Bitcoin Forum

What is the absolute fastest and SAFEST way to store coins that are currently in an exchange?

there is no absolute fastest and safest way to store coins in an exchange, every exchange have possibility to scamming people. but if you want, you can use the other software that installed in your personal computer or your android phone so only you that have the access of your coins. if you are afraid to save your coins in an exchange, its better for you to not save all of your coins into the exchange and you need to save it into other place like i mention before.

If I were you I won't let my Cryptocurrencies hanging around in an exchange site, the risk involve by doing that is obviously high. What you can do is store all your Cryptocurrencies in their respective Wallets therefore the possibility of getting hack is lesser than holding your coins in an exchange site, my claims are being based on what people are trying to say in the safety of your Coins.

option 1:
choose one of the hardware wallets that are currently available, such as Trezor or Ledger. buy one, learn how to use it and transfer your funds to that. fast and safe.

option 2:
learn how to use bitaddress (https://github.com/pointbiz/bitaddress.org) to generate a paper wallet. do that, print it and send your funds there.

p.s. if by cryptocurrencies you mean multiple altcoins not bitcoin, then i believe Trezor or possibly others support some other altcoins such as LTC too. also there is another project (which i don't know if it is good or not) which is similar to bitaddress and generates paper wallets for altcoins
here is the link: https://walletgenerator.net/ but i don't know if it is trusted like bitadress or not.

This question will come as a contradiction first..."exchange" and "safest" don't go to together.

That said, the safety that comes with a Bitcoin (or other alt crypto-currency) wallate comes with how easily anyone else can open it. That ease comes from a very few specific criteria; 1. Does someone other than you have access to your wallet's private keys? (every online wallet does) 2. Is your wallet connected to the internet? (if so it is vulnerable to attack and hack).

The only way to truly get around these risks is to have a wallet that lives off line and gives you complete and sole control to the private keys.

Trezor comes to mind first, but the aren't the only good option. Read about.

Fastest would be to right away withdraw them to your wallet, safest would probably be cold storage. But first and foremost is withdrawing the coins to your wallet so you have full control over them.

UASF is coming on 1st August, the last thing you want to do is holding your funds in an exchange, just switch to something more convenient like a desktop wallet If you don't have much, otherwise with a hardware wallet or a paper wallet for long term storage.

Never ever store up your coins on an exchange as been said above the risk of being scammed or lost of your coins would be there.We know exchanges that anytime they would be hacked and would stole of all the coins on its users or maybe they would ran all the money you have.Its really possible to happen thats why its wise to store up on hardware or offline wallets.

transfer em over to another wallet that you can control your private keys.

Try out:
Windows: Electrum
Android: Copay / Mycelium
iOS: BreadWallet

That's exactly what the OP is asking for, and you're not giving them any useful information.

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It depends what you're looking for, OP.  You have two main choices:

1.  Taking your coins out of an exchange to a wallet which you spend from regularly.  For this I would suggest Electrum (https://electrum.org/#home), a TREZOR (https://trezor.io/), or both used together.

2.  Taking your coins out of an exchange for cold storage.  For this I would suggest creating a paper wallet which you only use once, and create a new paper wallet each time you take funds out of the exchange.

In fact, there is a way, though it is likely not what the OP actually meant to ask

A disclaimer, I didn't use this method myself but I know that other traders are using this approach (if only occasionally) and especially in circumstances like these (the coming Bitcoin split and the overall panicky sentiment). Basically, you can hedge your coins without actually having them in an exchange, though it would cost you something (not much). You use two exchanges that allow margin trading and open two margin positions offsetting each other. Since you have to provide only, say, 15% initial margin (I take Bitfinex as an example), in the worst case (exchange scamming and running away with your coins), you will lose only as much. The advantage is two fold, first, you insure yourself from price volatility and, second, you don't have to keep the bulk of your coins in your exchange account

I believe this is in reference to August 1st panic, we'll I would suggest you to move it to paper wallet or any wallet for that matter that gives you private keys. Fastest you mean you are worried that your coins are getting stuck then pay higher fees or head into service section out here, many are making fast transactions done for a fee or even free using trx services.

Ledger Nano S

Is electrum safe?

Electrum 100% safe?

Be careful when you post there's no need to post the same thing just merge them to avoid double posting.Yes electrum is safe afaik and i'm also using it with no problem. Always save/make a backup so you won't lose access of your coins.

Yup. It's a light wallet so you don't have to worry about space on your hdd.

Thank You, Electrum seems super fast. It doesn't appear to take up that much space on HDD? Is that true?

Go to https://www.bitaddress.org/ to generate a paper wallet {make sure you are offline when you doing it} .... That will be the fastest method,

but not the most secure method. Ordering a hardware wallet is a slower process, but it might be a bit more secure. The last method, is to go out

to a second hand shop to buy a old second hand computer & printer. Copy the whole website { https://www.bitaddress.org/ } [script] and copy

it on this computer's harddrive and run it... generate a bunch of paper wallets and print it on the printer. {do not go online with this equipment

again}  ;D

Why don't you just download the software and see for yourself? Or better yet get a hardware wallet and save on your precious HDD space.

But how then can you react to everything that happens to a newcomer? If there are real threats. In some cases, even the software may not help, if there is no specific knowledge. But it seems to me that this is a matter of practice and skills.

I think portable electrum can be also safe just save your protable electrum wallet into drive D or usb you have a wallet that can you hold for a long time.. once the computer crash you can format your computer for drive c but for drive D will be still remain so if you save your electrum wallet in drive d its safe..
But most the new hard wallet are good to use is trezor for bitcoin only and ledger nano s is one of the good offline wallet that you can hold altcoin and bitcoin.

Trezor is one of the best ways to store your bitcoin private keys in case of some turmoil around August 1. The developers have always said in past in case of a fork you will own coins on both forks and be able to choose which fork to spend on. Ledger Nano S is out of stock until September but you can still get a Trezor at a higher price than normal, I think it is $150 with shipping.

Electrum is as safe as the user PC is. If you do not know how to protect your PC from hackers, spyware, viruses and keyloggers then Electrum will not be a safe option in such environment. If you do know how to protect yourself and haven't formatted your PC from quite some time now, Electrum is 101% safe. It is also free. If you have the money buy a Trezor, it will be your best choice in bitcoin.

I wouldn't focus on the fastest and safest, but relatively safe that is also easy and fast. What I'm talking about can be compared to storing your cash. You can buy a safe, punch a hole in the floor, pour some concrete and fit the safe in, cover it with a rug and put a desk over it, but you can also take a piece of sticky tape and attach it to the back of your wall mounted light switch. Get it? :D
So, you can play with paper wallets and similar inventions all day or buy a trezor, but a simple address created offline is as safe and easy to use.
Go offline, use an offline wallet or offline version of bitaddress.org to generate an address, copy that address to a memory card or a small drive (2 copies to be safe), hide it.
If you decide to use an offline version of the generator, it will take you less than 5 min and it will be as safe as the cash in your pocket.

First, I think the safest way is to store your bitcoin in a hardware wallet, It's more safe an secure than any wallet, but you should learn first how to use it.
Second, I don't advice you to store your bitcoins in an exchanger, because no one can know that exchanger site can last lifetime.

If you have your coins in an exchange and you want to withdraw them out of fear for what may happen on August 1 the best thing you can do is withdraw them soon, don´t wait until the last week of July because the network can be too congested those days.

Fastest and safest coin which is accepted worldwide and all of the exchanges do trade it gladly, a coin with hundreds of millions spent on it's

Infrastructure and has a community of not a few creepy individuals but millions of enthusiasts? welcome to Bitcoin mate. other alternative are

Just the failed attempt in becoming someone like Satoshi, and if you are seeing their prices are skyrocketing it's not because of the community

Supporting them and demanding, it's because of the fact that there is no regulation nor any controlling authority to govern the cryptocurrency

Exchanges and holds them responsible for their actions, that is why they can easily pump their coins and of course a few could get rich no doubt.

I could organize a chain of exchanges services and launch an altcoin then start trading it on those platforms while I'm holding most of the coins

Or I have already developed a program which gives me the most advantage over others when it comes to mining, so while I'm mining my coins

in bulk without anyone noticing that it's only me one person doing it, other people will join mining and further legitimize my coin and all I did was

Simply investing less than $1M just to have hundreds more because of the fools buying/selling and mining/investing in my coin.

They even did it with Bitcoin but ASICboost is no longer a secret, now imagine what dirty secretive programs are in play with all the coins out there.

Edit; while I thought the question was what is the safest and fastest coin which is being traded currently on exchanges? never the less my statement

Is correct and fits to this board, I thought you should know by now that Bitcoin address is the only place holding and capable of holding your coins.

Are you retarded or something? if you know nothing about storing your coins then you deserve to lose them and you are not made for crypto.

This is funny as fuck while I was reading other replies I thought everyone misunderstood the question now I see I was the one. :-[

If you aim for the extreme security for the storage of your digital assets, you can look for hardware wallets such as ledger nano s and trezor hardware wallets. They're providing high level of security for you.

Doing something in Harry can harm you, the fastest is to withdraw your money and to go through safest it needs to keep your Bitcoin hold. there is no Absolute fastest and safest way to store coins in exchange in your wallet. there are A lot of hardware wallet in market, hardware wallets can keep your Bitcoin safe. Bitcoin can save your money for long time to give you more profit. You can choose one of the hardware wallets that are currently available.

Exchange to me are one of the absolute ways to lose your money not because they will steal it, (at least we haven't heard this in w while)  but for several other reasons to deny you access to your funds that you willingly gave them by start with things such as they are synchronising their wallets so they cannot process withdrawal, or they will say their machine detected some issues with your account then they close it. In all this, there is nothing one can do because you accepted to the terms. So exchange sites is a no no for me.

It is not true, Basically electrum just a desktop wallet that has a little size rather than tries to download Bitcoin Core and use it to be your desktop wallet. Remember you just need to synchronize your electrum wallet to the network and you already able to send or receive your money. It will not take much size of your HDD. It's not as a bitcoin core that makes you try to download the blockchain of bitcoin.

Don't worry about that i've used it.

The fastest and safest way to store coins that are currently in an exchange is of course by storing it on a wallet that you own, a wallet that you know the private key. You can either import it on a web wallet or on a wallet software. In terms of web wallet I recommend blockchain.info to you, this is the web wallet I trust most.

Fastest and safest are almost always mutually exclusive. I don't think the quickest way to store your coins is going to be the most secure, and vice versa... So I think you need to re-evaluate your priorities and re-formulate the question! You can't have your cake and eat it too.

If you brought it from an exchange the fastest way is to store it right there but you need to be sure that the exchange you use has a high security and reputation so that your coins will be safe there. But if you want the safest then you probably need to generate your own wallet that only you can access by doing so no one can manipulate your coins but you.

So far you do not see any fastest and safest way to store and earn bitcoin in an exchange, storing money in an exchange is not advisable because they have possibility to run or to scam people if they already run out of capital. Much better to be wise and every time you have income just withdraw it and that is much safe way to do right now.

Well, there is no definitive safest and fastest method to transfer Bitcoin from an exchange. Each exchange has the possibility of scamming you, freezing your account....etc. So in truth, it does depend on your exchange. If the exchange is trustworthy and reputable, then it should be safe to transfer Bitcoin to your wallet.

At the moment the fastest and most economical rate for transferring Bitcoin is 390 satoshis/byte. When you are transacting the Bitcoin to your wallet, I would suggest that you use this rate. However, it is to be noted that this rate does change with different circumstances. To get the most up to date rates consult this website before sending your transactions: https://bitcoinfees.21.co

If you want the fastest, you better use the online wallet such as Blockchain.info, Xapo, and so on. If you want the safest, use hardware wallet like Trezor, Ledger, and so on. If you want both, use portable Raspberry Pi, make a pocket laptop, install desktop wallet in it, and it's ready to use every time you need, just keep in mind to backup your private key since durability is not that good.

Heres the thing, if you want FAST you're going to have to be using one of those online wallets that are easily used by people such as BitGo (Safer) Coinbase, Blockchain.info and so on and so forth. These are the ones that could be safe if you make them safer through some security means but they're not going to be the safest on the market. Safer ones such as hardware wallets like Trezor, or even deskptop wallets I feel as if are the safer things to use.

Getting a balance of FAST AND SAFE is insane and isn't going to be something you'll be able to find in an exchange as those are the ones that are most prone to all of these insane hacks. I'd simply just let that idea go away now if you're really thinking about using it, it's not going to work. IMO BitGo is the fastest and safest for normal usage though, may get a bit expensive with the BITGO fee which is there.