What is the safest way to store Bitcoins? - page 6.

dothebeats

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Quote from: Orbs on September 28, 2015, 01:51:27 PM

Offline. Put the wallet .dat files on a usb stick and keep them safe.

The USB Stick should be clean and free of viruses, or else it will be a mess for the user in case something bad happens (the data got corrupted/lost) to the USB stick. Also, a nice thing to do/consider is to have multiple copies of the wallet files in separate/different USB Sticks that are also free of viruses so that in case one got its data corrupted/lost, you will still have a copy of it.

DeathAngel

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I advise paper wallets or trezor.

christycalhoun

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Print out a paper wallet and put copies in a safety deposit box at a trusted bank.

Mickeyb

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Quote from: ranochigo on September 29, 2015, 05:02:53 AM

Quote from: DrG on September 29, 2015, 03:07:12 AM

There might easier ways now but Bitcoin armory X of Y paper wallets are the "easiest" to use while providing the highest protection. For example spread 5 copies of a document around the world and you would only need 2 or 3 copies of that document to recreate your keys. Even if your house floods or burns down as long as you can get the correct number of copies you're OK.

You need to ensure that the keys don't sign the transaction on the same computer. It would not be safe as it would be exposed to an attacker all at once.

Quote from: Mr Crabs on September 29, 2015, 04:57:55 AM

Quote from: ranochigo on September 29, 2015, 02:23:37 AM

Quote from: Orbs on September 28, 2015, 01:51:27 PM

Offline. Put the wallet .dat files on a usb stick and keep them safe.

The wallet must have never been on a computer that has connections to the internet before. Doing so may result in your private key being compromised in the event that there is a virus infection.

No it doesn't. All you need is to make sure your computer is safe. If you use a computer that is only ever used for bitcoin transactions then there likely isn't going to be any issues.

The problem is that you cannot make sure that your computer is truly safe without formatting it. Most antiviruses cannot detect every single virus that is in the wild, the best method is to format it. Also, most people would not have a computer that only does Bitcoin transaction and don't surf the web/

All of this above reminds me of the time before I got myself a hardware wallet. Non-stop paranoia, reformatting, checking and running anti-viruses and malware protections. It was hard to relax myself after I started using Trezor.

ranochigo

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Quote from: DrG on September 29, 2015, 03:07:12 AM

There might easier ways now but Bitcoin armory X of Y paper wallets are the "easiest" to use while providing the highest protection. For example spread 5 copies of a document around the world and you would only need 2 or 3 copies of that document to recreate your keys. Even if your house floods or burns down as long as you can get the correct number of copies you're OK.

You need to ensure that the keys don't sign the transaction on the same computer. It would not be safe as it would be exposed to an attacker all at once.

Quote from: Mr Crabs on September 29, 2015, 04:57:55 AM

Quote from: ranochigo on September 29, 2015, 02:23:37 AM

Quote from: Orbs on September 28, 2015, 01:51:27 PM

Offline. Put the wallet .dat files on a usb stick and keep them safe.

The wallet must have never been on a computer that has connections to the internet before. Doing so may result in your private key being compromised in the event that there is a virus infection.

No it doesn't. All you need is to make sure your computer is safe. If you use a computer that is only ever used for bitcoin transactions then there likely isn't going to be any issues.

The problem is that you cannot make sure that your computer is truly safe without formatting it. Most antiviruses cannot detect every single virus that is in the wild, the best method is to format it. Also, most people would not have a computer that only does Bitcoin transaction and don't surf the web/

Mr Crabs

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Quote from: ranochigo on September 29, 2015, 02:23:37 AM

Quote from: Orbs on September 28, 2015, 01:51:27 PM

Offline. Put the wallet .dat files on a usb stick and keep them safe.

The wallet must have never been on a computer that has connections to the internet before. Doing so may result in your private key being compromised in the event that there is a virus infection.

No it doesn't. All you need is to make sure your computer is safe. If you use a computer that is only ever used for bitcoin transactions then there likely isn't going to be any issues.

ikydesu

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Quote from: pilscoop on September 28, 2015, 01:39:10 PM

Other than physical wallets

Electrum, it's easy to use, cold wallet and the security features for your coins is enough to keep your coins safe.
Also follow this thread to get some tips to keep your system secure: https://bitcointalksearch.org/topic/keep-your-system-updated-and-stay-secure-tips-to-avoid-viruses-trojans-203876

DrG

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There might easier ways now but Bitcoin armory X of Y paper wallets are the "easiest" to use while providing the highest protection. For example spread 5 copies of a document around the world and you would only need 2 or 3 copies of that document to recreate your keys. Even if your house floods or burns down as long as you can get the correct number of copies you're OK.

favdesu

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Quote from: Possum577 on September 29, 2015, 02:28:22 AM

Quote from: pilscoop on September 28, 2015, 01:39:10 PM

Other than physical wallets

Coinbase, Circle, Xapo...seriously. I know others will say "you don't own your coins with those joints" but it's too easy to lose your coins or get hacked with an online wallet.

and how do you not get hacked in coinbase or other online 3rd party wallets? plus you don't own the coins.

Possum577

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Quote from: pilscoop on September 28, 2015, 01:39:10 PM

Other than physical wallets

Coinbase, Circle, Xapo...seriously. I know others will say "you don't own your coins with those joints" but it's too easy to lose your coins or get hacked with an online wallet.

ranochigo

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Quote from: Orbs on September 28, 2015, 01:51:27 PM

Offline. Put the wallet .dat files on a usb stick and keep them safe.

The wallet must have never been on a computer that has connections to the internet before. Doing so may result in your private key being compromised in the event that there is a virus infection.

Even though paper wallet are cheap and quite secure, I would say that an offline raspberry pi with electrum would work much better. For most cases, internet is required to download the UXTO informations. If you use electrum, you can download it on an online computer and transferring it to the offline computer to sign before broadcasting it on the online computer. Even so, no precautions can be made against weak RNG attacks, unless you review the entire code thoroughly and have plenty of knowledge.

favdesu

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I use elctrum. has the best security and you can still use it with some work. best for storage in my opinion.

Kemben

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if you use online wallet, you can try save your money on software wallet(multibit, electrum,etc)
no one is safe on the internet.

pjsonowal

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I my opinion sending all your bitcoins to paper wallet and storing it there is the safest way to keep your bitcoins... Whenever i get ROI i send the returns to my paper wallet and sit back in chair heating up some cigars

notlist3d

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Well you can do paper wallets, this is the insert put into most coins. But without coin you get to do it yourself (I like to do my own as I don't trust something I did not generate with large sums of BTC.

If you don't like that look into other cold storage options. The main word there is cold as you do not want it to be online or have internet access when not in use. It just allows it to be more of a risk of getting virus or other bad things.

Last is hardware. These are not cheap in many cases but things such as trezor are much more secure then a hot wallet.

Bluto

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Quote from: achow101 on September 28, 2015, 02:52:46 PM

Other than physical wallets, an offline computer that never has and never will be online using Bitcoin Armory would be very safe.

Does anyone use paper?

PolarPoint

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If your objective is to store bitcoin, the best way is to reinstall the operating system of a computer, download electrum and then go offline. Install electrum, write down the seed and copy a few bitcoin address generated. Keep the seed in a safe place and copy the list of addresses as a text file on a usb drive. Then format the whole hard drive. You can now send coins to those addresses.

achow101

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Other than physical wallets, an offline computer that never has and never will be online using Bitcoin Armory would be very safe.

Mickeyb

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Quote from: pilscoop on September 28, 2015, 01:39:10 PM

Other than physical wallets

Well if you don't want to use physical wallet then your bet are paper wallets. Make sure that your computer is not infected though. One of the drawbacks of the paper wallets is that they are hard to manipulate. Paper wallets are good if you will store your coins and not touch them longer periods of time.

Physical wallets like Trezor are because of this much more convenient because you can move your coins as you want and as many times you want!

gon

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paper wallets, hardware wallets like trazor, ledgerwallet are good option
other option as suggested above might be saving you wallet data on USB stick and keep it safe

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