Bitcoin Forum

I have less than 10  in localbitcoins and about 5 each on BTCC and their justpay wallet.

I don't trade actively, just buying around 1 coin every week or two since a few months ago.

Should I be considering some secured wallet?

Offline wallet, hardware wallet? the both are such useful wallet in this time, more safely for you. Even if you keep your PC with an offline status no one will reach your desktop using the viruses or malware except you connect it for online status. 

Both are useful for the people are passive traders.

Yeah, you should definitely be considering a secure wallet. I suggest a hardware wallet like Trezor. It's more safe and it lowers the chance of being hacked by something like a key-logger.

Offline wallet like bitcoincore and multibit will be the best choice for you to store your coins. Or you can use hardware wallet Ledger or Trezor. I have tried Ledger wallet sometime ago and it was good, too bad I lost it but luckily I had not stored all of my coins on the ledger.

Use Electrum wallet for as your hot wallet that you can use to pay for your daily expenses. I would suggest purchasing raspberry pi and use Electrum offline from there with your desktop wallet being the wallet that broadcasts and make raw unsigned transactions.

It would save you a lot more money than purchasing hardware wallets and it can be secure enough.

Yes Bro You can Store Your Bitcoins in a Secure Wallet I Want to Suggest you to Store Your Wallet in a Offline Wallet or You can Use Cold Storage For Storing Your Funds....

Thanks for this because the Etherum wallet I have, I thought its only for ETH or maybe I'm mistaken and the only one I have is the online wallet which I have learnt I dont have the private key to but still I have carried my transactions without any hitch but I'm equally scared of the attack that online wallets are exposed to.

Can you explain how to go about this?

secured wallet is a must,try to buy some sort of hardware wallet such as trezor or ledger wallet.both will make your bitcoins secured as long you can keep it,and if i were you i would prefer to buy a secure hardware wallet to save up my bitcoins rather than end up suffering because losing

Etherum wallet and Electrum wallet are two different things. Electrum wallet is used specifically for Bitcoin while Etherum is used for Etherum only.

Even if you do have the private key on an online wallet, you are still at risk since the other party still have access to your private key. Download Electrum and install it, create a wallet, copy down the seed and send all the funds from your online wallet to Electrum and you should be fine.

15+ bitcoin is really high amount and you shouldn't trust any web wallet with that high amount of bitcoin. You better try using hardware wallet like trezor or you can print out several paper wallet and store those paper wallet securely. If you don't actively use bitcoin or send bitcoin than for receiving only paper wallet is nice but as amount is very high i recommend hardware wallet. But you should read how to store safely in hardware wallet and how to recover your bitcoin if you lost access to those wallets before putting anything in them.

Definitely take your money out, and store it in a paper wallet. If you want to leave it on such sites for quick access leave only 1 btc. The past is a clear example that such saving accounts don't always go as planned. A lot of people have lost money during hacks in the past, by letting all their savings stay on exchange sites.

if you only buy bitcoin not trading
is good your bitcoin in saving to online wallet or dekstop wallet but not exchanger wallet
in dekstop wallet you can seve in bitcore, electrum or multibit
in online wallet you can use blockchain.info

In our country the COINS.PH wallet, if you convert peso money to bitcoin in that online wallet and store it in long time that value of your money will increase too so its like an investment, that's why I prefer to restore my fiat money to bitcoin and claim it when the value of bitcoin increases.

Well if you are looking for ethereum wallet, you can use jaxx.io it is support for bitcoin and other altcoins are like, ETH, ETC, DASH, DAO ,LTC,  augur and you can use it on PC or smartphone Android. I have used it more than 6 months ago everything was fine, there were no problem. I think you can try it too.

That's over $6000 that you're trusting

a - to some website that really you know nothing about. A giant security hole could be found any moment.

b - your own security measures. Even if LBC is bulletproof, how sure can you be that you yourself won't be infiltrated from your end?

Effectively anything is better than your current setup. I use paper wallets myself. There are lots of hardware options too.

i think offline wallet is a good choice since you don't make trading or spend the bitcoin. you can choose many offline bitcoin wallet. i am experience with multibit in the past to store my bitcoin and i don't have any problem at all. or maybe you can try with trezor, mycelium for your android phone, flashdisk bitcoin wallet.

and i suggest to you to split your 10 bitcoin into 2-4 place just in case if something bad happen and you still hold your bitcoin and its not good to store in just one wallet.

The best and safe place to save your bitcoins is in offline wallet as your coins will stay safe there and no one can hack your wallet and its more safe in compare to online wallet where scammers may try to hack your wallet and I am using electrum wallet since long time and have not found any issue with its security.

I think the best method to secure and store your bitcoins is the offline wallet, or using the Blockchain wallet. Both are secured enough so you haven't to worry about safety issues.

I don't think so, You had heard about the bitfinex cases in the past? We could have thought again for suggesting someone using the blockchain wallet.

since that is already a lot of money that you have invested in bitcoin i suggest a Hardware wallet. you can find some with less than $100 price and be safe because of how they work.

but if you are not willing to pay for a wallet and buy it, you can look into "cold storage" and since you said you are not actively trading then, a paper wallet may be what you need. but make sure to learn how to make them safely first before sending your bitcoins there.

Most members  here  are suggesting  the same thing  on which  the safest way to secure  your  bitcoins its  on either  offline wallet  /pc wallets  or  on  hardware wallets. I do  agree with their statements hence storing them on  exchange wallets are  risky because  we all know that   exchange could  possibly been hacked  and  those bitcoins stored  their  would  be surely gone thats why its better to  store  up on cold storages which you do have the  full possesion  just  dont forget  on where  you placed  it and  must keep all the   important  informations.

Ya i also recommend offline wallet for securing our btc especially if we have a large amount of btc.The risk for online wallet is high.I know they also trying hard to provide maximum security,but the chance for getting hack is still there.

You can use coinbase,if you lodge in they will send you a message with the email you use to sign up for authorisation into you account since I have been using it I have no issue with them,I think it is safe

Don't rely on one wallet alone,put all your eggs in many basket,of course all this online wallet has good security measures,it is really up to you on how to secure your passwords and security question as much as possible use an authenticator or phone verification to secure your credentials.

Holding your money in an online wallet is riskier than you might think. Just like banks, it takes only one real or faked attack of the Bitcoin online bank for your money to be gone. FOREVER. I have stored mine in dozens of cold wallets just to make sure I'm protected from thieves (because it's just a paper and they wouldn't know what that is probably) and online attacks. And hackers.. If one gets hacked, I lose only a very small part of the money.

No matter what wallet you choose, remember that your bitcoins are only safe if the private key was generated securely and remains a secret. Choose a storage method based on your needs and your wealth. There’s no reason to ever store a large amount of funds in a hot wallet.

My advice is to never keep your coins in just one wallet. By choosing multiple wallets you can enhance your security. It doesn't matter how big or small amount of coins you have, you don't want to lose them. And it's good to have one hard wallet, cloud wallets are convenient but often very vulnerable. Wallet offer is very big, you can choose.

I think there is not a full safe method to stote BTCs, so I don't hold a lot of coins on my wallet accounts. I use online wallets, despite I never had any problem with that kind of service (only high fees), I'm aware that it's not 100% safe, but in my opinion the another wallets aren't 100% safe too. So, I just prefer to withdraw my BTCs to local currency when I reach to a big amount, or I invest a part on a trusted site on the internet.

If OP is not familiar with off-line wallets, he could use coinbase vault. It is really secure but you must give 2days (48 hrs) notice before making a withdrawal.

It is always recommended that dont keep your bitcoins in exchanges if you are not going to sell or do daily trading instead you can store them in desktop or hardware wallet, This wallet keys private key and all other records you will be holding it so if any thing problem is their you can be able to solve it. But if the exchange get any problem like hack or scam then you cannot do anything as you dont have control on that wallets

Already Op have stored the bitcoin in one among the best wallet and trading service provider. But as he is not active into trading can prefer Blockchain wallet or other offline wallets. Also can try paper wallets if the bitcoin buying is a long term investment.

i think the wiser move is to store your bitcoin in an offline wallet, or hardware wallet.  Blockchain wallet is also a good way to store your bitcoin but nothing beats the one that you can access freely and can disconnect to the internet for more safety.  You can also use light wallet so that you don't need to download the whole blockchain. 

Offline wallet is the most secure wallet. If you put your bitcoin on an online wallet, even if it is in a  secured platform, it can still be prone to hack or phishing. But if it is offline, no one can hack it.

yeah no one can hack it if the hacker are doing it virtually and have no access to the hardware wallet in offline,but if the one who's trying to steal the wallet was also having an access to your hardware wallet then it's in dangerous,only way to prevent to be stolen is keeping it on the safe place and always setting up a hard predicted password and more authentication

don't ever keep substantial amounts of money at the exchanges!
MT-gox and Bitstamp are just recent examples of this errant behaviour :)
it is time for you to consider bying a hardware wallet,it is easier to use than you would think and gives you  peace of mind
I cannot stress enough: do not store your money online,you re not in control of your funds and  if this service goes offline = you are screwed
make a habbit of withdrawing funds at the end of your trading session,do not keep them overnight at exchanges

Saying online wallets are not safe but I guess many people have already done that.
Buy Trezor. It may cost you $99 but it is more secure. It's a Bitcoin Safe as it says.

Keeping your money safe is kinda tough these days.

For storing bitcoins, don't put them on an online exchange. Use a paper wallet and store the public and private keys in a safe place like a safe deposit box or a fire safe.

yes that is a fact that the important thing is to choose a reliable and trusted wallet for storing bitcoin, and the second is that you should make your own policy for storing method according to your needs.

No matter the amount you should get a secure wallet. If you have a substantial amount of coins, use a cold wallet (just google how to). Having a secure wallet should be number one on the list of agendas of anyone using Bitcoins. Don't store a lot of your coins on websites or wallets where the admins has access to your coins.

Right. Just use online wallet if  you are constantly purchasing something using bitcoin. It will be a hassle if you use offline or paper wallet when  you always buy something. But if  you are just holding your coins for future use, it is better to store it on paper / cold / offline wallet.

The principle is not all eggs in one basket.
An offline wallet; paper based or HD wallet for savings. This is not for everyday usage.
A PC wallet if our job demands the daily transactions with our clients
A web wallet for small expenses. Sometimes this is pairing with smartphone.

yes that is right to say i am agree with you that is too much dangerous and risky if you are going to put all your bitcoin in one wallet you should use multiple wallets to distribute your bitcoin in it, through this way you can minimize the risk of your whole bitcoins from hacking.

In your own wallet! Bitcoins will rise so high that it might reach $1,000 again. So better horde it and buy as much as you can now.

High amounts are not recommended to be stored in an online wallet. This is why cold wallets exist - print one, laminate it (you can do that even with scotch) and you'll have a waterproof cold wallet that you can safely store. You also should print it on a Linux Live just so that it cannot be hacked in any way. Your online wallet with high funds is prone to hacking in any moment.

i think with that amount, you should have cold wallet like USB bitcoin wallet, you can search on google where the store online that selling this USB. because its really important that you have to save your bitcoin in the safety wallet and i think better you don't have to make deposit bigger than 3 bitcoin in the market exchanger or localbitcoin or any places, save your bitcoin in cold wallet. and remember to not save all your bitcoin in one places.

If you invest and buy now I am sure you can make profit when it reaches to high value like 1300$  in future better invest and get the huge profit. I advice you to  save the bitcoin in cold storage or desktop wallet in instead of having in online wallets

Best option would be paper wallets, as they would allow you to have your coins remain secured if you are interested in just saving them and not going to spend anything from them. You can, however, get those coins back in your wallet after scanning the QR code and retrieving the private key.

You can store your bitcoin in your online wallet, you have to create an online wallet for yourself you can do that for free as there are so many exchange and some other forums who give you the facilities to create your own wallet and you can do that for free and then can keep your bitcoin there, you have to pay some transaction free while transferring your bitcoin from one wallet to another using exchange service.

Firstly, you can store your bitcoin in computer with a bitcoin software.Its simple to understand and you can spend it easily.

Secondly, you can store bitcoin in CD,Memory Card.First,copy the wallet.dat file to CD and delete it from computer.

Thirdly, you can keep your bitcoin in a third party websites like exchange sites or any site that allows to deposit or transfer bitcoin.

Maybe for you it is not a large amount of bitcoin but for me and for a good number of users here it is not a small amount of bitcoins.

I would suggest you to buy a hardware wallet, maybe a trezor or a ledger nano S or hw.1(it is the cheapest one), they are safe enough but you can use also paper wallets but hardware wallets are more user friendly.

i still can not wrap my head around for buying a hardware wallet. in my opinion it is not yet worth it for me to pay $100 (or less for some other producers) just to hold my bitcoins as long as i can make a perfectly safe cold storage on my own and then spend from it the same easy and safe way.

Yeah. I preferred too a cold storage for safe and no hassle way of saving bitcoin. I didn't trust hardware wallet to hold my bitcoin even online wallet.

don't get me wrong, it is not a matter of trust at all. these hardware wallets have been around for enough time that i can trust them and if i am not mistaken one of them is even open source.

my problem is with paying for something that i can create for free myself. and i guess hardware wallets are a good way of storing bitcoins for those who can not do this or maybe they are too lazy to do it and want some safe way to store their 1000BTC on.

Blockchain is really good and most trusted of users to store their bitcoins this is a number secured bitcoin wallet in the world even your going to hold your bitcoin for year's it will be safe in blockchain :) just always remember and save the important things.

you're right, blockchain always reliable since it first became wallet for users bitcoin, even to this day I still use blockchain to save bitcoin I always get, and maybe I'll keep using it until I'm no longer looking for bitcoin, but I think I still would look for it. well, very much like Coinbase storage wrought, but I prefer blockchain than others

OP - Yes when you have many btc its better to have many wallets and store in offline wallet is the best which help you in string securely as you dont use for trading or spending purpose. Also just keep around 2-3 in active wallet just incase you require to spend it.

I would suggest you to put all your coins separately because that way, you will have all of them differentiated for different purposes.
I mean, you may store 2 coins in blockchain for gambling, 3 coins in electrum for trading purposes, and 5 coins in offline wallet to put it safe.

Storing Bitcoins in exchange is not recommended , only use them when you need any trade . it is better to use desktop wallet which gives you full control on our wallet and keys that in future if any problem you can retrieve them through private key. And when you use desktop or hardware wallet you dont have to worry of using in gambling or not as in web wallet they have some restriction of not using the wallet transaction for gambling like coinbase have their terms and condition that if any account found using for gambling then their account will get ban

So it is always safe to use desktop or hardware wallet and use 2 or more wallet like one wallet for investment purpose which you dont use them frequently and one wallet for frequent use like trading ,investing in ICO  and doing gambling

In terms of offline wallet... Ledger still has a black friday sale :)

Just keep a "dirty" wallet for trading/gambling. But save your bigger amount in a hardware/offline wallet...

I'll tell you what I suggest.
Amount of bitcoins which you want to keep safe and you are going to save them for long times, store them in offline wallet storage, I mean you can store them on hard drive or on flash drive. Than keep them in safe place.
And now, if you want to keep 1-2 bitcoin for everyday uses or simply for to buy or trade online, than choose secured online wallets, you can search them on google and you'll find good list, make decision on your own.

Hardware wallets aren't a necessity. You can very well just stick to having your wallet files stored on USB drives, where you can even choose to add another layer of protection by encrypting everything. That's what I am doing. Or you simply create a paper wallet containing your long term coins. It's a free method.

Take the advice and cold store them mo fos. That's way too much to be storing on a cell phone.  Spose it's a good thing you isn't gambling them all away.   You got what we call luxury problems my man.

It is better to store bitcoin in different wallets especially if you have some large number of bitcoins, as there is always a risk of hacker who can hack your bitcoin wallet therefore it is good to distribute bitcoin in different wallet so as to minimize the risk of losing all at once.

Are you saying you weren't able to recover your funds from the lost Ledger? Far as I know, funds can easily be recovered in case of losing the ledger. As long as one has a copy of their mnemonic, it can be recovered in mycelium/multibit/etc.

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I personally store my coins in mycelium and have recently gotten Electrum but I'm still figuring it out. Would definitely like a hardware wallet like Trezor or even Ledger, but, I'm gonna wait till I have plenty more coins to store. (who knows when that would be) ;D ;D

Me, i have two wallets and one local wallet. I dont want to store my btc on one bitcoin wallet. So when the wallet encounter trouble, im able to switch with the other. Also i dont guarantee my btc is safe thats why im using these wallets. My local wallet is very useful, so i suggest you must use one. My local wallet very versatile. You can pay bills, prepaid load and convert btc into cash. Im not gonna use my btc without this.

good idea to use local wallet since we should split our bitcoin to avoid bad things that could happen. is that local wallet like bitcoin core or multibit? i use multibit because its really light to syncronize with the network and its different with bitcoin core which is need too long before its completed syncronize.

i guess he's reffering to local exchanger wallet not a desktop wallet so it's basically an online wallet were provided by his local exchanger as he's stated he could pay bills, prepaid load and convert bitcoin into cash. though it's not really secure, the exchanger could have the right to close the account or turning out to be scam if they have intention to do this

Yeah, it's not very wise to keep the coins on the exchanger. They are not ment to be the real wallets and your coins are there at risk. Exchangers are exposed to hackers attacks or your account there could be locked for different reasons. It's good to keep coins on exchangers ony for trading purpose.

Yes, exchange are too much risky so never try to put your all bitcoin in exchange, also we should also use multi wallet so as to distribute your bitcoin in different wallets so as to minimize the risk of your losing money. Storing bitcoins must be done based on the purposes, exchange or online wallets are also good, but only if you have enough reasons.

i am not sure if he realy refering to a local exchange
as there is a local wallet that allow you to pay bills, prepaid load etc
for example cahsila that integrated with mycelium wallet
really bad idea if you put all coins in an exchange , you should never trust third party service , just store a little amount only on them.

Yes, when you begin to accumulate bitcoin then it is the moment to consider securing your bitcoin in a better way since a hacker may try to steal them from you, good options are hardware wallets like trezor, paper wallets or even a desktop wallet in a computer that is encrypted and that does not go online.

To keep our btcsecure even a big or small amount we must always consider that we cant trust any sites or apps that much , this apps were all controlled by a developer though there are still some that is really trusted. Try to portion it on diffrent wallets or why not consider investing on different andreliables investment sites its like storing too jut dont put all in one investment.

The sounds weird for me.
You was using a desktop wallet and suggesting about local(exchange wallet). It may hard for me to say learn again about it. But I don't think so just for storing a small amount of btc and I need use bitcoin core, this will become the different thing if you want to run bitcoin core for full nodes.

If you want to be in safe side you can use desktop wallet , i use electrum and till now did not faced any problem, keeping coins in exchange wallet is not recommend  as if they scam then you dont hold any keys to recover your bitcoins

not only the chance of getting scammed but also the possibilites of getting disabled the accounts is there and make it really such an awful decision for people who hold big amounts of bitcoin and willing to store it in an online wallet. if you have much bitcoin then move out from online wallet or you will regret sooner

If you fear about online and app wallet. Just put your bitcoins in the paper wallet or cold storage. These places are more secure one in holding your bitcoins. But I do not think your bitcoins are risky in online wallets like blockchain and coinbase.

Every wallet that don't give private key is risky as it means that you don't really own them.

@OP,  If you got the money buy a hardware wallet, its the safest when storing huge amounts of bitcoin.

But if you don't an offline wallet will do, As long as your wallet is not often connected to the internet it will be safe.

If you are going to use a desktop wallet to store your coins, remember to store it in a safe operative system like any flavor of Linux and not in windows which is full of bugs and backdoors.

Omg yes you need something secure. You're talking about 20± bitcoins here.

I would recommend an encrypted paper wallet (with at least 3 copies in different buildings) made on a secure Ubuntu live USB or a trezor / other hardware wallet. I wouldn't keep all of your coins in one wallet either, I'd put a few bitcoins in each.

Whatever you end up doing, don't trust anyone and dont keep all of your bitcoins in one spot. Make sure if you're creating keys it's ultra secure. Stop storing your coins the way you are now for sure!

While there can be more and more layers of protection but actually you see if you ask some technical or professional people they will always suggest you to store your bitcoins in offline wallets.
I personally store in blockchain online wallet and have my private key printed for safety.

From a few months I have my bitcoins in my online wallet blockchain.info and I did not faced any issue from there so I decided to keep remaining them there I they are safe there till now so if anyone let his coins to any online wallet then it will also be not bad but in that you have to keep in mind that you will give control to a third person for your bitcoins. besides this I do not have any other fear. But still the better is that you adopt a desktop wallet.

If you have never been hacked, you probably dont know much about security. The reason I say that is because when I got hacked i did a ton of research and now I am pretty knowledgeable. There is a lot to know and it changes. Like today i read about a vulnerbility  that lest hackers get into your gmail account with no password. IOS and android are both vulnerable. You have enough BTC where you should spend some time educating yourself. Nest of luck.

Honestly it so different right now from before because we are weak in security and we can increase our passphrase just to protect more our account..
It is hard to hack the accounts right now via brute forcing. and i think even phishing is hard to get any account by someone because they knows it.. or even  you can get their account and password if you login to the site with high secured if your ip is not well known the account will be lock automatically.

Really? I'd say the reason why people aren't hacked yet was because they researched first how to make their funds secure and they don't blindly click suspicious links from the internet. Just a quick research can make your wallet much secure than before. If you're using PC, I recommend installing MalwareBytes so the suspicious websites will be blocked when you visit it. I've been using this antiVirus for a while now and everything's good. There are no worms, trojans, or autorun virus in my PC anymore.

I always store my bitcoins in directbet's casino wallet and little amounts on blockchain. You might be wondering why ? because of two things first of all directbet has paid me over 10btcs in bets earlier and hence I trust them more than anything else. And they have a email confirmation system for every withdrawal so no issues at all of hack.

Unless if your email is the one that got hacked. He can simply use the "Forgot my password" feature to get onto your directbet account. The email confirmation system is nothing to him now since he's in control of your email. I haven't tried directbet but I do hope that they have a 2FA feature so even when your email got hacked, he still cannot withdraw your money or log in to your account. But it would be really bad for you if there's also a forgot 2FA feature on the website and then the directbet just sends an email regarding about it to your email.

It is hard to say where to store our bitcoin in a safe place because there are no such thing like that here in this world. Blockchain, and those wallets that you are mentioning are all the same. Maybe it is safe for now but who knows what might happen to that wallet in the future. There's no impossible for those black hat hacker, they are just studying a certain stuff and they are taking all the time that they need to hack that certain stuff. We all know that bitcoin worth of $100 million has been stolen in the block chain years ago and it is possible that it might happen again.

No man, I would never invest my big amount of bitcoins even in different sites because its fine if its 1-2 bitcoins but suppose for those who have like 100 - 200 bitcoins would they or even us be able to digest a loss of around 10-20 bitcoins in a scenario a site scams.
I think using online wallets for storing big amounts means you are risking, better use offline wallets and less often open them.

I generally keep my bitcoins in a HD wallet, preferably electrum, and some of my spending coins in an iOS wallet (which kinda sucks since there are only a few options to choose your wallet from)   Most of the time, I only encrypt my mobile wallet and then create multiple copies of the backup in some flash devices.

I never understood people using hardware wallets. What if it breaks, does it mean that all coins that are associated with this wallet are lost? But if you copied your keys somewhere else (e.g. wrote them down on paper), what's the purpose of using a hardware wallet then? I think the safest way to store your bitcoins is to create a vanity address on an offline computer, encrypt the keys with a password, and then print them out on paper making a few copies. One copy you put in a safe, another in a bank deposit box...

What did I miss exactly?

Yeah storing on cell phones is not that safe plus being the coins all time in front of your eyes you might get tempted and spend them.
I prefer storing bitcoins in my core wallet and I have the important file for the wallet save din my D disk which doesn't get formatted even when I reboot :D

I agree with this because you can never trust online storage or exchanges. It's too easy for them to take your money or go out of business. If you store them on a hard drive, what if something happens to it? The best solution is to store Bitcoin on a paper wallet an keep the address and private key in a safe.

That's a nice idea because for me often blockchain.info is offline and hence I would also use a secondary wallet.
I think for storing huge amount of bitcoins its always best to store them in offline wallets, because if you are a miser and never use it, then you might suffer big one day.

You really need to consider getting a more safer wallet like electrum or trezor and do not put all your eggs in one basket,I understand that you are just want to buy and store for future wallet so you don't need an online wallet but if you decide to have one,only keep a small amount.

Yeah I like Electrum as well as it's very lightweight and a fantastic option for fuss free hot wallets. If you're a passive trader as well with no real need for time sensitive transactions the manual fee option is also great.

I've saved about 5% in fees using low priority transacts on my Electrum.

We both use local wallet i have two wallet also blockchain and local wallet. I used blockchain to earn and transation to my business buy and sell and i stored them in blockchain. Then i use too the local wallet to convert the bitcoin into cash.

Never store all your coins in one wallet or address, always find the private key for each address after depositing and keep them both in a text file like notepad and even print them on paper.
Though best thing would be to just send bitcoin to an address without ever using it doing transactions.

i think you can store you bitcoin in many wallet because there is hacking problem if you store your all bitcoin in one wallet so anyone will be hack your all bitcoin from one wallet so i prefer that store your bitcoin in many wallet is much more good than one wallet then you will be never lost your all bitcoin.

just like the other way in which money is been saved in the bank so also when one get to know about bitcoin he or she is been ask or require to have a wallet account in which they can store their their bitcoin  and have a strong password to which they can have access to at any given point for their transaction.

The most safest place to store your coin is on your personal computer, that has password know by you and you alone. You can also store you bitcoin with blockchain.info and xapro, there the most safe online wallets. Most importantly safeguards your password both on your personal computer and online wallet and you are good to go.

Yes installing a wallet in your personal computer like electrum is one of the ways that you can call safe but online wallet is not.  As long as you don't have the

private keys it is not yours,  this situation is not different when your money is in the bank.  Online wallet is just good for storing small amounts but never with huge

amount like what OP has. This should be kept in a cold storage/bread wallet/hardware wallet.

But if all your bitcoin in one wallet only few btc even if less than one bitcoin, maybe the hackers will interest with your wallet and hack your wallet is gratuitous. But no problem divide your bitcoin in to few wallet for security is great idea, moreover make some wallet address is free you need double email.

of course, you should be considering a secured wallet because you are having a huge amount of bitcoin . if you are looking for highly secured wallet then web wallets can't be recommended for you, maybe you should install a hard wallet to your pc and make sure you won't be attacked by a botnet or any malware . I guess installing a hard wallet on Linux OS especially Tails OS is the best .

As I understand it, if you have to install a wallet somewhere (Windows or Linux, it doesn't matter), it won't a "hard" wallet because by hard wallet people evidently refer to a hardware wallet, which doesn't need to be installed anywhere (apart from putting it in some place, of course). Linux is way more secure than Windows, that goes without saying, but it still doesn't completely exclude the possibility of your coins being stolen. In other words, it is not a panacea...

Correct me if I'm wrong on this

there is many way to store your bitcoin but i prefer that blockchain because blockchain is very much safe and secure wallet and there is maximum people store their bitcoin so you can store your bitcoin in blockchain and blockchain is very much easy than other wallet.

Store your bitcoins on paper wallets and put them on a water proof plastic bags then put it a safest place you know so you will be able to sleep in night. Don't store your bitcoins on any online sites because they are not fully trusted and there is always a risk of getting hacked of your account so if i were i will just put them on a paper wallet or hardware wallet then i will put them in a safe place.

there are so many trusted online wallet where you can save your bitcoin, but i will also suggest you that keeping all your bitcoin is really risky therefore you should use different wallet for keeping you money.

you can store your bitcoin in any secure wallet and there is many secure and trusted wallet for storing bitcoin and i also using blockchain wallet and i think its very secure and trusted than other wallet.

I store my Btc in electrum wallet. Its very safe and secure to store and i would advice you too to do the same.

When you do this, make sure you do not create your paper wallet through one of those online paper wallet creator services. They could be saving your private keys and you could end up losing all of your coins at any given time.

For creating a secure paper wallet, check this page:
https://en.bitcoin.it/wiki/Paper_wallet

yes there is no doubt about this, but i think Xapo is also one of the most secure and trusted online wallet, they give you some extra security, its transaction fee is almost negligible, i am using it for years and always found it trusted.

yes that is right, i also will suggest you have more than one wallet if you have some good amount of bitcoin, because keeping them all in one wallet is more risky, because hacker can hack your wallet and can take your money, therefore you need to be carefull.

Having more than one wallet is not enough. Having more than one wallet and then having the same password in all of them would be pointless. Once one of your wallet gets hacked, all of your wallets will be hacked. You're more prone to get hacked then. You should have different complicated passwords as well and then 2FA on each account. Unless your PC or your phone has virus, you will not get hacked. Some people suggest using paper wallet, you should check that out. I think that's more secure than using an online wallet.

If you are just purely buying bitcoin every week and dont have intention on trading or investing it then you must really purchase some hardware wallet so that your bitcoin would be safe and it on all of your control and you should not put it on web wallets because its too risky because you didnt posses the private key.

Yeah, if you want some secure wallet then hard ware wallets is the best and don't ever trust web wallet because there is a high risk by using that. Or if you want some cheap and high secured wallet then paper wallet might suit for your needs because you just need to create a paper wallet document then print it and keep it to a safe dry place and there you go, You have a cold storage for your bitcoin and you can store bitcoin as many as you can.

and if you still want to use online wallet then you should put your bitcoin in blockchain, as bitcoin is the most secure and trusted online wallet system, where you bitcoin will be more safe as compare to other wallets,

Hardware wallets are not that safe in my personal opinion, there are risks that your pc could get infected with a virus or a malware, which then he will use it to steal your private key and take all your balance.

Currently I am using online wallets like Xapo and Coinbase, I feel better with them as they have a SMS verification when someone tries to log on from a different IP.

Looking at the rate you are acquiring your bitcoins it would be the right time to consider a hard wallet like multibit or  a secure web wallet like blockchain.info and just remember to keep your  mnemonic safe should you ever run into problems with your wallet.

I'm thinking mostly along these lines myself

If you you want a bulletproof method of storing bitcoins and have quite a few of them (which would justify using this method), create a totally offline wallet, encrypt the private key with a password, then print out a few copies and after that save them in different places (a bank deposit box and home safe would be the best choice). If you need your coins on a pretty regular basis, for example, for trading, store some amount in a web wallet with an SMS verification, thereby rendering yourself invulnerable to any variety of viruses, trojans or key-loggers that may infest your desktop computer

You can store it at Bitcoin Wallet, Blockchain for the safest. And I will suggest that create many wallet if you have a large amount of bitcoin for Protection for hackers. If not one wallet is enough. Store your bitcoins at your wallet and don't share it for anyone for you and your money to be safe.

Blockchain is not a wallet, it's a system which is used by bitcoin and i would recommend you to learn first : http://www.investopedia.com/terms/b/blockchain.asp
but if you are reffering to blockchain.info then i will point out that it's not the safest option because it's basically online wallet which make your private key saved in their database so your private key is not secret anymore, i'm myself will recommend sort of desktop wallet or even hardware wallet

You have a point. The safest wallet is paper wallet, whom can be saved in your desktop. What you need to use that wallet is to save your private key in order to open it. That is the best way if you would tend to "stock" your bitcoin. The only disadvantage of it is that, you can not open it from other desktop or device so if you lost your desktop or malware run in it, there is a possibility that you could not open it anymore

Paper wallets aren't supposed to be used after you have spent the coins from it. The best way is to just spend a paperwallet and then create new one to receive new coins in. It's probably for the best to print a bunch of private keys at once.

What I would suggest for the OP is either a paper wallet (given you know how to properly store them) or simply a Trezor or other hardware wallet. With paper wallets you would have to be extremely careful though. They are only safe if handled right.

yes not only blockchain, but yobit and xapo are also trusted wallets where you can store your bicoin , but i think the important thing is that you should not keep your bitoin in one place, because if you are keeping them in one place in a big amount then you are increasing the risk of stealing your bitcoins.

I actually store my bitcoins in my electrum wallet in my laptop. its safe. I also advice every one to not store bitcoins in exchanges. Already, we have seen some exchanges hacked.

You are right its not really safe to store bitcoins on exchange wallets and as you said possibilities of getting hacked is there and the risk of losing our hard earned bitcoin is there also.I would like really like to suggest to store bitcoin on hardware wallets because you do have the full control on it as long you posses the private keys the security would really be more secure.

i think i will prefer blockchain the most trusted online wallet, i think your money is about 100 % safe here, you just need to prevent your key from the hackers, because they search for such account from where they can easily get bitcoin.

you are right electrum wallet is much more safe and secure and no one can hack your bitcoin from electrum wallet and i think online wallet is not safe and anyone can hack online wallet easily.