Topic: wondering what wallet to use?(long term) (Read 508 times)
I preffer hardware wallet, as from the time i buy and i use it, i never had any problem, neither with bitcoin or altcoins i store on it. But also when use hardware wallet make sure PC is not infected and address change when send, so is better always check address on hardware screen before send it, and all should be ok.
Just create a wallet at https://www.bitaddress.org save the private keys on a notepad and send your bitcoin into it, you can buy a usb and copy the private keys of your created wallet and save it and keep it in your safety storage cabinet/drawers for a long time.
Nowadays, There are so many wallets for you to use but not all of them are safe. To what i know, hardware wallet is the safest wallet to use.
I would recommend Electrum wallet if you're not storing a major fortune, then Electrum wallet should be your first choice. In my experience I have found it simple and easy to use, it's secured and safe plus I like the fact that they have a mobile app for it to. If you're planning to store a huge volume then I would suggest a Trezor wallet it's the most secured wallet out there.
I’d recommend cold storage too. The main advantage of cold storage, is its immunity from most potential vulnerabilities that come from web exposure. To maximize the security of your cold storage, keep them in a safe, safe-deposit box, or other location that affords an additional layer of protection.
Other safety tips are welcomed, of course.
I also highly recommend cold storage. for me, cold storage is the safest place for people to store your cryptocurrency. Other safety tips are welcomed, of course.
Nowadays, There are so many wallets for you to use but not all of them are safe. To what i know, hardware wallet is the safest wallet to use.
If you're planning to BTCitcoins long term here's some advice from various cybersecurity experts,
Keeping bitcoins in a secure place has proven to be difficult, says John Black, vice president of education at SecureSet, a Denver-based immersive, accelerated cybersecurity academy. Investors holding accounts at an exchange, including mobile app wallets like Mycelium, are vulnerable because all of their assets could be stolen.
"Just as you would never walk out of your home with a lot of cash in your wallet, you should not hold a lot of bitcoins in a wallet on your phone," he says. "Instead, you should use 'cold storage,' which is a way of storing your bitcoins offline so they are not subject to online hacking."
Investors holding a substantial amount of bitcoins should always use a wallet or exchange that uses cold storage. ( From Ellen Chang's article link here )
This is why I always recommend to use "cold storage".
Keeping bitcoins in a secure place has proven to be difficult, says John Black, vice president of education at SecureSet, a Denver-based immersive, accelerated cybersecurity academy. Investors holding accounts at an exchange, including mobile app wallets like Mycelium, are vulnerable because all of their assets could be stolen.
"Just as you would never walk out of your home with a lot of cash in your wallet, you should not hold a lot of bitcoins in a wallet on your phone," he says. "Instead, you should use 'cold storage,' which is a way of storing your bitcoins offline so they are not subject to online hacking."
Investors holding a substantial amount of bitcoins should always use a wallet or exchange that uses cold storage. ( From Ellen Chang's article link here )
This is why I always recommend to use "cold storage".
For the highest level of security, hard wallets like Ledger Nano and Trezor work best. But they cost you money. If you would like to go for a free option, there are some really good soft wallets available. What has really bothered me about crypto wallets is their inability to tackle security issues like theft. I was recently exploring some options and I came across this wallet app. It has this Anti-theft Wipe feature that allows users to erase wallet data remotely from a stolen device. Also, it supports built-in multiple currency swap. It is called PINT. You can check it out on Google Play:
https://play.google.com/store/apps/details?id=com.pint.app
I’d recommend cold storage too. The main advantage of cold storage, is its immunity from most potential vulnerabilities that come from web exposure. To maximize the security of your cold storage, keep them in a safe, safe-deposit box, or other location that affords an additional layer of protection.
Other safety tips are welcomed, of course.
Other safety tips are welcomed, of course.
As for me, I would advise a hardware wallet. It has proven to be the most secure coin wallet ever. No record of hack or cyberattack has been recorded.
There is no wallet completely safe in crypto world. But depending on your wallet, you can limit the percent of being hacked. For my experience, i always choose cold wallet for storing cryptcurrency, it is quite safe and secure for me.
They said that there are offline storage that we can store our bitcoin from there, so if we can store our bitcoin in a long-term and wants to encash it in a good value then we can transfer it in an online wallet and encash it if we want it.
Personally, I'd either recommend a trusted hardware wallet, or a paper wallet (with multiple paper backups stored in trusted) locations.
Take the cold storage/hot wallet approach (95%+ funds stored in cold, 5% in hot)
Take the cold storage/hot wallet approach (95%+ funds stored in cold, 5% in hot)
Personally i like to use hardware wallet. Because i feel these wallets are secure and safe. Hacker can’t hack these wallets. But it’s true any wallet can’t provide you 100%security.
I also recommend hardware wallet to save for long-term, make sure you have backups for that and you can save, the hardware wallet in a safe place, and you won't find any threats. almost 99% safe, I can guarantee that
Paper wallets has always been the go to option for long-term storage. The coins is not stored in a centralized service and nobody has access to your private keys. The secret to good cold storage is the creation of the paper wallets. You have to create these wallets on a media that is not accessible to the internet.
You also need at least 3 different locations to hide these paper wallets < Protect it against fire/floods/theft and any other disaster that might happen >
You also need at least 3 different locations to hide these paper wallets < Protect it against fire/floods/theft and any other disaster that might happen >
I hold some altcoin at my Bittrex wallet, I use Bittrex more than three years and still keeping my asset there, you can use Bittrex or binance for saving your asset but you have use security for your exchange account, or you can use hardware wallet for long time holding.
We have many wallets we can use to keep bitcoin for a long-term, and I think it's better to choose hardware wallets like Ledge S Nano or Trezor. Once you move your bitcoin to one of that wallet and you can save the private keys, you don't have to worry about anything unless you cannot save the hardware wallet in a safe place. A paper wallet is a good option too, but I don't have any experience with the paper wallet.
I think coinbase is one of the best wallet to hold your bitcoins for a longer period of time.
My best choice ever is always hardware wallet. You can read this post to see how people think about hardware wallet. https://bitcointalk.org/index.php?topic=2270804.new#new
Though Ledger Nano S supports more than 700 coins and tokens, I have a trezor which supports only certain coins but you can use MEW on trezor to hold all your tokens. Both are suggested for keeping your assets long term.
If you think long term security should be in the forefront. Hardware wallet may be the best option for you.
my suggestion is better to use an official wallet, if you hold bitcoin it's better to use coinbase, and if you hold eth it's better to use MyEtherWallet, because so far I've never had a problem with those wallets.
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