Bitcoin Forum

Hello there right now i am planning to buy 5btc as an investement option,so in which wallet i should hold those bitcoins.Yes some times i will use small amounts from there and do regular transactions also.So which wallet will be safest and best for that.

There are plenty of options. I recommend using Airbitz for mobile, or Electrum for PC.

https://bitcoin.org/en/choose-your-wallet

Since 5 BTC =~ +$5000 at the time of writing, i would suggest either a hardware wallet, a properly created paper wallet or an airgapped offline wallet to store most of your funds, and either bitcoin core (if you have time and diskspace) or electrum as a desktop wallet.


I couldn't give you tips on mobile wallets, but i'd strongly discourage anyone to start using web wallets... Since you're not the only one controlling your private key, you're not the only one controlling your BTC when using online wallets

I suggest moving a small amount (say 0.5-1BTC) to a desktop wallet like Electrum and keeping everything else in a paper wallet for the long term since you are not going to use them for a while.

Maybe the best wallet will be a desktop wallet so you can easily access it since you'll be doing some transactions with it. An electrum wallet will do. But if you want to keeps safe some of it and not going to use for a while, a hardware wallet is best.

If you like to use some of those bitcoin on daily basis than electrum desktop wallet can be good option for you. But don't forget to save your 12 word recovery phrase in some safe place written down in paper (not anywhere online). Also Use strong password there so that even when someone gain access to your laptop, they can't transfer any funds out.

However most secure wallets are offline wallet (paper wallet) or hardware wallets (eg. Trezor).

Electrum would be the best choice for me and most members posted above since you do make use of that wallet on making transactions then this wallet would suit you and as suggested or adviced above you should keep up you keys phrase for security of the funds.You can still make use of web wallets for more convenience but only store up few amounts just right for your transactions.

If holding any decent amount at all, I would divide it up and store it using at least two different secure storage methods.  Don't put all your eggs in one basket.

Only keep the minimum amount necessary on online wallets and exchanges.

I do not think keeping bitcoin on the phone that a good idea. Bitcoin is a highly secure currency, however, if you do not preserve it properly, you will lose it easily. I suggest you keep bitcoin on your computer, and the private key is a decisive factor. Please keep it carefully. Electrum is a safe wallet for you to use to store bitcoin.

I have a completely different view. We can keep our bitcoins in any medium we are feel comfortable about it and it is easy if we would like to spend them the time we want. If someone uses a strong password to protect his wallet and a worldwide acceptable wallet app like as mycelium then why not keep it in the phone. If someone has so many bitcoins as savings that means he rarely could spent them then he can use any other way to store it like as a hardware or a paper wallet. In conclusion, use your coins as with your fiat except you believe that it's only a commodity like as gold. 

Yeah offline wallet is good idea for saving many bitcoin, it is very safety. It's more better rather than mobile wallet. Whenever It possible to scam you, and lose all of your assets on your mobile wallet. The reason why it can happen because your private key is not only know by you but third party also know your private key. If the dev of mobile wallet is scam your money will lose.

all wallets provide pretty good security now depending on how to use it like giving a strong password using GA or 2FA as double security, and it's better not to buy bitcoin now because the price is high

Since bitcoin is not like other local currencies i think it is good to misused it.
Bitcoin have become a hard currency and one will not be happy if it is lost. I heard some are suggesting that hard bitcoin to saved in phones what if the phone lost then what be your fate. The best way is for one to have his wallet.

You have several options, ranging from hardware wallets (or even paper wallets) to software wallets (in desktop, mobile and browser versions). One thing, for sure, is that you shouldn't keep them at your account on an exchange. Copay and Jaxx are good and relatively secure options of software wallets, IMO.

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Lot of availabilities were there to hold the bitcoin. Based on one's own requirement it's good to select the service. For access anywhere option it's good to use an web wallet and for being a long term investment it's good to have a hardware wallet.

 I recommend using Airbitz or bread for mobile or you can choose from:
https://bitcoin.org/en/choose-your-wallet

Store them on the Bitcoin Core desktop wallet - https://bitcoin.org/en/choose-your-wallet

Or

In a paper wallet - https://www.bitaddress.org

Some good advice in the comments above. You can have as many wallets as you like and debitcate them to different uses. For example, you might want to use a less secure wallet on your phone as a convenience. I would only keep a small balance on a phone. Perhaps no more than the value of the phone. A well secured desktop (Linux) might be ok for a larger balance used to buy more valuable items. For a large balance saved as an investment I would strongly recommend something like a paper wallet stored in a bank safe deposit box, another copy buried 3ft. down in your yard and a final copy at your Aunts house in Vermont.

According to you, you should lay in the mobile wallet a little, but choose for yourself safer option

Well if you want to do regular transactions with it and still keep it secure, you basically have two options.  

One of them is a software wallet like people have mentioned (Electrum).  This is good but you need to keep it on a safe computer where you don't have much chance of contracting malware, because if you do it could steal your Bitcoin.

Another is a hardware wallet, which is what I recommend for your case.  It basically is something that encrypts your private keys for you so that you can only access it behind a PIN and additional passphrase but you can spend whenever you want by linking it to your PC (probably a chrome extension or bridge).  TREZOR is the best one of these in my view, and you can even load it up from a malware-infected computer safely because it doesn't transfer any information except for the transaction and anything that's necessary for encryption.  It's also safe from a 5-dollar wrench attack because you can have two passphrases, one of which leads to a much smaller amount of Bitcoin and one of which you use normally.

I suggest to use blockchain and mycelium for mobile phones, and electrum for pc. this Wallet is very easy to use, not only that ,extra security has also been implemented. Extra security has also been implemented, I'm very easy to use the wallet, it also minimizes attacks our theft from hackers

Just hold your bitcoins in your wallet where you can store it and save it we see that bitcoin price is increasing so just save your bitcoin and when the time passes your bitcoin is getting a higher price so more bitcoins you save more % you get.
Try web wallet or blockchain so far it's the best bitcon wallet that i use a liitle bit of transaction fee but great security.

As far as I know electrum is the wisest choice, it has the highest security than other wallets, I prefer not to place it over online wallets if you're about to store that amount, because the wallet I currently use steals some wallet that has a high amount of bitcoin, after hearing in some person they say that they can't access their account after putting big amount of bitcoin.

what about www.blockchain.info ?
I used it a long time and I think it is secure and easy to use..

And I also used xapo & coinbase.

What do you say seniors about these 3 web wallets?

Web wallet are also good but the cold storage or papart wallet would be the best option to save your bitcoins. I use to save the bitcoins in my desktop wallet electrum.
If you looks best fees and fast transaction wallet. Please avoid block chain. It's been consume high minimal fees and transaction time consumes big than other web wallets.

There's Bitcoin Clients like Multibit, Electrum that allows you to hold your Bitcoins.
I would recommend that you put a password on your Bitcoin Account that has Bitcoins on them so that it will be more secure than it already is. If you want to use Blockchain.info or any other Bitcoin account that is hosted online then you would want to have it secured just in case something bad were to happen, also you might want to put on 2 FA as well.

We dont have so many options because of if you have bitcoin you have to use some options i have bitcoin and i hold my bitcoins in web wallets but we have to careful about paswords and securities ways if we can do it we can hold our bitcoin in safe but , i think in the future , we will use better ways and it will let we will hold our bitcoins with  very secure methods .

Okay thanks to all of you for all these information.Reading posts of many users,i decided that right now electrum wallet will be best for me so i am going for that.This forum is really helping me a lot as i am new in this world thanks all,and i am closing this thread now. :)