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 391 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 so about 2 million tokens of BNB (worth about $570 million) was withdrawn.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.
First, there are not any one place guarantee with your bitcoin assets holding is secure from hacking but most recommended use hardware wallet such as Ledger or Trezor for saving your assets. But if you want save Bitcoin assets in hardware wallet you need purchase or buying Bitcoin on exchange market before sending to hardware wallet, here important which one trusted exchange use for purchasing Bitcoin. For me, Binance is the most secure exchange cryptocurrency exchange market for saving Bitcoin although you have explain about how much fund have been hacked in their account. Indeed has local exchange market currency seems are most secure place for holding Bitcoin but better hold in hardware wallet for more secure and has by own self controlling with our assets.
Hardware wallets are the most secured of them all but that doesn't mean it's 100% completely safe, if you leak your private key your fund will disappear, do not expect your hardware wallet to do something crazy and get your funds back, it's gone for ever.
Keeping your hardware wallet safe is the main goal, forget about how secured they are, you need to write your recovery seed somewhere no one can see, and you need to be careful with what you connect your hardware wallet with, e.g. computers.
Keeping your hardware wallet safe is the main goal, forget about how secured they are, you need to write your recovery seed somewhere no one can see, and you need to be careful with what you connect your hardware wallet with, e.g. computers.
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.
Nothing is secure enough if you don't have enough knowledge of how hacking works. Let's say you use the most secure hardware wallet but don't know how to keep it secure. If you are dumb enough to write your seed phrase online or store it digitally, You are not secure anymore. Some people do worst than that. They log in to phishing websites using their seed phrase. If you can store your seed phrase securely and keep your computer trojan, virus free or don't fall for any trap. A software wallet like Electrum could be a good choice for daily use and holding a couple of thousand dollar worth of Bitcoin. 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.
Currently, you are using Blockchain, Binance and trust wallet. I don't know that much about Blockchain.com. But, I don't recommend anyone to hold their Bitcoin on an exchange like Bitcoin. If you keep your Bitcoin in a centralized wallet, It's no longer yours. Avoid using centralized exchanges to hold your Bitcoin. About Trust Wallet, This is a closed-source multi-coin wallet. They were open-source and suddenly became closed-source wallets (See quoted post by o_e_l_e_o). Moreover, they have been hacked before.
Trust wallet is not open source.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
Here is their blog post announcing they are becoming closed source about 4.5 years ago: https://trustwallet.medium.com/why-open-sourcing-android-app-could-be-a-harm-to-the-crypto-community-fb3ae1707dc6
Here are the links to their Github repositories which show they are both archived and have had no updates in 4 years:
https://github.com/trustwallet/trust-wallet-android-source
https://github.com/trustwallet/trust-wallet-ios
They outright lie on their website when they claim to be open source. If being closed source isn't enough to convince you to stay away, then them outright lying to you should be. They are also owned and operated by Binance, so you can guarantee you will have absolutely zero privacy when using Trust wallet.
Avoid it.
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.
But judging on this statement, I think you don't have any idea about custodial and non-custodial wallets so a hardware wallet is the best choice for you since you can't be distinguished what's really safe for your crypto assets. Explore more in the forum to learn more about the safekeeping of your assets. Avoid custodial wallet and exchange because you don't have full control of coins!
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.
But judging on this statement, I think you don't have any idea about custodial and non-custodial wallets so a hardware wallet is the best choice for you since you can't be distinguished what's really safe for your crypto assets. Explore more in the forum to learn more about the safekeeping of your assets. Avoid custodial wallet and exchange because you don't have full control of coins!
As ETFbitcoin said, there is no such thing as absolute safety, everything is relative, and the security of your assets is entirely dependent on how you hold them. Even if you own a highly secure device, with your carelessness, the risk will still exist.
But all 3 platforms you are using are insecure and unreliable. I mean, you are giving your assets to a 3rd party to control, they can get hacked or can get greedy and steal your assets. You do not have full ownership of your assets when using centralized platforms. Learn about non-custodial wallets, especially open source hardware wallets, which are considered the best solution today for our crypto assets. Where you have full control over your property and its safety is entirely up to you.
That's such a common thing and yet so many people miss it. I know that there is no guarantee, and with 15 years or so give or take in the crypto world we have seen all kinds of scary scams and hacks and all the bad stuff, so people should be aware how hard this would be like. And yet for some reason they don't and that's a very important thing, that's very very important. But all 3 platforms you are using are insecure and unreliable. I mean, you are giving your assets to a 3rd party to control, they can get hacked or can get greedy and steal your assets. You do not have full ownership of your assets when using centralized platforms. Learn about non-custodial wallets, especially open source hardware wallets, which are considered the best solution today for our crypto assets. Where you have full control over your property and its safety is entirely up to you.
This is why I believe that we shouldn't be really considering this as a big deal, it is not going to be that easy at all, it is going to be quite troublesome. I believe that we can't really make this happen that easily, it is going to be just our own safety and security added on top of what the products offer that will make sure that it is safe, if we are not safe, no product could make it safe.
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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.The Electrum multi signature wallet is also secure enough for long term storage but always remember that you need to diversify your assets across multiple wallets as it is highly recommended that you do not keep them in one basket. You can use Electrum as well as bitcoin core, while you can also use hardware wallet. This is good option to consider besides airgapped.
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.
Even no bad upgrades like Ledger wallet with Ledger Recovery Service, the best wallet for each person is what he can afford to have it, if not free, must afford to buy it, and can use it appropriately in security and privacy.Like if I don't have a hardware wallet, I can still use Bitcoin Core or Electrum wallet with cold storage or multisig setup. Free and good to use so it is best for me.
[Guide] Secure air-gapped crypto wallet storage method
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.
Store your coins on non custodial wallets, store your coins on wallets that gives you complete control of your private keys and they don't keep backup. Non custodial wallets are the perfect for storing your Bitcoin. You don't have to be scared of hacks when you use one.
Exactly the problem of online hacks that happen through phishing or it’s like are eliminated when using cold wallets like the hardware wallet or the usb storage method. But other non custodian wallets like the hot wallets are also prone to been hacked if the user doesn’t keeps his keys off the internet. Also the hardware wallets can be compromised if the device is stolen with the pin known to the thief then they could easily access the seed phrase and the keys.
So the warning to OP is do not trust any exchanges most centralized exchange for storing your funds. Use non custodian wallets that are open sourced and also be careful how and where you store your hardware devices, seeds, keys and pins.
I echo the suggestion of others. A hardware wallet is much better. As an alternative, you might want to look for non-custodial open-source wallets. I guess you may start from there.
But this doesn't mean you are already hack-proof. You still have to strictly observe the security dos and don'ts to make sure you won't fall victim to those who try to steal to your funds. At the very least, however, you are minimizing the risk this way. Compared to keeping your funds in a centralized exchange or a closed-source wallet, your money could be stolen because of the negligence or failure of others. With your funds in a cold wallet or in a non-custodial open-source wallet, the responsibility is solely yours.
But this doesn't mean you are already hack-proof. You still have to strictly observe the security dos and don'ts to make sure you won't fall victim to those who try to steal to your funds. At the very least, however, you are minimizing the risk this way. Compared to keeping your funds in a centralized exchange or a closed-source wallet, your money could be stolen because of the negligence or failure of others. With your funds in a cold wallet or in a non-custodial open-source wallet, the responsibility is solely yours.
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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.Storage of valuable assets like Bitcoin I recommend Electrum and Bitcoin Core (desktop) and Hardware.
Then, how to use it must be well studied starting from the installation process (Electrum and Bitcoin Core) to other techniques such as avoiding going offline to a certain stage.
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.
No wallet can guarantee 100% security. However, you can use non-custodial wallets to keep your funds safe. This will give you the facility to control the funds. And you don't have to depend on anyone for your fund transfer. It will be completely under your own control. For this you can use electrum, coinomi, ledger etc. But even these will not give you 100% guaranteed security. However, if you use hardware wallets than these software wallets, they can provide some more security 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.
No centralized platform is safe to keep coins but you can use them to trade, buy and sell at instant. Don't keep your coins there. You can use them when you about to buy and sell. So the best place to keep it store coins non custodian wallets and best recommended Electrum Wallet. If you are keeping your coins in a centralized exchange platforms then make sure that "Not your keys and Not your coins" phrase should be ringing in your brain everytime.
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.
You're wrong by storing Bitcoin on those platforms that you mentioned, some of them aren't wallets like Binance exchange therefore it's wrong to use them for storing of your coins. They might be convenient for you now but when they start getting attacks from hackers or the government and they eventually shutdown you'll regret storing coin on the exchange.
Store your coins on non custodial wallets, store your coins on wallets that gives you complete control of your private keys and they don't keep backup. Non custodial wallets are the perfect for storing your Bitcoin. You don't have to be scared of hacks when you use one.
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 don't know if you have heard about the latest hack in the crypto space right now, i.e the atomic wallet hack. Also, do you know about FTX hack? Try asking google about it and you would get some information. FTX is a CEX like Binance and atomic wallet is a close source wallet like trust wallet. Now, back to the wallets.... Binance is an exchange and it uses a hot wallet while trust wallet is a non custodial close source wallet. Both are not recommendable in storing funds and you should move your assets to a hardware wallet like trezor, ledger, ellipal etc. but if you cannot afford a hardware wallet then you can download a non custodial open source wallet like electrum (only from the official website to be safe).
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, there's no such thing as 100% secure - but you can practice the best security method for the wallet you use. It's just that you should not entrust your bitcoin to third parties including centralized exchanges and closed source wallets. Use wallet according to your needs regardless of what we suggest - but you should consider wallet that gives you full custody.You can find wallet recommendations here that you can adjust to your device's operating system. Try following the steps:
Cold Storages are generally considered the most secure type of platforms to store your bitcoin, it's basically because they don't always have a live connection, wallet is online only when you connect the hardware into the system.
With an airgapped device cold storage you never need to connect your private keys to the internet. You can create and broadcast your transactions on a watch only wallet, using the wallet that contains your private keys to just sign tx, which does not require internet connection to do. 
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.
There's no any platform to use that is safe and secured than in you getting a decentralized cold storage to have your bitcoin in, you can make use of electrum wallet, get a hardware wallet or download the bitcoincore software and run your privacy nodes, remember that you can only go private from either of these means and you don't have to seek for this from a centralized exchange or institutions, not your keys not your coins.
The mentioned wallets are all custodial and your coins can be frozen or stolen if those third-party wallets decide to or are prone to hack incidence, even though they are not 100% the most secured Bitcoin wallet but then we recommend you use a non-custodial cold wallet.
You can use a hardware wallet device at least it provides some level of security since you are in control of the wallet and the keys, you can decide to use it in whatever ways you feel secure.
You can use a hardware wallet device at least it provides some level of security since you are in control of the wallet and the keys, you can decide to use it in whatever ways you feel secure.
Can't be hacked? Lol! I want to know as well.
This is a myth and there is nothing in the world that cannot be hacked. Ideally hardware wallets are supposed to be secured and offers more security than any other third party online wallet provider. But nothing can be 100% secured to be honest.
Try to keep your wallet disconnect from the internet. That will make it more secure and that's how big exchanges store their currencies.
This is a myth and there is nothing in the world that cannot be hacked. Ideally hardware wallets are supposed to be secured and offers more security than any other third party online wallet provider. But nothing can be 100% secured to be honest.
Try to keep your wallet disconnect from the internet. That will make it more secure and that's how big exchanges store their currencies.
There's no such thing as a completely "safe" platform to store your BTC. Nothing can guarantee 100% safety and security. However, using a hardware wallet is generally considered much safer than a casual online wallet (hot wallet). This is because wallets connected to the internet have a higher risk of being compromised compared to cold wallets.
For the OP, I recommend either getting a hardware wallet like Trezor or ColdCard or setting up an Electrum wallet on an air-gapped device for secure transactions, as already mentioned by ETFbitcoin. I think those options are the safest for now.
For the OP, I recommend either getting a hardware wallet like Trezor or ColdCard or setting up an Electrum wallet on an air-gapped device for secure transactions, as already mentioned by ETFbitcoin. I think those options are the safest for now.
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.
The wallets you are currently using are not recommended.The best wallet to store your Bitcoin is either in an open source hardware wallet or in an air-gapped wallet, the only way your wallet can be hacked is if hackers compromise your wallet to steal your keys or your seed phrase, so storing them offline provides enough security. If your funds are not that big and you just need a wallet for spending, then run Electrum on your online device and keep the amount that is small in it. Choosing the right wallet is the first step to ensure you're not hacked, the other one is your operational security, even if you use an offline wallet, and you expose your seed phrase, your funds would be stolen, even if you use an offline wallet and you tell everyone about your BTC's, your funds can be stolen in a $5 wrench attack, etc, that is why your operational security must be good.
Lastly, you can add extra layers of security like making your wallet a multi-sig one or adding a passphrase, this will increase the security of your funds.
You should not store your bitcoin on any platform. If you store it on any platform, you fall into this.
Reminder: do not keep your money in online accounts
Store your bitcoins in non custodial wallet, if open source it is better, because you will own private key and entirely control your bitcoin and transactions you want to make.
Reminder: do not keep your money in online accounts
Store your bitcoins in non custodial wallet, if open source it is better, because you will own private key and entirely control your bitcoin and transactions you want to make.
- [LIST] Open Source Hardware Wallets
- You can use Electrum wallet.
- Creating a cold storage wallet in Electrum
- Creating a multisig wallet
- Verify Electrum wallet before using. [GUIDE] How to Safely Download and Verify Electrum
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.
Cold Storages are generally considered the most secure type of platforms to store your bitcoin, it's basically because they don't always have a live connection, wallet is online only when you connect the hardware into the system. Example can be Trezor wallet. But one thing is very true, you can use any decentralised blockchain wallet that gives you private key, all of them are 100% safe as long as you don't act stupid. 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.
Anywhere else apart from your hardware wallet that's open source e.g Trezor is unsafe.
Blockchain wallet is the most crappy of them all, in 2018 some coins are stolen from the blockchain wallet I used at the time.
Binance is an exchange, they can go down with your asset at any time, the moment you leave your funds on the exchange, you have make them the owner of your assets.
Trust wallet is a hot wallet, good for everyday transacts but let it stay like that, do not keep large amount of assets on the wallet.
Blockchain wallet is the most crappy of them all, in 2018 some coins are stolen from the blockchain wallet I used at the time.
Binance is an exchange, they can go down with your asset at any time, the moment you leave your funds on the exchange, you have make them the owner of your assets.
Trust wallet is a hot wallet, good for everyday transacts but let it stay like that, do not keep large amount of assets on the wallet.
Well I understand how ill people speak of exchanges but at some points, I think these exchanges have stepped up their games and they don't just vanish with people's funds but rather with a notification for closure and withdrawal of funds will be sent their customers.
Why not just tell op to save up and buy a hard drive because I think all of them can be bridged no matter the security used.
I don't even enjoy using trust wallet personally and I wouldn't even suggest that for anyone and I will even prefer using binance because I feel secure using it.
I will urge you to avoid exchanges for security concerns and because they have custody of your Bitcoin, which means they are in in control of it.
For convenience and security, use open source wallets such as electrum wallet. If you have a mobile device, you can download Blue Wallet for IOS and Electrum for mobiles that support Android devices. I believe it will be easier and less expensive for a beginner to ensure the safety of their Bitcoin.
For convenience and security, use open source wallets such as electrum wallet. If you have a mobile device, you can download Blue Wallet for IOS and Electrum for mobiles that support Android devices. I believe it will be easier and less expensive for a beginner to ensure the safety of their Bitcoin.
As ETFbitcoin said, there is no such thing as absolute safety, everything is relative, and the security of your assets is entirely dependent on how you hold them. Even if you own a highly secure device, with your carelessness, the risk will still exist.
But all 3 platforms you are using are insecure and unreliable. I mean, you are giving your assets to a 3rd party to control, they can get hacked or can get greedy and steal your assets. You do not have full ownership of your assets when using centralized platforms. Learn about non-custodial wallets, especially open source hardware wallets, which are considered the best solution today for our crypto assets. Where you have full control over your property and its safety is entirely up to you.
But all 3 platforms you are using are insecure and unreliable. I mean, you are giving your assets to a 3rd party to control, they can get hacked or can get greedy and steal your assets. You do not have full ownership of your assets when using centralized platforms. Learn about non-custodial wallets, especially open source hardware wallets, which are considered the best solution today for our crypto assets. Where you have full control over your property and its safety is entirely up to you.
As mentioned above hardware wallets are the way to go.
But to clarify some things about the Trustwallet hack you mentioned, from my understanding, that was a social engineering/phishing attack:
https://www.binance.com/en/feed/post/206559
So it's not really the developer's fault as it is the user's.
Now, this doesn't mean you should use them. If anything, you should especially if you're holding a large amount, but you need understand that this type of attack could happen to you regardless of the wallet you're using if you're not careful.
But to clarify some things about the Trustwallet hack you mentioned, from my understanding, that was a social engineering/phishing attack:
https://www.binance.com/en/feed/post/206559
So it's not really the developer's fault as it is the user's.
Now, this doesn't mean you should use them. If anything, you should especially if you're holding a large amount, but you need understand that this type of attack could happen to you regardless of the wallet you're using if you're not careful.
First of all, there's no thing such as "100% security" or "absolute security". But in general, hardware wallet (such as Trezor, ColdCard and Foundation Passport) are more secure than examples you've mentioned (online wallet, exchange and mobile wallet). Although if you're advanced user who don't mind some inconvenience, you can use airgapped computer/laptop which contain Bitcoin wallet software solely used to sign transaction.
Anywhere else apart from your hardware wallet that's open source e.g Trezor is unsafe.
Blockchain wallet is the most crappy of them all, in 2018 some coins are stolen from the blockchain wallet I used at the time.
Binance is an exchange, they can go down with your asset at any time, the moment you leave your funds on the exchange, you have make them the owner of your assets.
Trust wallet is a hot wallet, good for everyday transacts but let it stay like that, do not keep large amount of assets on the wallet.
Blockchain wallet is the most crappy of them all, in 2018 some coins are stolen from the blockchain wallet I used at the time.
Binance is an exchange, they can go down with your asset at any time, the moment you leave your funds on the exchange, you have make them the owner of your assets.
Trust wallet is a hot wallet, good for everyday transacts but let it stay like that, do not keep large amount of assets on the wallet.
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.
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