Bitcoin Forum

As the title says, where can I store my btc safely? Like a cold storage or something, but i dont get the idea of it... Also when it is safe, I want to deposit to it, is that possible?

Paper wallets are probably the safest or one of the safest at least , but they are created mostly to store for long term and not to use them really ... for daily use you can use something like Desktop wallet (e.g Electrum) .
On paper wallets you basically print both private keys and public keys (with QR code) , you can encrypt private keys if you want , if not .. to use your BTC you can scan the QR code and import the private keys to a wallet like blockchain.info or simply re-type the private keys form the paper wallet to blockchain.info .

Or you have hardware wallets such as trezor wallet or Case wallet (which is considered the safest bitcoin wallet on the world and the easiest to use) , it's basically Biometric and multi signature on the same time . Never used them though so can't say much about them .

I think that the safest wallet that you could get is a hardware wallet, like you store your bitcoins on a hard drive. I am not too familiar with this as I use an online wallet which is not the safest option for keeping Bitcoin.

Okay an electrum wallet is that I am going to need. But iI hear many questions/problems regarding the electrum wallet. Do I get a private key when I have an electrum wallet?

Everyone has a different opinion on the safest option. You need to consider what your needs are and whether you'll be able to manage the password control of a paper or cold wallet.

Anyway, here's a site I like that offers a great comparison of the options. Give it a look: https://www.bitcoin.com/choose-your-wallet

Try this link too: https://bitcoin.org/en/choose-your-wallet

It looks like someone made a copycat .com site to this original .org site.

It shows that electrum has a vulnarable environment and that blockchain is centrailized... What is going on?

i would recommend paper wallet, it is form of cold storage, you print private key onto paper and store it safely
coins are offline and safe
many websites offers great paper wallets ready to print

If/when I do that, can I deposit to that address?

Yes! Paper wallets are better for safety, imo. And there's no restriction to receive bitcoins to a paper wallet account/address. You can still send bitcoins to that address. :)

Yes if they didn't change anything , as far as I know you can export the private keys on the regular visible format then import them where you want , I don't recommend that though .
I recommend you to simply store the seed that Electrum wallet give it to you then write it down on a piece of paper and that's it . just keep it safe .. In case of a computer failure or whatever , you can restore your wallet (public keys + private keys) using that seed .

You deposit to the address either by scanning the public QR code or keeping the public key with you before printing.

The biggest worry is always that someone will gain access to the wallet you have created, either from your computer or your printer.
Ideally, you would inspect the code of the program to generate your wallet code, disconnect your computer from the internet, print the paper wallet, delete print queue, format PC to remove any traces of the file being printed.

You can omit any steps, but that is the paranoid version I've just talked about.

But you can not spend any btc right?
So that I won't gamble my btc ;)
Or you can buy a new computer to be sure no infection is already on it, right?

Yeah, odd. I'd actually ignore this .com site. The site i use is the .org version.

They both say the same, only the .org site doesn't display the blockchain computer wallet.

I don't like Bitcoin.com, Bitcoin.org is a better site. Blockchain.info shouldn't be displayed anywhere IMO.

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I don't consider Electrum as vulnerable as they don't send the private key to the server. But the way SPV client works allow nodes to have a sybil attack against them.
Instead of paper wallets, I would recommend you to get a raspberry pi, clean install raspbian and install electrum into it. Paper wallets does provide more security against hardware failures but you could easily copy down the electrum seed. The best thing about Electrum is that you could download the transaction info from an online computer, sign it on an offline computer then broadcast it on an online computer.

As regarding OP, he asking the ways to safetly store the bitcoins and not to spend.

And you can still spend but have to import that wallet/private key it'll not even take more than a minute.

many usb stick, the best one, wallet inside it and you're done, no fancy or complicated stuff

just keep the pc clean from infection and there is nothing more to add really, i'm doing this fine since years, no coins stolen so far

use another machine to download your turret, or a VM

Also, think about how inconvenient this would be if you want to sell. You'd have to get the paper wallet out of your wall safe, carefully input the private key on a computer, hoping you don't have malware, and then initiate a transaction. This is not a reasonable process for any company operating in Bitcoin.
This is why multi-sig is the most secure. It lets you have online access to your wallet but has the protection of cold storage.

You have to create multisig yourself and sign the keys individually on different computers. Multi-sig does not provide much more security than paper wallets if they are signed on the same computer. Usually, multi-sig would be much more of a hassle than paper wallets. You can easily scan a paper wallet using mycelium cold storage function and it is quite secure already.

Here are threads from the last week with the same question:  


https://bitcointalk.org/index.php?topic=1231863.0
https://bitcointalk.org/index.php?topic=1235564.0


In my opinion paper, multisig or hardware wallets are the best options

I suggest that you get a hardware wallet, something like Trezor if you have enough funds to be taken care of. If you don't want to spend money you can use paper wallets.

Even the USB sticks with the wallet.dat files are not a bad option if you have made them in clear environment, maxe sure that you have no viruses in your computer, USB sticks, etc.

All options let you add bitcoins later.

I agree, when you eventually have to transfer Bitcoins from your paper wallet to a wallet you will end up having to use a computer - that computer may be compromised with a keylogger or a screen capture - It makes sense to spend a few dollars/euros/pounds etc to ensure that your Private keys are kept away from that computer.

USB sticks can probably fail in the long short or at least become corrupted.

Paper wallet can be used on a clean wiped computer with almost no possibility of it getting compromised. With a USB stick, you require a computer with Bitcoin Core (can be unsynced as long as you have the crafted TX) as it is one of the few clients accepting that format. Private keys are pretty much accepted universally.

there is many way to secure your bitcoin,you can use papper wallet,hardware wallet or maybe store on your vault. but  think its not totally safe,because every system have a minus way,have a black hole.so,just make sure you not keep your big amount of your bitcoin in one or two wallet,keep them in many storage.and check them continously.and of course you have not show your data,like email or anything with everyone.its a little tips from me..

I used tails for that: https://tails.boum.org/
I think, it a good alternative, if you don't have an air gapped machine. Just put the program you want to use on the same usb-stick. (don't forget to physically unplug your pc from the internet before starting tails)

I think the best way to store them is with web wallets that have SMS protection.

Definitively not.
They way you log into a website, doesn't change, that if they get hacked or go rough, your Bitcoin are gone.
If you want to use a webwallet use something like https://greenaddress.it. It is multisig, so someone would need to hack both the website and your device to steal your funds.

Live linux OS is the best. you should have 2 usb drive, install linux OS on one and on another store your wallet/wallet.dat whatever you prefer.

Do they have the option to send SMS with codes before login?

They do. But they implemented 2FA poorly on android for me and I lost 0.04BTC. They didn't reply me either.

They just need to key log your computer if you don't have 2FA, they can easily use your mnemorics to transfer the money. I would have preferred it more if it's 2 of 3 as there is a faster way of recovering Bitcoins if they close down one day. Currently, the nlocktime requires a certain period of time.

Ledger wallet is very good option and cheap

https://www.ledgerwallet.com/

and they have and great support. They have answer my question every time immediately. 

trezor will be your good choice, and after that ledger
trezor is pretty expensive tho

Many users here have the write idea. Pretty much the only virtually safe way to hold onto your bitcoins indefinitely is via cold-storage or hardware wallets.

Web wallets are a No no, but also just simply using the Bitcoin Core with encryption should do the trick if you're in that kind of thing.

I guess you can use blockchain.info. It is a perfectly secure wallet. Dont keep your Bitcoin on you desktop or you might get burned.
If you decide to use the blockchain wallet, you will need to have 2FA activated. Only by having the 2FA activated your account will be secure.

Definitely Coinbase. I've been using it for a year or so now and have no problem with it.
It's secure and very easy to use. Has "My Vault" aside from "My Wallet" for safer storage.

you can store it on the paper wallet or even safer method would be to hold it in a hardware wallet so no one could steal it

On the contrary, you would get burnt even more badly when using blockchain.info.
Firstly, 2FA protects only against client side attacks. When using it, Blockchain.info only allows encrypted wallet files to be downloaded if the 2FA is correct. However, their employees would have access to the encrypted wallet if they have access to the server. If you use a weak password or they use weak encryption, your coins can be stolen. Their security track record already indicates how trustable they are.
Coinbase vaults does not allow users to have control over their address. This means that if they are offline, you won't be able to get your Bitcoins back. Your best bet is to use multisig vault with "Managing the security myself" option.

nobody knows, all up to you, man.
because bitcoin wallet is secure enough in basic.

I just got my Trevor and I am happy I did.  Its worth it to invest the $120 to protect your BTC if you are going to be investing more than a couple hundred dollars.

yes, hardware wallets are good to protect our precious bitcoins. i don't have a trezor yet but i have a ledger wallet it's good too.

Funny thing is right after I post that I am having trouble with my Trevor, it crashed during the firmware update and my wallet is now empty.  Hopefully they have good support.

They probably can't help you too much. Wasn't there a seed given when you first used it? You can restore your addresses using it.

Yeah I have the seed so I should be okay, im hoping they dont have to send me a new device.

I think the best and safetiest to store our bitcoin is in cold storage you can also try paper wallet. that you can bring it anywhere you want...

Paper Wallet, or Cold Storage.

The coolest way that I have myself been following till now is, just put your coins in either blockchain or Bitcoin Wallet - QT and make it password-protected, enable 2FA protection (for blockchain) and enjoy...

Have not faced any problems with my coins till now...

GreenAddress supports supports 2of3 as well as 2of2 and 4 different kinds of 2FA: SMS, Google Authenticator, automated phone call and email (with PGP support). We encourage users to set more than one as well as recovery emails just in case they lose access to a device or their email provider disappears.

We only require 2FA when you spend or when you change important settings informations - requiring it to login would be overkill given that with the mnemonics alone you can already find out on the blockchain which transactions belong to a wallet.

ranochigo, what problem did you have on 2FA on Android? Can you describe what you found poor about it? we are sorry if your last support email wasn't replied to, please send an email to info@greenaddress.it and we'll be happy to help.

Blockchain and coinbase are best i think so.

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Ill just store my bitcoin in cold or paper wallet if I had a pretty amount of bitcoin but for now i'll choose android wallet since im only using moblie. So yeah depends on the amount I have thats how i choose.