchange, this is the best way that you can store them because you will not have to move your coins everytime that you want to buy/sell a coin.
If you are not going to trade, then keep your coins on your wallet, if you have an offline wallet, then it is much better because you know that you are never going to be hacked, so you are going to be much more safe than holding them on a exchange.
If you are not going to trade, then keep your coins on your wallet, if you have an offline wallet, then it is much better because you know that you are never going to be hacked, so you are going to be much more safe than holding them on a exchange.
Cold storage is the best way no matter in you are daily trading or holding for the long term. Cold storage is the safest and should only be accessed when needed and a new cold storage should be created when you have accessed the previous one.
The best way for it to do so is to have a mind set. A very strong mindset actually to do it. Why? Yes maybe yoy have the mindset but if it is not strong enough then everything will be useless when have already changed your mind. Saying that you will always be saving amounts in your storage is really easy but it is really hard to do so if you dont have a strong mindset
I agree on your point of view. As for me,In oder for me to store my bitcoins safely,I have to change it into a real money which is the physical money or we call it as fiat. I definitely like tp store it in a wallet first that is of course a digitized money from bitcoin. It is true that saving is very hard to do but if you have determination in saving your money as well as bitcoin,there's no problem with that and it's a good discipline to not spend things which are not inportant. So from the exchanging real money from bitcoin,I store it in my vault or in the bank. Through these,I can store my bitcoin into cash in the best way I can. Jump to: