Where to store bitcoin with safe? | Bitcointalksearch.org

Mike Mayor

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Make paper backs ups and store them in t :Dhe safe or somewhere like that. Paper Backus are best and should have your private keys written or printed on them.

Quote from: kelvinyong on November 27, 2017, 02:39:33 AM

What are the disadvantages and threats of storing your cryptos in exchanges?
Btw, does wallet like nano ledger accept any amount of cryptos without having transaction fees?

The exchange could close down or run. It's ok for short periods of time but don't leave it there for days or weeks on end.

Quote from: mikey08 on November 30, 2017, 04:40:30 AM

I am new to crypto.

I have money to invest not a lot.

I want to do long term trading as well as short term. Most of my funds would be tied up in several like btc, eth, etc but a few dollars amount i want to tied up in swing and day.

I guess the online exchanges would be the best bet, right, vs a hardware, I am looking to compound my money. so I heard average of day or swing is about 1 percent . That would be lot of money in the future

I have not traded anything yet, because I am having problems getting verified at coinbase ( only 50 dollars the max) limit and few others seem like they dont want to take me.

Where are you hearing about 1%/day investments? Sounds like a scam/Ponzi be careful.

liuka

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there are many wallet you can use it like blockchain.info (online wallet) or electrum ( hardwhare wallet)
Is it safe at the moment.

aizen10

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

i strongly recommend you to use hardware wallet for more safety, but if you cant afford to purchase hardware wallet for now you can use offline wallet too, like electrum bitcoin wallet, this wallet has a cold storage feature for more safety of your bitcoin than the other web wallets out there. i use this wallet for almost 1 year so i strongly recommend this electrum wallet, but its up to you if theres any other bitcoin wallets that suits to your needs.

trumpnoimee

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Vote https://shop.trezor.io/

popeye95

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Should be a method that require an encrypted wallet, then encrypted it again by software and save in to USB and online upload file.

TaKlarPH

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asicvault.io Just searched for this at google weeks ago because the internet of today when it comes to cyprtocurrency hacking is here. So heah we need to be aware of this so I suggest you go to Google or ask at different forums that you think can help you about diiferent undercover USB wallet to store your bitcoins.

mikey08

newbie

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I am new to crypto.

I have money to invest not a lot.

I want to do long term trading as well as short term. Most of my funds would be tied up in several like btc, eth, etc but a few dollars amount i want to tied up in swing and day.

I guess the online exchanges would be the best bet, right, vs a hardware, I am looking to compound my money. so I heard average of day or swing is about 1 percent . That would be lot of money in the future

I have not traded anything yet, because I am having problems getting verified at coinbase ( only 50 dollars the max) limit and few others seem like they dont want to take me.

thinkpad99

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Activity: 654

Merit: 250

Quote from: olehgol260 on November 27, 2017, 03:49:19 AM

Quote from: kelvinyong on November 27, 2017, 02:39:33 AM

What are the disadvantages and threats of storing your cryptos in exchanges?
Btw, does wallet like nano ledger accept any amount of cryptos without having transaction fees?

The first question was already answered here: OP asked for a long-term storage and exchanges are more likely to close/be hacked/whatever what may lead to losing the money, as exchanges store your private keys. The answer to the second question I would like to know as well.

This is the most common problem for new users. They protect their wallets badly, and the savings have quite a lot. You do not need a good hacker to steal all the mediums if the protection is what it is.

digimarketblockchain

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Cheapest - Paper wallet, store them carefully
safest - hardware wallet

olehgol260

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Quote from: kelvinyong on November 27, 2017, 02:39:33 AM

What are the disadvantages and threats of storing your cryptos in exchanges?
Btw, does wallet like nano ledger accept any amount of cryptos without having transaction fees?

The first question was already answered here: OP asked for a long-term storage and exchanges are more likely to close/be hacked/whatever what may lead to losing the money, as exchanges store your private keys. The answer to the second question I would like to know as well.

kelvinyong

newbie

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What are the disadvantages and threats of storing your cryptos in exchanges?
Btw, does wallet like nano ledger accept any amount of cryptos without having transaction fees?

Dudeperfect

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I would never advise you storing on any exchange even if you are getting any interest for it because irrespective of your security precautions, there is a chance of compromisation of the database at the server side so you can either use a securely generate paper wallet (don't forget to maintain backup copies at various places) or you can buy reputed hardware wallets like Trezor wallet (again, you must maintain backup copies of seed key). Keeping your funds offline helps you to avoid hacking attempts.

godfredmanu

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Use cold storage to store your btc if your aim is to invest in the longer term. Keeping your money online is very risky. What if the exchange go out of business.

p3rplexamous

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Never store long term on an exchange. Is it convenient? yes, especially with all the forks and whatnot. But under no circumstances would I ever leave on an exchange. Lots of new people here dont remember what it was like to lose money on Mt Gox, or even BTC-E, so I say it again, DO NOT STORE YOUR MONEY ON AN EXCHANGE. Buy a hardware wallet, learn how to use it, and keep it in a safe place. I suggest Ledgers Nano S, and right now they even have a deal for 21% off because of Black Friday. Check it out. https://www.ledgerwallet.com/products/ledger-nano-s

yeezycheezy

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for me im using coins.ph but i still dont have bitcoins . they say its safe there in coins.ph because theyre popular but dont take my advice serioously im just a newbie but for me coins.ph

Boseda

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

The best way is to store your Bitcoins in a safe wallets never connected on the Internet. Something like a hardware wallet or maybe Electrum put on a USB stick. Paper wallets could be good options too...

instead storing your coins on exchanges is very risky! Please avoid doing it!

cuenzy

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Fast, Smart, Trustworthy

Hardware wallets are the straigtforward option but you should take into consideration the amount you store. Also you need to have backups for your private keys that are offline or encrypted online. Right now I couldnt suggest one. but in case you would like to access if anywhere and anytime I think this is a good way and like they said never ever store it in online exchanges.

YinShuiSiYuan

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Quote from: fredamankus on November 26, 2017, 04:50:59 AM

A friend of mine told me the safest way to store your valuable bitcoins is the hardware wallet such as the Nano ledger.

Cause that is true, exchanges are the weakness possibilities to store coins cause they are the easiest to lose them so hardware is best option.

fredamankus

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A friend of mine told me the safest way to store your valuable bitcoins is the hardware wallet such as the Nano ledger.

aardvark15

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

I don’t fully trust any online exchange with Bitcoins especially the ones that control your private keys. I would only put Bitcoins or altcoins on those exchanges for trading and even then I would only put a small portion of my coins there.

The safest place to store Bitcoins or altcoins is in an offline wallet. I like using paper wallets myself but any offline wallet is probably good since you basically have full control of the private keys and theoretically no one else has access to them.

kuroman

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The safest way is cold storage, on a separate laptop/hard drive encrypted, or even paper note, Trezor and Ledger are mentioned by others are really good. it all depends on the amount you have and how often you use it, a combination all above is the best thing you can do, + a Hot wallet with small amount transaction such as Bitcoin.info for example with a strong password obviously.

ToTheMoon$

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

Try to buy a ledger nano, these are the best nowadays.

ItBeginInAfrica

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I store my bitcoins in blockchain.info and never have a single problem

Goosebump

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I would suggest a hardware wallet. Both Trezor and Ledger are very user friendly and even the most novice of crypto investors can manage their way around them.

I believe the Ledger is actually on sale right now for Cyber Monday so this might be a great time to grab yourself one.

Trezor : https://shop.trezor.io/

Ledger Nano S : https://www.ledgerwallet.com/products/ledger-nano-s

marky89

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

You should definitely avoid keeping them on an exchange. A few years is a lifetime in the cryptocurrency space, and your exchange could easily be hacked and shut down during that time. Plus, trusting a third party to take custody of your BTC sort of defeats the purpose of Bitcoin, which is intended to allow you to "be your own bank."

The easiest solution for a newbie is just to buy a hardware wallet like a TREZOR or Ledger Nano S. I would suggest only buying directly from the manufacturer:
https://trezor.io/
https://www.ledgerwallet.com/

Personally, I keep my long term cold storage on an air-gapped PC. But this method of cold storage is becoming obsolete now that hardware wallets are becoming the norm.

Frollama

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Use a cold storage wallet like Ledger NANO S

Intensity

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Quote from: p3rplexamous on November 25, 2017, 01:20:10 PM

I always suggest if you have a reasonable amount of money, anything over a few hundred dollars, to store via a hardware wallet. Ledger, Trezor or Keepkey make great products, however I believe Ledger Nano S's are the best and most affordable option. They also offer a great list of altcoin support and add new ones constantly and great Bitcoin hardfork support. This week they are also offering 21% discount! Check it out.

https://www.ledgerwallet.com/products/ledger-nano-s

Ledger Nano S all the way. Affordable price, good history, and easy to use. If somebody has over $1000 in crypto, I personally feel that a hardware wallet is a must have item. Plus! It makes a great stocking stuffer

p3rplexamous

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I always suggest if you have a reasonable amount of money, anything over a few hundred dollars, to store via a hardware wallet. Ledger, Trezor or Keepkey make great products, however I believe Ledger Nano S's are the best and most affordable option. They also offer a great list of altcoin support and add new ones constantly and great Bitcoin hardfork support. This week they are also offering 21% discount! Check it out.

https://www.ledgerwallet.com/products/ledger-nano-s

darkangel11

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Don't let others control your BTC -> self custody

Buy a hardware wallet or a device that has access to Internet via a cable, like a dedicated PC. Keep it clean and don't leave it connected for long. When you decide to use your money go online, send the transaction and go offline It will limit the window in which your computer can be accessed and your cable connection will keep you safe from possible wifi hacks.
Don't get me wrong this is still an overkill in most cases, but if you're storing coins worth $10k or more it's really not a bad idea to spend $500 on a device that will allow you to sleep at night.

moooonu

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Don't even try to store your coins on exchanges. Try some wallets which you have control over. Try paper wallet, ledger wallets to save your bitcoins.

CryptoX006

newbie

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I would advise using the ledger wallet. One of the safest options in my opinion!

ikecuit

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A hardware Ledger wallet is best if you need to carry it around with you and you cannot store a paper wallet safely at home.

OmegaStarScream

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An encrypted paper wallet (stored in a safe place) or a hardware wallet are the best options for long term storage.

HabBear

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Quote from: MikePCarr on November 25, 2017, 08:22:27 AM

I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

The safest place for storage is in an offline hardware wallet. Check out what's available from Trezor or Ledger. Both are world renowned for their security.

How much are you storing?

Str1x

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You know there is a search button on this forum right?

I actually made a tutorial about it: https://bitcointalksearch.org/topic/m.24746679

To get back at your question, read these topics:
https://bitcointalksearch.org/topic/safest-way-to-store-your-bitcoins-1911604
https://bitcointalksearch.org/topic/where-to-store-bitcoins-safety-for-a-few-years-1330899
https://bitcointalksearch.org/topic/where-to-keep-bitcoin-at-the-safe-place-2368953
https://bitcointalksearch.org/topic/how-to-store-bitcoin-for-long-term-1983707
https://bitcointalk.org/index.php?topic=1678794.0;all

Alphredis

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Never Store the Bits in an exchange, if it get hacked/closed anything else your coins are lost. So the best way ist to store theme on an paperwallet or on a desktop/ledger wallet...

Alphredis

MikePCarr

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I'm buying BTC from an investment point of view to keep it for a few years. In this scenario, what would you advise and will storing the coins at the exhange be wise or should I store them somewhere else.

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