Bitcoin Forum

I have invested a few thousand USD in last few days. I have worked hard to save the money so I want to do everything in my power and protect my coins.
At the moment coins are on exchange site(s).

What is the best way to protect/store following coins?

IOTA

RIpple

Verge

SiaCoin

ReddCoin

SafeExchangeCoin

BitBay

Sequence

Golem

Ardor

LBRY

STEEM

Dodge

Stellar

MUSICCoin

NXT

Please help guys.

It should be possible to store all of your coins in paper wallets or at the very least deep freeze offline wallets


Paper is the most secure really... as long as you dont lose the paper.... but also takes the longest to thaw it out

You can store some of those coins on a Nano ledger S, very usefull

read this:

https://steemit.com/cryptocurrencies/@alttrader/5-recommendations-succesful-investors-do-lessons-from-400-days-of-cryptotrading

Some exchange sites, could be not so great to store your coins there, that why it would be better to store them on wallets, which you can keep on your computer. Bittrex or Poloniex are good exchangeres and have a great and clear history, so you can also keep some coins there and souldn`t be afraid for them :)

You have a multicoins wallet for android, named Coinomi but not available for desktop :(

you have to check for the wallets on the websites of the coins.
e.g.
https://nxt.org for NXT and Ardor. You don't have to download the hole blockchain.

http://bitbay.market for bay.

Use a paper wallet and keep it some where safe. Learn how to make a paper wallet by Googling. There are lots of articles available. Read at least 3 to 5 articles before making a paper wallet. Whatever you do, it is never safe to store large amount of your crypto portfolio in an exchange. In fact, you should not store at any in sites which doesn't give you the control of the private key of your wallet.

If you are not having any plans to trade for a long time then you should move all your coins in their respected wallets in which you are able to control the private keys,just check their official websites and learn how to move the coins and the safest storing method,never use online wallets or exchanges to store your coins for a long time.

You bought those bunch of coins to make trades or to just hold for long? Im just confused because some of them are good for day trades and not fit for long term holding due to high volatility.

If your purpose is really just to save them, go on to their respective website and download the wallet there. It's more useful if the client will come to their respective as it was designed not just to saved your coins but even the private keys of it.

One option would be to create different paper wallets for all of those coins, like many people above mne have suggested.
This can be especially useful if you're planning on holding these coins for a long period of time.

However, it might also be a good idea to get all of those coins' wallets on a SD card or USB stick and transfer the coins to them.
It would be easier to access them that way.

I think if there all in the exchange platform, apply 2fa especially if all of it are in bittrex exchange so that it will not be hack
by someone. This is the only things I know about it :)

If you're using poloiex system, enable 2FA method and keep them right there.

Is it just me or does anyone else do a lot of evaluation of an altcoin by the quality of it's wallets.

I have messed around with a lot of altcoins and you would be surprised by how flaky some of the wallets are. For instance, many have broken private key import/sweep functions. I discovered this when I went to sell some coins stored on paper wallets. Luckily, I understood enough math to construct my own transactions by hand even if I had to waste a day doing it.

I am not going to name any coins, because this changes over time, but I would recommend testing a coin's wallet management before you send a large amount of coins to a paper or cold wallet. You might be surprised at what you discover.

BTW, it is one of the reasons that I have invested a lot into Myriadcoin. They have 3 major wallets and one of those is Electrum, which in my opinion is the best light weight wallet available. They also have an excellent web wallet based on the Rushwallet that works fine on Android phones, an important consideration for 3rd world countries.

if exchange has 2fa password sequrity sytem you can enable it.and can use multicoin exchange like https://www.coinpayments.net . but all coin do not availabe here.

Thank you for excellent advices. Much appreciated.

that is a lot of altcoins,, you've got a lot of it you will hold it in long term try to put that altcoins in the nxt.org many people said that they all work in any altcoins and they have passphrase so you are secured.

I probably would do a paper wallet for most of these for security.

For some of the main ones, can use Trezor or ledger S.

dump. this link helps a lot, maybe it will also help you. it helps me so better to spread this than to sit back and let others know nothing about this.

gj spreading the word. :)

I use Coinomi for multiple coins and it works pretty good.  But as I don't own most of the coins you listed, I can't say for sure if Coinomi offers wallets for all of them.  Otherd have suggested paper wallets,  and that's a damn good idea...IF you're holding for the long term.   IMO a lot of those coins aren't worth holding longer than a few weeks at most.

Why not?

Maybe they are garbage?

It's a hassle if you are going to download the specific wallet for each of the coin so just activate your 2fa on your exchange site. Just make sure the exchange site is the real site because there are many scammers that copy that same site and you log in to them.

Use MYEHTERWALLET for Ether and EC-20 coins. Check how to cold store on airgapped computer.

Exodus is also good if you want a desktop wallet and just using for storage.

If you already invested thousand's of ur hard earned money, better buy HARDWARE wallets, you wont regret it. Just remember pass phrase and if you lost the wallet you can start with new one using existing pass pharse and ur old coins will be visible.

Don't ever trust a exchange and expect them to keep your money safe!

you can save dogecoin verge, reddcoin, lbry in coinomi.
xrp, gnt, steem, dogecoin, nxt at coinpayment.
the other wallet that i know to save multi coin is jaxx but there is for limited coins and not like coinomi and coinpayment. i am using this three of wallet in my android phone wallet.

The best way is to create your own Paper Wallet. You can search online on how to create a Paper wallet step by step. Thats more secure than other wallets online. You can also create 2 or more paper wallets to make sure and divide them from different paper wallets as well.

you don't own your cryptoassets unless YOU, and ONLY YOU, know your private key. Never share your keys with anyone, not even your true love

The best possible way, for whatever coin it is, is to use the proper wallet, downloaded of course from the official website, and ran on an offline computer. This way your coins are safe.

If you planning long term holding coin , I will choose ledger S , You must enable 2FA If leave coin at exchange , because not protect private key by yourself , 2FA most important to protect your account :)

No Exchange is safe ..
No wallet is safe either ... Trojans and malware
Some dedicated wallets need you to connect to internet ..

If you are low on budget and want next to best solution then go for Paper wallets .. tiresome but as strong as hardware wallet

Can you just send them to your ETH wallet and keep there? Do ETH wallet backup and store offline?

For example, im quite sure this can be done for TENX.

Only ETH and ERC-20 coins can be saved to MyEtherWallet(MEW) ..
- MEW has range of options .. download Cold storage and copy it over to airgapped computer(no internet connection) ... then run the MEW steps .. They also have steps on how to send coins from MEW using airgapped computer.
- MEW also help in generating paper wallet
- Just Zip and copy the entire folder and save at different locations for safety

Some of these coins are bitcoin client coin so it's always best to keep a copy of the wallet.dat or private key in a safe place and if you are holding an ethereum based token always keep the private keys, do not put all your coins or even half of it in exchange.

You must put the altcoins on official of wallet the altcoins and never put your coins on the exchangers
i hope you have understood about the altcoins that you have invested on them,
so you don't confuse how to put the funds on the official of wallet and always do back up data
makes sure you put the private key of altcoins on safe place.

worst thing ever is to store on exchange, store instead on a multicoin wallet like coinomi, they are secured in your computer locally and more safe than exchange, then backup the wallet of coinomi and you are ok, against possible losses

You have invested many altcoins, that's great! Sometimes investing in many altcoins are not preferrable because you cannot focused on it when to sell it or withdraw it. So its good if you use few coins, 2 or 3 coins.  And about the security of your coins, you need to save the coins from exchange to official wallet which you will own the private key and that is the best way to protect your coins from hackers.

Exchange isn't the safest place to store your coins. You can store it on your computer, but computer virus and infections are risks you should not be taking. Try investing on hardware wallets. They aren't very expensive but worth buying. Else you could go for paperwallet like everyone suggested.

I would just download a regular wallet from the official website of the coin or just download the Ethereum wallet from their website instead of purchasing a hardware wallet. Downloading Ethereum’s blockchain is long, it’s worth it in the end because you literally paid nothing to get your coins secure.

I would trust anyone that makes a hardware wallet, you don’t know what’s really inside of it. Plus there more flexibility with a desktop wallet.