Topic: Where to store your keys? - page 8. (Read 1763 times)

When a single seed phrase can generate as many as possible keys and addresses, seed phrase easy to write down as they are made up of only words, rather than characters private keys are made up of which are long and hard to write down. Or did you meant seed phrase instead of the keys? Because it is better to backup the seed phrase.

Safe keeping of 2000 BTC? 2-of-2 multisig hardware wallets is perfect for me, and if I like, I can make it 3-of-3 to make it more secure for me.

If I had 2000 Bitcoin then definitely I would be capable to handle it. Normally I have been using Ledger Nano X, So I think it's enough to store 2000 Bitcoin. But definitely, I will use Multiple wallets with or without the same seed. What device or software are you using to store Bitcoin doesn't matter, then the fact is how are you going to keep safe your seed phrase. Protecting your seed phrase is the key save your Bitcoin. Usually, I wrote the seed phrase of my Ledger Nano in 3 sheets as they provided along with the device. I keep them in 3 separate places. So even I lost one I would find another. Besides that, I wrote my seed phrase in my crypto notebook. So even I lost three sheets with the device still I can access my Bitcoin.

I put it on a piece of paper and it's on my wallet, but of course i have some back up, not to my pc because it's not safe for phishing links around the internet and since its very old its quite skeptical to store, so i decided to have backup on a piece of plate made in steel because on that way i can assure no matter what happen my keys still fine.. Even Water, fire as long as i know where did i keep it no worries because it's totally safe.. 

Yes, recording in a personal diary will be the best place to store the keys and other important data that is related to us. Maybe the safety box will help us to keep that data so we can gather all important information about us but do not tell to people who we do not trust.

A ledger wallet can be a good place to keep the coins so we can take that Ledger wallet together in the safety box. I think we can rent the safety box from our banks so that can be safer for us from the thief.

Personally I used to write down all my private keys to my personal diary but instead of one copy I've write it down to two and keep it safe by putting it in a vault and portfolio which I preferably the portfolio that is a fire proof. I am afraid to make leave any copy of my security keys in my email or any possible digital platform that could be use to save any security phrases. I do prefer to save my crypto assets via hard wallet though I don't own bitcoin at all but of course I used to choose to protect my altcoin assets at any means because this is still my assets.

the best option in my opinion is to store the key only by recording in a personal diary there are many keys that are stored in addition to bitcoin assets, such as email passwords..and also always maintain confidentiality by providing a foundation of knowledge to one of our families that we can believe..

So most people agree that you need a hardware wallet.  But where do you store your seed phrase is the most important thing here.


Again, if you write it on paper, where do you store it?  Let say you write it on paper and store it in your apartment or house.  Will it just be one copy?  Will you break the seed into two pieces?  How many other locations do you need the physical copy to be?  I heard people say you need to have 3 physical locations in case something happens in one location.  But the more locations you use, the more chances someone can get access to it.



The bank safety deposit box seem to be like the best option I think. But you have to break the seed into two pieces... then make two copies each so you need 4 safe deposit boxes.  But what happens if the government gets accessed to it due to some reason, then you are screwed.  So it seems... the best possibly solution would be still keep those seeds in the safe deposit boxes, but also keep a copy of a seed at your apartment/house and a close relative... but then you make sure you have a 25th word passphrase?  But where would you store that?  Certainly not in one of the bank safety boxes.  So seems like you probably could give a copy of it to a relative but not the one you gave your seed to? 



Then you do have a concern if like what if your relatives ask each other hey did so and so give you paper words etc and then they literally have the seed and passphrase together.  But for now, let's ignore that. 



So it seems like you probably should put that 25th word passphrase in a usb drive that is password protected but also type that seed in your password manager?  Do you ever write it on paper?  If you do, certainly not in put it in your apartment/house?  I know people say avoid using password managers for putting your seed... but wouldn't putting your passphrase there be safe?  Thus even typing in your passphrase in the password manager and uploading it to the cloud such as dropbox or google drive?  Because that passphrase by itself isn't going to do anything unless they have the whole seed.  Thoughts on this?

Very basic thing once you stepped your foot into this market or current trend with cryptocurrency. Private keys is just like the heart of your wallet and once its been exposed to other people then expect that they do
have full access on all assets inside of it thats why you should really take care of it no matter what.

Storing of keys?  Whether its;

1. Handwritten on a paper
2. USB
3. Hardware wallet
4. Cloud storage(isnt suggested)
etc.

Doesnt matter which one as long you do able to protect it on other peoples awareness.

Private key is important in the world of cryptocurrency because if your private key is hacked then all your cryptocurrency will be hacked. So I write it down in my private key diary. I login with the diary when I need it.

I prefer Ledger wallet.

It's also much better to have cold storage wallet that hasn't been linked to the internet and print the private key of that wallet || address.
into a paper and storing that paper somewhere safe where no one will access it except you.

Even if I had 2000 btc, I would not go to space to store them and do it at ground levels. This question had been a headache since btc broke $1k as 2 million was also a big number to protect then. I would turn my storage into pieces at first by heading towards mixers because keeping them all at one place would not be 'secured' at all and would also let them traced. I would use Ledger or Trezor if I would store them at one place, or go for cryptosteel to store many wallet seed phrases or private keys and then lock them in a bank's locker. I am not that person who would spend on security more than what I have to safeguard my investments as even a bitcoin core wallet with a very strong password would give me the same security 'till' I do something which leaks my private key or wallet seed.

With the current Bitcoin price at $64k, of course if we have 2000 BTC we are already rich. If we are rich then we can buy a sophisticated security
system and can also buy a good safe-deposit box to store hardware wallets and private keys. Then always have a backup private key and store it
in a different place, and don't let other people know where we store private keys. I also will not store my Bitcoins in one wallet if I have 2000 BTC,
at least I will store it in 4 different hardware wallets. That's to anticipate if something bad happens, I will not lose all the Bitcoin I have. The most
important thing is that we don't make the mistake of telling other people where to store the private key. And don't tell anyone if we do have
2000 BTC, because if someone else finds out it will be dangerous for us. We will be the target of fraud or theft, so we have to be careful in keeping
the Bitcoins we have.

In my opinion, the vaults appeal to certain investors.

Not everybody can afford to pay the crazy fees for the security they provide. That said, 2000 Bitcoins is an amount that whoever owned it should have no problem paying to ensure its security. You'd rather want to be able to sleep at night, knowing that your assets are secure than runt he risk to be left without it. In my view, with 2000 Bitcoins the vault is by far the safest option! At least that's what I'd do 

2000 bitcoin then i will save it in stash, for back up maybe private key i bought a lot of stash and save it in my house. I think if i hold 2000 bitcoin then i am very rich, and wouldn't live in an ordinary house and already have more security system. With that i think i already safe as long i am not made a mistake to trapped into we know "hacker trap" with its more than thousands ways to hack people.

Yes, but how can you know that something has happened to the boxes? (So that you could rewrite the damaged box's paper with the back up's)

So, there you go. Even that way, there're people who know what you're doing. You need to find a way in which no one knows you have something to hide, such as a seed phrase. But, even if they do, to not know where you have that thing you want to hide.

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If you want to divide a seed phrase, don't do it that way. Instead, use multi-sig or the Shamir Secret Sharing Scheme.

Do people think the strongest idea is still multiple safe deposit boxes where you break the seed into half but make 2 copies of each?


Thus you would have 4 bank safe deposit boxes and put one piece in each of the safe deposit boxes?  So in case something happens to one box, you still have one copy of the seed at another safe deposit box?


But one big issue I have with this is if say the government decides to freeze your accounts and get your safe deposit boxes in your name, well they would have it all there.  So that would be one big issue with this right?  But assuming you aren't that type of person, then wouldn't it make the most sense?

This is also a terrible solution. Human memory can be very fallible. You should always have a backup of the mnemonic in case you forget any of the twelve words. It'd be really dumb of you if, during your way to prevent theft, you lost yourself your money. There are many cases where the users simple forgot 4-5 words. While, it's still recoverable, it may be expensive and there's no point of going through all of this stressful procedure.

I mean storing your private key in your brain, keeping it to yourself alone.

2000 bitcoins is a lot for me. I will most likely sell some of it and exchange it for property, or some other physical thing that can be enjoyed.
however, if I have 2000 bitcoins, and no one knows about it, I might as well save the Private Keys I have on some external hard disk, and store them in a passworded Winrar. however, I'll probably keep some of those external hard disks in a few different places. well, i think that's enough if i think only i know that there are 2000 bitcoins in it. besides, in my environment, cryptocurrency is still very foreign.

Why the bloody hell should you store your money in your heart? And how?!

This sounds terrible. Someone will know that it's you hiding this personal information and can access it. The problem with this kind of money, is that no one should know where you're hiding your personal information. Especially if they find out you're having 2000 BTC. You'll, then, have trust issues.