Topic: Which is the best Bitcoin wallet to hold my Bitcoins for long term (Read 9086 times)

Armory supports cold offline air-gapped signing.  Cold and Air-gapped means your computer storing the private keys is never connected to a network, wifi, ethernet, internet.

So you setup a cold offline Armory install (you could use a Raspberry Pi single board computer), you generate the private seed on this computer, and the matching xpub.  This cold offline computer does not require a copy of the blockchain.  You save this xpub to a brand new factory sealed USB drive (or QR encode it, more later)

You use your laptop/every day computer with a fully connected full node + Armory + xpub.  This online computer needs to be online, and have a synced blockchain in order the generate spending transactions.  As your online computer has the xpub, it can generate valid spending transactions, but they're invalid until they're signed by the correct private key.

With a few tools you send the unsigned transaction back to your cold airgapped (you could QR encode the unsigned transaction on your online machine, read the QR on your Pi with this this camera), then decode the photographed QR code)

online machine

cold offline Pi

from here you sign this spending transaction with your private-keys-containing-offline-Pi and then send the signed transaction back to an online device for broadcast to the bitcoin network.

The idea of passing the unsigned/signed transaction back and forth between the cold-airgapped-offline-machine and your everyday-online-machine doesn't appeal (you might choose a one way method like a closed session writable CD-ROM rather than a USB drive) but my advice would be to QR encode the signed transaction on your Pi, scan the QR with your phone, and paste the transaction in a blockexplorer like https://blockchain.info/pushtx via your phone.

Can you expand on this?

I also recommend this wallet. I just added some secjre protection like confirmation code, keyword if I would forget my password because once you forget your password, there's no way to take back the wallet.

I hope that was a joke.

You should definetly go with a hardware wallet.
Even better than Paperwallet in my opinion.

I use a cold wallet running armory, with multisig. I don't usually withdraw, so this doesn't bother me, only hackers. If I really do need to withdraw, I have a pre signed transaction on Google Drive.

Using a brain wallet especially for long term, is extremely hard. Especially when you are not reciting it every few days, at the least. Your password should be recited at least once a week.

For me long term without maintenance is Brain wallet.
Make sure you know how to make a good long password entropy and remembered it.

I've held my btc on a paper wallet for the past few months now, withdrawing with mycelium & depositing normally 

Only risk is someone breaking in to the house and stealing it (low) or me throwing it out accidentally (high)

It depends on how much Bitcoins you own and how would you like to segregate it for long term holdings and spending. For long term holdings, I'd suggest you have an encrypted pen drive with a Linux distro installed, having Armory installed to cold store your coins and disconnect it from the internet, also make a paper backup of your private keys and store it in a secured place. Apart from this you can also purchase a hardware wallet if you have lots of Bitcoins which you are paranoid about losing. Try Trezor or ledger hardware wallets.

I would suggest to use Trezor wallet for BTC holdings, so you can be safe  Trezor give you the peace of mind 

I have been looking more closely into Ledger and it seems like a solid way to store your bitcoins for long term. With the nano and the hardware wallet the size of a credit card. I would say they all your bases covered when it comes to convenience and any compatibility issues that you would encounter with other vendors when trying to withdraw from the wallet.

People tend to forget that a paper wallet has, at the very least, to be printed. So yes, you do have to worry about a paper wallet being hacked.

If one thinks about the usual route to print a paper wallet (1.secure offline pc/environment, 2. software like Armory/Electrum/Core or bitaddress and 3. a printer) you have a lot of ways for a hacker to obtain your coins, or to make you lose them permanently.
On 1. your environment has to really be offline and the software and RNG must be secure; 2. same goes here; 3. you can't have a networked, or "smart"/modern printer, some may be exploitable.

A good read on this problematic can be found here.

if you're planning on keeping bitcoins safe for 1 year, i definitely suggest a paper wallet, because you would never have to stress about getting hacked and losing your money, just keep sure to keep that piece of paper safe.

Which type of wallet you need ?
offline or online ?
offline wallets are much recommended by me. Use Bitcoin core and use it as your wallet for long term holdings and it is very safe if you use it in right way.

Like already mentioned.. I would go with a paper wallet or hardware wallet to store them safely.

i have been using electrum hardware wallet where i keep my savings bitcoin as they are my hardware wallet and i have kept the seed key securely, and when ever i want i can send or receive it, no down time. for doing gambling in sportsbet i use online wallet coinbase and xapo .

This is asked all the time.

Go with Armory - print your key, laminate it, and store it somewhere safe.

I looked at many different ways to store my coins long term. I finally decided to use Electrum in conjunction with a Ledger Nano. I use the portable version of Electrum so I can keep copies of Electrum on encrypted USB drives and the actual Electrum wallet can only be un-locked with the Ledger Nano.

For a long term I would suggest hardware wallets like trezor and as well the ledger which cost cheaper.

There is lot of good ones that you can use, but instead of tell you some of them, i can tell you that never never stored all of them in just 1, i mean the best wallet for a long term is to split your bitcoins into some of them, you know... never put all the eggs on the same basket... so just choose some of the best one and use them all...