I'm curious about your motivation for seeking a 'platform' to store your cryptocurrency. Instead of relying on a third-party platform, why not consider using your own wallet? I suggest opting for a non-custodial wallet with open-source software. A superior alternative would be a hardware wallet like Trezor, which is also open source. By using a hardware wallet, you would have complete control over your funds, unless your seed is compromised. Therefore, I strongly recommend using a hardware wallet and avoiding any platforms that claim to offer secure storage for your cryptocurrency.
Topic: Which platform is safe to store Bitcoin and can’t be hacked ? (Read 388 times)
I think I’ll use electrum then do more research on Trezor as I can’t afford an hardware for now.
Your coins won't automatically become prone to hack by using Electrum or Trezor, especially Trezor, you have to keep it in mind. The most important part is, how are you going to safely save your seed phrases. You should keep it very safely, so safely that someone other than you, shouldn't have access to it. Be sure that your PC is clean from viruses, trojans, trackers, etc. Be sure that your device doesn't contain any wireless hardware and is completely offline. Then write down your seed phrases on paper or on steel cassette.
If you want to buy a hardware wallet, then I recommend you Passport wallet over Trezor.
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
You told about Binance whice offers custodial wallet. And remember every custodial wallets are not secured. Always remember "Not Your Keys, Not Your Coins". So it's better to use non custodial wallet like Electrum. Trust Wallet is also a non custodial wallet. To be safe always keep your secret phrase in a secure place. Again if you have a huge amount of Crypto assets then I will suggest you to use Hardware wallets like Ledger Nano X, Trezor etc. 
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
There are no completely secure crypto storage platforms. If the wallet has not yet been hacked, it only means that the hackers have not yet figured out how to do it. For the time being. Therefore, it is safest not to store all crypto assets on one platform, which allows you to diversify your risks. Dividing by Blockchain, Binance and Trust wallet is not such a bad decision. The probability of hacking all platforms at once is unlikely, and in case of loss, at least a part of it will remain with you. The bad thing is that these are online wallets, which increases the risk of their hacking, especially since this has already happened to them. Probably the best solution would be storage on cold wallets, or even better on several multi-signature wallets at once. For hardware wallets, too, may not be the most secure way of storage lately (because of the risks associated with manufacturers), and a multi-signature on 2-3 devices will create additional reliability. Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
All wallets are vulnerable to hackers, no wallet is completely secure. But using a custodial wallet or exchange wallet is even more risky because we don't have full control over our assets. In addition to the possibility of being attacked by hackers, we are also at risk of having our assets frozen, having our assets confiscated without reason, and making it very difficult to get our accounts back.
So stay away from the wallets you refer to and learn about non-custodial wallets. But remember, the safety of your assets is 99% dependent on you, no matter what wallet you are using.
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
All wallets are vulnerable to hackers, no wallet is completely secure. But using a custodial wallet or exchange wallet is even more risky because we don't have full control over our assets. In addition to the possibility of being attacked by hackers, we are also at risk of having our assets frozen, having our assets confiscated without reason, and making it very difficult to get our accounts back.
So stay away from the wallets you refer to and learn about non-custodial wallets. But remember, the safety of your assets is 99% dependent on you, no matter what wallet you are using.
So far hardware wallets are much more recommended than some online wallets for example such as exchanges, exchanges or the like, even though basically this is a place where people always access the place, but most now choose hardware wallets to be their asset stay safe, and have full access to the assets they have. and don't be careless in taking care of it.
Well, there will always be a risk. Choosing a hardware wallet would make it prone of being stolen especially if your 'keys' are in there or if happened that bad people knew it. Putting it on exchangers and other online platforms make it prone to hacking,malwares, and the likes. So it does depend to the investor on how secure it will be. It is our money we are talking about therefore its security depends on us. But in comparison to which would be the best, I am using hardware wallet for years and fortunately, I did not encounter any problem. But as others have said, electrum is the best option. So you choose depending on your investment routine.
I think I’ll use electrum then do more research on Trezor as I can’t afford an hardware for now.
Electrum caters to both mobile and PC platforms, so you can enjoy a high level of security even while on the move. If you still feel the need for extra security measures, you can enhance it by utilizing popular hardware wallets such as Trezor, Ledger, and others.
Ledger is a poor option for a hardware wallet.If you feel the need to enhance electrum's security, you should get a spare device that will form your offline, cold storage (air-gap). It is safer than a hardware wallet.
- Jay -
Hardware Wallet is the safest device to store your crypto because it can be considered an air-gapped device. Electrum is also safe if you knew exactly how to protect your private key/seed phrase.
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There are HW that are really airgapped and for communication with online wallets they use QR codes or SD cards, but most such devices cannot be called by that name because sooner or later they have to be connected online, whether it is firmware or coin app updates. A regular old laptop turned into an airgapped device is safer than any HW you can buy today, assuming you do everything right.
Electrum as a hot wallet can be safe, but I would never recommend that such wallets be used by those who have a low level of security on their devices, whether it is personal computers or smartphones. Any crack, torrent or something similar that is downloaded online to such a computer may contain malware/keylogger or RAT (remote access trojan), and then the attacker has full access to everything on such a computer.
Electrum remains the top choice.
When it comes to security, Electrum is widely recognized as incredibly safe and has gained the trust of countless individuals for over a decade. It is an open-source wallet that supports multisignature functionality, and what I particularly appreciate about Electrum is its lightweight nature. This means you don't have to download hundreds of gigabytes of blockchain data to stay connected online.
Electrum caters to both mobile and PC platforms, so you can enjoy a high level of security even while on the move. If you still feel the need for extra security measures, you can enhance it by utilizing popular hardware wallets such as Trezor, Ledger, and others.
When it comes to security, Electrum is widely recognized as incredibly safe and has gained the trust of countless individuals for over a decade. It is an open-source wallet that supports multisignature functionality, and what I particularly appreciate about Electrum is its lightweight nature. This means you don't have to download hundreds of gigabytes of blockchain data to stay connected online.
Electrum caters to both mobile and PC platforms, so you can enjoy a high level of security even while on the move. If you still feel the need for extra security measures, you can enhance it by utilizing popular hardware wallets such as Trezor, Ledger, and others.
I just repeat that no one can guarantee 100% security for each wallet that will be selected. But of the three types of storage that the OP mentioned are absolutely not good storage to serve as a place to store assets.
For daily use i.e. for low amount of assets then I think any of the mentioned wallets are still worth considering. But of course when the OP wants to use it as a long term storage wallet then some hardware wallets and non-custodial wallets are recommended.Since small habits can have a big impact, I mean they will become permanent habits.
It's better to use another wallet that is much better than Trust Wallet.
Apart from the Trust Wallet mentioned by the OP, there is binance.
The Electrum multi signature wallet is also secure enough for long term storage ... ...
Electrum and Bitcoin Core can indeed be trusted and have proven good as asset storage among other wallets that function the same as these two types of wallets. 
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
In my opinion, no online platform is 100℅ safe and cannot be hacked. As long as it is digital, online, then there will be the potential to be hacked. Even though each platform has actually tried various things by improving its security system to avoid the threat of cyber crimes such as hacks and others. However this doesn't guarantee 100℅ that they won't be hacked.If you really want something more secure, then hardware wallets are the answer, but you also have to be careful because there is the possibility of malware, phishing or other things that can also be at risk of losing.
After all, storing bitcoins online is really too risky, and hardware wallets are still the safer option. But let's not forget what is happening with Ledger, and we also won't know what will happen to other hardware wallet providers. These impacts are all coming from the government, so it is safe to say that finding the safest place for bitcoin is very difficult these days. I am still using a hardware wallet, but with what has happened, I feel more insecure than ever, I really don't know what to believe and what is the safest solution.
There are no safe platforms. The safest way to hold BTC is not to hold them in a wallet or cold storage.
And even then you are not really safe because you can lose your device and stuff.
So it's just a different type of risk, but I think it's safer to just hold it in your wallet because then BTC belongs to your and not the platform and no one can't take it away unless it will be your fault.
But I think if you want to hold a small amount of crypto on the exchange, then balance will be the safest option because it's already too big to easily go down.
And even then you are not really safe because you can lose your device and stuff.
So it's just a different type of risk, but I think it's safer to just hold it in your wallet because then BTC belongs to your and not the platform and no one can't take it away unless it will be your fault.
But I think if you want to hold a small amount of crypto on the exchange, then balance will be the safest option because it's already too big to easily go down.
I echo the suggestion of others. A hardware wallet is much better.
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We used to think so, but I think that after everything that has happened and what is currently happening with some hardware wallets, we should no longer treat them in the same way as before. The only way we can be somewhat sure that someone will not hack us is to create an airgapped wallet, and after that to protect the backup by saving it in the safest possible place, noting that we should always have one additional backup that would be stored in some alternative location. Everything else is a risk, and the only difference is how big that risk is.
Unfortunately, yeah. The recent controversy involving a hardware wallet has made me realize these wallets aren't as simple as it all seemed after all. And now the other popular brand is recommended almost without competition. But who can actually tell when it will have its own controversial firmware update?
Creating an air-gapped wallet is definitely much better, especially worth looking into more seriously with the recent hardware wallet controversy. It seems a little bit complicated, though.
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
I'm writing probably late and I'm sure someone has already answered you but Binance is absolutely not the place to hold your Bitcoins because it is a centralized platform and you do not have the private keys to access your funds but only an account. You should start looking at hardware like coldcard or bitbox.
Not only Binance but other online exchanges as well. There is no 100% safe and hack proof sites online. It is only a matter of time before the site is breached and gets hacked, so it is safer to put funds in the wallets stated by the earlier replies.
According to Investopedia these wallet are known best:
Best for Security: Trezor Model T
Best for Integration: Ledger Nano X
Best for Advanced Bitcoin Users: Electrum
Best for Beginners: Exodus
Best for Mobile Users: Mycelium
source
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
In my opinion, no online platform is 100℅ safe and cannot be hacked. As long as it is digital, online, then there will be the potential to be hacked. Even though each platform has actually tried various things by improving its security system to avoid the threat of cyber crimes such as hacks and others. However this doesn't guarantee 100℅ that they won't be hacked.If you really want something more secure, then hardware wallets are the answer, but you also have to be careful because there is the possibility of malware, phishing or other things that can also be at risk of losing.
Dear op you are absolutely right, and that's why the slogan of most of the members of this platform say "if you do not own the key then you do not own the assets" and i know that's totally imply on Binance and so we should avoid to store big amounts of assets on Binance wallet because who knows what will happen to these exchanges over night and many people had learned this lesson the hard way by losing there assets in FTX exchange.
Plus, no wonder this slogan is also imply on trust wallet but in the context of positive signal because no dou t we do own the key but we do not know what is laying under the interface of Trust wallet (mean in coding) its means trust wallet is close source wallet. To store your assets for long term you should avoid any of these platform and directly goes for Hardware wallets but if you still wants to prefer these platform then chose those on which you will have full ownership of the account and the platform will not be close source in that way any vulnerability in that platform (like electrum) can be easily detected by there developer. And tbh i was not aware of the hack attempt on Trustwallet so thanks for the info but please try to provide source of your statements.
Plus, no wonder this slogan is also imply on trust wallet but in the context of positive signal because no dou t we do own the key but we do not know what is laying under the interface of Trust wallet (mean in coding) its means trust wallet is close source wallet. To store your assets for long term you should avoid any of these platform and directly goes for Hardware wallets but if you still wants to prefer these platform then chose those on which you will have full ownership of the account and the platform will not be close source in that way any vulnerability in that platform (like electrum) can be easily detected by there developer. And tbh i was not aware of the hack attempt on Trustwallet so thanks for the info but please try to provide source of your statements.
I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
I'm writing probably late and I'm sure someone has already answered you but Binance is absolutely not the place to hold your Bitcoins because it is a centralized platform and you do not have the private keys to access your funds but only an account. You should start looking at hardware like coldcard or bitbox.
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