Topic: Which wallet is safe for long term Bitcoin storage? - page 3. (Read 524 times)

Wrong,

Who are those recommending these ones to you, are they really bitcoiners, these are exchages except for trust wallet, don't leave your bitcoin with exchages else you will one day discover having the same experience the users of FTX, Mt Gox exchanges have and loose their asset completely without having them recovered.


No, you can't have access to yiur coins anytime as you want, they are centralized exchange, having similarities with banks, they have censorship, your money with them is not your money, it's theirs because they have custodial exchanges, they are not recognized as wallets but accounts.


this are the best i could recommend for your use.

wallets for security and privacy
Bitcoin Core
Passport
Electrum
Sparrow Bluewallet

What are big and small people?
Did you mean people with big and small capital?

Your question is wrong because when you store your money, you always need it to be stored safely. You never want to lose your money, your bitcoins after one hour, one day or longer time so the question must be "What are Bitcoin wallets for safe storage?

Non custodial (you control the private keys - Not your keys, not your coins), open source (it is reproducible from open source code & reproducible is helpful for testing the wallet).

Read
Reminder: do not keep your money in online accounts

safe wallets are when you have full control, unlike finance and kucoin, kucoin trivia kucoin has been hack before you sure you want to keep you funds there,
although their security have been upgrade I think, I would not try store my money there because of that, at the same time, even if you have full control over these wallet make sure to properly keep your private keys, because it might be lost and your money will be gone forever or if you just keep your keys in gmail or any online storage, they might get hack and also your account and get those keys, keeping them safe is also your priority.

Binance, kucoin all are Centralized exchange so Those are always risky to hold high amount of bitcoin because anytime  can happen anything like FTX and also your account can got hacked or restricted for any issues so always avoid those. you should always choice a Non-custodial wallet like Electrum or hardware wallet. then Using these can keep your bitcoins secure. always remember not your key not your bitcoin. so do not use any Centralized exchange or wallet for holding your bitcoin

I would suggest using something like a ColdCard to generate your seed phrase (with 99 dice rolls) and then punch it into a solid steel plate like the Codl Co. Punch Plate and then put it in an important looking envelope and place it somewhere safe.

That is the safest way to generate your own seed phrase with your own entropy, write it down on something that will last a lifetime (and beyond), and then keep it somewhere safe.

For actually sending bitcoin, I would recommend using Sparrow Wallet with your ColdCard to sign and broadcast transactions.

I think that is about as simple as it can be with as much security as you can possibly have for a normal user. Best of luck.

This is the same reason it's good to get information for the right source or people with good knowledge about Bitcoin.  From my own point of view, the persons recommending these exchanges to you as wallets are obviously newbies in Bitcoin. That's because someone with experience about Bitcoin would know very well that binance and kucoin are exchanges and you are not supposed to store your coins in any exchange (not your keys not your coins) the worse part of it all is trust wallet. It shouldn't even be on your list if your will like to hodl Bitcoin for a long term.

The best advice, is to use a hardware wallet or cold storage, such as Trezor or Safepal, if you can afford them. Many people use hot wallets (like mobile wallets), but it's important to use the most secure ones, such as Electrum, Mycelium, Bitcoin Core, or Blue Wallet. Whichever wallet you select, make sure to research and choose the one that fits you best.

Your list of wallets you mentioned are exchanges except for trustwallet. If you use the exchange wallet you don't actually own them and you don't have full control of your wallet(except trust wallet) unlike using a non-custodial wallet.

Since you are looking for safest and secured that you can hold BTC for long term then Electrum cold wallet is your best choice.
To make an Electrum cold storage wallet I suggest follow this guide below.

- https://bitcointalksearch.org/topic/how-to-install-tails-os-on-usb-flash-drive-for-wallet-purpose-5228801

I'm agreeing with the last posters: Don't keep your funds on an exchange or online wallet! Really! We've seen tons of them going bankrupt, running with user's money, locking accounts, getting hacked, phishing attacks,... Letting somebody else manage your keys is a bad, bad, idea... No matter how big or trusted the exchange or online wallet is!

If you want the most secure setup, learn how to properly generate a paper wallet or do an airgapped setup using a trusted wallet implementation (like electrum or bitcoin core).
If you want a really secure setup that has a smaller learning curve and is easier to work with than a paper wallet or an airgapped setup, opt for a trusted hardware wallet with an extended seed.
If you want a reasonably secure setup, make sure you have a clean pc with up to date os + firewall + AV and use a proper desktop wallet (like electrum or core).
If you want to give somebody else complete control over your funds so they can rob you, lock you out, KYC you, have your credentials bruteforced, or fall victim to phishers: go for exchanges or online wallets.

Do note that there is no 100% secure solution... Even if you opt for a paper wallet or an airgapped setup, there is always a chance for a buggy RNG or an evil maid attack, or your seed phrase (or paper wallet, or airgapped machine) might get stolen,... I guess it's just life, there are no 100% guarantees, and this extends to crypto currency as well.

For long term hold, hardware wallets are surely the best especially when you will not need to be accessing the wallet every now and then. However, you must put extra care to protect the physical wallet just like you will protect your gold wrist watch or expensive jewelry. Trezor Model T and Ledger Nano X are good cold storage wallets.

For wallets you will access regularly,  Exodus and Electrum are good hot wallets with the former very good for beginners and the later for advanced users. 

Not your key not your coin. Majority of those you listed excluding trust wallet is an exchange and it’s not advisable for anyone to keep their coin in an exchange.

If I’m to advise you I’d ask you to with but a hardware wallet or if you’re unable to afford one just try to create an airggapped wallet using electrum wallet that will give you the same security as using a hardware wallet.

If you have any reasonable coin in your binance or any other exchange make sure you create a non-custodial wallet and transfer your coin there.

A custodial wallet means you are holding your money or bitcoins with someone else. Custodial wallets are wallets where you deposit your bitcoins with another organization. For example, bank custodial wallet. Custodial wallet for Bitcoin is - Coinbase. Additionally, any exchange you use as a wallet is also a custodial wallet. Such as - Binance, Cuckooin, Okex etc. Here if you want to send bitcoin to someone, they have to request a withdrawal, then they send after some time. Sometimes if they feel any problem then they ask you to provide other details like your National ID and verify the account.

On the other hand non custodial wallet wallet means you are keeping the money or bitcoins with you. Here you can withdraw whenever you want. There are many such non-custodial wallets for Bitcoin. Eg - Bitcoin Core, Electrum Wallet, Hardware Wallet (Ledger, Treasure, SafePal) etc. I think keeping your bitcoins in these wallets will be the safest.

The best form of bitcoin storage is using a cold storage and none of those wallets or exchanges you listed up there are not cold storage.

A cold wallet are those wallet that are completely off the internet and potential risks like your wallet getting hacked is not there. Example is the hardware wallets or a wallet set up on an airgapped devices, this device must have not touched the internet before and would not touch the internet ever. To use it online to either check for new incoming transactions or broadcast your transactions you will need to set up a separate watch only wallet on an online device, this doesn’t exposes you to danger as watch only do no store your keys. Here is how to set up one on electrum https://electrum.readthedocs.io/en/latest/coldstorage.html

The other important things to check out in storing your bitcoin is
1. Do not store your coins on exchanges because you don’t have full ownership of the wallet, KuCoin and binance are exchanges
2. Use an open source wallet, trustwallet is a close source wallet and if any changes is done you wouldn’t be aware about it.

I've asked many people, big and small, which wallet bitcoins are the safest to store long-term.
Many of them said to keep Bitcoin in Binance Account, Ku Coin Account, Trust Wallet.Now my question is if I keep my bitcoins in these wallets will I be able to use them whenever I want and will it be safe.
Are there other wallets where bitcoins are most secure?
I want your opinion.